Actuary Salary in Andover, MN: $127,348 (2026)
Quick Answer:A full-time actuary in Andover, MN earns a median $127,348/year (≈ $61.23/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Andover's price level (1% below national, BEA RPP 98.5), that paycheck buys what $129,287 would nationally. Nominal pay sits 3.6% below the Minnesota state average.
Based on BLS state-level estimates · View source
Actuaries in Andover, MN, can expect a median annual salary of $127,348 in 2026, a figure slightly below the national average of $134,160. The local salary range for this profession extends from $83,709 at the 10th percentile to $197,389 at the 90th percentile. These figures, derived from 2025 BLS data and adjusted for regional price differences, highlight the competitive nature of actuary pay in Andover. With a small population of actuaries in the area—only eight employed—it reflects a niche market where specialized skills are highly valued, particularly for those progressing through the exam ladder and advancing their credentials.
About the Andover Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $83,709 | $40.25 |
| Lower Range (P25) | $99,408 | $47.79 |
| Median (P50)(typical) | $127,348 | $61.23 |
| Upper Range (P75) | $163,005 | $78.37 |
| Top Earners (P90) | $197,389 | $94.90 |
Median Salary Position
5.08% below the national average
2026 Salary Percentile Distribution in Andover
In Andover, MN, the actuary salary spread from the 10th to 90th percentile is $113,680 (2026 est.). At $127,348, the local median is 5.08% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Andover: You'd be in the lower-middle range
How Andover Actuary Pay Compares
Andover median: $127,348/year (2026)
| Compared To | Median Salary | Andover Pays |
|---|---|---|
| Minnesota Average | $132,103 | -3.60% less |
| National Average | $134,160 | -5.08% less |
Actuarys in Andover, MN earn a median of $127,348 per year (2026 est.), which is 5.08% lower than the national median of $134,160 and 3.60% below the Minnesota state average of $132,103.
Cost-of-Living Adjusted Salary
Andover has a cost of living 1.50% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Andover, MN has a cost-of-living index of 98.5 (below the national average of 100). A actuary earning $127,348 nominally has purchasing power equivalent to $129,287 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$102,848
2025 BLS Actual
$123,399
2026 Current Est.
$127,348
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Andover (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $102,848 | Actual |
| 2020 | $105,392 | Actual |
| 2021 | $100,523 | Actual |
| 2022 | $108,202 | Actual |
| 2023 | $113,907 | Actual |
| 2024 | $121,500 | Actual |
| 2025 | $123,399 | Actual |
| 2026(current) | $127,348 | Estimated |
| 2027 | $131,423 | Projected |
Based on 7 years of BLS OEWS data for the Andover metropolitan area, the median actuary salary grew 20.0% from $102,848 (2019) to $123,399 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $131,423 by 2027 — a total increase of $28,575 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Andover 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) | $83,709 – $99,408 |
| 3-5 years (Mid Career) | $99,408 – $127,348 |
| 5+ years (Experienced) | $127,348 – $163,005 |
| 10+ years (Top Earner) | $163,005 – $197,389 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Andover
In terms of job market dynamics, the cost of living index in Andover is 98.5, indicating a lower-than-average living expense, which positively affects purchasing power for actuaries. Among local employers, major life insurance companies such as Prudential and MetLife tend to offer competitive salaries, while health insurance firms and consulting firms might provide robust compensation packages as well. The significant variance between low and high salaries in the area often stems from exam progression, where each passed exam can lead to notable pay increases. Credential levels play a role in this too, with fellows in the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS) generally commanding higher wages. For actuaries looking to maximize their pay in Andover, focusing on passing additional exams, pursuing advanced certifications, and considering opportunities in life insurance and consulting sectors will be key strategies for career advancement.
More salary data for Andover, MN:
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 $123,399 for actuariesin the Andover 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 Andover 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