Actuary Salary in Springfield, IL: $121,353 (2026)
Quick Answer:A full-time actuary in Springfield, IL earns a median $121,353/year (≈ $58.34/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Springfield's price level (7% below national, BEA RPP 92.7), that paycheck buys what $130,846 would nationally. Nominal pay sits 6.8% below the Illinois state average.
Official BLS data · View source
In 2026, actuaries in Springfield, Illinois are expected to earn a median annual salary of $121,353, which reflects a 9.55% lower average compared to the national median of $134,160. The salary range extends from $79,247 at the 10th percentile to a top-tier $175,842 at the 90th percentile, highlighting the significant potential earnings based on experience and qualifications. This data is derived from official Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) surveys. The local job market shows an accommodating landscape for actuaries, especially for those advancing through the exam process, as each exam passed can substantially boost earnings.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $79,247 | $38.10 |
| Lower Range (P25) | $81,507 | $39.19 |
| Median (P50)(typical) | $121,353 | $58.34 |
| Upper Range (P75) | $146,121 | $70.25 |
| Top Earners (P90) | $175,842 | $84.54 |
Median Salary Position
9.55% below the national average
2026 Salary Percentile Distribution in Springfield
In Springfield, IL, the actuary salary spread from the 10th to 90th percentile is $96,595 (2026 est.). At $121,353, the local median is 9.55% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Springfield: You'd be in the lower-middle range
How Springfield Actuary Pay Compares
Springfield median: $121,353/year (2026)
| Compared To | Median Salary | Springfield Pays |
|---|---|---|
| Illinois Average | $130,207 | -6.80% less |
| National Average | $134,160 | -9.55% less |
Actuarys in Springfield, IL earn a median of $121,353 per year (2026 est.), which is 9.55% lower than the national median of $134,160 and 6.80% below the Illinois state average of $130,207.
Cost-of-Living Adjusted Salary
Springfield has a cost of living 7.25% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Springfield, IL has a cost-of-living index of 92.745 (below the national average of 100). A actuary earning $121,353 nominally has purchasing power equivalent to $130,846 in an average-cost city — an effective 7.82% boost.
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2019 BLS Actual
$98,007
2025 BLS Actual
$117,590
2026 Current Est.
$121,353
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Springfield (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $98,007 | Actual |
| 2020 | $100,431 | Actual |
| 2021 | $95,791 | Actual |
| 2022 | $101,320 | Actual |
| 2023 | $108,545 | Actual |
| 2024 | $124,988 | Actual |
| 2025 | $117,590 | Actual |
| 2026(current) | $121,353 | Estimated |
| 2027 | $125,236 | Projected |
Based on 7 years of BLS OEWS data for the Springfield metropolitan area, the median actuary salary grew 20.0% from $98,007 (2019) to $117,590 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $125,236 by 2027 — a total increase of $27,229 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Springfield 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) | $79,247 – $81,507 |
| 3-5 years (Mid Career) | $81,507 – $121,353 |
| 5+ years (Experienced) | $121,353 – $146,121 |
| 10+ years (Top Earner) | $146,121 – $175,842 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Springfield
With around 30 actuaries currently working in Springfield, the market provides a decent number of opportunities, although competition may be influenced by a cost of living index of 92.745, which suggests that salaries stretch a bit further than in many other areas. The most competitive pay tends to come from life insurance firms such as Prudential and MetLife, as well as major health insurance companies like UnitedHealth. The spread in salaries is driven by multiple factors, including progression through exams and attainment of credentials, such as the jump from ASA to FSA. Those engaged in property and casualty insurance or consulting often see higher compensation, reflecting the specialized skills and demands of these sectors. To maximize pay in this specific market, aspiring actuaries should focus on passing exams efficiently and consider gaining certifications in high-demand areas like predictive analytics or data science.
More salary data for Springfield, 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 $117,590 for actuariesin the Springfield 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
Source: BLS, OEWS, 3-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