Actuary Salary in Park Ridge, IL: $125,254 (2026)
Quick Answer:A full-time actuary in Park Ridge, IL earns a median $125,254/year (≈ $60.22/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Park Ridge's price level (3% below national, BEA RPP 97.1), that paycheck buys what $128,995 would nationally. Nominal pay sits 3.9% below the Illinois state average.
Based on BLS state-level estimates · View source
In Park Ridge, Illinois, the projected median annual salary for actuaries in 2026 is $125,254, reflecting a competitive edge in the market compared to many localities. With salaries ranging from $81,870 at the 10th percentile to $194,144 at the 90th percentile, professionals can find substantial opportunities depending on their specialization and experience. These figures are derived from 2025 BLS data and adjusted for regional price differences, underscoring the influence of local market conditions on actuary pay in Park Ridge. As demand for actuaries continues to rise in sectors such as life insurance, health care, and pension management, those considering this career path in Park Ridge can expect a strong job market as they advance through their exams.
About the Park Ridge Market
Salary estimated from Illinois average ($130,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $81,870 | $39.36 |
| Lower Range (P25) | $97,432 | $46.84 |
| Median (P50)(typical) | $125,254 | $60.22 |
| Upper Range (P75) | $158,458 | $76.18 |
| Top Earners (P90) | $194,144 | $93.33 |
Median Salary Position
6.64% below the national average
2026 Salary Percentile Distribution in Park Ridge
In Park Ridge, IL, the actuary salary spread from the 10th to 90th percentile is $112,274 (2026 est.). At $125,254, the local median is 6.64% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Park Ridge: You'd be in the lower-middle range
How Park Ridge Actuary Pay Compares
Park Ridge median: $125,254/year (2026)
| Compared To | Median Salary | Park Ridge Pays |
|---|---|---|
| Illinois Average | $130,337 | -3.90% less |
| National Average | $134,160 | -6.64% less |
Actuarys in Park Ridge, IL earn a median of $125,254 per year (2026 est.), which is 6.64% lower than the national median of $134,160 and 3.90% below the Illinois state average of $130,337.
Cost-of-Living Adjusted Salary
Park Ridge has a cost of living 2.90% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Park Ridge, IL has a cost-of-living index of 97.1 (below the national average of 100). A actuary earning $125,254 nominally has purchasing power equivalent to $128,995 in an average-cost city — an effective 2.99% boost.
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2019 BLS Actual
$101,157
2025 BLS Actual
$121,370
2026 Current Est.
$125,254
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Park Ridge (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $101,157 | Actual |
| 2020 | $103,659 | Actual |
| 2021 | $98,870 | Actual |
| 2022 | $106,423 | Actual |
| 2023 | $112,034 | Actual |
| 2024 | $121,370 | Actual |
| 2025 | $121,370 | Actual |
| 2026(current) | $125,254 | Estimated |
| 2027 | $129,262 | Projected |
Based on 7 years of BLS OEWS data for the Park Ridge metropolitan area, the median actuary salary grew 20.0% from $101,157 (2019) to $121,370 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $129,262 by 2027 — a total increase of $28,105 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Park Ridge 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.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $81,870 – $97,432 |
| 3-5 years (Mid Career) | $97,432 – $125,254 |
| 5+ years (Experienced) | $125,254 – $158,458 |
| 10+ years (Top Earner) | $158,458 – $194,144 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Park Ridge
The local employment picture shows that only seven actuaries currently work in Park Ridge, suggesting a tight-knit community for professionals in this field. Given the cost of living index of 97.1, actuaries can enjoy a relatively favorable take-home purchasing power in contrast to the national average. Companies dealing in life insurance, such as Prudential and MetLife, tend to offer higher salaries for actuaries, while health care organizations like UnitedHealth and Cigna are also competitive. The variability in pay can be attributed to factors like exam progression, with each passed exam typically leading to an increase in base salary. Additionally, actuaries specializing in property and casualty insurance or consulting roles can look forward to greater earning potential. For those aiming to maximize pay, focusing on obtaining higher-level credentials or transitioning into consulting firms known for premium compensation can be highly beneficial in the Park Ridge market.
More salary data for Park Ridge, IL:
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
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $121,370 for actuariesin the Park Ridge metropolitan area. A 3.20% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Park Ridge 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