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
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.