Actuary Hourly Pay in Richmond, VA: $65.45 (2026)
Quick Answer:Hourly pay for a actuary working in Richmond, VA runs $65.45 at the median for 2026 — annualizing to $136,121 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Richmond's regional price level (BEA RPP 97.9, 2% below national), each hour of work buys what $66.88 nationally would. A 24-hour part-time schedule grosses $81,681 per year.
Official BLS data · View source
Actuaries in Richmond, Virginia, earn a median hourly pay of $65.45, slightly above the national median of $64.50. This hourly rate offers enticing opportunities for professionals considering part-time positions or per-diem work within traditional settings like insurance company pricing departments, consulting firm client engagements, or reinsurance teams. Entry-level actuaries typically start at around $46.51 per hour, while top earners can command up to $105.55 per hour. Such flexibility in hourly earnings makes actuarial careers appealing to individuals seeking varied work arrangements, whether it’s a stable three-days-per-week schedule or contract-based projects that align with their expertise.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $46.51 | $372.10 |
| Lower Range (P25) | $49.81 | $398.52 |
| Median (P50) | $65.45 | $523.60 |
| Upper Range (P75) | $81.76 | $654.04 |
| Top Earners (P90) | $105.55 | $844.42 |
Estimated Annual Income by Work Schedule in Richmond
Based on $65.45/hr median hourly rate · 2026 est.
At $65.45/hr, a actuary working full-time (40 hr/wk) in Richmond, VA can expect to earn approximately $136,135 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $78,539. With a cost-of-living index of 97.86 (below the national average), these earnings stretch further in Richmond.
Hourly Rate Calculator
Schedule Comparison in Richmond
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,617.98 | $11,345 | $136,135 |
| Part-Time (24 hrs) | $1,570.79 | $6,807 | $81,681 |
| Per Diem (16 hrs) | $1,047.19 | $4,538 | $54,454 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Richmond) | $65.45 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Richmond, VA earn a median of $136,121 per year (2026 est.), which is 1.46% higher than the national median of $134,160 and 1.70% below the Virginia state average of $138,475.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $65.45/hr = $81,681/year (purchasing power: $83,469).
Working 40h/week (full-time) = $136,135/year (purchasing power: $139,115).
CoL index: 97.858 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$66.21/hr
2025 BLS Actual
$63.42/hr
2026 Current Est.
$65.45/hr
2019–2027 Growth
+2.0%
Hourly Rate Trajectory for Actuaries in Richmond (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $66.21/hr | Actual |
| 2020 | $54.17/hr | Actual |
| 2021 | $51.66/hr | Actual |
| 2022 | $51.59/hr | Actual |
| 2023 | $54.21/hr | Actual |
| 2024 | $62.67/hr | Actual |
| 2025 | $63.42/hr | Actual |
| 2026(current) | $65.45/hr | Estimated |
| 2027 | $67.54/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Richmond grew -4.2% from $66.21/hr (2019) to $63.42/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $67.54/hr by 2027. Part-time and per-diem actuaries can use this multi-year trend to benchmark future contract negotiations.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Richmond metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.20% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Working as an Hourly Actuary in Richmond
For those interested in the financial outcomes of part-time work, an actuary working 24 hours a week in Richmond would take home approximately $83,980 annually, which is significantly less than full-time professionals but still competitive. Per-diem actuaries, particularly those with advanced qualifications like FSA or FCAS, operate differently; consulting engagements can fetch hourly rates between $250 and $500, with specialty work such as expert testimony bringing in rates of $400 to $800 per hour. Rates vary considerably depending on the employer type, with life insurance firms like Prudential and MetLife typically offering different compensation than health insurers like Cigna or consulting giants like Mercer. Actuaries often weigh the trade-offs between hourly rates and the benefits package offered by full-time positions, sometimes opting for lower hourly rates in exchange for comprehensive health insurance. To maximize earnings, professionals should negotiate with an understanding of local market conditions and the specific needs of prospective employers, ensuring that their unique skills in predictive analytics and data science are clearly articulated.
More salary data for Richmond, VA:
Frequently Asked Questions
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Written by Maria Chen, FSA, MAAA
Career Analyst
Maria has 10 years of experience in life insurance. She specializes in risk assessment and pricing strategies.
Methodology & Data Source
Hourly wage figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. A 3.20% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to estimate current 2026 hourly rates for actuaries in Richmond. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Source: BLS, OEWS, 5-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.20%, derived from historical BLS wage trends for actuarys (SOC 15-2011).
Compiled and verified by Maria Chen, FSA, MAAA, a licensed actuary with 10+ years of clinical experience. · View source data at BLS.gov