Senior Actuary Salary in Chicago, IL: $215,956 (2026)
Quick Answer:The top tier of actuaries working in Chicago, IL — those at or above the 90th percentile — pull in $215,956/year or more for 2026, based on BLS OEWS 2025 estimates for SOC 15-2011. Strip back Chicago's price premium (BEA RPP 103.6, 4% above national) and that top-decile pay carries the same buying power as $208,462 in average-cost America. The 84% spread above city median typically rewards 7+ years of practice or specialty credentials.
Official BLS data · View source
In Chicago, experienced actuaries can expect significant salary potential, particularly at the senior level, where top earners may achieve salaries up to $215,956 in 2026. This peak represents an enticing gap compared to the median salary of $117,369. Moreover, the P75 earning level, estimated at $168,928, indicates that professionals in this market can substantially augment their compensation as they gain experience and enhance their expertise. Reaching these upper salary brackets typically requires a combination of advanced credentials, specialized skills, and a strategic focus on high-demand areas such as predictive analytics, capital modeling, or enterprise risk management. As a vibrant hub for insurance and consulting firms, Chicago offers numerous avenues for seasoned actuaries to maximize their earnings through targeted career advancements.
2026 Salary Percentile Distribution in Chicago
Experienced actuarys at the top of the pay scale in Chicago earn between $168,928 and $215,956 per year (2026 est.). This $133,768 range from 10th to 90th percentile reflects significant earnings potential growth over a career. The Chicago median of $117,369 sits 12.52% below the US median.
Top ASA, FSA Salary Comparison
| Level | Chicago | National |
|---|---|---|
| Median (P50) | $117,369 | $134,160 |
| 75th Percentile | $168,928 | $176,111 |
| 90th Percentile (Top 10%) | $215,956 | $221,983 |
In Chicago, experienced actuaries (P90) earn 84.00% more than the local median — reflecting the significant value of specialization and tenure in this market.
What Drives Top Actuary Pay in Chicago
Advanced Certifications in Illinois
IL actuaries with additional specialty certifications within the actuarial science field earn significantly above the $117,369 median. Expanded-scope credentials are increasingly valued by Chicago employers.
Specialty Focus
Actuaries focusing on high-acuity or specialty areas within the actuarial science field in Chicago command premium compensation, often reaching the $168,928–$215,956 range.
Large Health-System & Multi-Site Experience
Large hospital systems and multi-site employers in the Chicago metro area, which is a large ASA, FSA employment market, often pay above-market rates for experienced actuaries who demonstrate efficiency and leadership.
Employer Loyalty & Patient Relationships
Long-tenured actuaries in Chicago with established relationships have strong negotiating leverage. In this competitive market, retention bonuses and annual raises are common for top performers.
Continuing Education & Leadership
Actuaries in Illinois who pursue advanced degrees, mentor junior staff, or lead clinical education programs position themselves for the highest compensation tiers and management roles.
Actuary Career & Wage Growth Path in Chicago
Clinical Actuary
0-5 yearsSenior/Lead Actuary
5-10 yearsActuary Department Manager
10+ yearsEducator / Specialty Leadership
AdvancedChicago ranks #1 of 64 Illinois cities for top earner actuary salary (90th percentile: $215,956).
Top 10% actuary compensation in Chicago ($215,956) is 3.08% above the Illinois average P90 ($209,500).
2019 BLS Actual
$180,310
2025 BLS Actual
$209,260
2026 Current Est.
$215,956
2019–2027 Growth
+23.6%
Salary Trajectory for Actuaries in Chicago (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $180,310 | Actual |
| 2020 | $181,670 | Actual |
| 2021 | $168,220 | Actual |
| 2022 | $215,480 | Actual |
| 2023 | $229,970 | Actual |
| 2024 | $191,520 | Actual |
| 2025 | $209,260 | Actual |
| 2026(current) | $215,956 | Estimated |
| 2027 | $222,867 | Projected |
Top-earning actuaries (90th percentile) in Chicago saw their compensation grow 16.1% from $180,310 in 2019 to $209,260 in 2025, based on 7 years of BLS OEWS data for this metropolitan area. At a 3.20% annual growth rate, senior-level pay is projected to reach $222,867 by 2027, reflecting continued demand for clinical expertise and expanded-function credentials.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Chicago 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.
Maximizing Your Actuary Earnings in Chicago
Analysis of senior actuary pay in Illinois reveals a diverse salary landscape influenced by specialization and employer type. Actuaries focusing on life and annuity, property and casualty, or health insurance are well-positioned to command higher compensation compared to their peers. For instance, firms like Prudential and MetLife may offer more robust packages than typical health insurers. Consulting firms, such as Aon or Mercer, frequently pay a premium for Fellows (FSA/FCAS) due to their advanced skills and the competition for top talent. Career advancement paths, such as ascending from actuarial analyst to managing actuary or chief actuary, further contribute to salary growth. Additionally, non-salary compensation factors, including bonuses for exam completions, specialty market focus, and robust benefits for study time, play a critical role in enhancing the overall compensation for senior actuaries in Chicago.
More salary data for Chicago, IL:
Frequently Asked Questions
How much do experienced actuaries make in Chicago in 2026?
What drives higher actuary pay in Chicago?
What certifications boost actuary salary in Chicago?
Can experienced actuaries make six figures in Chicago?
How much does actuary salary increase over time in Chicago?
Related Pages
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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
Top-earner salary figures on this page are 2026 projections derived from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. BLS reported a 90th percentile salary of $209,260 for actuaries in the Chicago metro area. A 3.20% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 senior-level compensation. Individual earnings depend on certifications, specialization, practice type, and years of clinical experience.
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