Actuary Salary in Richmond, VA: $136,121 (2026)
Quick Answer:A full-time actuary in Richmond, VA earns a median $136,121/year (≈ $65.45/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Richmond's price level (2% below national, BEA RPP 97.9), that paycheck buys what $139,101 would nationally. Nominal pay sits 1.7% below the Virginia state average.
Official BLS data · View source
Richmond, Virginia, offers competitive compensation for actuaries, with a projected median annual salary of $136,121 in 2026, slightly above the national median of $134,160. The salary range for actuaries in the area spans from $96,740 at the 10th percentile to $219,548 at the 90th percentile, reflecting a diverse market dependent on experience and specialization. This data, derived from 2025 BLS OEWS surveys, indicates a strong demand for skilled professionals, particularly within consulting firms like Milliman and Mercer, which tend to offer higher pay than traditional insurance companies. The pay gradient in Richmond showcases the higher earnings associated with advanced credentials and exam completions, which serve as key differentiators in this local job market.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $96,740 | $46.51 |
| Lower Range (P25) | $103,602 | $49.81 |
| Median (P50)(typical) | $136,121 | $65.45 |
| Upper Range (P75) | $170,053 | $81.76 |
| Top Earners (P90) | $219,548 | $105.55 |
Median Salary Position
1.46% above the national average
2026 Salary Percentile Distribution in Richmond
In Richmond, VA, the actuary salary spread from the 10th to 90th percentile is $122,808 (2026 est.). At $136,121, the local median is 1.46% above the national median of $134,160.
Salary Calculator
At 40 hours/week in Richmond: You'd be in the lower-middle range
How Richmond Actuary Pay Compares
Richmond median: $136,121/year (2026)
| Compared To | Median Salary | Richmond Pays |
|---|---|---|
| Virginia Average | $138,475 | -1.70% less |
| National Average | $134,160 | +1.46% more |
Actuarys in Richmond, VA earn a median of $136,121 per year (2026 est.), which is 1.46% higher than the national median of $134,160 and 1.70% below the Virginia state average of $138,475.
Cost-of-Living Adjusted Salary
Richmond has a cost of living 2.14% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Richmond, VA has a cost-of-living index of 97.858 (below the national average of 100). A actuary earning $136,121 nominally has purchasing power equivalent to $139,101 in an average-cost city — an effective 2.19% boost.
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2019 BLS Actual
$137,720
2025 BLS Actual
$131,900
2026 Current Est.
$136,121
2019–2027 Growth
+2.0%
Salary Trajectory for Actuaries in Richmond (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $137,720 | Actual |
| 2020 | $112,653 | Actual |
| 2021 | $107,448 | Actual |
| 2022 | $107,310 | Actual |
| 2023 | $112,750 | Actual |
| 2024 | $130,360 | Actual |
| 2025 | $131,900 | Actual |
| 2026(current) | $136,121 | Estimated |
| 2027 | $140,477 | Projected |
Based on 7 years of BLS OEWS data for the Richmond metropolitan area, the median actuary salary grew -4.2% from $137,720 (2019) to $131,900 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $140,477 by 2027 — a total increase of $2,757 (2.00%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Richmond 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) | $96,740 – $103,602 |
| 3-5 years (Mid Career) | $103,602 – $136,121 |
| 5+ years (Experienced) | $136,121 – $170,053 |
| 10+ years (Top Earner) | $170,053 – $219,548 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Richmond
In Richmond, approximately 120 actuaries are currently employed, reflecting a stable job market within the region. With a cost-of-living index of 97.858, the purchasing power for actuaries may be enhanced, allowing for a more favorable lifestyle compared to many other metro areas. The highest-paying employers include major players in life and health insurance, such as Prudential and UnitedHealth, as well as consulting firms like Aon and WTW. The variation in salaries often stems from the level of credentials attained, with each passed exam resulting in potential salary increases ranging from $3,000 to $8,000. For actuaries looking to maximize their compensation in Richmond, it's advantageous to pursue specialized skills, particularly in predictive analytics, and to align with fields where pay is competitive, thereby increasing overall earning potential.
More salary data for Richmond, VA:
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 $131,900 for actuariesin the Richmond 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, 5-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