Business & Finance Newark, NJ Pop. 311,549

Actuary Salary in Newark, New Jersey

The median actuary salary in Newark, NJ is $136,788 per year, which is 20.0% above the national median and 2.4% below the New Jersey state average.

City Median
$136,788
vs State Avg
$-3,420
vs National
+$22,798
Cost of Living
112%

Actuary Salary in Newark by Experience

In Newark, an entry-level actuary earns around $84,000, while experienced professionals earn up to $210,000 per year. The local cost of living index is 112% of the national average.

Entry Level (0-2 yrs)
$84,000
+$14,000 vs national
Mid Level (3-7 yrs)
$138,000
+$23,000 vs national
Senior Level (8+ yrs)
$210,000
+$35,000 vs national

Salary Percentiles in Newark, NJ

Percentile Newark
10th Percentile $82,080
25th Percentile $104,640
Median (50th) $136,788
75th Percentile $181,200
90th Percentile $235,212

Actuary Salary in Other New Jersey Cities

Jersey City, NJ
$155,026
Pop. 292,449
Edison, NJ
$140,208
Pop. 107,588
Elizabeth, NJ
$132,228
Pop. 137,298
Paterson, NJ
$128,809
Pop. 159,732

How to Become a Actuary in Newark

Education

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

Find Actuary Jobs in Newark

Browse open actuary positions in Newark, NJ:

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Frequently Asked Questions: Actuary Salary in Newark

How much does a Actuary make in Newark, NJ? ▼
The median actuary salary in Newark, New Jersey is $136,788 per year, which is 20.0% above the national median of $113,990. Salaries range from $82,080 (10th percentile) to $235,212 (90th percentile).
How much does a Actuary make per hour in Newark? ▼
Based on the median annual salary of $136,788, a actuary in Newark earns approximately $66 per hour assuming a standard 2,080-hour work year.
How does Newark compare to the New Jersey state average for actuary pay? ▼
Newark's median actuary salary of $136,788 is 2.4% below the New Jersey state average of $140,208. The local cost of living index is 112% of the national average.
What is the cost of living in Newark, NJ? ▼
Newark has a cost of living index of 112% compared to the national average. This means a actuary salary of $136,788 in Newark has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a actuary in Newark? ▼
Most actuary positions in Newark require a bachelor's degree. Key skills include Statistical Modeling, Risk Assessment, Financial Mathematics, Excel/VBA. The job market is projected to grow 21% nationally over the next decade.