Actuary Salary in Richmond, IN: $119,198 (2026)
Quick Answer:A full-time actuary in Richmond, IN earns a median $119,198/year (≈ $57.31/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Richmond's price level (9% below national, BEA RPP 91.3), that paycheck buys what $130,556 would nationally. Nominal pay sits 2.7% below the Indiana state average.
Based on BLS state-level estimates · View source
In 2026, individuals in the actuarial profession in Richmond, Indiana are projected to earn a median annual salary of $119,198, reflecting a notable contrast to the national median of $134,160. The compensation landscape highlights a broad salary range from $69,937 at the lower end to $184,757 for those at the higher end, underscoring the wide variance depending on experience and specialization. These estimates, derived from 2025 BLS state-level data and adjusted for regional price parities, indicate that Richmond's job market is particularly favorable for actuaries seeking to grow their careers. Notably, the dynamics between consulting firms like Milliman, Mercer, and WTW may offer higher compensation compared to traditional insurers, especially for those reaching the FSA credential level.
About the Richmond Market
Salary estimated from Indiana average ($115,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $69,937 | $33.62 |
| Lower Range (P25) | $94,464 | $45.42 |
| Median (P50)(typical) | $119,198 | $57.31 |
| Upper Range (P75) | $152,488 | $73.31 |
| Top Earners (P90) | $184,757 | $88.82 |
Median Salary Position
11.15% below the national average
2026 Salary Percentile Distribution in Richmond
In Richmond, IN, the actuary salary spread from the 10th to 90th percentile is $114,820 (2026 est.). At $119,198, the local median is 11.15% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Richmond: You'd be in the lower-middle range
How Richmond Actuary Pay Compares
Richmond median: $119,198/year (2026)
| Compared To | Median Salary | Richmond Pays |
|---|---|---|
| Indiana Average | $122,506 | -2.70% less |
| National Average | $134,160 | -11.15% less |
Actuarys in Richmond, IN earn a median of $119,198 per year (2026 est.), which is 11.15% lower than the national median of $134,160 and 2.70% below the Indiana state average of $122,506.
Cost-of-Living Adjusted Salary
Richmond has a cost of living 8.70% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Richmond, IN has a cost-of-living index of 91.3 (below the national average of 100). A actuary earning $119,198 nominally has purchasing power equivalent to $130,556 in an average-cost city — an effective 9.53% boost.
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2019 BLS Actual
$96,266
2025 BLS Actual
$115,502
2026 Current Est.
$119,198
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Richmond (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $96,266 | Actual |
| 2020 | $98,648 | Actual |
| 2021 | $94,090 | Actual |
| 2022 | $101,277 | Actual |
| 2023 | $106,617 | Actual |
| 2024 | $102,175 | Actual |
| 2025 | $115,502 | Actual |
| 2026(current) | $119,198 | Estimated |
| 2027 | $123,012 | Projected |
Based on 7 years of BLS OEWS data for the Richmond metropolitan area, the median actuary salary grew 20.0% from $96,266 (2019) to $115,502 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $123,012 by 2027 — a total increase of $26,746 (27.78%) from 2019.
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.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $69,937 – $94,464 |
| 3-5 years (Mid Career) | $94,464 – $119,198 |
| 5+ years (Experienced) | $119,198 – $152,488 |
| 10+ years (Top Earner) | $152,488 – $184,757 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Richmond
The local job market in Richmond supports a small yet specialized group of seven actuaries, highlighting the niche demand for their expertise. With a cost-of-living index of 91.3, actuary pay in Richmond IN provides more purchasing power relative to many other regions, though it remains slightly below the national average. Major employers in the area comprise life insurance companies such as Prudential and health insurance firms like UnitedHealth and Cigna. The spread in salaries often reflects the rigor of exam progression—each exam passed can increase salary by $3,000 to $8,000. Actuaries pursuing the FSA designation or working in property and casualty consulting generally fare better financially, with the most significant salary boosts stemming from completed credential requirements and specialized skills in predictive analytics and data science. For individuals entering or advancing in this field, strategic exam planning and specialization in lucrative sectors are critical strategies for maximizing their actuarial pay in Richmond.
More salary data for Richmond, IN:
Frequently Asked Questions
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Related Pages
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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 $115,502 for actuariesin the Richmond 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 Richmond 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