Average Actuaries Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV
Actuaries in the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area command an impressive average annual salary of $146,540. This figure significantly surpasses the national average of $135,770, indicating a premium for actuarial expertise in this region. The robust demand and specialized nature of the financial services sector in this area likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $146,540 per year.
- Growth Trend: Salaries have shifted 8.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $196,550.
- Outlook: The actuarial job market in Washington-Arlington-Alexandria, DC-VA-MD-WV appears stable and moderately concentrated, with a local workforce of 690 professionals. A Location Quotient of 1.2 suggests that actuaries are slightly more prevalent here than the national average, pointing to a consistent demand for their specialized skills within the region's economic landscape.
Salary Overview
The average Actuaries in Washington-Arlington-Alexandria, DC-VA-MD-WV earns+7.9%above the national average.
$70.5
$2,818
$12,212
Actuaries Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that actuarial salaries in the Washington-Arlington-Alexandria, DC-VA-MD-WV area have experienced steady growth over the past four years. This trend would align with the increasing complexity of financial risk assessment and the ongoing need for skilled actuaries to navigate evolving regulatory environments and market dynamics.
Actuaries Salary Distribution in Washington-Arlington-Alexandria, DC-VA-MD-WV
Salary progression for actuaries in this region is strongly tied to experience and specialization. Entry-level actuaries can expect compensation towards the lower end of the spectrum, while senior actuaries with extensive experience and advanced certifications will command significantly higher salaries, potentially reaching well into the top percentiles. The widening gap between entry-level and senior roles reflects the steep learning curve and specialized knowledge required for career advancement in this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Junior / AssociateEntry level. Focus on learning core skills & codebase. | 10% (Entry) | $97,720 | $47 |
| Engineer IProficient contributor. Handles tasks independently. | 25% (Junior) | $109,905 | $52.8 |
| Senior EngineerSystem design, complex problem solving, mentoring. | 50% (Median) | $137,610 | $66.2 |
| Lead / StaffTechnical strategy, architecture, cross-team impact. | 75% (Senior) | $183,175 | $88.1 |
| Principal / ArchitectIndustry expert. Driving technical vision & innovation. | 90% (Expert) | $196,550 | $94.5 |
Detailed Actuaries Market Analysis
Relocation Context
Nominal Salary
$146,540
Gross Pay
Real Wage (Purchasing Power)
$146,540
Adjusted for COL (100)
The average annual salary of $146,540 in Washington-Arlington-Alexandria, DC-VA-MD-WV aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of an actuary's salary in this region is equivalent to the national average, offering a stable financial footing without the added pressure of a significantly higher cost of living.
Job Market Context
690
Total Jobs
0.221
Per 1K Jobs
1.2
Location Quotient
With a location quotient of 1.20, Washington-Arlington-Alexandria, DC-VA-MD-WV has a slightly higher-than-average concentration of Actuaries roles compared to the national norm.
With a Location Quotient of 1.2, the Washington-Arlington-Alexandria, DC-VA-MD-WV area exhibits a slightly higher concentration of actuaries compared to the national average. This suggests a healthy and somewhat specialized job market where demand for actuarial talent is robust, potentially offering more opportunities and a competitive environment for professionals in this field.
Nearby Job Markets
Nearby Cities for Actuaries
| City | Salary | Dist. |
|---|---|---|
| Baltimore-Columbia-Towson, MD Actuaries Salary | $133,600↓ 9% | 35 mi |
Comparing salaries near Washington-Arlington-Alexandria, DC-VA-MD-WV
Hiring Actuariess?
Frequently Asked Questions
How much does a Actuaries make in Washington-Arlington-Alexandria, DC-VA-MD-WV?
The median annual salary for a Actuaries in Washington-Arlington-Alexandria, DC-VA-MD-WV is $146,540. This typically ranges from $97,720 for entry-level positions to $196,550 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Washington-Arlington-Alexandria, DC-VA-MD-WV is 7.9% higher than the national median of $135,770.
Is Washington-Arlington-Alexandria, DC-VA-MD-WV a lucrative place for Actuariess?
Yes, it is a lucrative place for Actuaries.Actuaries in this region earn an average of $146,540, which is higher than the national average, and the cost of living is on par with the national average.
Is Washington-Arlington-Alexandria, DC-VA-MD-WV a good place to live for Actuaries?
The Cost of Living Index in Washington-Arlington-Alexandria, DC-VA-MD-WV is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Washington-Arlington-Alexandria, DC-VA-MD-WV?
Some top paying nearby cities include Baltimore-Columbia-Towson, MD ($133,600) and others.
How does the Actuary salary in Washington-Arlington-Alexandria compare to the national average?
The average Actuary salary in Washington-Arlington-Alexandria is $146,540, which is notably higher than the national average of $135,770.
What is the concentration of Actuaries in this region?
The Location Quotient for Actuaries in Washington-Arlington-Alexandria is 1.2, indicating a slightly higher concentration than the national average.
How does the cost of living affect the Actuary salary in this area?
The cost of living in Washington-Arlington-Alexandria is 100, which is the national average. This means the higher salary offers equivalent purchasing power to the national average.
What is the total number of Actuaries in the Washington-Arlington-Alexandria area?
There are approximately 690 Actuaries employed in the Washington-Arlington-Alexandria, DC-VA-MD-WV 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 690 employees in the Washington-Arlington-Alexandria, DC-VA-MD-WV area with a job density of 0.221 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 Washington-Arlington-Alexandria, DC-VA-MD-WV