SalaryNode

Average Actuaries Salary in Columbus, OH

Actuaries in Columbus, OH, command an average annual salary of $116,400. This figure is notably below the national average of $135,770, reflecting a localized compensation structure influenced by regional economic factors and the specific demand within the Ohio market. While lower than the national benchmark, this salary must be considered within the context of the local cost of living.

Executive Summary

  • Average Salary: $116,400 per year.
  • Growth Trend: Salaries have shifted 11.3% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $176,480.
  • Outlook: The Actuary job market in Columbus, OH, shows a healthy concentration, indicated by a Location Quotient of 1.47, suggesting a stronger presence of actuaries than the national average. With a local workforce of 290 actuaries, the demand appears stable, and the presence of more actuaries per capita than the national average implies a robust and established professional community within the city.
2024 Market Data

Salary Overview

$116,400

The average Actuaries in Columbus, OH earns-14.3%below the national average.

BreakdownBased on 40h/week
Hourly

$56

Weekly

$2,238

Monthly

$9,700

Actuaries Salary Distribution in Columbus, OH

The salary trajectory for actuaries in Columbus, OH, escalates significantly with experience. Entry-level positions typically start at the lower end of the pay scale, while senior actuaries with extensive experience and specialized certifications can command salaries well above the average. The widening gap between entry-level and senior compensation percentiles clearly signifies substantial career progression and earning potential within the actuarial field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Junior / AssociateEntry level. Focus on learning core skills & codebase.10% (Entry)$69,950$33.6
Engineer IProficient contributor. Handles tasks independently.25% (Junior)$87,300$42
Senior EngineerSystem design, complex problem solving, mentoring.50% (Median)$110,830$53.3
Lead / StaffTechnical strategy, architecture, cross-team impact.75% (Senior)$145,500$70
Principal / ArchitectIndustry expert. Driving technical vision & innovation.90% (Expert)$176,480$84.8

Detailed Actuaries Market Analysis

Relocation Context

Nominal Salary

$116,400

Gross Pay

Real Wage (Purchasing Power)

$116,400

Adjusted for COL (100)

The average Actuary salary of $116,400 in Columbus, OH, aligns perfectly with the national average cost of living (Index of 100). This means that the purchasing power of an Actuary's salary in Columbus is equivalent to that of an Actuary earning the national average salary in a location with a national average cost of living. Therefore, the nominal salary translates directly to real economic value without significant adjustment for living expenses.

Job Market Context

290

Total Jobs

0.27

Per 1K Jobs

1.47

Location Quotient

Above Average

With a location quotient of 1.47, Columbus, OH has a slightly higher-than-average concentration of Actuaries roles compared to the national norm.

With a Location Quotient of 1.47, Columbus, OH, exhibits a higher concentration of actuaries than the national average. This indicates that the job market is relatively more abundant with actuarial talent compared to other professions or other regions nationally. While this suggests a competitive environment, it also points to a well-established demand and a mature professional network for actuaries within the city.

Nearby Job Markets

Hiring Actuariess?

Frequently Asked Questions

How much does a Actuaries make in Columbus, OH?

The median annual salary for a Actuaries in Columbus, OH is $116,400. This typically ranges from $69,950 for entry-level positions to $176,480 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Columbus, OH is 14.3% lower than the national median of $135,770.

Is Columbus, OH a lucrative place for Actuaries?

Yes, with caveats.Actuaries in Columbus earn $116,400, which is below the national average but aligns with the national average cost of living. The strong Location Quotient suggests a robust market, making it a stable, if not exceptionally high-paying, location.

Is Columbus, OH a good place to live for Actuaries?

The Cost of Living Index in Columbus, OH is 100. While higher than average, this often correlates with higher wages.

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

The average Actuary salary in Columbus, OH, is $116,400, which is approximately 14% lower than the national average of $135,770.

What is the significance of the Location Quotient (LQ) for Actuaries in Columbus?

An LQ of 1.47 means that Actuaries are 47% more concentrated in Columbus, OH, than the national average. This indicates a stronger presence and potentially higher demand relative to the general workforce in the area.

Does the cost of living in Columbus affect the Actuary salary?

No, the cost of living in Columbus is exactly at the national average (Index of 100). This means the $116,400 salary has the same purchasing power as the national average salary in a national average cost of living area.

How many Actuaries are employed in Columbus, OH?

There are approximately 290 Actuaries employed in Columbus, OH, representing 0.27 jobs per 1,000 workers in the local economy.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 290 employees in the Columbus, OH area with a job density of 0.27 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Actuaries • Data source: BLS OEWS 2024 •Jobs in Columbus, OH