Actuary Hourly Pay in Shakopee, MN: $61.54 (2026)
Quick Answer:Hourly pay for a actuary working in Shakopee, MN runs $61.54 at the median for 2026 — annualizing to $127,994 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Shakopee's regional price level (BEA RPP 98.5, 1% below national), each hour of work buys what $62.48 nationally would. A 24-hour part-time schedule grosses $76,800 per year.
Based on BLS state-level estimates · View source
In 2026, actuaries in Shakopee, Minnesota, can expect a median hourly pay of $61.54, which is slightly below the national hourly median of $64.50. This rate indicates a robust earning potential not just for full-time professionals but also for part-time actuaries working three days a week, who might earn a stable income while maintaining work-life balance. For example, in a typical actuarial environment within insurance companies or consulting firms, entry-level professionals might earn approximately $40.70 per hour, while more experienced actuaries can command rates as high as $95.38, showcasing the significant range in earnings depending on experience and specific employer contexts. These hourly rates are derived from annual salary data, reflecting the diverse opportunities available in Shakopee's actuarial landscape.
About the Shakopee Market
Salary estimated from Minnesota average ($128,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $40.70 | $325.62 |
| Lower Range (P25) | $48.41 | $387.29 |
| Median (P50) | $61.54 | $492.31 |
| Upper Range (P75) | $78.38 | $627.04 |
| Top Earners (P90) | $95.38 | $763.02 |
Estimated Annual Income by Work Schedule in Shakopee
Based on $61.54/hr median hourly rate · 2026 est.
At $61.54/hr, a actuary working full-time (40 hr/wk) in Shakopee, MN can expect to earn approximately $127,999 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $73,846. With a cost-of-living index of 98.50 (below the national average), these earnings stretch further in Shakopee.
Hourly Rate Calculator
Schedule Comparison in Shakopee
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,461.53 | $10,667 | $127,999 |
| Part-Time (24 hrs) | $1,476.92 | $6,400 | $76,800 |
| Per Diem (16 hrs) | $984.61 | $4,267 | $51,200 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Shakopee) | $61.54 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Shakopee, MN earn a median of $127,994 per year (2026 est.), which is 4.60% lower than the national median of $134,160 and 3.10% below the Minnesota state average of $132,089.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $61.54/hr = $76,800/year (purchasing power: $77,969).
Working 40h/week (full-time) = $127,999/year (purchasing power: $129,949).
CoL index: 98.5 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$49.70/hr
2025 BLS Actual
$59.63/hr
2026 Current Est.
$61.54/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Shakopee (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $49.70/hr | Actual |
| 2020 | $50.93/hr | Actual |
| 2021 | $48.58/hr | Actual |
| 2022 | $52.29/hr | Actual |
| 2023 | $55.04/hr | Actual |
| 2024 | $58.71/hr | Actual |
| 2025 | $59.63/hr | Actual |
| 2026(current) | $61.54/hr | Estimated |
| 2027 | $63.51/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Shakopee grew 20.0% from $49.70/hr (2019) to $59.63/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $63.51/hr by 2027. Part-time and per-diem actuaries can use this multi-year trend to benchmark future contract negotiations.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Shakopee metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.20% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Working as an Hourly Actuary in Shakopee
While working part-time for 24 hours a week at the median hourly rate, an actuary would take home around $76,435 annually, which could be appealing compared to a full-time salary lifestyle. Per-diem, or contract work, typically isn't common at junior levels, but those with Fellowship (FSA) or Chartered Enterprise Risk Analyst (CERA) credentials often engage in consulting opportunities, billing clients between $250 and $500 per hour. In Shakopee, the varies based on type of employer; life insurance firms may offer lower hourly rates but provide comprehensive health benefits, while property and casualty insurance companies may appeal to those requiring higher hourly compensation without the same level of benefits. Negotiating hourly pay in Shakopee can hinge on these trade-offs, making it essential for actuaries to clearly articulate their skills and the unique demand for their expertise to secure favorable arrangements.
More salary data for Shakopee, MN:
Frequently Asked Questions
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Written by Maria Chen, FSA, MAAA
Career Analyst
Maria has 10 years of experience in life insurance. She specializes in risk assessment and pricing strategies.
Methodology & Data Source
Hourly wage figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. A 3.20% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to estimate current 2026 hourly rates for actuaries in Shakopee. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Salary data for Shakopee is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.20%, derived from historical BLS wage trends for actuarys (SOC 15-2011).
Compiled and verified by Maria Chen, FSA, MAAA, a licensed actuary with 10+ years of clinical experience. · View source data at BLS.gov