Actuary Salary in Waukegan, IL: $130,457 (2026)
Quick Answer:A full-time actuary in Waukegan, IL earns a median $130,457/year (≈ $62.72/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Waukegan's price level (3% below national, BEA RPP 97.1), that paycheck buys what $134,353 would nationally. Nominal pay sits 0.1% above the Illinois state average.
Based on BLS state-level estimates · View source
In Waukegan, Illinois, actuary compensation is marked by a median annual salary of $130,457 for 2026, reflecting a competitive market driven partly by the differences in pay between consulting firms and insurers at the FSA level. The salary range varies significantly, from $76,517 at the 10th percentile to as high as $202,209 for those at the 90th percentile. These figures are derived from 2025 BLS data, projected to 2026, and adjusted for local cost considerations. The market in Waukegan suggests that actuaries with advanced credentials and those specializing in high-demand areas, such as property and casualty reinsurance or consulting, may leverage their expertise to secure higher salaries.
About the Waukegan Market
Salary estimated from Illinois average ($130,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $76,517 | $36.79 |
| Lower Range (P25) | $95,300 | $45.82 |
| Median (P50)(typical) | $130,457 | $62.72 |
| Upper Range (P75) | $166,985 | $80.28 |
| Top Earners (P90) | $202,209 | $97.21 |
Median Salary Position
2.76% below the national average
2026 Salary Percentile Distribution in Waukegan
In Waukegan, IL, the actuary salary spread from the 10th to 90th percentile is $125,692 (2026 est.). At $130,457, the local median is 2.76% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Waukegan: You'd be in the lower-middle range
How Waukegan Actuary Pay Compares
Waukegan median: $130,457/year (2026)
| Compared To | Median Salary | Waukegan Pays |
|---|---|---|
| Illinois Average | $130,327 | +0.10% more |
| National Average | $134,160 | -2.76% less |
Actuarys in Waukegan, IL earn a median of $130,457 per year (2026 est.), which is 2.76% lower than the national median of $134,160 and 0.10% above the Illinois state average of $130,327.
Cost-of-Living Adjusted Salary
Waukegan 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.
Waukegan, IL has a cost-of-living index of 97.1 (below the national average of 100). A actuary earning $130,457 nominally has purchasing power equivalent to $134,353 in an average-cost city — an effective 2.99% boost.
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2019 BLS Actual
$105,360
2025 BLS Actual
$126,412
2026 Current Est.
$130,457
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Waukegan (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $105,360 | Actual |
| 2020 | $107,966 | Actual |
| 2021 | $102,977 | Actual |
| 2022 | $110,844 | Actual |
| 2023 | $116,688 | Actual |
| 2024 | $126,412 | Actual |
| 2025 | $126,412 | Actual |
| 2026(current) | $130,457 | Estimated |
| 2027 | $134,632 | Projected |
Based on 7 years of BLS OEWS data for the Waukegan metropolitan area, the median actuary salary grew 20.0% from $105,360 (2019) to $126,412 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $134,632 by 2027 — a total increase of $29,272 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Waukegan 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) | $76,517 – $95,300 |
| 3-5 years (Mid Career) | $95,300 – $130,457 |
| 5+ years (Experienced) | $130,457 – $166,985 |
| 10+ years (Top Earner) | $166,985 – $202,209 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Waukegan
With only 18 actuaries currently employed in Waukegan, the local job market remains tight, reflecting a strong demand for actuarial skills. The cost of living index sits at 97.1, slightly below the national average, which means that while salaries may be lower than the national norm, the purchasing power for actuaries is relatively stable. Employers like Prudential, MetLife, and UnitedHealth dominate the payrolls, especially those offering competitive packages including bonuses for exam completion and robust benefits. The discrepancy in salaries can be attributed to various factors including exam progression—where each passed exam can increase earning potential by $3,000 to $8,000—and the nature of the work, with consulting firms typically offering higher wages for seasoned actuaries. For those aiming to boost their earnings in Waukegan, pursuing further credentials and specializing in lucrative sectors such as P&C insurance or consulting can prove advantageous for maximizing their actuary pay in Waukegan, IL.
More salary data for Waukegan, 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 $126,412 for actuariesin the Waukegan 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 Waukegan 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