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Actuary III Salary in Minneapolis, MN

How much does an Actuary III make in Minneapolis, MN?

As of October 01, 2026, the average salary for an Actuary III in Minneapolis, MN is $112,757 per year, which breaks down to an hourly rate of $54.

However, an Actuary III's salary can vary significantly. Here’s a look at the typical salary range:

  • Top Earners (90th percentile): $132,594
  • Majority Range (25th-75th percentile): $104,029 to $123,141
  • Entry-Level (10th percentile): $96,082
Salary Factors Salary-Boosting Skills Salary by Experience Related Job Salaries Top Paying Cities Explore Related Jobs

Key Factors That Influence Actuary III Salaries

An Actuary III's salary isn't a fixed number. It's shaped by several important factors. Below, we'll explore how your years of experience, geographic location, skills and company size can directly affect your earning potential.

How Experience Level Affects Actuary III Salaries?

Experience is a primary driver of an Actuary III's salary. As you build your skills and take on more complex tasks, your compensation generally increases. Here's how the average salary grows at different career stages:

  • Actuary I (0-2 years): $84,448
  • Actuary II (2-4 years): $97,342
  • Actuary III (4-7 years): $112,757
  • Actuary IV (7+ years): $147,136
  • Actuary V (7-10 years): $172,333
Job Role Years of Experience Average Salary
Actuary I0-2 years$84,448
Actuary II2-4 years$97,342
Actuary III4-7 years$112,757
Actuary IV7+ years$147,136
Actuary V7-10 years$172,333
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Top Paying Cities for Actuary IIIs

Salaries can also vary between different cities. Major metropolitan areas or cities with a high demand for technicians often offer more competitive pay. Here are a few examples of average annual salaries in different U.S. cities:

  • San Jose: $136,149
  • San Francisco: $134,658
  • Oakland: $131,820

What Skills Can Increase an Actuary III's Salary?

Demanded Skills for the Role:

  • Analysis (Mentioned in 9.3% Job Postings): Analysis is the process of considering something carefully or using statistical methods in order to understand it or explain it.
  • SQL (Mentioned in 2.26% Job Postings): Structured Query Language) is a domain-specific language used in programming and designed for managing data held in a relational database management system (RDBMS), or for stream processing in a relational data stream management system (RDSMS).
  • Collective Bargaining (Mentioned in 1.24% Job Postings): Collective bargaining is a process of negotiation between employers and a group of employees aimed at agreements to regulate working salaries, working conditions, benefits, and other aspects of workers' compensation and rights for workers. The interests of the employees are commonly presented by representatives of a trade union to which the employees belong. The collective agreements reached by these negotiations usually set out wage scales, working hours, training, health and safety, overtime, grievance mechanisms, and rights to participate in workplace or company affairs. The union may negotiate with a single employer (who is typically representing a company's shareholders) or may negotiate with a group of businesses, depending on the country, to reach an industry-wide agreement. A collective agreement functions as a labour contract between an employer and one or more unions. Collective bargaining consists of the process of negotiation between representatives of a union and employers (generally represented by management, or, in some countries such as Austria, Sweden and the Netherlands, by an employers' organization) in respect of the terms and conditions of employment of employees, such as wages, hours of work, working conditions, grievance procedures, and about the rights and responsibilities of trade unions. The parties often refer to the result of the negotiation as a collective bargaining agreement (CBA) or as a collective employment agreement (CEA).
Skills Demand Percentage
Analysis 9.3%
SQL 2.26%
Collective Bargaining 1.24%
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What skills can make your compensation higher?

Mastering certain specialized skills can lead to a significant increase in pay. Here are examples of skills and the potential impact they can have on an Actuary III's salary.

  • ISO: Can increase your salary by up to 9%.
  • Coaching: Can increase your salary by up to 8%.
  • Teamwork: Can increase your salary by up to 5%.
Skill Salary Salary % Increase
ISO $122,905
9%
Coaching $121,778
8%
Teamwork $118,395
5%
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Actuary III Salary by Company Size: Startups vs. Enterprise

Actuary III salary potential scales significantly with company size. Data shows that Enterprise companies (5,000+ employees) pay the highest average salary at around $125,882. While startup companies pay approximate $106,590.

Actuary III Salary by Company Size

Company Size Employees Average Salary
Startup 1~50 $106,590
Growth Stage 51~500 $112,705
Established 501~5000 $121,549
Enterprise 5000+ $125,882

Actuary III Salary by Industry: Top Paying Sectors

For Actuary III roles, the industry you choose can affect earning potential by as much as 20% (the gap between the highest and lowest paying industries). Data shows that the Aerospace & Defense and Biotechnology sectors offer the strongest compensation, at 10% above the average. In contrast, Actuary positions in Transportation or Telecom typically offer lower base pay, as these industries often view Actuary III as a support function rather than a direct revenue driver.

The top paying industry for an Actuary III

Industry Sector Average Annual Salary Average Hourly Rate Pay vs.Avg
Aerospace & Defense$118,737$57.010%

Actuary III Salary: Hourly Rate, Weekly Pay, and Monthly Pay

Understanding how an Actuary III's annual salary breaks down can help with budgeting. Below, you can see the average hourly rate, weekly pay, and monthly pay for this role. Use the buttons to switch between different pay periods.

Last Updated on October 01, 2026
$104,029
Average $112,757/year
$123,141
$8,669
Average $9,396/month
$10,262
$2,001
Average $2,168/week
$2,368
$50
Average $54/hour
$59
Annual Salary Monthly Pay Weekly Pay Hourly Wage
75th Percentile $123,141 $10,262 $2,368 $59
Average $112,757 $9,396 $2,168 $54
25th Percentile $104,029 $8,669 $2,001 $50

Actuary III Salary Growth & Career Path

Actuary III

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Advancement

For an Actuary III, the most direct path to higher earnings is advancing to the Actuary IV role. This promotion typically comes with a significant pay increase, bringing the average annual salary to $147,136 - a projected growth of 30% over your current level.

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Where Does Our Salary Data Come From?

Salary.com salary estimates, histograms, trends, and comparisons are derived from both employer job postings and third-party data sources. We also provide multiple percentiles of salary information for your reference, click here to know Why the Salary Midpoint Formula Is Crucial to Getting Pay Equity Right. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.

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