Actuary Salary in Minneapolis, MN: $129,991 (2026)
Quick Answer:A full-time actuary in Minneapolis, MN earns a median $129,991/year (≈ $62.50/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Minneapolis's price level (5% above national, BEA RPP 104.8), that paycheck buys what $124,011 would nationally. Nominal pay sits 1.6% below the Minnesota state average.
Official BLS data · View source
In 2026, actuaries in Minneapolis, Minnesota can expect a median annual salary of $129,991, which is slightly below the national median of $134,160. This salary reflects a competitive pay structure among consulting firms such as Milliman and Mercer, compared to insurers. The salary range for actuaries in this city runs from $81,889 at the 10th percentile to $225,079 at the 90th percentile, indicating a significant pay gradient based on experience, credentialing, and specialization. These figures are derived from 2025 BLS OEWS data, projected to 2026, highlighting the financial potential for dynamic professionals in the actuarial field. Minneapolis's job market remains robust, paving the way for both aspiring and seasoned actuaries to thrive.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $81,889 | $39.37 |
| Lower Range (P25) | $97,514 | $46.88 |
| Median (P50)(typical) | $129,991 | $62.50 |
| Upper Range (P75) | $170,559 | $82.00 |
| Top Earners (P90) | $225,079 | $108.22 |
Median Salary Position
3.11% below the national average
2026 Salary Percentile Distribution in Minneapolis
In Minneapolis, MN, the actuary salary spread from the 10th to 90th percentile is $143,190 (2026 est.). At $129,991, the local median is 3.11% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Minneapolis: You'd be in the lower-middle range
How Minneapolis Actuary Pay Compares
Minneapolis median: $129,991/year (2026)
| Compared To | Median Salary | Minneapolis Pays |
|---|---|---|
| Minnesota Average | $132,104 | -1.60% less |
| National Average | $134,160 | -3.11% less |
Actuarys in Minneapolis, MN earn a median of $129,991 per year (2026 est.), which is 3.11% lower than the national median of $134,160 and 1.60% below the Minnesota state average of $132,104.
Cost-of-Living Adjusted Salary
Minneapolis has a cost of living 4.82% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Minneapolis, MN has a cost-of-living index of 104.822 (above the national average of 100). While the nominal salary of $129,991 is competitive, the higher cost of living reduces purchasing power to an effective $124,011 — a 4.6% reduction.
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2019 BLS Actual
$99,800
2025 BLS Actual
$125,960
2026 Current Est.
$129,991
2019–2027 Growth
+34.4%
Salary Trajectory for Actuaries in Minneapolis (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 | $109,190 | Actual |
| 2025 | $125,960 | Actual |
| 2026(current) | $129,991 | Estimated |
| 2027 | $134,150 | Projected |
Based on 7 years of BLS OEWS data for the Minneapolis metropolitan area, the median actuary salary grew 26.2% from $99,800 (2019) to $125,960 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $134,150 by 2027 — a total increase of $34,350 (34.42%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Minneapolis 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) | $81,889 – $97,514 |
| 3-5 years (Mid Career) | $97,514 – $129,991 |
| 5+ years (Experienced) | $129,991 – $170,559 |
| 10+ years (Top Earner) | $170,559 – $225,079 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Minneapolis
Situated in a thriving market with around 1,020 actuaries employed, Minneapolis also faces a cost-of-living index of 104.822, making its living expenses slightly above the national average. This implies that while salaries may offer a competitive edge, the overall purchasing power can be impacted by local expenses. Employers that tend to offer the highest actuary pay in Minneapolis include notable names in life insurance such as Northwestern Mutual and health insurers like UnitedHealth. Variations in salaries often arise from the exam progression, with each passed exam resulting in an incremental pay increase. Specialization in fields like property and casualty insurance or consulting can yield higher compensation, especially for FSAs and FCAS. To maximize earnings, actuaries should focus on exam completion, explore niche markets, and consider opportunities in consulting firms known for higher compensation structures.
More salary data for Minneapolis, 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 $125,960 for actuariesin the Minneapolis 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
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