Actuary Salary in Schenectady, NY: $150,593 (2026)
Quick Answer:A full-time actuary in Schenectady, NY earns a median $150,593/year (≈ $72.41/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 15-2011). Once you factor in Schenectady's price level (16% above national, BEA RPP 115.9), that paycheck buys what $129,934 would nationally. Nominal pay sits 3.2% below the New York state average.
Based on BLS state-level estimates · View source
In 2026, actuaries in Schenectady, NY, can expect to earn a median annual salary of $150,593, significantly above the national figure of $134,160, highlighting a competitive market. With a salary range spanning from $92,356 at the 10th percentile to $233,419 at the 90th percentile, these figures reflect local estimates derived from 2025 BLS data adjusted for regional cost factors. Actuary pay in Schenectady shows a pronounced variation based on the type of employer, particularly distinguishing between consultant firms like Milliman and Mercer versus insurance companies. This growing field, fueled by a projected annual growth rate of 3.20%, indicates a healthy job market for actuaries in the area.
About the Schenectady Market
Salary estimated from New York average ($152,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $92,356 | $44.41 |
| Lower Range (P25) | $113,030 | $54.35 |
| Median (P50)(typical) | $150,593 | $72.41 |
| Upper Range (P75) | $192,758 | $92.67 |
| Top Earners (P90) | $233,419 | $112.22 |
Median Salary Position
12.25% above the national average
2026 Salary Percentile Distribution in Schenectady
In Schenectady, NY, the actuary salary spread from the 10th to 90th percentile is $141,063 (2026 est.). At $150,593, the local median is 12.25% above the national median of $134,160.
Salary Calculator
At 40 hours/week in Schenectady: You'd be in the lower-middle range
How Schenectady Actuary Pay Compares
Schenectady median: $150,593/year (2026)
| Compared To | Median Salary | Schenectady Pays |
|---|---|---|
| New York Average | $155,571 | -3.20% less |
| National Average | $134,160 | +12.25% more |
Actuarys in Schenectady, NY earn a median of $150,593 per year (2026 est.), which is 12.25% higher than the national median of $134,160 and 3.20% below the New York state average of $155,571.
Cost-of-Living Adjusted Salary
Schenectady has a cost of living 15.90% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Schenectady, NY has a cost-of-living index of 115.9 (above the national average of 100). While the nominal salary of $150,593 is competitive, the higher cost of living reduces purchasing power to an effective $129,934 — a 13.72% reduction.
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2019 BLS Actual
$121,621
2025 BLS Actual
$145,923
2026 Current Est.
$150,593
2019–2027 Growth
+27.8%
Salary Trajectory for Actuaries in Schenectady (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.20% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $121,621 | Actual |
| 2020 | $124,629 | Actual |
| 2021 | $118,871 | Actual |
| 2022 | $127,952 | Actual |
| 2023 | $134,698 | Actual |
| 2024 | $170,618 | Actual |
| 2025 | $145,923 | Actual |
| 2026(current) | $150,593 | Estimated |
| 2027 | $155,411 | Projected |
Based on 7 years of BLS OEWS data for the Schenectady metropolitan area, the median actuary salary grew 20.0% from $121,621 (2019) to $145,923 (2025). At a 3.20% compound annual growth rate, salaries are projected to reach $155,411 by 2027 — a total increase of $33,790 (27.78%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Schenectady 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) | $92,356 – $113,030 |
| 3-5 years (Mid Career) | $113,030 – $150,593 |
| 5+ years (Experienced) | $150,593 – $192,758 |
| 10+ years (Top Earner) | $192,758 – $233,419 |
ASA, FSA salary ranges estimated from BLS percentile data. Individual actuary compensation varies by employer, certifications, and specialization.
Actuary Job Market in Schenectady
Currently, only 16 actuaries are employed in Schenectady, making it vital to consider the local job market's dynamics when assessing the actuary salary in Schenectady. With a cost-of-living index of 115.9, the higher expenses may affect take-home pay, although salaries remain robust within the insurance sector, particularly for life and health insurers like Prudential and UnitedHealth, which often offer competitive packages. The significant disparity in earnings is often influenced by factors such as exam progression, with each passed exam typically increasing base pay by $3,000 to $8,000, as well as the specific market focus—property and casualty reinsurance generally commanding higher wages than other segments. Maximizing pay in Schenectady requires strategic navigation of career growth, emphasizing continued education and credentials, especially for those aiming to transition from ASA to FSA.
More salary data for Schenectady, NY:
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 $145,923 for actuariesin the Schenectady 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 Schenectady 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