Business & Finance Silver Spring, MD Pop. 81,015

Actuary Salary in Silver Spring, Maryland

The median actuary salary in Silver Spring, MD is $144,767 per year, which is 27.0% above the national median and 10.4% above the Maryland state average.

City Median
$144,767
vs State Avg
+$13,678
vs National
+$30,777
Cost of Living
122%

Actuary Salary in Silver Spring by Experience

In Silver Spring, an entry-level actuary earns around $88,900, while experienced professionals earn up to $222,250 per year. The local cost of living index is 122% of the national average.

Entry Level (0-2 yrs)
$88,900
+$18,900 vs national
Mid Level (3-7 yrs)
$146,050
+$31,050 vs national
Senior Level (8+ yrs)
$222,250
+$47,250 vs national

Salary Percentiles in Silver Spring, MD

Percentile Silver Spring
10th Percentile $86,868
25th Percentile $110,744
Median (50th) $144,767
75th Percentile $191,770
90th Percentile $248,933

Actuary Salary in Other Maryland Cities

Columbia, MD
$140,208
Pop. 104,681
Germantown, MD
$136,788
Pop. 90,676
Baltimore, MD
$128,809
Pop. 585,708
Waldorf, MD
$125,389
Pop. 77,000

How to Become a Actuary in Silver Spring

Education

Most actuary positions require a bachelor's degree. Silver Spring and the surrounding Maryland area have institutions offering relevant programs.

Key Skills

Statistical ModelingRisk AssessmentFinancial MathematicsExcel/VBASQLActuarial Exams

Job Outlook

Nationally, actuary employment is projected to grow 21% over the next decade (much faster than average). Demand in Silver Spring may vary based on local industry and population growth.