Actuary Salary in Passaic, NJ: $151,275 (2026)
Quick Answer:A full-time actuary in Passaic, NJ earns a median $151,275/year (≈ $72.73/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Passaic's price level (15% above national, BEA RPP 115.2), that paycheck buys what $131,315 would nationally. Nominal pay sits 2.1% below the New Jersey state average.
Based on BLS state-level estimates · View source
With a projected median annual compensation of $151,275 for 2026, the actuary salary in Passaic outpaces the national benchmark of $134,160 by a notable 12.76%. Salary ranges reflect a diverse market, with entry-level positions starting at $95,291 and top-tier earners reaching up to $234,476. These figures are based on estimates derived from 2025 BLS data, adjusted for local economic conditions. A key factor in this salary gradient is the difference in compensation between consulting roles at firms like Mercer and Milliman versus traditional insurance positions. As the demand for skilled actuaries in both sectors grows, the Passaic area presents a robust employment landscape for professionals aspiring to advance their careers.
About the Passaic Market
Salary estimated from New Jersey average ($142,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $95,291 | $45.81 |
| Lower Range (P25) | $115,430 | $55.49 |
| Median (P50)(typical) | $151,275 | $72.73 |
| Upper Range (P75) | $193,632 | $93.10 |
| Top Earners (P90) | $234,476 | $112.73 |
Median Salary Position
12.76% above the national average
2026 Salary Percentile Distribution in Passaic
In Passaic, NJ, the actuary salary spread from the 10th to 90th percentile is $139,185 (2026 est.). At $151,275, the local median is 12.76% above the national median of $134,160.
Salary Calculator
At 40 hours/week in Passaic: You'd be in the lower-middle range
How Passaic Actuary Pay Compares
Passaic median: $151,275/year (2026)
| Compared To | Median Salary | Passaic Pays |
|---|---|---|
| New Jersey Average | $154,520 | -2.10% less |
| National Average | $134,160 | +12.76% more |
Actuarys in Passaic, NJ earn a median of $151,275 per year (2026 est.), which is 12.76% higher than the national median of $134,160 and 2.10% below the New Jersey state average of $154,520.
Cost-of-Living Adjusted Salary
Passaic has a cost of living 15.20% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Passaic, NJ has a cost-of-living index of 115.2 (above the national average of 100). While the nominal salary of $151,275 is competitive, the higher cost of living reduces purchasing power to an effective $131,315 — a 13.19% reduction.
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2019 BLS Actual
$122,172
2025 BLS Actual
$146,584
2026 Current Est.
$151,275
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Passaic (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $122,172 | Actual |
| 2020 | $125,194 | Actual |
| 2021 | $119,410 | Actual |
| 2022 | $128,532 | Actual |
| 2023 | $135,308 | Actual |
| 2024 | $160,115 | Actual |
| 2025 | $146,584 | Actual |
| 2026(current) | $151,275 | Estimated |
| 2027 | $156,115 | Projected |
Based on 7 years of BLS OEWS data for the Passaic metropolitan area, the median actuary salary grew 20.0% from $122,172 (2019) to $146,584 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $156,115 by 2027 — a total increase of $33,943 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Passaic 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) | $95,291 – $115,430 |
| 3-5 years (Mid Career) | $115,430 – $151,275 |
| 5+ years (Experienced) | $151,275 – $193,632 |
| 10+ years (Top Earner) | $193,632 – $234,476 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Passaic
Currently, the local job market comprises 18 actuaries, highlighting a community where opportunities for professional growth exist, albeit within a competitive atmosphere. The cost-of-living index for Passaic, set at 115.2, means that take-home purchasing power for salaries can vary significantly depending on living expenses. Employers like Prudential and MetLife tend to offer higher compensation within the life insurance domain, while consulting firms such as WTW and Aon often provide premium packages for fellows holding FSA credentials. Generating significant variance in pay comes from factors like exam progression and specialty focus—consulting and property & casualty roles generally command higher salaries compared to life or health sectors. For those looking to maximize income in the Passaic market, focusing on additional exams, obtaining industry-recognized credentials, and acquiring skills in data science or predictive analytics can significantly enhance earning potential.
More salary data for Passaic, 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 $146,584 for actuariesin the Passaic 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 Passaic 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