Average Actuaries Salary in Hartford-West Hartford-East Hartford, CT
Actuaries in the Hartford-West Hartford-East Hartford, CT area command an impressive average annual salary of $151,060, substantially exceeding the national average of $135,770. This elevated compensation is largely driven by the region's robust insurance industry, a historical hub for actuarial talent, creating a sustained demand for specialized analytical skills.
Executive Summary
- Average Salary: $151,060 per year.
- Growth Trend: Salaries have shifted 5.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $217,690.
- Outlook: The actuarial job market in Hartford-West Hartford-East Hartford presents a compelling picture of demand. With a local workforce of 810 actuaries and a Location Quotient of 7.42, the concentration of these professionals is over seven times the national average, indicating a strong and established presence within the region's economy.
Salary Overview
The average Actuaries in Hartford-West Hartford-East Hartford, CT earns+11.3%above the national average.
$72.6
$2,905
$12,588
Actuaries Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that actuarial salaries in Hartford have experienced consistent growth over the past four years, mirroring national trends. The ongoing demand for risk assessment and financial modeling in the insurance sector, coupled with the specialized nature of the profession, typically leads to upward salary adjustments.
Actuaries Salary Distribution in Hartford-West Hartford-East Hartford, CT
Actuarial compensation scales significantly with experience. Entry-level actuaries can expect salaries at the lower end of the spectrum, while seasoned professionals with extensive experience and advanced certifications can command salaries well into the top percentiles. The widening gap between entry-level and senior roles clearly signifies substantial career progression and earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $91,770 | $44.1 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $113,295 | $54.5 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $138,280 | $66.5 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $188,825 | $90.8 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $217,690 | $104.7 |
Detailed Actuaries Market Analysis
Relocation Context
Nominal Salary
$151,060
Gross Pay
Real Wage (Purchasing Power)
$151,060
Adjusted for COL (100)
The average annual salary of $151,060 in Hartford-West Hartford-East Hartford aligns perfectly with the national average Cost of Living Index of 100. This means that the higher nominal income translates directly into strong purchasing power, allowing actuaries in this region to maintain a comparable or potentially better standard of living than their national counterparts.
Job Market Context
810
Total Jobs
1.363
Per 1K Jobs
7.42
Location Quotient
Hartford-West Hartford-East Hartford, CT has 7.4x 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.
The Location Quotient of 7.42 for actuaries in Hartford-West Hartford-East Hartford signifies an exceptionally high concentration of these professionals compared to the national average. This indicates a mature and specialized job market, suggesting a strong demand from local employers, particularly within the insurance and financial services sectors.
Nearby Job Markets
Nearby Cities for Actuaries
| City | Salary | Dist. |
|---|---|---|
| Waterbury-Shelton, CT Actuaries Salary | $141,830↓ 6% | 23 mi |
| Springfield, MA Actuaries Salary | $110,120↓ 27% | 25 mi |
Comparing salaries near Hartford-West Hartford-East Hartford, CT
Hiring Actuariess?
Frequently Asked Questions
How much does a Actuaries make in Hartford-West Hartford-East Hartford, CT?
The median annual salary for a Actuaries in Hartford-West Hartford-East Hartford, CT is $151,060. This typically ranges from $91,770 for entry-level positions to $217,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Hartford-West Hartford-East Hartford, CT is 11.3% higher than the national median of $135,770.
Is Hartford-West Hartford-East Hartford, CT a lucrative place for Actuaries?
Yes, it is a highly lucrative location for Actuaries.Actuaries in this region earn significantly more than the national average, and the cost of living is on par with the national average, indicating strong real income.
Is Hartford-West Hartford-East Hartford, CT a good place to live for Actuaries?
The Cost of Living Index in Hartford-West Hartford-East Hartford, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Hartford-West Hartford-East Hartford, CT?
Some top paying nearby cities include Waterbury-Shelton, CT ($141,830) and Springfield, MA.
What is the average salary for an Actuary in Hartford-West Hartford-East Hartford, CT?
The average annual salary for an Actuary in Hartford-West Hartford-East Hartford, CT is $151,060.
How does the Hartford-West Hartford-East Hartford, CT salary compare to the national average?
The average salary in Hartford-West Hartford-East Hartford, CT ($151,060) is considerably higher than the national average ($135,770).
What is the concentration of Actuaries in Hartford-West Hartford-East Hartford, CT?
The concentration of Actuaries is very high, with a Location Quotient of 7.42, indicating a significant presence compared to the national average.
How does the cost of living in Hartford-West Hartford-East Hartford, CT affect Actuary salaries?
The cost of living in Hartford-West Hartford-East Hartford, CT is at the national average (100), meaning the higher salary offers excellent purchasing power.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 810 employees in the Hartford-West Hartford-East Hartford, CT area with a job density of 1.363 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
Explore Actuaries Salaries by State
Top Jobs in Hartford-West Hartford-East Hartford, CT
- All Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Office and Administrative Support Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Management Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Transportation and Material Moving Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Food Preparation and Serving Related Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Educational Instruction and Library Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Sales and Related Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Healthcare Practitioners and Technical Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Business and Financial Operations Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Healthcare Support Occupations Salary in Hartford-West Hartford-East Hartford, CT
- Browse All Jobs in Hartford-West Hartford-East Hartford, CT →
Semantic Salary Analysis for Actuaries • Data source: BLS OEWS 2024 •Jobs in Hartford-West Hartford-East Hartford, CT