Actuary Hourly Pay in Parsippany-Troy Hills, NJ: $75.20 (2026)
Quick Answer:Hourly pay for a actuary working in Parsippany-Troy Hills, NJ runs $75.20 at the median for 2026 — annualizing to $156,416 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 15-2011). Weighted against Parsippany-Troy Hills's regional price level (BEA RPP 115.2, 15% above national), each hour of work buys what $65.28 nationally would. A 24-hour part-time schedule grosses $93,852 per year.
Based on BLS state-level estimates · View source
At an hourly rate of $75.20, actuaries in Parsippany-Troy Hills, NJ, find themselves well-compensated compared to the national average of $64.50. This favorable rate can be particularly appealing to part-time professionals who might choose to work just three days a week. In such arrangements, an actuary could earn approximately $58,176 annually while allowing for a flexible work-life balance. The hourly pay ranges significantly across experience levels, with entry-level positions starting at $43.61 and seasoned experts earning as much as $116.56 per hour. The data reflects a growing demand for actuarial services in insurance, consulting, and financial institutions, meaning opportunities abound for those seeking either full or part-time engagement in the field.
About the Parsippany-Troy Hills 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) | $43.61 | $348.90 |
| Lower Range (P25) | $54.25 | $434.02 |
| Median (P50) | $75.20 | $601.61 |
| Upper Range (P75) | $96.25 | $770.04 |
| Top Earners (P90) | $116.56 | $932.52 |
Estimated Annual Income by Work Schedule in Parsippany-Troy Hills
Based on $75.20/hr median hourly rate · 2026 est.
At $75.20/hr, a actuary working full-time (40 hr/wk) in Parsippany-Troy Hills, NJ can expect to earn approximately $156,420 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $90,242. With a cost-of-living index of 115.20 (above the national average), these earnings may be offset by higher expenses in Parsippany-Troy Hills.
Hourly Rate Calculator
Schedule Comparison in Parsippany-Troy Hills
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $3,008.07 | $13,035 | $156,420 |
| Part-Time (24 hrs) | $1,804.84 | $7,821 | $93,852 |
| Per Diem (16 hrs) | $1,203.23 | $5,214 | $62,568 |
Compare ASA, FSA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Actuary (Parsippany-Troy Hills) | $75.20 |
| Statistician (National Avg) | $51.53 |
| Mathematician (National Avg) | $56.16 |
| Financial Analyst (National Avg) | $47.61 |
| Data Scientist (National Avg) | $54.40 |
Actuarys in Parsippany-Troy Hills, NJ earn a median of $156,416 per year (2026 est.), which is 16.59% higher than the national median of $134,160 and 1.20% above the New Jersey state average of $154,561.
Actuary Hourly Pay vs. Cost of Living
Working 24h/week at $75.20/hr = $93,852/year (purchasing power: $81,469).
Working 40h/week (full-time) = $156,420/year (purchasing power: $135,781).
CoL index: 115.2 (100 = national average).
2019 BLS Actual
$60.73/hr
2025 BLS Actual
$72.87/hr
2026 Current Est.
$75.20/hr
2019–2027 Growth
+27.8%
Hourly Rate Trajectory for Actuaries in Parsippany-Troy Hills (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $60.73/hr | Actual |
| 2020 | $62.24/hr | Actual |
| 2021 | $59.36/hr | Actual |
| 2022 | $63.90/hr | Actual |
| 2023 | $67.26/hr | Actual |
| 2024 | $79.59/hr | Actual |
| 2025 | $72.87/hr | Actual |
| 2026(current) | $75.20/hr | Estimated |
| 2027 | $77.61/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for actuaries in Parsippany-Troy Hills grew 20.0% from $60.73/hr (2019) to $72.87/hr (2025). At a 3.20% projected growth rate, hourly pay is expected to reach $77.61/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 Parsippany-Troy Hills 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 Parsippany-Troy Hills
For actuaries focused on per diem or agency work, hourly earnings can vary drastically based on the type of contract and employer. While it’s uncommon for junior staff to receive per diem opportunities directly, those with FSA or FCAS credentials often command higher rates—typically ranging from $250 to $500 an hour for consulting engagements. In the context of litigation, expert witness work can demand between $400 to $800 per hour. Actuaries can also see notable differences in compensation based on employer type; for instance, life insurance companies tend to offer solid benefits in exchange for competitive hourly rates, while consulting firms may provide higher pay without the safety net of health insurance. This nuanced trade-off can shape career choices significantly. Local actuaries should consider negotiation strategies tailored to Parsippany-Troy Hills and understand the factors influencing hourly rate fluctuations across the sector to maximize their earning potential.
More salary data for Parsippany-Troy Hills, NJ:
Frequently Asked Questions
What is the hourly rate for actuaries in Parsippany-Troy Hills in 2026?
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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 Parsippany-Troy Hills. 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 Parsippany-Troy Hills 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