Business & Finance Paterson, NJ Pop. 159,732

Actuary Salary in Paterson, New Jersey

The median actuary salary in Paterson, NJ is $128,809 per year, which is 13.0% above the national median and 8.1% below the New Jersey state average.

City Median
$128,809
vs State Avg
$-11,399
vs National
+$14,819
Cost of Living
105%

Actuary Salary in Paterson by Experience

In Paterson, an entry-level actuary earns around $79,100, while experienced professionals earn up to $197,750 per year. The local cost of living index is 105% of the national average.

Entry Level (0-2 yrs)
$79,100
+$9,100 vs national
Mid Level (3-7 yrs)
$129,950
+$14,950 vs national
Senior Level (8+ yrs)
$197,750
+$22,750 vs national

Salary Percentiles in Paterson, NJ

Percentile Paterson
10th Percentile $77,292
25th Percentile $98,536
Median (50th) $128,809
75th Percentile $170,630
90th Percentile $221,491

Actuary Salary in Other New Jersey Cities

Jersey City, NJ
$155,026
Pop. 292,449
Edison, NJ
$140,208
Pop. 107,588
Newark, NJ
$136,788
Pop. 311,549
Elizabeth, NJ
$132,228
Pop. 137,298

How to Become a Actuary in Paterson

Education

Most actuary positions require a bachelor's degree. Paterson 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 Paterson may vary based on local industry and population growth.

Find Actuary Jobs in Paterson

Browse open actuary positions in Paterson, NJ:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Actuary Salary in Paterson

How much does a Actuary make in Paterson, NJ? ▼
The median actuary salary in Paterson, New Jersey is $128,809 per year, which is 13.0% above the national median of $113,990. Salaries range from $77,292 (10th percentile) to $221,491 (90th percentile).
How much does a Actuary make per hour in Paterson? ▼
Based on the median annual salary of $128,809, a actuary in Paterson earns approximately $62 per hour assuming a standard 2,080-hour work year.
How does Paterson compare to the New Jersey state average for actuary pay? ▼
Paterson's median actuary salary of $128,809 is 8.1% below the New Jersey state average of $140,208. The local cost of living index is 105% of the national average.
What is the cost of living in Paterson, NJ? ▼
Paterson has a cost of living index of 105% compared to the national average. This means a actuary salary of $128,809 in Paterson has less purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a actuary in Paterson? ▼
Most actuary positions in Paterson 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.