Actuary Salary in Franklin, NJ: $156,685 (2026)
Quick Answer:A full-time actuary in Franklin, NJ earns a median $156,685/year (≈ $75.33/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Franklin's price level (15% above national, BEA RPP 115.2), that paycheck buys what $136,011 would nationally. Nominal pay sits 1.4% above the New Jersey state average.
Based on BLS state-level estimates · View source
In 2026, actuaries in Franklin, NJ, can expect to earn a median annual salary of $156,685, reflecting a robust demand for their expertise in various sectors such as life insurance, health insurance, and pensions. The salary range for this occupation is quite wide, spanning from $95,030 at the 10th percentile to $242,863 at the 90th percentile. These figures are derived from the 2025 BLS data, adjusted for local cost considerations, illustrating a local market that offers competitive compensation, particularly for those engaged in sectors with higher demands. The specialty market, specifically those with CAS qualifications in property and casualty, tends to command higher pay, positioning Franklin as an appealing area for aspiring and experienced actuaries alike.
About the Franklin Market
Salary estimated from New Jersey average ($142,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $95,030 | $45.69 |
| Lower Range (P25) | $116,806 | $56.16 |
| Median (P50)(typical) | $156,685 | $75.33 |
| Upper Range (P75) | $200,558 | $96.42 |
| Top Earners (P90) | $242,863 | $116.76 |
Median Salary Position
16.79% above the national average
2026 Salary Percentile Distribution in Franklin
In Franklin, NJ, the actuary salary spread from the 10th to 90th percentile is $147,833 (2026 est.). At $156,685, the local median is 16.79% above the national median of $134,160.
Salary Calculator
At 40 hours/week in Franklin: You'd be in the lower-middle range
How Franklin Actuary Pay Compares
Franklin median: $156,685/year (2026)
| Compared To | Median Salary | Franklin Pays |
|---|---|---|
| New Jersey Average | $154,522 | +1.40% more |
| National Average | $134,160 | +16.79% more |
Actuarys in Franklin, NJ earn a median of $156,685 per year (2026 est.), which is 16.79% higher than the national median of $134,160 and 1.40% above the New Jersey state average of $154,522.
Cost-of-Living Adjusted Salary
Franklin has a cost of living 15.20% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Franklin, NJ has a cost-of-living index of 115.2 (above the national average of 100). While the nominal salary of $156,685 is competitive, the higher cost of living reduces purchasing power to an effective $136,011 — a 13.19% reduction.
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2019 BLS Actual
$126,542
2025 BLS Actual
$151,827
2026 Current Est.
$156,685
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Franklin (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $126,542 | Actual |
| 2020 | $129,672 | Actual |
| 2021 | $123,681 | Actual |
| 2022 | $133,129 | Actual |
| 2023 | $140,148 | Actual |
| 2024 | $165,841 | Actual |
| 2025 | $151,827 | Actual |
| 2026(current) | $156,685 | Estimated |
| 2027 | $161,699 | Projected |
Based on 7 years of BLS OEWS data for the Franklin metropolitan area, the median actuary salary grew 20.0% from $126,542 (2019) to $151,827 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $161,699 by 2027 — a total increase of $35,157 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Franklin 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.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $95,030 – $116,806 |
| 3-5 years (Mid Career) | $116,806 – $156,685 |
| 5+ years (Experienced) | $156,685 – $200,558 |
| 10+ years (Top Earner) | $200,558 – $242,863 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Franklin
Analyzing the local job market reveals that there are 15 actuaries currently employed in Franklin, offering a compact but significant pool for networking and mentorship. The area's cost-of-living index of 115.2 indicates that while salaries may be higher than the national average, living expenses can also weigh heavily on take-home pay. Actuaries in Franklin may find the best compensation potential with large employers like Prudential and UnitedHealth, or through consulting firms like Mercer and Aon, where pay tends to soar for professionals who achieve verbal or technical qualifications like FSA or FCAS. The disparity in pay levels can be traced to factors such as exam progression, where each passed exam equates to an increase in salary, and the type of market expertise possessed. To enhance earning potential, prospective actuaries should focus on completing exams efficiently and seeking sectors with robust growth in predictive analytics and data science capabilities — skills increasingly essential across all actuarial domains.
More salary data for Franklin, 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
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $151,827 for actuariesin the Franklin metropolitan area. A 3.20% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Franklin 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