Actuary Salary in Shakopee, MN: $127,994 (2026)
Quick Answer:A full-time actuary in Shakopee, MN earns a median $127,994/year (≈ $61.54/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Shakopee's price level (1% below national, BEA RPP 98.5), that paycheck buys what $129,943 would nationally. Nominal pay sits 3.1% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, actuaries working in Shakopee, Minnesota, can expect a median annual salary of $127,994, reflecting a modest variance when compared to the national median of $134,160. The projected salary range for these professionals in the area spans from $84,656 at the 10th percentile to $198,391 at the 90th percentile. Local salary estimates are based on 2025 BLS data, demonstrating how market conditions and regional price adjustments affect actuary pay in Shakopee. Those in life, health, and pension specialties typically find differing compensation structures compared to their property and casualty counterparts, suggesting a unique landscape for actuarial employment in this suburban setting.
About the Shakopee Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $84,656 | $40.70 |
| Lower Range (P25) | $100,698 | $48.41 |
| Median (P50)(typical) | $127,994 | $61.54 |
| Upper Range (P75) | $163,026 | $78.38 |
| Top Earners (P90) | $198,391 | $95.38 |
Median Salary Position
4.6% below the national average
2026 Salary Percentile Distribution in Shakopee
In Shakopee, MN, the actuary salary spread from the 10th to 90th percentile is $113,735 (2026 est.). At $127,994, the local median is 4.6% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Shakopee: You'd be in the lower-middle range
How Shakopee Actuary Pay Compares
Shakopee median: $127,994/year (2026)
| Compared To | Median Salary | Shakopee Pays |
|---|---|---|
| Minnesota Average | $132,089 | -3.10% less |
| National Average | $134,160 | -4.60% less |
Actuarys in Shakopee, MN earn a median of $127,994 per year (2026 est.), which is 4.60% lower than the national median of $134,160 and 3.10% below the Minnesota state average of $132,089.
Cost-of-Living Adjusted Salary
Shakopee 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.
Shakopee, MN has a cost-of-living index of 98.5 (below the national average of 100). A actuary earning $127,994 nominally has purchasing power equivalent to $129,943 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$103,370
2025 BLS Actual
$124,025
2026 Current Est.
$127,994
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Shakopee (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $103,370 | Actual |
| 2020 | $105,927 | Actual |
| 2021 | $101,033 | Actual |
| 2022 | $108,751 | Actual |
| 2023 | $114,485 | Actual |
| 2024 | $122,117 | Actual |
| 2025 | $124,025 | Actual |
| 2026(current) | $127,994 | Estimated |
| 2027 | $132,090 | Projected |
Based on 7 years of BLS OEWS data for the Shakopee metropolitan area, the median actuary salary grew 20.0% from $103,370 (2019) to $124,025 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $132,090 by 2027 — a total increase of $28,720 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Shakopee 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) | $84,656 – $100,698 |
| 3-5 years (Mid Career) | $100,698 – $127,994 |
| 5+ years (Experienced) | $127,994 – $163,026 |
| 10+ years (Top Earner) | $163,026 – $198,391 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Shakopee
With only 11 actuaries currently employed in Shakopee, competition for roles can be intense, making the local job market somewhat exclusive. The area's cost of living index, set at 98.5, indicates that spending power aligns closely with national averages, subtly affecting how much take-home pay translates into lifestyle. Major employers such as Prudential and UnitedHealth are among those likely offering competitive salaries for seasoned actuaries. The significant difference in pay levels is often driven by factors such as exam advancement, credential attainment, and specialization, with consulting firms tending to favor those with full Fellow status. Actuaries aiming to enhance their earning potential should focus on accelerating their exam progress while gaining skills in predictive modeling and data analytics, both of which are increasingly sought in Shakopee’s evolving market.
More salary data for Shakopee, 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 $124,025 for actuariesin the Shakopee 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 Shakopee 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