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Average Actuaries Salary in Connecticut

Actuaries in Connecticut earn a commanding average annual salary of $152,210, significantly surpassing the national average of $135,770. This premium is largely driven by Connecticut's robust financial sector and the specialized, high-demand nature of actuarial work within the state, necessitating a higher compensation to attract and retain top talent.

Executive Summary

  • Average Salary: $152,210 per year.
  • Growth Trend: Salaries have shifted 1.9% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $213,050.
  • Outlook: With a local workforce of 1,190 actuaries and a Location Quotient of 3.86, Connecticut demonstrates a substantial concentration of actuarial professionals. This indicates a strong and established job market for actuaries, suggesting robust demand and a healthy environment for career growth within the state.
2024 Market Data

Salary Overview

$152,210

The average Actuaries in Connecticut earns+12.1%above the national average.

BreakdownBased on 40h/week
Hourly

$73.2

Weekly

$2,927

Monthly

$12,684

Actuaries Salary Distribution in Connecticut

The salary landscape for actuaries in Connecticut shows a clear progression with experience. Entry-level positions typically start at the lower end of the pay scale, while senior actuaries, with their extensive expertise and responsibilities, command significantly higher salaries. The widening gap between entry-level and senior roles highlights the substantial career advancement and earning potential available within the actuarial profession.

Experience LevelMarket PercentileAnnual WageHourly Rate
Junior / AssociateEntry level. Focus on learning core skills & codebase.10% (Entry)$91,770$44.1
Engineer IProficient contributor. Handles tasks independently.25% (Junior)$114,158$54.9
Senior EngineerSystem design, complex problem solving, mentoring.50% (Median)$148,220$71.3
Lead / StaffTechnical strategy, architecture, cross-team impact.75% (Senior)$190,263$91.5
Principal / ArchitectIndustry expert. Driving technical vision & innovation.90% (Expert)$213,050$102.4

Detailed Actuaries Market Analysis

Relocation Context

Nominal Salary

$152,210

Gross Pay

Real Wage (Purchasing Power)

$134,580

Adjusted for COL (113.1)

While the average annual salary for actuaries in Connecticut is $152,210, the state's Cost of Living Index stands at 113.1. This means that while the nominal salary is high, the purchasing power is slightly diminished compared to a national average cost of living. Professionals should factor in this 13.1% higher cost when evaluating their take-home pay and overall financial well-being in the state.

Job Market Context

1,190

Total Jobs

0.709

Per 1K Jobs

3.86

Location Quotient

Major Hub

Connecticut has 3.9x 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.

Connecticut's Location Quotient of 3.86 signifies a highly concentrated market for actuaries, meaning the state employs actuaries at a rate nearly four times the national average. This suggests a competitive yet abundant job market, where specialized skills are in high demand and employers actively seek experienced professionals, potentially leading to more opportunities and robust salary negotiations.

Nearby Job Markets

Nearby Cities for Actuaries

CitySalaryDist.
Hartford-West Hartford-East Hartford, CT Actuaries Salary$151,060↓ 1%12 mi
Waterbury-Shelton, CT Actuaries Salary$141,830↓ 7%15 mi
Bridgeport-Stamford-Danbury, CT Actuaries Salary$168,860↑ 11%36 mi

Comparing salaries near Connecticut

Hiring Actuariess?

Frequently Asked Questions

How much does a Actuaries make in Connecticut?

The median annual salary for a Actuaries in Connecticut is $152,210. This typically ranges from $91,770 for entry-level positions to $213,050 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Connecticut is 12.1% higher than the national median of $135,770.

Is Connecticut a lucrative place for Actuaries?

Yes, Connecticut is a highly lucrative state for Actuaries.Actuaries in Connecticut earn an average of $152,210 annually, significantly above the national average, and the state has a high concentration of these professionals.

Is Connecticut a good place to live for Actuaries?

The Cost of Living Index in Connecticut is 113.1. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Connecticut?

Some top paying nearby cities include Hartford-West Hartford-East Hartford, CT ($151,060) and Waterbury-Shelton, CT.

How does Connecticut's Actuary salary compare to the national average?

The average annual salary for Actuaries in Connecticut is $152,210, which is considerably higher than the national average of $135,770.

What is the concentration of Actuaries in Connecticut?

Connecticut has a Location Quotient of 3.86 for Actuaries, indicating that the concentration of these professionals in the state is almost four times the national average.

How does the Cost of Living in Connecticut affect Actuary salaries?

With a Cost of Living Index of 113.1, Connecticut is more expensive than the national average. While the high Actuary salary offers good purchasing power, it's important to consider the increased cost of living.

What is the total number of Actuaries in Connecticut?

There are approximately 1,190 Actuaries employed in Connecticut, reflecting a significant presence in the state's workforce.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,190 employees in the Connecticut area with a job density of 0.709 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 Connecticut