Actuary Hourly Pay in Salem, VA: $64.54 (2026)
Quick Answer:Hourly pay for a actuary working in Salem, VA runs $64.54 at the median for 2026 — annualizing to $134,240 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Salem's regional price level (BEA RPP 103.2, 3% above national), each hour of work buys what $62.54 nationally would. A 24-hour part-time schedule grosses $80,548 per year.
Based on BLS state-level estimates · View source
In 2026, the median hourly pay for actuaries in Salem, Virginia is projected to be $64.54, which is slightly above the national hourly median of $64.50. This rate offers a stable income for part-time workers who might choose to operate three days a week, allowing them to earn a substantial hourly wage even with less traditional work schedules. The hourly compensation ranges from $37.68 for entry-level positions to as high as $100.03 for top earners. Many actuaries are found in environments like insurance company actuarial pricing departments and consulting firms, where hourly work can often involve remote or hybrid model settings. These estimates are derived from annual salary data, giving a strong indication of the potential earnings in the profession for those in Salem while catering to varied workplace preferences.
About the Salem Market
Salary estimated from Virginia average ($128,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $37.68 | $301.43 |
| Lower Range (P25) | $50.87 | $406.94 |
| Median (P50) | $64.54 | $516.33 |
| Upper Range (P75) | $82.33 | $658.66 |
| Top Earners (P90) | $100.03 | $800.25 |
Estimated Annual Income by Work Schedule in Salem
Based on $64.54/hr median hourly rate · 2026 est.
At $64.54/hr, a actuary working full-time (40 hr/wk) in Salem, VA can expect to earn approximately $134,246 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $77,450. With a cost-of-living index of 103.20 (above the national average), these earnings may be offset by higher expenses in Salem.
Hourly Rate Calculator
Schedule Comparison in Salem
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,581.65 | $11,187 | $134,246 |
| Part-Time (24 hrs) | $1,548.99 | $6,712 | $80,548 |
| Per Diem (16 hrs) | $1,032.66 | $4,475 | $53,698 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Salem) | $64.54 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Salem, VA earn a median of $134,240 per year (2026 est.), which is 0.06% higher than the national median of $134,160 and 3.00% below the Virginia state average of $138,392.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $64.54/hr = $80,548/year (purchasing power: $78,050).
Working 40h/week (full-time) = $134,246/year (purchasing power: $130,083).
CoL index: 103.2 (100 = national average).
2019 BLS Actual
$52.12/hr
2025 BLS Actual
$62.54/hr
2026 Current Est.
$64.54/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Salem (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $52.12/hr | Actual |
| 2020 | $53.41/hr | Actual |
| 2021 | $50.95/hr | Actual |
| 2022 | $54.84/hr | Actual |
| 2023 | $57.73/hr | Actual |
| 2024 | $61.58/hr | Actual |
| 2025 | $62.54/hr | Actual |
| 2026(current) | $64.54/hr | Estimated |
| 2027 | $66.61/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Salem grew 20.0% from $52.12/hr (2019) to $62.54/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $66.61/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 Salem 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 Salem
Actuaries considering part-time work, like a three-day week totaling around 24 hours, could expect to earn approximately $78,180 annually, a contrast to the full-time equivalent. Per-diem actuarial roles tend to be more accessible to seasoned professionals due to the higher pay rates associated with consulting or litigation engagements, where experienced FSAs or FCAS can command rates between $250 and $500 per hour, and niche roles such as expert witness testimony may reach up to $800 per hour. Different employer types contribute to the variances in hourly pay; for example, life insurance companies, such as Prudential and MetLife, may offer competitive rates, while property and casualty insurers like State Farm might present different compensation schedules. For actuaries in Salem, those prioritizing benefits may choose slightly lower hourly rates with traditional insurers, while others may prefer higher hourly rates available in consulting without the associated perks. Understanding these dynamics can greatly influence negotiations and career paths in this field.
More salary data for Salem, 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 Salem. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Salary data for Salem is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
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