Actuary Salary in Faribault, MN: $124,830 (2026)
Quick Answer:A full-time actuary in Faribault, MN earns a median $124,830/year (≈ $60.01/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Faribault's price level (1% below national, BEA RPP 98.5), that paycheck buys what $126,731 would nationally. Nominal pay sits 5.5% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, actuaries in Faribault, Minnesota can expect a median annual salary of $124,830, which represents a slightly lower figure than the national average of $134,160. The salary range for this profession varies significantly, from $76,478 at the lower end to as high as $193,486 at the top 10%. These estimates, derived from 2025 BLS data and adjusted for regional price differences, underscore the importance of credential progression in this market. With only six actuaries currently employed in Faribault, competition for roles may not be as fierce; however, achieving higher salary brackets will depend heavily on exam performance and professional advancement within this tight-knit community.
About the Faribault Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $76,478 | $36.77 |
| Lower Range (P25) | $93,028 | $44.73 |
| Median (P50)(typical) | $124,830 | $60.01 |
| Upper Range (P75) | $159,782 | $76.82 |
| Top Earners (P90) | $193,486 | $93.02 |
Median Salary Position
6.95% below the national average
2026 Salary Percentile Distribution in Faribault
In Faribault, MN, the actuary salary spread from the 10th to 90th percentile is $117,008 (2026 est.). At $124,830, the local median is 6.95% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Faribault: You'd be in the lower-middle range
How Faribault Actuary Pay Compares
Faribault median: $124,830/year (2026)
| Compared To | Median Salary | Faribault Pays |
|---|---|---|
| Minnesota Average | $132,095 | -5.50% less |
| National Average | $134,160 | -6.95% less |
Actuarys in Faribault, MN earn a median of $124,830 per year (2026 est.), which is 6.95% lower than the national median of $134,160 and 5.50% below the Minnesota state average of $132,095.
Cost-of-Living Adjusted Salary
Faribault 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.
Faribault, MN has a cost-of-living index of 98.5 (below the national average of 100). A actuary earning $124,830 nominally has purchasing power equivalent to $126,731 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$100,815
2025 BLS Actual
$120,959
2026 Current Est.
$124,830
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Faribault (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $100,815 | Actual |
| 2020 | $103,308 | Actual |
| 2021 | $98,535 | Actual |
| 2022 | $106,062 | Actual |
| 2023 | $111,654 | Actual |
| 2024 | $119,098 | Actual |
| 2025 | $120,959 | Actual |
| 2026(current) | $124,830 | Estimated |
| 2027 | $128,824 | Projected |
Based on 7 years of BLS OEWS data for the Faribault metropolitan area, the median actuary salary grew 20.0% from $100,815 (2019) to $120,959 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $128,824 by 2027 — a total increase of $28,009 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Faribault 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) | $76,478 – $93,028 |
| 3-5 years (Mid Career) | $93,028 – $124,830 |
| 5+ years (Experienced) | $124,830 – $159,782 |
| 10+ years (Top Earner) | $159,782 – $193,486 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Faribault
Exam success is a critical factor in determining actuary pay in Faribault, MN, where each passed exam corresponds to an increase in salary. The local cost of living, indexed at 98.5, implies that take-home pay will stretch further than in many other regions, benefitting those who earn a quality income. Among the top payers in the area, health insurance firms like UnitedHealth and consulting companies such as Milliman seek credentialed actuaries with advanced qualifications. The salary variability largely hinges on the actuary's level of education, specialty field, and experience, with significant opportunities for bonuses and increased pay as one transitions from ASA to FSA designations. For aspiring actuaries, focusing on gaining skills in predictive analytics and data science, alongside achieving exams, can substantially elevate earning potential within this market.
More salary data for Faribault, 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 $120,959 for actuariesin the Faribault 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 Faribault 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