Actuary Salary in Royal Oak, MI: $123,505 (2026)
Quick Answer:A full-time actuary in Royal Oak, MI earns a median $123,505/year (≈ $59.38/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Royal Oak's price level (7% below national, BEA RPP 93.2), that paycheck buys what $132,516 would nationally. Nominal pay sits 1.2% below the Michigan state average.
Based on BLS state-level estimates · View source
Actuaries in Royal Oak, Michigan, are projected to earn a median salary of $123,505 in 2026, reflecting a localized adjustment based on regional economic conditions. The salary range for this profession in the area extends from $79,458 at the 10th percentile to $191,432 at the 90th percentile. These estimates derive from 2025 BLS data, incorporating state-level insights and regional cost adjustments. With salaries that trail the national average by about 7.94%, the compensation picture suggests that market demand for actuaries remains relatively stable, yet highlights potential earning gaps in comparison to other regions.
About the Royal Oak Market
Salary estimated from Michigan average ($120,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $79,458 | $38.20 |
| Lower Range (P25) | $95,580 | $45.95 |
| Median (P50)(typical) | $123,505 | $59.38 |
| Upper Range (P75) | $158,086 | $76.01 |
| Top Earners (P90) | $191,432 | $92.03 |
Median Salary Position
7.94% below the national average
2026 Salary Percentile Distribution in Royal Oak
In Royal Oak, MI, the actuary salary spread from the 10th to 90th percentile is $111,974 (2026 est.). At $123,505, the local median is 7.94% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Royal Oak: You'd be in the lower-middle range
How Royal Oak Actuary Pay Compares
Royal Oak median: $123,505/year (2026)
| Compared To | Median Salary | Royal Oak Pays |
|---|---|---|
| Michigan Average | $125,005 | -1.20% less |
| National Average | $134,160 | -7.94% less |
Actuarys in Royal Oak, MI earn a median of $123,505 per year (2026 est.), which is 7.94% lower than the national median of $134,160 and 1.20% below the Michigan state average of $125,005.
Cost-of-Living Adjusted Salary
Royal Oak has a cost of living 6.80% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Royal Oak, MI has a cost-of-living index of 93.2 (below the national average of 100). A actuary earning $123,505 nominally has purchasing power equivalent to $132,516 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$99,745
2025 BLS Actual
$119,675
2026 Current Est.
$123,505
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Royal Oak (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $99,745 | Actual |
| 2020 | $102,212 | Actual |
| 2021 | $97,489 | Actual |
| 2022 | $104,937 | Actual |
| 2023 | $110,469 | Actual |
| 2024 | $110,469 | Actual |
| 2025 | $119,675 | Actual |
| 2026(current) | $123,505 | Estimated |
| 2027 | $127,457 | Projected |
Based on 7 years of BLS OEWS data for the Royal Oak metropolitan area, the median actuary salary grew 20.0% from $99,745 (2019) to $119,675 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $127,457 by 2027 — a total increase of $27,712 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Royal Oak 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) | $79,458 – $95,580 |
| 3-5 years (Mid Career) | $95,580 – $123,505 |
| 5+ years (Experienced) | $123,505 – $158,086 |
| 10+ years (Top Earner) | $158,086 – $191,432 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Royal Oak
In Royal Oak, there are currently 12 actuaries employed, emphasizing a niche market within the profession. The local cost of living index, standing at 93.2, indicates a more affordable lifestyle compared to the national average, ultimately enhancing purchasing power for those in the field. Actuaries seeking to maximize their pay should focus on opportunities with prominent employers, such as life insurance firms like Prudential and property & casualty companies like State Farm. The significant disparity in earnings can often be attributed to the exam progression, where each passed exam equates to a potential pay increase of $3,000 to $8,000. Additionally, achieving fellow status (FSA/FCAS) may yield better compensation, particularly within consulting firms that prioritize advanced credentials. To boost their earnings further, actuaries in Royal Oak should also consider enhancing their skill sets in predictive analytics and data science, which are becoming increasingly valuable in the industry.
More salary data for Royal Oak, MI:
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 $119,675 for actuariesin the Royal Oak 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 Royal Oak 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