Actuary.
Chicago.
$131,000
median salary, 7% above the national average
$98,000 to $173,000. Updated for 2026.
The numbers.
Everything you need to negotiate with confidence.
Chicago is 7% more expensive than the national average. For Actuarys, that shakes out to a median of $131,000, with the full range spanning $98,000 to $173,000. Exam progress is the single most predictive salary factor for actuaries. Know the range before you walk in.
Salary range
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How Chicago compares
Chicago, IL
$131,000
Cost of living: 7% above average
National Average
$122,000
Chicago is $9,000 above
What you should know
The Actuary landscape in Chicago is not what most salary sites will tell you. Chicago's economy is anchored by finance, manufacturing, and a rapidly expanding tech sector. The city has become a major hub for fintech, enterprise SaaS, and e-commerce. With lower living costs than coastal cities and a deep talent pool from top universities, Chicago offers strong salary to cost of living ratios for professionals across industries. Exam progress is the single most predictive salary factor for actuaries. Each passed SOA or CAS exam adds approximately $5,000 to $15,000 in base salary. Fully credentialed fellows earn 40 to 60% more than entry-level associates. Consulting actuaries typically earn more than insurance company actuaries at equivalent experience levels.
Entry-level actuarial analysts with zero to two exams earn $65,000 to $85,000. Associates (ASA) earn $90,000 to $120,000. Fellows (FSA/FCAS) reach $130,000 to $180,000. Chief actuaries and actuarial directors earn $175,000 to $280,000. Consulting principals can exceed $350,000. In Chicago, cost of living sits near the national average, so the numbers you see are roughly what you keep.
Base salary is not the full picture. Exam bonuses of $2,000 to $5,000 per passed exam are standard, plus paid study time (typically 100 to 200 hours). Annual bonuses of 10 to 20% are common. Consulting firms offer higher variable pay. Many employers cover exam fees, study materials, and raise base salary with each credential milestone. And on the tax side: illinois has a flat 4.95% state income tax. Chicago does not levy a separate city income tax, making the overall burden moderate compared to coastal metros. When someone quotes you $131,000, ask what the total package looks like. The gap between base and total comp is where real money hides.
On negotiation: Reference the Bay Area or NYC salary band for your role, then negotiate a modest discount. Chicago employers routinely offer 85 to 90% of coastal pay. The range for Actuarys in Chicago runs from $98,000 to $173,000. That is not a narrow window. Where you land inside it depends almost entirely on whether you negotiate and how well you prepare.
Top industries in Chicago
Negotiating in Chicago
Reference the Bay Area or NYC salary band for your role, then negotiate a modest discount. Chicago employers routinely offer 85 to 90% of coastal pay.