SalaryNode

Average Actuaries Salary in Baltimore-Columbia-Towson, MD

Actuaries in the Baltimore-Columbia-Towson, MD metropolitan area earn an average annual salary of $133,600. This figure is slightly below the national average of $135,770, suggesting a nuanced compensation landscape. Local market dynamics, including demand and the concentration of actuarial roles, likely influence this pay scale.

Executive Summary

  • Average Salary: $133,600 per year.
  • Growth Trend: Salaries have shifted 4.5% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $191,880.
  • Outlook: The Baltimore-Columbia-Towson actuarial job market, with a total local workforce of 320 professionals, indicates a stable, albeit specialized, demand. The Location Quotient of 1.3 signifies a higher concentration of actuaries compared to the national average, suggesting that the region supports a robust ecosystem for these professionals.
2024 Market Data

Salary Overview

$133,600

The average Actuaries in Baltimore-Columbia-Towson, MD earns-1.6%below the national average.

BreakdownBased on 40h/week
Hourly

$64.2

Weekly

$2,569

Monthly

$11,133

Actuaries Salary Distribution in Baltimore-Columbia-Towson, MD

Salary progression for actuaries is strongly tied to experience and professional development. Entry-level positions typically command lower salaries, while seasoned actuaries with advanced certifications and specialized expertise can earn significantly more, often reaching the upper percentiles. The gap between entry-level and senior roles highlights the substantial earning potential as one advances in their career.

Experience LevelMarket PercentileAnnual WageHourly Rate
Junior / AssociateEntry level. Focus on learning core skills & codebase.10% (Entry)$78,800$37.9
Engineer IProficient contributor. Handles tasks independently.25% (Junior)$100,200$48.2
Senior EngineerSystem design, complex problem solving, mentoring.50% (Median)$129,360$62.2
Lead / StaffTechnical strategy, architecture, cross-team impact.75% (Senior)$167,000$80.3
Principal / ArchitectIndustry expert. Driving technical vision & innovation.90% (Expert)$191,880$92.3

Detailed Actuaries Market Analysis

Relocation Context

Nominal Salary

$133,600

Gross Pay

Real Wage (Purchasing Power)

$133,600

Adjusted for COL (100)

With an average annual salary of $133,600 and a Cost of Living Index of 100, actuaries in Baltimore-Columbia-Towson find their nominal earnings directly translate to purchasing power at the national average. This means the salary offers a standard level of affordability relative to the rest of the country, without significant gains or losses in real income due to living expenses.

Job Market Context

320

Total Jobs

0.239

Per 1K Jobs

1.3

Location Quotient

Above Average

With a location quotient of 1.30, Baltimore-Columbia-Towson, MD has a slightly higher-than-average concentration of Actuaries roles compared to the national norm.

The Location Quotient of 1.3 for actuaries in Baltimore-Columbia-Towson indicates a market that is 30% more concentrated than the national average. This suggests a healthy and active job market with a notable presence of actuarial firms and opportunities, potentially offering competitive compensation and a good network for professionals in the field.

Nearby Job Markets

Nearby Cities for Actuaries

CitySalaryDist.
Washington-Arlington-Alexandria, DC-VA-MD-WV Actuaries Salary$146,540↑ 10%35 mi

Comparing salaries near Baltimore-Columbia-Towson, MD

Hiring Actuariess?

Frequently Asked Questions

How much does a Actuaries make in Baltimore-Columbia-Towson, MD?

The median annual salary for a Actuaries in Baltimore-Columbia-Towson, MD is $133,600. This typically ranges from $78,800 for entry-level positions to $191,880 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Baltimore-Columbia-Towson, MD is 1.6% lower than the national median of $135,770.

Is Baltimore-Columbia-Towson, MD a lucrative place for Actuaries?

Yes, it offers competitive compensation and a strong market presence.Actuaries in this region earn close to the national average salary, and the higher concentration of roles (LQ of 1.3) suggests a robust job market with good opportunities.

Is Baltimore-Columbia-Towson, MD a good place to live for Actuaries?

The Cost of Living Index in Baltimore-Columbia-Towson, MD is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Baltimore-Columbia-Towson, MD?

Some top paying nearby cities include Washington-Arlington-Alexandria, DC-VA-MD-WV ($146,540) and others.

How does the Baltimore Actuary salary compare to the national average?

The average Actuary salary in Baltimore-Columbia-Towson, MD is $133,600, which is slightly below the national average of $135,770.

What is the Cost of Living in Baltimore-Columbia-Towson, MD?

The Cost of Living Index for Baltimore-Columbia-Towson, MD is 100, which is exactly the national average.

How many Actuaries work in the Baltimore-Columbia-Towson, MD area?

There are approximately 320 Actuaries employed in the Baltimore-Columbia-Towson, MD metropolitan area.

What does a Location Quotient of 1.3 mean for Actuaries in Baltimore?

A Location Quotient of 1.3 indicates that Actuaries are 30% more concentrated in the Baltimore-Columbia-Towson, MD area than the national average, suggesting a stronger presence and potentially more job opportunities in this field locally.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 320 employees in the Baltimore-Columbia-Towson, MD area with a job density of 0.239 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Top Jobs in Baltimore-Columbia-Towson, MD

Semantic Salary Analysis for Actuaries • Data source: BLS OEWS 2024 •Jobs in Baltimore-Columbia-Towson, MD