Actuary Salary in Traverse City, MI: $118,329 (2026)
Quick Answer:A full-time actuary in Traverse City, MI earns a median $118,329/year (≈ $56.89/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Traverse City's price level (7% below national, BEA RPP 93.2), that paycheck buys what $126,962 would nationally. Nominal pay sits 5.4% below the Michigan state average.
Based on BLS state-level estimates · View source
In Traverse City, MI, actuaries can expect to earn a median annual salary of $118,329 in 2026, which reflects a notable premium compared to the local cost of living. The salary range for this profession stretches from $72,866 at the 10th percentile to $181,168 at the 90th percentile. These figures represent estimates based on 2025 BLS data, adjusted to account for regional differences in cost of living. Choosing between the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS) specialties can influence not just career paths but salary potential in Traverse City, as these markets offer differing average compensations.
About the Traverse City Market
Salary estimated from Michigan average ($120,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $72,866 | $35.04 |
| Lower Range (P25) | $88,453 | $42.53 |
| Median (P50)(typical) | $118,329 | $56.89 |
| Upper Range (P75) | $149,678 | $71.96 |
| Top Earners (P90) | $181,168 | $87.10 |
Median Salary Position
11.8% below the national average
2026 Salary Percentile Distribution in Traverse City
In Traverse City, MI, the actuary salary spread from the 10th to 90th percentile is $108,302 (2026 est.). At $118,329, the local median is 11.8% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Traverse City: You'd be in the lower-middle range
How Traverse City Actuary Pay Compares
Traverse City median: $118,329/year (2026)
| Compared To | Median Salary | Traverse City Pays |
|---|---|---|
| Michigan Average | $125,084 | -5.40% less |
| National Average | $134,160 | -11.80% less |
Actuarys in Traverse City, MI earn a median of $118,329 per year (2026 est.), which is 11.80% lower than the national median of $134,160 and 5.40% below the Michigan state average of $125,084.
Cost-of-Living Adjusted Salary
Traverse City 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.
Traverse City, MI has a cost-of-living index of 93.2 (below the national average of 100). A actuary earning $118,329 nominally has purchasing power equivalent to $126,962 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$95,565
2025 BLS Actual
$114,660
2026 Current Est.
$118,329
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Traverse City (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $95,565 | Actual |
| 2020 | $97,928 | Actual |
| 2021 | $93,404 | Actual |
| 2022 | $100,539 | Actual |
| 2023 | $105,840 | Actual |
| 2024 | $105,840 | Actual |
| 2025 | $114,660 | Actual |
| 2026(current) | $118,329 | Estimated |
| 2027 | $122,116 | Projected |
Based on 7 years of BLS OEWS data for the Traverse City metropolitan area, the median actuary salary grew 20.0% from $95,565 (2019) to $114,660 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $122,116 by 2027 — a total increase of $26,551 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Traverse City 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) | $72,866 – $88,453 |
| 3-5 years (Mid Career) | $88,453 – $118,329 |
| 5+ years (Experienced) | $118,329 – $149,678 |
| 10+ years (Top Earner) | $149,678 – $181,168 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Traverse City
Employment opportunities for actuaries in Traverse City are relatively limited, with only five actuaries reported in this area, which shapes a competitive environment despite fewer job openings. The cost of living index, at 93.2, suggests that purchasing power in the region is slightly lower than the national average. Among employers, those in the health insurance sector, such as UnitedHealth and Cigna, and consulting firms like Milliman or Mercer tend to offer higher salaries compared to life insurance companies. Factors that drive the disparity between low and high salaries include progress in exam completion, where each passed exam typically results in a salary increase, as well as the level of credentials achieved. To maximize earning potential, aspiring actuaries should focus on specialization, seek opportunities that offer study support, and consider consulting roles, which often provide more robust compensation for advanced credentials such as FSA or FCAS.
More salary data for Traverse City, MI:
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 $114,660 for actuariesin the Traverse City 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 Traverse City 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