Actuary Salary in Springfield, MA: $121,910 (2026)
Quick Answer:A full-time actuary in Springfield, MA earns a median $121,910/year (≈ $58.62/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Springfield's price level (4% below national, BEA RPP 96.1), that paycheck buys what $126,909 would nationally. Nominal pay sits 16.2% below the Massachusetts state average.
Official BLS data · View source
In Springfield, Massachusetts, the actuarial profession is projected to offer a median salary of $121,910 in 2026, which reflects a notable deviation of approximately 9.13% below the national median of $134,160. The salary range for actuaries in this city varies significantly, with entry-level positions earning around $80,001 while seasoned professionals can command as much as $164,656, according to estimates based on 2025 BLS OEWS data. This range indicates a well-defined market that can reward experienced actuaries as they progress in their careers, especially in areas such as life, health, pension, and property and casualty specialties.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $80,001 | $38.46 |
| Lower Range (P25) | $100,992 | $48.56 |
| Median (P50)(typical) | $121,910 | $58.62 |
| Upper Range (P75) | $161,529 | $77.66 |
| Top Earners (P90) | $164,656 | $79.16 |
Median Salary Position
9.13% below the national average
2026 Salary Percentile Distribution in Springfield
In Springfield, MA, the actuary salary spread from the 10th to 90th percentile is $84,655 (2026 est.). At $121,910, the local median is 9.13% below the national median of $134,160.
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At 40 hours/week in Springfield: You'd be above the median
How Springfield Actuary Pay Compares
Springfield median: $121,910/year (2026)
| Compared To | Median Salary | Springfield Pays |
|---|---|---|
| Massachusetts Average | $145,478 | -16.20% less |
| National Average | $134,160 | -9.13% less |
Actuarys in Springfield, MA earn a median of $121,910 per year (2026 est.), which is 9.13% lower than the national median of $134,160 and 16.20% below the Massachusetts state average of $145,478.
Cost-of-Living Adjusted Salary
Springfield has a cost of living 3.94% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Springfield, MA has a cost-of-living index of 96.061 (below the national average of 100). A actuary earning $121,910 nominally has purchasing power equivalent to $126,909 in an average-cost city — an effective 4.1% boost.
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2019 BLS Actual
$98,457
2025 BLS Actual
$118,130
2026 Current Est.
$121,910
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 | $98,457 | Actual |
| 2020 | $100,892 | Actual |
| 2021 | $131,690 | Actual |
| 2022 | $143,020 | Actual |
| 2023 | $149,790 | Actual |
| 2024 | $92,730 | Actual |
| 2025 | $118,130 | Actual |
| 2026(current) | $121,910 | Estimated |
| 2027 | $125,811 | Projected |
Based on 7 years of BLS OEWS data for the Springfield metropolitan area, the median actuary salary grew 20.0% from $98,457 (2019) to $118,130 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $125,811 by 2027 — a total increase of $27,354 (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) | $80,001 – $100,992 |
| 3-5 years (Mid Career) | $100,992 – $121,910 |
| 5+ years (Experienced) | $121,910 – $161,529 |
| 10+ years (Top Earner) | $161,529 – $164,656 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Springfield
Local demand for actuaries remains stable, driven by a mix of consulting firms and insurance companies operating in the Springfield area. With a cost-of-living index of 96.061, actuaries in Springfield enjoy a relatively affordable lifestyle, allowing their salaries to stretch further than in many urban centers. Firms like Prudential and MetLife are among the highest payers in the life insurance sector, while UnitedHealth and Cigna stand out in health insurance. A key factor influencing salary variations lies in the completion of formal exams; each passed exam typically adds between $3,000 and $8,000 to an actuary's base salary. Candidates looking to maximize actuary pay in Springfield should consider focusing on the demanding data science skills and predictive analytics that are increasingly in demand, as these competencies can lead to higher compensation, particularly with consulting firms that seek FSAs and FCAS designations.
More salary data for Springfield, MA:
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 $118,130 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, 5-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