Senior Actuary Salary in Andover, MN: $197,389 (2026)
Quick Answer:The top tier of actuaries working in Andover, MN — those at or above the 90th percentile — pull in $197,389/year or more for 2026, based on BLS OEWS 2025 estimates for SOC 15-2011. Strip back Andover's price premium (BEA RPP 98.5, 1% below national) and that top-decile pay carries the same buying power as $200,395 in average-cost America. The 55% spread above city median typically rewards 7+ years of practice or specialty credentials.
Based on BLS state-level estimates · View source
Salaries for experienced actuaries in Andover, Minnesota, are poised for significant growth in 2026, with top earners in the field able to command a remarkable $197,389 annually at the 90th percentile. This competitive figure is enhanced by the 75th percentile salary of $163,005, which highlights the distinct income potential for senior professionals. The median annual salary of $127,348 indicates a substantial gap that rewards those who achieve advanced certifications and specialize in areas demanding higher expertise. Navigating the intricacies of actuarial science while obtaining credentials such as ASA or FSA can set experienced actuaries on a path toward these upper compensation tiers. Those who invest in deepening their skills can expect financial returns that reflect their expertise and contributions within the industry.
About the Andover Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
2026 Salary Percentile Distribution in Andover
Experienced actuarys at the top of the pay scale in Andover earn between $163,005 and $197,389 per year (2026 est.). This $113,680 range from 10th to 90th percentile reflects significant earnings potential growth over a career. The Andover median of $127,348 sits 5.08% below the US median.
Top ASA, FSA Salary Comparison
| Level | Andover | National |
|---|---|---|
| Median (P50) | $127,348 | $134,160 |
| 75th Percentile | $163,005 | $176,111 |
| 90th Percentile (Top 10%) | $197,389 | $221,983 |
In Andover, experienced actuaries (P90) earn 55.00% more than the local median — reflecting the significant value of specialization and tenure in this market.
What Drives Top Actuary Pay in Andover
Advanced Certifications in Minnesota
MN actuaries with additional specialty certifications within the actuarial science field earn significantly above the $127,348 median. Expanded-scope credentials are increasingly valued by Andover employers.
Specialty Focus
Actuaries focusing on high-acuity or specialty areas within the actuarial science field in Andover command premium compensation, often reaching the $163,005–$197,389 range.
Large Health-System & Multi-Site Experience
Large hospital systems and multi-site employers in the Andover metro area often pay above-market rates for experienced actuaries who demonstrate efficiency and leadership.
Employer Loyalty & Patient Relationships
Long-tenured actuaries in Andover with established relationships have strong negotiating leverage. In this developing market, retention bonuses and annual raises are common for top performers.
Continuing Education & Leadership
Actuaries in Minnesota 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 Andover
Clinical Actuary
0-5 yearsSenior/Lead Actuary
5-10 yearsActuary Department Manager
10+ yearsEducator / Specialty Leadership
AdvancedAndover ranks #33 of 44 Minnesota cities for top earner actuary salary (90th percentile: $197,389).
Top 10% actuary compensation in Andover ($197,389) is 9.03% below the Minnesota average P90 ($216,990).
2019 BLS Actual
$172,150
2025 BLS Actual
$191,268
2026 Current Est.
$197,389
2019–2027 Growth
+18.3%
Salary Trajectory for Actuaries in Andover (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $172,150 | Actual |
| 2020 | $174,293 | Actual |
| 2021 | $183,905 | Actual |
| 2022 | $177,219 | Actual |
| 2023 | $186,120 | Actual |
| 2024 | $188,325 | Actual |
| 2025 | $191,268 | Actual |
| 2026(current) | $197,389 | Estimated |
| 2027 | $203,705 | Projected |
Top-earning actuaries (90th percentile) in Andover saw their compensation grow 11.1% from $172,150 in 2019 to $191,268 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 $203,705 by 2027, reflecting continued demand for clinical expertise and expanded-function credentials.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Andover 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 Andover
In Andover, various areas of specialization allow senior actuaries to enhance their earning potential significantly. For instance, actuaries focusing on life and annuity, health, and property & casualty insurance often secure premium pay, particularly with the growing importance of predictive analytics and data science in risk assessment. Compensation markedly varies across employers; while life insurance firms like Prudential and health insurers such as UnitedHealth offer competitive salaries, reinsurance companies like Munich Re may provide even higher compensation packages due to the complexity of their actuarial needs. Furthermore, the pathway from actuarial analyst to chief actuary or consulting practice principal is well defined; it typically includes the attainment of the ASA and, subsequently, the FSA designations. In this context, advanced credentials not only bolster salary figures but also enhance long-term career prospects. Non-salary compensation aspects, such as study time benefits and signing bonuses tied to credential completion, further sweeten the deal for actuaries in Andover, reinforcing the value of continued professional development in the industry.
More salary data for Andover, MN:
Frequently Asked Questions
How much do experienced actuaries make in Andover in 2026?
What drives higher actuary pay in Andover?
What certifications boost actuary salary in Andover?
Can experienced actuaries make six figures in Andover?
How much does actuary salary increase over time in Andover?
Related Pages
Compare Salaries
Career Resources
Nearby Cities in Minnesota
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 $191,268 for actuaries in the Andover 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
Salary data for Andover 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