Actuary Salary in Prior Lake, MN: $129,336 (2026)
Quick Answer:A full-time actuary in Prior Lake, MN earns a median $129,336/year (≈ $62.18/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Prior Lake's price level (1% below national, BEA RPP 98.5), that paycheck buys what $131,306 would nationally. Nominal pay sits 2.1% below the Minnesota state average.
Based on BLS state-level estimates · View source
With a projected median annual salary of $129,336 in 2026, actuaries in Prior Lake, Minnesota, can expect somewhat lower compensation compared to the national median of $134,160. Among the expected salary range, entry-level positions start at around $77,523, while established actuaries can earn up to $200,471, reflecting the market's bifurcation between various specialties. Prior Lake's actuary workforce is likely influenced by the mix of life and health versus property and casualty specialists within the local market, aligning with broader trends seen throughout the industry. The local estimates, derived from state-level BLS data and regional cost adjustments, paint a nuanced picture of the financial outlook for actuarial professionals in this growing community.
About the Prior Lake Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $77,523 | $37.27 |
| Lower Range (P25) | $95,527 | $45.92 |
| Median (P50)(typical) | $129,336 | $62.18 |
| Upper Range (P75) | $163,648 | $78.68 |
| Top Earners (P90) | $200,471 | $96.38 |
Median Salary Position
3.6% below the national average
2026 Salary Percentile Distribution in Prior Lake
In Prior Lake, MN, the actuary salary spread from the 10th to 90th percentile is $122,948 (2026 est.). At $129,336, the local median is 3.6% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Prior Lake: You'd be in the lower-middle range
How Prior Lake Actuary Pay Compares
Prior Lake median: $129,336/year (2026)
| Compared To | Median Salary | Prior Lake Pays |
|---|---|---|
| Minnesota Average | $132,111 | -2.10% less |
| National Average | $134,160 | -3.60% less |
Actuarys in Prior Lake, MN earn a median of $129,336 per year (2026 est.), which is 3.60% lower than the national median of $134,160 and 2.10% below the Minnesota state average of $132,111.
Cost-of-Living Adjusted Salary
Prior Lake 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.
Prior Lake, MN has a cost-of-living index of 98.5 (below the national average of 100). A actuary earning $129,336 nominally has purchasing power equivalent to $131,306 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$104,454
2025 BLS Actual
$125,326
2026 Current Est.
$129,336
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Prior Lake (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $104,454 | Actual |
| 2020 | $107,038 | Actual |
| 2021 | $102,092 | Actual |
| 2022 | $109,892 | Actual |
| 2023 | $115,686 | Actual |
| 2024 | $123,398 | Actual |
| 2025 | $125,326 | Actual |
| 2026(current) | $129,336 | Estimated |
| 2027 | $133,475 | Projected |
Based on 7 years of BLS OEWS data for the Prior Lake metropolitan area, the median actuary salary grew 20.0% from $104,454 (2019) to $125,326 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $133,475 by 2027 — a total increase of $29,021 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Prior Lake 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) | $77,523 – $95,527 |
| 3-5 years (Mid Career) | $95,527 – $129,336 |
| 5+ years (Experienced) | $129,336 – $163,648 |
| 10+ years (Top Earner) | $163,648 – $200,471 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Prior Lake
In Prior Lake, the employment landscape shows that there are only seven actuaries currently working, indicating a niche market. With a cost-of-living index of 98.5, the purchasing power available to these professionals allows them to maintain a comfortable lifestyle, though their salaries fall slightly below the national average. Prominent employers such as UnitedHealth, Prudential, and MetLife typically offer the most lucrative opportunities for actuaries. Factors influencing pay disparities include the progression through actuarial exams, with each exam passed often adding $3,000 to $8,000 to one's base salary. Notably, pursuing additional credentials, such as becoming a Fellow of the Society of Actuaries (FSA) or a Fellow of the Casualty Actuarial Society (FCAS), substantially enhances earning potential. For actuaries in Prior Lake, focusing on market demand, specializing in high-paying sectors, and pursuing continuous education can strategically elevate compensation in a competitive field.
More salary data for Prior Lake, 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 $125,326 for actuariesin the Prior Lake 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 Prior Lake 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