Actuary Salary in Towson, MD
How much does a actuary make in Towson? Explore median, entry-level, and senior salaries adjusted for Towson's cost of living.
Salary Breakdown by Experience Level
See how actuary salaries break down across different pay periods in Towson.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $67,574 | $112,623 | $152,041 |
| Monthly | $5,631 | $9,385 | $12,670 |
| Biweekly | $2,599 | $4,332 | $5,848 |
| Weekly | $1,300 | $2,166 | $2,924 |
| Hourly | $32 | $54 | $73 |
Towson vs National Average
How Towson's actuary salaries compare to national figures.
Cost of Living in Towson
About Actuary
Overview
Analyze insurance and financial risks using statistical and mathematical methods.
Education
Bachelor's degree in Actuarial Science, Mathematics, or related field
Key Skills
Growth Rate
Expected job growth: +18% over the next decade
Compare Cities: Actuary Salary
See Actuary salaries in other top cities.
Financial Tools to Explore
Use these Pulsafi calculators to understand your finances based on a actuary salary in Towson.
Salary Breakdown Calculator
See exactly how your salary breaks down into taxes and take-home pay.
Cost of Living Calculator
Understand your expenses and purchasing power in Towson.
Budget Calculator
Create a personalized budget based on your income and expenses.
Rent vs Buy Calculator
Compare the true costs of renting versus buying in Towson.
Actuary Salary in Towson, MD — Complete Guide
Median Salary Overview
The median salary for a actuary in Towson, MD is $112,623 per year, adjusted for the local cost of living index of 115. This figure reflects typical earnings for experienced professionals in this role, considering Towson's unique economic conditions.
Salary Range and Experience Levels
Entry-level actuary professionals in Towson can expect to earn around $67,574 annually. As professionals gain experience, salaries typically increase, with senior-level actuarys earning approximately $152,041 per year. This represents a 125% increase from entry to senior level.
Cost of Living Adjustment
Towson's cost of living index of 115 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Towson are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $87,440, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a actuary's salary in Towson typically goes toward housing. With a 1-bedroom apartment averaging $1,400 per month, housing represents about 14.9% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Actuarys are in growing demand across the United States, with an expected job growth of 18% over the next decade. In Towson, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.