Actuary Hourly Pay in Montclair, NJ: $73.57 (2026)
Quick Answer:Hourly pay for a actuary working in Montclair, NJ runs $73.57 at the median for 2026 — annualizing to $153,028 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Montclair's regional price level (BEA RPP 115.2, 15% above national), each hour of work buys what $63.86 nationally would. A 24-hour part-time schedule grosses $91,817 per year.
Based on BLS state-level estimates · View source
In Montclair, New Jersey, actuaries earn a median hourly pay of $73.57. This rate is significantly higher than the national median of $64.50, making the profession an attractive option for those considering careers in the mathematical or financial sectors. For part-time actuaries working three days a week, this translates to a solid income that can supplement other pursuits or provide a comfortable lifestyle without the demands of a full-time schedule. Additionally, the hourly pay range stretches from $45.29 for entry-level positions to $114.04 for top earners, which reflects the varied experience levels and specialized skills within the field. These hourly rates are estimated from annual salary data, offering a practical perspective for those contemplating employment in insurance company actuarial pricing departments or consulting firms in Montclair.
About the Montclair Market
Salary estimated from New Jersey average ($142,000) adjusted for local cost of living.
Actuary Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $45.29 | $362.36 |
| Lower Range (P25) | $58.24 | $465.89 |
| Median (P50) | $73.57 | $588.57 |
| Upper Range (P75) | $94.06 | $752.45 |
| Top Earners (P90) | $114.04 | $912.29 |
Estimated Annual Income by Work Schedule in Montclair
Based on $73.57/hr median hourly rate · 2026 est.
At $73.57/hr, a actuary working full-time (40 hr/wk) in Montclair, NJ can expect to earn approximately $153,028 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $88,286. With a cost-of-living index of 115.20 (above the national average), these earnings may be offset by higher expenses in Montclair.
Hourly Rate Calculator
Schedule Comparison in Montclair
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $2,942.85 | $12,752 | $153,028 |
| Part-Time (24 hrs) | $1,765.71 | $7,651 | $91,817 |
| Per Diem (16 hrs) | $1,177.14 | $5,101 | $61,211 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Montclair) | $73.57 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Montclair, NJ earn a median of $153,028 per year (2026 est.), which is 14.06% higher than the national median of $134,160 and 1.00% below the New Jersey state average of $154,574.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $73.57/hr = $91,817/year (purchasing power: $79,702).
Working 40h/week (full-time) = $153,028/year (purchasing power: $132,837).
CoL index: 115.2 (100 = national average).
2019 BLS Actual
$59.42/hr
2025 BLS Actual
$71.29/hr
2026 Current Est.
$73.57/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Montclair (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $59.42/hr | Actual |
| 2020 | $60.89/hr | Actual |
| 2021 | $58.07/hr | Actual |
| 2022 | $62.51/hr | Actual |
| 2023 | $65.81/hr | Actual |
| 2024 | $77.87/hr | Actual |
| 2025 | $71.29/hr | Actual |
| 2026(current) | $73.57/hr | Estimated |
| 2027 | $75.93/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Montclair grew 20.0% from $59.42/hr (2019) to $71.29/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $75.93/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 Montclair 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 Montclair
Earning potential for part-time actuaries reveals a compelling scenario, particularly for those working around 24 hours a week. Such a schedule could yield an annual income of approximately $91,000, a figure that aligns well with many private-sector jobs in Montclair. Per diem or contract work in actuarial roles is uncommon for junior actuaries, but those at the FSA or FCAS level can command between $250 and $500 per hour in consulting engagements. Experienced professionals providing expert witness testimony can expect even higher rates, ranging from $400 to $800 per hour. Actuarial salaries in Montclair vary by employer type; for instance, life insurance companies like Prudential and MetLife may offer different pay scales compared to consulting firms such as Milliman or Aon. Some actuaries may opt for positions with lower hourly pay in exchange for health benefits, while others may prioritize higher hourly compensation without benefits. Negotiating your rate can be pivotal in this competitive job market, especially by emphasizing specialized skills related to predictive analytics and data science, which have become increasingly valued in the industry.
More salary data for Montclair, NJ:
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 Montclair. 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 Montclair 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