Actuary Salary in Providence, RI: $111,466 (2026)
Quick Answer:A full-time actuary in Providence, RI earns a median $111,466/year (≈ $53.59/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Providence's price level (2% above national, BEA RPP 101.8), that paycheck buys what $109,524 would nationally. Nominal pay sits 17.3% below the Rhode Island state average.
Official BLS data · View source
In 2026, actuaries in Providence, Rhode Island, can expect a median annual salary of $111,466, with a wide salary range from $62,137 at the 10th percentile to $207,504 at the 90th percentile. These figures are derived from official BLS OEWS surveys and illustrate the pay gradient between consultancy roles at firms like Milliman and Mercer versus positions within insurance companies. Actuary pay in Providence RI reflects a 16.92% disadvantage compared to the national median of $134,160, highlighting the competitive market forces at play. With 100 actuaries currently employed in the area, opportunities remain promising, though what employers ultimately offer is influenced by the local economic landscape.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $62,137 | $29.88 |
| Lower Range (P25) | $80,610 | $38.75 |
| Median (P50)(typical) | $111,466 | $53.59 |
| Upper Range (P75) | $155,399 | $74.71 |
| Top Earners (P90) | $207,504 | $99.76 |
Median Salary Position
16.92% below the national average
2026 Salary Percentile Distribution in Providence
In Providence, RI, the actuary salary spread from the 10th to 90th percentile is $145,367 (2026 est.). At $111,466, the local median is 16.92% below the national median of $134,160.
Salary Calculator
At 40 hours/week in Providence: You'd be in the lower-middle range
How Providence Actuary Pay Compares
Providence median: $111,466/year (2026)
| Compared To | Median Salary | Providence Pays |
|---|---|---|
| Rhode Island Average | $134,784 | -17.30% less |
| National Average | $134,160 | -16.92% less |
Actuarys in Providence, RI earn a median of $111,466 per year (2026 est.), which is 16.92% lower than the national median of $134,160 and 17.30% below the Rhode Island state average of $134,784.
Cost-of-Living Adjusted Salary
Providence has a cost of living 1.77% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Providence, RI has a cost-of-living index of 101.773 (above the national average of 100). While the nominal salary of $111,466 is competitive, the higher cost of living reduces purchasing power to an effective $109,524 — a 1.74% reduction.
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2019 BLS Actual
$100,080
2025 BLS Actual
$108,010
2026 Current Est.
$111,466
2019–2027 Growth
+14.9%
Salary Trajectory for Actuaries in Providence (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $100,080 | Actual |
| 2020 | $112,870 | Actual |
| 2021 | $80,290 | Actual |
| 2022 | $97,890 | Actual |
| 2023 | $104,910 | Actual |
| 2024 | $101,990 | Actual |
| 2025 | $108,010 | Actual |
| 2026(current) | $111,466 | Estimated |
| 2027 | $115,033 | Projected |
Based on 7 years of BLS OEWS data for the Providence metropolitan area, the median actuary salary grew 7.9% from $100,080 (2019) to $108,010 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $115,033 by 2027 — a total increase of $14,953 (14.94%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Providence 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) | $62,137 – $80,610 |
| 3-5 years (Mid Career) | $80,610 – $111,466 |
| 5+ years (Experienced) | $111,466 – $155,399 |
| 10+ years (Top Earner) | $155,399 – $207,504 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Providence
Delving into the local job market, the cost of living index in Providence sits at 101.773, indicating slightly above-average expenses, which can affect take-home pay relative to local purchasing power. Among local employers, firms in the consulting sector, particularly those hiring FSAs or FCAS, typically command higher salaries compared to traditional insurers, which still play an essential role in the market. The pay differentiation stems from various factors, including exam progression where each passed exam may yield an additional $3,000 to $8,000 increase in base salary. For actuaries looking to maximize their earnings in Providence, pursuing advanced credentials, focusing on high-demand specializations like property and casualty or consulting, and developing predictive analytics skills can significantly enhance compensation potential.
More salary data for Providence, RI:
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 $108,010 for actuariesin the Providence 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