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Actuary Salary in Chicago, IL

How much does the average Actuary make in Chicago, IL?


The average salary for an Actuary in Chicago, IL is between $76,734 and $188,830 as of March 01, 2025. Salary ranges can vary widely depending on the actual Actuary position you are looking for. With more online, real-time compensation data than any other website, Salary.com helps you determine your exact pay target.

About Chicago, Illinois    Chicago (/ʃɪˈkɑːɡoʊ/ (listen), locally also /-ˈkɔː-/), officially the City of Chicago, is the most populous city in Illinois, as well as the third mos....More

Chicago, Illinois  area prices were up 0.8% from a year ago    View the Cost of Living in Chicago, Illinois

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Base Salary

Core compensation

$76,734
$188,830
$132,782
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What is an Actuary?

An actuary uses math, statistics, computer modeling, and analysis to evaluate risk. They look at various events that could occur either to a person or to business and develop scenarios to minimize risk and cost. Many actuaries are employed in the insurance industry and may specialize in an area like health insurance, life insurance, or property insurance.


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Actuarial Analyst I
Alternate Job Titles: Actuarial Analyst I | Actuary Consultant I | Entry Level Actuary | Insurance Actuary I

Utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Assists with product design and development by analyzing risk groups and calculating appropriate ins... View job details

Actuarial Analyst II
Alternate Job Titles: Actuarial Analyst II | Actuary Consultant II | Insurance Actuary II

Utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Assists with product design and development by analyzing risk groups and calculating appropriate ins... View job details

Actuarial Analyst III
Alternate Job Titles: Actuarial Analyst III | Actuary Consultant III | Insurance Actuary III

Utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Assists with product design and development by analyzing risk groups and calculating appropriate ins... View job details

Actuarial Analyst IV
Alternate Job Titles: Actuarial Analyst IV | Actuary Consultant IV | Insurance Actuary IV

Utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Assists with product design and development by analyzing risk groups and calculating appropriate ins... View job details

Actuarial Analyst V
Alternate Job Titles: Actuarial Analyst V | Actuary Consultant V | Insurance Actuary V

Utilizes statistical analysis and modeling to assess and manage risk and estimate financial outcomes. Compiles, prepares, and analyzes data to develop statistical models, probability tables, and actuarial studies and evaluate the likelihood and financial impact of various risks. Assists with product design and development by analyzing risk groups and calculating appropriate ins... View job details

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Actuary

What degree or educational requirements does an actuary need?

Actuaries typically obtain a Bachelor's degree in mathematics, statistics, business, or actuarial science. Coursework in computer science usually is included. Most individuals seeking a career as an actuary work towards certification in one of the major actuarial professional organizations: the Casualty Actuarial Society (CAS) or the Society of Actuaries (SOA). Employers typically support an individual in this pursuit which can take many years of study. The actuarial designations are Associate, which is the first level and Fellow, which is the highest and most difficult to attain.

What are the best schools offering actuarial programs?

Some of the schools with top rated actuarial science programs are Purdue University, Carnegie Mellon University, University of Illinois at Urbana-Champaign, Ohio State University, Columbia University, Georgia State University, University of Nebraska, Temple University, Penn State University, and Drake University.

Are actuaries in demand?

According to the Bureau of Labor Statistics, U.S. Department of Labor, Occupational Outlook Handbook (BLS), employment of Actuaries, in general, is projected to grow about 22 percent from 2016 to 2026. The demand for Actuaries will be strong as insurance companies develop new products and try to reduce costs. Large companies will also employ actuaries to assess risk and help to guide operational policies.

What jobs are similar to or related to actuary?

Risk Manager and Statistician are other jobs that are sometimes related to actuaries.

Where can I find more information about actuary training and career opportunities?

Explore these additional resources for more on the acutarial profession.
American Academy of Actuaries
Casualty Actuarial Society
Society of Actuaries

What is the working environment for an actuary?

An actuary typically works in an office setting.

Actuary Jobs

Job Openings for Actuary in Chicago, IL
Lead Actuary (27726)
Dahl Consulting - Pasadena , CA
Lead Actuary - Commercial Casualty Worksite Location(s): Irvine, CA; Pasadena, CA; New York, NY (Hybrid with minimal travel) Compensation: $250,000-$275,000 base + bonus Our rapidly growing insurance ...
LinkedIn - 5 days ago
Actuary I
SIF, Idaho Workers' Compensation - Boise , ID
Actuary I SIF (Idaho State Insurance Fund) is a leader in Idaho workers' compensation. Because we live and work locally, we recognize that our customers are the backbone of Idaho's economy, and we ...
LinkedIn - 8 days ago
Commercial Pricing Actuary (Hybrid #56823)
DW Simpson Global Actuarial & Analytics Recruitment - Cincinnati , OH
Commercial Pricing Actuary Join a growing company! A P&C insurer is seeking their next Commercial Pricing Actuary. This position is responsible for providing support to Commercial Operations in ...
LinkedIn - 5 days ago
Vice President - Life Actuary
Continental General - Austin , TX
Vice President - Life Actuary Looking to join a growing company dedicated to helping others? We offer that, plus competitive salaries, a culture of learning, and a fast-paced environment. This is a ...
LinkedIn - 7 days ago
Senior Actuary / Principal - Medicaid & Business Development
Saenger Associates - Phoenix , AZ
Saenger Associates is seeking an entrepreneurial minded Senior Actuary/Principal with deep expertise in Medicaid, actuarial theory, and affordable care act (ACA) for our client. The ideal candidate ...
LinkedIn - 7 days ago
Annuity Actuary - PR12892
Pryor Associates Executive Search - Charlotte , NC
Annuity Actuary opening in Charlotte, NC. Lead pricing, product development, and projections for Variable Annuities. Ideal candidate is FSA with 5+ years of actuarial experience, including Annuity or ...
LinkedIn - 8 days ago