Senior Actuary Salary in Faribault, MN: $193,486 (2026)
Quick Answer:The top tier of actuaries working in Faribault, MN — those at or above the 90th percentile — pull in $193,486/year or more for 2026, based on BLS OEWS 2025 estimates for SOC 15-2011. Strip back Faribault's price premium (BEA RPP 98.5, 1% below national) and that top-decile pay carries the same buying power as $196,432 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
In Faribault, Minnesota, an experienced actuary's earning potential reflects a significant opportunity for seasoned professionals seeking advanced roles in the field. With a projected median annual salary of $124,830 in 2026, top earners in this market can aspire to reach as high as $193,486, marking a substantial gap that rewards tenure and expertise. This impressive pay can be attributed to the increasing complexity of risk assessment, data analysis, and actuarial solutions tailored to meet diverse business needs. Professionals who aim for such top-tier compensation will often engage in continuous education and mastery of niche specialties, establishing themselves as invaluable assets within their organizations.
About the Faribault Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
2026 Salary Percentile Distribution in Faribault
Experienced actuarys at the top of the pay scale in Faribault earn between $159,782 and $193,486 per year (2026 est.). This $117,008 range from 10th to 90th percentile reflects significant earnings potential growth over a career. The Faribault median of $124,830 sits 6.95% below the US median.
Top ASA, FSA Salary Comparison
| Level | Faribault | National |
|---|---|---|
| Median (P50) | $124,830 | $134,160 |
| 75th Percentile | $159,782 | $176,111 |
| 90th Percentile (Top 10%) | $193,486 | $221,983 |
In Faribault, 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 Faribault
Advanced Certifications in Minnesota
MN actuaries with additional specialty certifications within the actuarial science field earn significantly above the $124,830 median. Expanded-scope credentials are increasingly valued by Faribault employers.
Specialty Focus
Actuaries focusing on high-acuity or specialty areas within the actuarial science field in Faribault command premium compensation, often reaching the $159,782–$193,486 range.
Large Health-System & Multi-Site Experience
Large hospital systems and multi-site employers in the Faribault metro area often pay above-market rates for experienced actuaries who demonstrate efficiency and leadership.
Employer Loyalty & Patient Relationships
Long-tenured actuaries in Faribault 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 Faribault
Clinical Actuary
0-5 yearsSenior/Lead Actuary
5-10 yearsActuary Department Manager
10+ yearsEducator / Specialty Leadership
AdvancedFaribault ranks #44 of 44 Minnesota cities for top earner actuary salary (90th percentile: $193,486).
Top 10% actuary compensation in Faribault ($193,486) is 10.83% below the Minnesota average P90 ($216,990).
2019 BLS Actual
$168,746
2025 BLS Actual
$187,486
2026 Current Est.
$193,486
2019–2027 Growth
+18.3%
Salary Trajectory for Actuaries in Faribault (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $168,746 | Actual |
| 2020 | $170,847 | Actual |
| 2021 | $180,269 | Actual |
| 2022 | $173,714 | Actual |
| 2023 | $182,439 | Actual |
| 2024 | $184,602 | Actual |
| 2025 | $187,486 | Actual |
| 2026(current) | $193,486 | Estimated |
| 2027 | $199,677 | Projected |
Top-earning actuaries (90th percentile) in Faribault saw their compensation grow 11.1% from $168,746 in 2019 to $187,486 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 $199,677 by 2027, reflecting continued demand for clinical expertise and expanded-function credentials.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Faribault 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 Faribault
Senior actuary pay in MN varies based on specialization and the nature of the employer, particularly in a city like Faribault. Individuals working in life and annuity, health insurance, or property and casualty sectors typically secure higher salaries, especially at prominent firms such as Prudential or UnitedHealth. In contrast, consulting firms like Mercer and Aon often provide incentives for advanced credentials, including the FSA designation, which can lead to lucrative consulting opportunities. Career advancement pathways are well-defined, moving from actuarial analyst to more senior roles such as managing actuary or chief actuary, with each credential and exam passed contributing to salary increments. Candidates who complete the ASA-to-FSA process, which spans five to eight years and includes rigorous examinations, position themselves favorably in terms of salary and leadership opportunities, thereby enhancing the overall compensation package in this vibrant market.
More salary data for Faribault, MN:
Frequently Asked Questions
How much do experienced actuaries make in Faribault in 2026?
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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 $187,486 for actuaries in the Faribault 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 Faribault 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