Actuaries in Florida earn an average annual salary of $129,770, slightly below the national average of $135,770. This marginal difference can be attributed to a variety of factors, including the specific industry demands within Florida and the overall economic landscape of the state, which influences compensation benchmarks for specialized roles.
Executive Summary
- Average Salary: $129,770 per year.
- Growth Trend: Salaries have shifted 11.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $206,410.
- Outlook: With a local workforce of 1,740 actuaries and a Location Quotient of 0.96, Florida presents a stable, albeit slightly less concentrated, market for actuarial professionals compared to the national average. The presence of a substantial workforce indicates consistent demand and opportunities for those in the field within the state.
Actuaries Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that actuarial salaries in Florida have experienced steady growth over the past four years, mirroring national trends. Factors such as increasing demand for risk assessment in sectors like insurance and finance, coupled with inflation, typically drive upward salary adjustments for experienced professionals.
Actuaries Salary Distribution in Florida
The career trajectory for actuaries in Florida shows significant earning potential as experience increases. Entry-level positions will naturally command lower salaries, while seasoned actuaries with extensive experience and specialized certifications can expect to earn substantially more, with top percentiles reflecting advanced expertise and responsibility.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $73,020 | $35.1 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $97,328 | $46.8 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $123,220 | $59.2 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $162,213 | $78 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $206,410 | $99.2 |
Detailed Actuaries Market Analysis
Relocation Context
Nominal Salary
$129,770
Gross Pay
Real Wage (Purchasing Power)
$126,852
Adjusted for COL (102.3)
An average salary of $129,770 in Florida is quite competitive when considering the local Cost of Living Index of 102.3. While slightly above the national average, this index suggests that the purchasing power of an actuary's salary in Florida is robust, allowing for a comfortable standard of living relative to national benchmarks.
Job Market Context
1,740
Total Jobs
0.177
Per 1K Jobs
0.96
Location Quotient
Florida has 0.96x the national average concentration of Actuaries jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
A Location Quotient of 0.96 indicates that the concentration of actuaries in Florida is nearly on par with the national average. This suggests a balanced job market where opportunities exist without the intense competition often found in areas with significantly higher LQs, making it an attractive location for actuarial talent.
Nearby Job Markets
Nearby Cities for Actuaries
| City | Salary | Dist. |
|---|---|---|
| Tampa-St. Petersburg-Clearwater, FL Actuaries Salary | $120,500↓ 7% | 49 mi |
| Orlando-Kissimmee-Sanford, FL Actuaries Salary | $129,450↓ 0% | 57 mi |
| North Port-Bradenton-Sarasota, FL Actuaries Salary | $134,010↑ 3% | 58 mi |
Comparing salaries near Florida
Hiring Actuariess?
Frequently Asked Questions
How much does a Actuaries make in Florida?
The median annual salary for a Actuaries in Florida is $129,770. This typically ranges from $73,020 for entry-level positions to $206,410 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Florida is 4.4% lower than the national median of $135,770.
Is Florida a lucrative place for Actuaries?
Yes, Florida offers a lucrative environment for actuaries.Actuaries in Florida earn a competitive average salary of $129,770, which holds strong purchasing power due to a cost of living only slightly above the national average.
Is Florida a good place to live for Actuaries?
The Cost of Living Index in Florida is 102.3. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Florida?
Some top paying nearby cities include Tampa-St. Petersburg-Clearwater, FL ($120,500) and Orlando-Kissimmee-Sanford, FL.
How does Florida's actuary salary compare to the national average?
The average actuary salary in Florida is $129,770, which is slightly lower than the national average of $135,770.
What is the concentration of actuaries in Florida?
Florida has a Location Quotient of 0.96 for actuaries, indicating a concentration very close to the national average.
How does the cost of living in Florida affect an actuary's salary?
With a Cost of Living Index of 102.3, Florida's cost of living is just above the national average, meaning the $129,770 salary offers good real value.
What does the total local workforce number suggest for job prospects?
A total local workforce of 1,740 actuaries suggests a significant and established presence of the profession, indicating ongoing demand and opportunities.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,740 employees in the Florida area with a job density of 0.177 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Actuaries • Data source: BLS OEWS 2024 •Jobs in Florida