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Average Actuaries Salary in Pennsylvania

Actuaries in Pennsylvania earn an average annual salary of $131,200, which is slightly below the national average of $135,770. This minor difference can often be attributed to regional economic factors and the specific demand within the state's insurance and financial sectors. The concentration of actuarial roles within Pennsylvania plays a significant part in shaping these compensation packages.

Executive Summary

  • Average Salary: $131,200 per year.
  • Growth Trend: Salaries have shifted 5.3% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $214,320.
  • Outlook: Pennsylvania boasts a robust job market for actuaries, evidenced by a substantial local workforce of 1,980 professionals. The Location Quotient of 1.8 indicates a significantly higher concentration of actuaries in Pennsylvania compared to the national average, suggesting strong and consistent demand for their specialized skills within the state's economy.
2024 Market Data

Salary Overview

$131,200

The average Actuaries in Pennsylvania earns-3.4%below the national average.

BreakdownBased on 40h/week
Hourly

$63.1

Weekly

$2,523

Monthly

$10,933

Actuaries Salary Distribution in Pennsylvania

The salary trajectory for actuaries in Pennsylvania demonstrates a clear progression with experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned actuaries with extensive experience and advanced certifications can command significantly higher salaries, often reaching well into the six figures. The widening gap between entry-level and senior-level salaries reflects the increasing value placed on expertise and proven analytical capabilities in the field.

Experience LevelMarket PercentileAnnual WageHourly Rate
Junior / AssociateEntry level. Focus on learning core skills & codebase.10% (Entry)$69,530$33.4
Engineer IProficient contributor. Handles tasks independently.25% (Junior)$98,400$47.3
Senior EngineerSystem design, complex problem solving, mentoring.50% (Median)$107,530$51.7
Lead / StaffTechnical strategy, architecture, cross-team impact.75% (Senior)$164,000$78.8
Principal / ArchitectIndustry expert. Driving technical vision & innovation.90% (Expert)$214,320$103

Detailed Actuaries Market Analysis

Relocation Context

Nominal Salary

$131,200

Gross Pay

Real Wage (Purchasing Power)

$132,525

Adjusted for COL (99)

An average annual salary of $131,200 in Pennsylvania aligns favorably with the state's Cost of Living Index of 99, which is precisely at the national average. This means that the purchasing power of an actuary's salary in Pennsylvania is very close to what it would be nationally, offering a stable financial outlook without significant cost-of-living adjustments needed.

Job Market Context

1,980

Total Jobs

0.33

Per 1K Jobs

1.8

Location Quotient

Major Hub

Pennsylvania 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.

With a Location Quotient of 1.8, Pennsylvania presents a market where actuaries are notably more concentrated than the national average. This suggests a mature and potentially competitive job market, but also one with a deep pool of talent and established opportunities. Employers in Pennsylvania likely value the specialized skills actuaries bring, leading to a strong presence of these professionals within the state's financial and insurance industries.

Nearby Job Markets

Nearby Cities for Actuaries

CitySalaryDist.
Harrisburg-Carlisle, PA Actuaries Salary$109,960↓ 16%66 mi

Comparing salaries near Pennsylvania

Hiring Actuariess?

Frequently Asked Questions

How much does a Actuaries make in Pennsylvania?

The median annual salary for a Actuaries in Pennsylvania is $131,200. This typically ranges from $69,530 for entry-level positions to $214,320 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Pennsylvania is 3.4% lower than the national median of $135,770.

Is Pennsylvania a lucrative place for Actuaries?

Yes, Pennsylvania offers a competitive environment for Actuaries.Actuaries in Pennsylvania earn a strong average salary of $131,200, which is very close to the national average, and the state has a higher concentration of these professionals, indicating robust demand.

Is Pennsylvania a good place to live for Actuaries?

With a Cost of Living Index of 99 (lower than the national average of 100), your salary goes further here.

Where are the highest paying cities near Pennsylvania?

Some top paying nearby cities include Harrisburg-Carlisle, PA ($109,960) and others.

How does the Pennsylvania actuary salary compare to the national average?

The average annual salary for actuaries in Pennsylvania is $131,200, which is slightly lower than the national average of $135,770.

What is the concentration of actuaries in Pennsylvania?

Pennsylvania has a Location Quotient of 1.8 for actuaries, meaning the concentration of these professionals is 80% higher than the national average.

How does the cost of living in Pennsylvania affect an actuary's salary?

With a Cost of Living Index of 99, the cost of living in Pennsylvania is at the national average, making the $131,200 salary highly comparable in terms of purchasing power to the national average.

What is the total number of actuaries in Pennsylvania?

There are approximately 1,980 actuaries working in Pennsylvania, representing a significant portion of the state's professional workforce.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,980 employees in the Pennsylvania area with a job density of 0.33 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 Pennsylvania