Average Actuaries Salary in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Actuaries in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan area earn an impressive average annual salary of $149,330. This figure significantly surpasses the national average of $135,770, indicating a strong demand and specialized need for actuarial talent within this region. The concentration of financial services and insurance industries likely drives this elevated compensation.
Executive Summary
- Average Salary: $149,330 per year.
- Growth Trend: Salaries have shifted 15.8% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $223,995.
- Outlook: With a local workforce of 910 actuaries and a Location Quotient of 1.72, the Philadelphia-Camden-Wilmington area demonstrates a robust and concentrated job market for this profession. A Location Quotient above 1.0 signifies a higher concentration of actuaries than the national average, suggesting strong demand and a potentially competitive environment for skilled professionals.
Salary Overview
The average Actuaries in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD earns+10.0%above the national average.
$71.8
$2,872
$12,444
Actuaries Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that actuarial salaries in the Philadelphia-Camden-Wilmington area have experienced consistent growth over the past four years, mirroring national trends. Factors such as increasing demand for risk assessment, evolving regulatory landscapes, and inflation typically contribute to upward salary adjustments for experienced professionals in this field.
Actuaries Salary Distribution in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
The career trajectory for actuaries in Philadelphia-Camden-Wilmington offers significant earning potential, with salaries scaling considerably from entry-level to senior positions. While specific percentile data isn't available, the typical progression sees substantial increases at mid-career and senior levels, reflecting the accumulation of expertise, certifications, and leadership responsibilities. These percentile gaps are key indicators of career advancement and increased earning power.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $76,870 | $37 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $111,998 | $53.8 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $130,750 | $62.9 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $186,663 | $89.7 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $223,995 | $107.7 |
Detailed Actuaries Market Analysis
Relocation Context
Nominal Salary
$149,330
Gross Pay
Real Wage (Purchasing Power)
$149,330
Adjusted for COL (100)
The average annual salary of $149,330 in Philadelphia-Camden-Wilmington aligns perfectly with the national average Cost of Living Index of 100. This means that the higher nominal salary effectively translates to equivalent purchasing power compared to the national average, making it a financially stable location for actuaries.
Job Market Context
910
Total Jobs
0.317
Per 1K Jobs
1.72
Location Quotient
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD has 1.7x 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 1.72 for actuaries in Philadelphia-Camden-Wilmington strongly suggests a market where this profession is more prevalent than the national average. This indicates a specialized demand and potentially a more competitive landscape for actuaries seeking new opportunities, as the concentration of talent and employers is higher.
Nearby Job Markets
Nearby Cities for Actuaries
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Actuaries Salary | $130,090↓ 13% | 28 mi |
Comparing salaries near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Hiring Actuariess?
Frequently Asked Questions
How much does a Actuaries make in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
The median annual salary for a Actuaries in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is $149,330. This typically ranges from $76,870 for entry-level positions to $223,995 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 10.0% higher than the national median of $135,770.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a lucrative place for Actuariess?
Yes, it is a lucrative place for Actuaries.Actuaries in this region earn significantly above the national average salary, and the cost of living is on par with the national average, offering excellent purchasing power.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a good place to live for Actuaries?
The Cost of Living Index in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
Some top paying nearby cities include Trenton-Princeton, NJ ($130,090) and others.
How does the Actuary salary in Philadelphia compare to the national average?
The average Actuary salary in Philadelphia-Camden-Wilmington is $149,330, which is notably higher than the national average of $135,770.
What is the concentration of Actuaries in the Philadelphia-Camden-Wilmington area?
The area has a Location Quotient of 1.72, meaning Actuaries are 72% more concentrated here than the national average, indicating a strong regional presence.
Does the Cost of Living affect the Actuary salary in Philadelphia?
No, the Cost of Living Index is 100, matching the national average. This means the higher salary offers equivalent purchasing power to the national average.
How many Actuaries work in the Philadelphia-Camden-Wilmington area?
There are approximately 910 Actuaries employed within the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 910 employees in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area with a job density of 0.317 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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD