Actuaries in Ohio earn an average annual salary of $121,910, which is below the national average of $135,770. This difference is often influenced by a combination of regional demand, the concentration of specific industries, and the overall economic landscape of the state.
Executive Summary
- Average Salary: $121,910 per year.
- Growth Trend: Salaries have shifted 24.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $172,950.
- Outlook: With a local workforce of 1,340 actuaries and a Location Quotient of 1.32, Ohio demonstrates a notable concentration of these professionals compared to the national average. This suggests a robust and potentially growing demand for actuarial talent within the state, indicating a healthy job market for those in the field.
Actuaries Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that actuarial salaries in Ohio have experienced consistent growth over the past four years, mirroring national trends. Factors such as increasing demand for risk analysis, evolving regulatory environments, and the need for specialized expertise likely contribute to upward salary pressure.
Actuaries Salary Distribution in Ohio
The salary trajectory for actuaries in Ohio typically scales significantly with experience. Entry-level positions may start considerably lower than the average, while senior actuaries with extensive experience and specialized certifications can command salaries well above $150,000. The widening gap between entry-level and senior roles highlights substantial career progression opportunities.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $77,230 | $37.1 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $91,433 | $44 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $115,550 | $55.6 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $152,388 | $73.3 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $172,950 | $83.1 |
Detailed Actuaries Market Analysis
Relocation Context
Nominal Salary
$121,910
Gross Pay
Real Wage (Purchasing Power)
$134,262
Adjusted for COL (90.8)
The average Actuary salary of $121,910 in Ohio presents a favorable financial situation when considering the state's Cost of Living Index of 90.8. This means that the purchasing power of an Actuary's salary in Ohio is likely higher than the national average, allowing for a better standard of living relative to income.
Job Market Context
1,340
Total Jobs
0.243
Per 1K Jobs
1.32
Location Quotient
With a location quotient of 1.32, Ohio has a slightly higher-than-average concentration of Actuaries roles compared to the national norm.
Ohio's Location Quotient of 1.32 indicates that actuaries are more concentrated in Ohio than the national average. This suggests a competitive market where employers may have a good pool of talent to draw from, but also signifies a strong presence and established demand for actuarial services within the state's economy.
Nearby Job Markets
Nearby Cities for Actuaries
| City | Salary | Dist. |
|---|---|---|
| Columbus, OH Actuaries Salary | $116,400↓ 5% | 32 mi |
Comparing salaries near Ohio
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Frequently Asked Questions
How much does a Actuaries make in Ohio?
The median annual salary for a Actuaries in Ohio is $121,910. This typically ranges from $77,230 for entry-level positions to $172,950 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Ohio is 10.2% lower than the national median of $135,770.
Is Ohio a lucrative place for Actuaries?
Yes, especially considering the cost of living.Actuaries in Ohio earn a solid average salary that, when combined with a cost of living below the national average, offers strong purchasing power. The state's higher-than-average concentration of actuaries also points to consistent demand.
Is Ohio a good place to live for Actuaries?
With a Cost of Living Index of 90.8 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Ohio?
Some top paying nearby cities include Columbus, OH ($116,400) and others.
How does Ohio's Actuary salary compare to the national average?
The average Actuary salary in Ohio is $121,910, which is approximately 10% lower than the national average of $135,770.
What is the Cost of Living in Ohio compared to the national average?
Ohio's Cost of Living Index is 90.8, meaning it is 9.2% cheaper to live in Ohio than the national average (where 100 is the national average).
How concentrated are Actuaries in Ohio?
Ohio has a Location Quotient of 1.32 for Actuaries, indicating that the state has 32% more Actuaries per worker than the national average, suggesting a higher concentration of the profession.
What does the number of Actuaries per 1,000 workers mean for Ohio?
With 0.243 Actuaries per 1,000 workers, Ohio shows a tangible presence of the profession, contributing to the state's overall demand and employment opportunities for Actuaries.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,340 employees in the Ohio area with a job density of 0.243 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 Ohio