Average Actuaries Salary in Boston-Cambridge-Newton, MA-NH
Actuaries in the Boston-Cambridge-Newton, MA-NH area earn an impressive average annual salary of $135,920, slightly surpassing the national average of $135,770. This competitive compensation reflects the region's strong demand for specialized analytical talent and the presence of major financial and insurance institutions that rely heavily on actuarial expertise.
Executive Summary
- Average Salary: $135,920 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $189,270.
- Outlook: The Boston-Cambridge-Newton, MA-NH metropolitan area presents a robust job market for actuaries, evidenced by a local workforce of 980 professionals. The Location Quotient of 1.98 indicates a significant concentration of actuaries relative to the national average, suggesting a healthy and sustained demand for their specialized skills within this economic hub.
Salary Overview
The average Actuaries in Boston-Cambridge-Newton, MA-NH earns+0.1%above the national average.
$65.3
$2,614
$11,327
Actuaries Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that actuaries in the Boston-Cambridge-Newton, MA-NH area have experienced consistent salary growth over the past four years. This trend is typical for high-demand, specialized professions in major metropolitan areas, driven by evolving industry needs and increasing complexity in risk assessment and financial modeling.
Actuaries Salary Distribution in Boston-Cambridge-Newton, MA-NH
Actuarial salaries typically scale significantly with experience. Entry-level actuaries might start at a lower percentile, while senior actuaries with extensive experience and professional designations can command salaries well into the upper percentiles. The widening gap between entry-level and senior compensation signifies clear career progression and the increasing value placed on seasoned expertise in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $82,470 | $39.6 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $101,940 | $49 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $126,870 | $61 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $169,900 | $81.7 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $189,270 | $91 |
Detailed Actuaries Market Analysis
Relocation Context
Nominal Salary
$135,920
Gross Pay
Real Wage (Purchasing Power)
$135,920
Adjusted for COL (100)
An average annual salary of $135,920 in Boston-Cambridge-Newton, MA-NH aligns perfectly with the national average cost of living (Index 100). This means that the purchasing power of an actuary's salary in this region is equivalent to the national standard, offering a stable financial footing without the typical premium associated with high-paying metropolitan areas.
Job Market Context
980
Total Jobs
0.364
Per 1K Jobs
1.98
Location Quotient
Boston-Cambridge-Newton, MA-NH has 2.0x the national concentration of Actuaries jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
With a Location Quotient of 1.98, the Boston-Cambridge-Newton, MA-NH market is more than twice as concentrated with actuaries as the national average. This suggests a highly specialized and potentially competitive job market, where employers actively seek out actuarial talent, and professionals benefit from a rich ecosystem of industry peers and opportunities.
Nearby Job Markets
Nearby Cities for Actuaries
| City | Salary | Dist. |
|---|---|---|
| Worcester, MA Actuaries Salary | $133,720↓ 2% | 37 mi |
| Providence-Warwick, RI-MA Actuaries Salary | $118,370↓ 13% | 38 mi |
Comparing salaries near Boston-Cambridge-Newton, MA-NH
Hiring Actuariess?
Frequently Asked Questions
How much does a Actuaries make in Boston-Cambridge-Newton, MA-NH?
The median annual salary for a Actuaries in Boston-Cambridge-Newton, MA-NH is $135,920. This typically ranges from $82,470 for entry-level positions to $189,270 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Boston-Cambridge-Newton, MA-NH is 0.1% higher than the national median of $135,770.
Is Boston-Cambridge-Newton, MA-NH a lucrative place for Actuaries?
Yes, Boston-Cambridge-Newton, MA-NH is a lucrative location for Actuaries.Actuaries earn slightly above the national average salary here, and the cost of living is on par with the national average, making it financially advantageous.
Is Boston-Cambridge-Newton, MA-NH a good place to live for Actuaries?
The Cost of Living Index in Boston-Cambridge-Newton, MA-NH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Boston-Cambridge-Newton, MA-NH?
Some top paying nearby cities include Worcester, MA ($133,720) and Providence-Warwick, RI-MA.
How does the number of actuaries in Boston compare to the national average?
The Boston-Cambridge-Newton, MA-NH area has a significant concentration of actuaries, with a Location Quotient of 1.98, indicating nearly double the national density of professionals in this field.
What is the cost of living impact on an Actuary's salary in Boston?
The cost of living in Boston-Cambridge-Newton, MA-NH is exactly at the national average (Index 100), meaning the $135,920 salary offers purchasing power equivalent to the national median.
Is the job market for Actuaries strong in Boston?
Yes, the market appears strong, with a substantial local workforce and a high concentration (LQ 1.98) suggesting consistent demand for actuarial services.
How many jobs per 1,000 workers are available for Actuaries in Boston?
There are approximately 0.364 Actuary jobs per 1,000 workers in the Boston-Cambridge-Newton, MA-NH area, reflecting a specialized but present employment landscape.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 980 employees in the Boston-Cambridge-Newton, MA-NH area with a job density of 0.364 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Actuaries Salaries by State
Top Jobs in Boston-Cambridge-Newton, MA-NH
- All Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Office and Administrative Support Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Management Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Business and Financial Operations Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Sales and Related Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Food Preparation and Serving Related Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Healthcare Practitioners and Technical Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Educational Instruction and Library Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Transportation and Material Moving Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Computer and Mathematical Occupations Salary in Boston-Cambridge-Newton, MA-NH
- Browse All Jobs in Boston-Cambridge-Newton, MA-NH →
Semantic Salary Analysis for Actuaries • Data source: BLS OEWS 2024 •Jobs in Boston-Cambridge-Newton, MA-NH