Business & Finance Springfield, MA Pop. 155,929

Actuary Salary in Springfield, Massachusetts

The median actuary salary in Springfield, MA is $119,690 per year, which is 5.0% above the national median and 26.1% below the Massachusetts state average.

City Median
$119,690
vs State Avg
$-42,176
vs National
+$5,700
Cost of Living
98%

Actuary Salary in Springfield by Experience

In Springfield, an entry-level actuary earns around $73,500, while experienced professionals earn up to $183,750 per year. The local cost of living index is 98% of the national average.

Entry Level (0-2 yrs)
$73,500
+$3,500 vs national
Mid Level (3-7 yrs)
$120,750
+$5,750 vs national
Senior Level (8+ yrs)
$183,750
+$8,750 vs national

Salary Percentiles in Springfield, MA

Percentile Springfield
10th Percentile $71,820
25th Percentile $91,560
Median (50th) $119,690
75th Percentile $158,550
90th Percentile $205,811

Actuary Salary in Other Massachusetts Cities

Cambridge, MA
$190,363
Pop. 118,403
Boston, MA
$181,244
Pop. 675,647
Worcester, MA
$133,368
Pop. 206,518
Lowell, MA
$127,669
Pop. 115,554

How to Become a Actuary in Springfield

Education

Most actuary positions require a bachelor's degree. Springfield and the surrounding Massachusetts 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 Springfield may vary based on local industry and population growth.