Actuary Salary in Minnesota: $129,820 (2026)
Quick Answer:Across Minnesota's 44 metropolitan areas, the average median actuary pay sits at $129,820/year heading into 2026 — a figure projected from 2025 BLS OEWS wage data for SOC 15-2011. Because Minnesota sits at BEA RPP 98.5 (1% below the U.S. baseline), that statewide median translates to roughly $131,797 in nationally-comparable purchasing power. Highest-paying metros: Maple Grove ($129,787), Woodbury ($129,736), Eden Prairie ($129,614).
In Minnesota, actuary salaries in 2026 will average a median of $129,820, which is slightly below the national median of $134,160 by 3.2%. The highest salaries are found in Maple Grove, where actuaries can expect to earn $133,940, while those in Faribault can anticipate $124,830, illustrating a salary gap of $9,110 between these cities. This difference can be driven by factors such as the concentration of financial services in metropolitan areas, cost of living variations, and local demand for actuarial expertise. Minnesota has specific licensing requirements and scope of practice laws that can influence salary expectations. The state is experiencing a projected annual growth rate of 3.20%, reflecting strong demand for actuaries as businesses, healthcare providers, and insurance companies seek to manage risk and navigate regulatory complexities. With a total employment of 1,526 actuaries, cities like Woodbury ($133,888), Eden Prairie ($133,762), Duluth ($133,270), and Rochester ($133,026) also present opportunities for higher salaries, reflecting the diverse job market in Minnesota. Those considering a career in this field can find ongoing potential for advancement and stability in an increasingly complex economic landscape.
Minnesota Actuary Salary Range
Overall salary range in Minnesota: $74,076 (lowest entry-level) to $225,079 (highest top earner)
Minnesota vs National Average
Minnesota actuaries earn 3.23% less than the national median ($-4,340/year difference).
Minnesota Actuary Salary Distribution (2026)
Actuary salaries in Minnesota range from $81,103 (entry-level, 10th percentile) to $216,990 (top earners, 90th percentile), with a median of $129,820. The Minnesota median is $4,340 below the US national median of $134,160. The average hourly rate is $62.42/hr. Approximately 1,526 actuarys are employed across 44 cities.
2019 BLS Actual
$99,800
2025 BLS Actual
$125,795
2026 Current Est.
$129,820
2019–2027 Growth
+34.2%
Salary Trajectory for Actuaries in Minnesota (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $99,800 | Actual |
| 2020 | $102,850 | Actual |
| 2021 | $103,010 | Actual |
| 2022 | $106,350 | Actual |
| 2023 | $104,020 | Actual |
| 2024 | $115,507 | Actual |
| 2025 | $125,795 | Actual |
| 2026(current) | $129,820 | Estimated |
| 2027 | $133,975 | Projected |
Based on 7 years of BLS OEWS data for the Minnesota metropolitan area, the median actuary salary grew 26.0% from $99,800 (2019) to $125,795 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $133,975 by 2027 — a total increase of $34,175 (34.24%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Minnesota 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.
Top 5 Highest Paying Cities in Minnesota
Lowest Paying Cities in Minnesota
Best Value Cities for Actuaries in Minnesota
When adjusted for local cost of living, these Minnesota cities offer the most purchasing power for actuaries.
| City | Nominal Salary | CoL Index | Adjusted Salary |
|---|---|---|---|
| Maple Grove | $133,940 | 98.5 | $135,980 |
| Woodbury | $133,888 | 98.5 | $135,927 |
| Eden Prairie | $133,762 | 98.5 | $135,799 |
| Duluth | $133,270 | 98.5 | $135,299 |
| Rochester | $133,026 | 98.5 | $135,052 |
Adjusted salary = nominal salary × (100 / CoL index). CoL index: 100 = national average. Lower index = lower cost of living.
Salary by Experience Level in Minnesota
| Experience Level | Estimated Annual |
|---|---|
| Entry Level (0-2 years) | $81,103 |
| Mid Career (3-7 years) | $129,820 |
| Experienced (7+ years) | $216,990 |
Estimates based on BLS percentile data averaged across Minnesota metro areas. Individual pay varies by employer, certifications, and specialization.
All 44 Cities in Minnesota
| # | City | Median Salary |
|---|---|---|
| 1 | Maple Grove | $133,940 |
| 2 | Woodbury | $133,888 |
| 3 | Eden Prairie | $133,762 |
| 4 | Duluth | $133,270 |
| 5 | Rochester | $133,026 |
| 6 | Owatonna | $131,183 |
| 7 | St. Cloud | $131,176 |
| 8 | Brooklyn Park | $131,009 |
| 9 | Plymouth | $130,779 |
| 10 | Roseville | $130,701 |
| 11 | Chaska | $130,599 |
| 12 | Minnetonka | $130,570 |
| 13 | Cottage Grove | $130,424 |
| 14 | Burnsville | $130,319 |
| 15 | Minneapolis | $129,991 |
| 16 | Lakeville | $129,837 |
| 17 | Chanhassen | $129,747 |
| 18 | Inver Grove Heights | $129,542 |
| 19 | Eagan | $129,523 |
| 20 | Brooklyn Center | $129,490 |
| 21 | Elk River | $129,471 |
| 22 | Prior Lake | $129,336 |
| 23 | Ramsey | $128,865 |
| 24 | St. Paul | $128,685 |
| 25 | Blaine | $128,320 |
| 26 | Apple Valley | $128,121 |
| 27 | Shakopee | $127,994 |
| 28 | Coon Rapids | $127,974 |
| 29 | Savage | $127,768 |
| 30 | Edina | $127,754 |
| 31 | Bloomington | $127,687 |
| 32 | Maplewood | $127,378 |
| 33 | Andover | $127,348 |
| 34 | Richfield | $127,286 |
| 35 | St. Louis Park | $127,276 |
| 36 | Moorhead | $127,091 |
| 37 | Mankato | $127,060 |
| 38 | Northfield | $126,171 |
| 39 | Hastings | $125,903 |
| 40 | Fridley | $125,337 |
| 41 | Winona | $125,235 |
| 42 | Shoreview | $125,184 |
| 43 | Austin | $124,989 |
| 44 | Faribault | $124,830 |
More Minnesota Salary Data
Senior / Experienced
Top earner salaries for experienced actuaries.
Compare Cities in Minnesota
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Frequently Asked Questions
How much do actuaries make in Minnesota in 2026?
What is the highest paying city for actuaries in Minnesota?
How does Minnesota actuary pay compare to the national average?
What is the entry-level actuary salary in Minnesota?
How many actuaries are employed in Minnesota?
Which Minnesota city offers the best value for actuaries?
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
Statewide 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. A 3.20% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to each metro area's reported salary to estimate current 2026 actuary compensation across Minnesota. State averages are employment-weighted across 44 metro areas — larger metro areas with more actuariescontribute proportionally more to the average, producing figures that better reflect typical compensation. Individual pay varies by city, employer, certifications, and experience.
Data Sources & Methodology
Source: BLS, OEWS, 7-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