Actuaries in New York earn a commanding average annual salary of $152,470, significantly surpassing the national average of $135,770. This elevated compensation is driven by New York's robust financial sector and the specialized demand for actuarial expertise within its major insurance and financial institutions.
Executive Summary
- Average Salary: $152,470 per year.
- Growth Trend: Salaries have shifted 1.1% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $228,705.
- Outlook: With a local workforce of 3,090 actuaries, New York demonstrates a substantial presence in this specialized field. The Location Quotient of 1.76 indicates a concentration of actuaries nearly double the national average, suggesting strong and consistent demand for their analytical skills within the state's economy.
Actuaries Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that actuarial salaries in New York have experienced steady growth over the past four years, mirroring national trends. Factors such as increasing data complexity, evolving regulatory landscapes, and a persistent need for risk assessment professionals likely contribute to this upward salary trajectory.
Actuaries Salary Distribution in New York
The salary landscape for actuaries in New York shows significant potential for growth with experience. Entry-level positions typically start lower, but as actuaries gain expertise and achieve professional designations, their earning potential escalates considerably. The widening gap between lower and higher salary percentiles clearly signifies substantial career progression and increased earning capacity for senior-level professionals.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $77,320 | $37.2 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $114,353 | $55 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $133,730 | $64.3 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $190,588 | $91.6 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $228,705 | $110 |
Detailed Actuaries Market Analysis
Relocation Context
Nominal Salary
$152,470
Gross Pay
Real Wage (Purchasing Power)
$121,878
Adjusted for COL (125.1)
While the nominal salary of $152,470 is impressive, New York's Cost of Living Index of 125.1 means that this income will be stretched further than in a national average location. The higher cost of goods and services, particularly housing, should be factored into any relocation decisions, though the elevated salary often compensates for these increased expenses.
Job Market Context
3,090
Total Jobs
0.324
Per 1K Jobs
1.76
Location Quotient
New York has 1.8x 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 1.76 for actuaries in New York signifies a market where this profession is significantly more concentrated than the national average. This suggests a competitive yet abundant job market, with numerous opportunities available for skilled actuaries, and a strong ecosystem of related industries supporting their employment.
Nearby Job Markets
Nearby Cities for Actuaries
| City | Salary | Dist. |
|---|---|---|
| Utica-Rome, NY Actuaries Salary | $108,640↓ 29% | 66 mi |
| Albany-Schenectady-Troy, NY Actuaries Salary | $112,200↓ 26% | 68 mi |
Comparing salaries near New York
Hiring Actuariess?
Frequently Asked Questions
How much does a Actuaries make in New York?
The median annual salary for a Actuaries in New York is $152,470. This typically ranges from $77,320 for entry-level positions to $228,705 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in New York is 12.3% higher than the national median of $135,770.
Is New York a lucrative place for Actuariess?
Yes, New York is a highly lucrative state for actuaries.Actuaries in New York earn an average of $152,470, substantially higher than the national average, indicating strong earning potential.
Is New York a good place to live for Actuaries?
The Cost of Living Index in New York is 125.1. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near New York?
Some top paying nearby cities include Utica-Rome, NY ($108,640) and Albany-Schenectady-Troy, NY.
How does the New York Actuary salary compare to the national average?
The average Actuary salary in New York is $152,470, which is notably higher than the national average of $135,770.
What is the concentration of Actuaries in New York?
New York has a Location Quotient of 1.76 for Actuaries, meaning the profession is 76% more concentrated there than the national average.
How does the Cost of Living affect Actuary salaries in New York?
With a Cost of Living Index of 125.1, New York is more expensive than the national average, meaning the higher salary is partially offset by increased living expenses.
What is the total number of Actuaries in New York?
There are approximately 3,090 Actuaries employed within New York state.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,090 employees in the New York area with a job density of 0.324 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 New York