Actuaries Salary in New York, NY-NJ

In New York-NJ, actuaries earn a median annual salary of $140,640, with hourly earnings averaging $67.62. This positions them well above the national median for the occupation, which stands at $125,770. Compared to the local area's median household income of $97,334, actuaries' earnings are significantly higher, underscoring the specialized skills and expertise required in this field. The substantial salary differential highlights the value placed on actuarial roles within financial institutions, insurance companies, and government sectors, reflecting both the demand for these professionals and their impact on risk management and financial planning.

Entry-level actuaries in New York-NJ typically earn closer to $81,500 annually, aligning with the 10th percentile mark. As they gain experience, earnings rise substantially, reaching up to $186,000 at the 75th percentile. This disparity is driven by several factors including years of service, level of education, and professional certifications such as the Actuarial Exams or Fellowship (FSA) status. Additionally, experienced actuaries often command higher salaries due to their ability to take on more complex responsibilities, contribute strategically to business decisions, and lead teams. The robust demand for actuaries in high-cost living areas like New York-NJ also plays a crucial role in driving salary differences between entry-level and seasoned professionals.