Actuary Salary in Michigan
Based on 570+ workers in Michigan
Median Annual Salary (MI)
$100,640
$48.38/hr
vs National Average
$124,781
-19.3% vs national median
Salary Range (10th–90th)
$65K – $170K
570 employed in Michigan
Actuaries in Michigan earn a median salary of $100,640 per year, with approximately 570 professionals working in the state. While this represents a solid income for the region, actuary salary in Michigan runs about 19% below the national average, reflecting regional economic differences and cost-of-living variations compared to major financial centers.
Several factors influence actuary salary in Michigan, including years of experience, professional certifications, and employer size. Salaries typically range from $65,240 for entry-level positions to $170,450 for experienced actuaries at established firms. Insurance companies, consulting firms, and the specific industry sector also play significant roles in determining compensation levels for professionals in this field.
Salary Distribution — Actuary in Michigan
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $65,240 |
| 25th percentile | $78,510 |
| Median (50th percentile) | $100,640 |
| 75th percentile | $134,460 |
| 90th percentile | $170,450 |
Top-Paying Industries for Actuary (U.S.)
Which industries pay Actuarys the most — nationwide figures (industry-level data is not available by state). Actuarys in Michigan tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Other Services (except Public Administration) | $175,980 | 50 |
| Finance and Insurance | $131,450 | 20K |
| Management of Companies and Enterprises | $129,810 | 1K |
| Government (excl. schools, hospitals & USPS) | $129,650 | 850 |
| Professional, Scientific, and Technical Services | $124,130 | 4K |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Actuary in Michigan vs National
| Year | Median Salary (Michigan) |
|---|---|
| 2023 | $93,250 |
| 2024 | $105,750 |
| 2025 | $100,640 |
| 2026 (projected) | $100,640 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Michigan Median | National Median |
|---|---|---|
| 2023 | $93,250 | $112,820 |
| 2024 | $105,750 | $121,524 |
| 2025 | $100,640 | $124,781 |
| 2026 (projected) | $100,640 | $124,781 |
Actuary Salary by Experience Level in Michigan
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $78,510 |
| Mid-level | 3-5 yrs | $100,640 |
| Senior | 6-9 yrs | $134,460 |
| Staff / Lead | 10+ yrs | $170,450 |
Actuary Salary in Other States
Related Actuary Salaries in Michigan
How other high-demand occupations in Michigan compare to Actuary ($100,640 median).
| Occupation | Median Salary | vs Actuary | Hourly |
|---|---|---|---|
| Financial Manager in MI | $139,370 | +38.5% | $67.00/hr |
| Economist in MI | $106,350 | +5.7% | $51.13/hr |
| Budget Analyst in MI | $96,430 | -4.2% | $46.36/hr |
| Financial Analyst in MI | $95,420 | -5.2% | $45.88/hr |
| Accountant in MI | $78,820 | -21.7% | $37.89/hr |
| Personal Financial Advisor in MI | $77,930 | -22.6% | $37.47/hr |
| Compliance Officer in MI | $77,390 | -23.1% | $37.21/hr |
| Tax Examiner in MI | $75,040 | -25.4% | $36.08/hr |
| Credit Analyst in MI | $74,640 | -25.8% | $35.88/hr |
| Loan Officer in MI | $74,470 | -26.0% | $35.80/hr |
| Securities Sales Agent in MI | $73,480 | -27.0% | $35.33/hr |
| Financial Examiner in MI | $71,050 | -29.4% | $34.16/hr |
Frequently Asked Questions
How much do actuaries make in Michigan?
- The median salary for actuaries in Michigan is $100,640 per year, or $48 per hour. This is approximately 19.3% below the national average for actuaries.
What is the salary range for actuaries in Michigan?
- Actuaries in Michigan earn between $65,240 and $170,450 annually, depending on experience, employer, and specialization. This wide range reflects the variation in compensation across different companies and career stages.
Is the actuary salary in Michigan competitive?
- Michigan's actuary median salary of $100,640 is below the national average, placing it about 19.3% lower than what actuaries earn nationwide. However, with approximately 570 actuaries employed in the state, there are still solid job opportunities available.
What do entry-level actuaries earn in Michigan?
- Entry-level actuaries in Michigan typically start at the lower end of the salary range, around $65,240 annually. With experience and credentials, actuaries can advance to the median salary of $100,640 or higher.