Salary data is based on the Duluth, MN-WI metropolitan area and applied to Duluth using local cost-of-living adjustments.

Actuaries Salaries in Duluth, MN

Average Base Pay

$121,469/yr

1% above national average

Monthly

$10,122

Hourly

$58

Cost Index

Actuaries in Duluth, MN earn an average of $121,469 per year, with most salaries falling between $97,175 and $145,763 depending on experience, employer, and specialization. At 1% above the national average, Duluth ranks among the higher-paying markets for this role, in part reflecting a local cost of living index of 83. For professionals evaluating a move or negotiating an offer, the headline salary is only part of the picture—what matters most is how far that income actually goes once taxes, rent, and daily expenses are factored in. The sections below break that down in full for Duluth.

Salary Range

The chart below shows the full compensation spectrum for this role, from entry-level to senior positions. The highlighted center bars represent the 25th–75th percentile band where most professionals are paid.

$91K
Low

$121K
Median

$152K
High

25th percentile: $103K75th percentile: $140K

About Actuaries

Actuaries use mathematics, statistics, and financial theory to measure and manage risk in insurance, pension plans, and other financial systems. They analyze the likelihood of future events—accidents, illness, natural disasters, death—and quantify their financial consequences to help organizations set prices, maintain reserves, and design products that are financially sustainable. In property and casualty insurance, actuaries price auto, homeowners, and commercial policies by analyzing claims data and modeling loss frequency and severity. In life insurance and retirement planning, they develop mortality tables, price life and annuity products, and perform pension valuations. Health actuaries model medical costs and design benefit structures for health insurance plans. Actuaries are also increasingly employed in enterprise risk management, financial services regulation, and data science. The actuarial credential is earned through a rigorous series of professional examinations administered by the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS), a process that takes five to ten years to complete while working full-time. Actuaries are among the most technically sophisticated professionals in financial services.

What Actuaries Do

Develop pricing models for insurance products based on claims experience and risk factors
Calculate reserves to ensure organizations have sufficient funds to pay future claims
Conduct experience studies to evaluate how actual outcomes compare to assumptions
Perform pension and annuity valuations for defined benefit retirement plans
Build statistical models to forecast claims frequency and severity
Prepare regulatory filings and actuarial opinions for state departments of insurance
Advise management on pricing strategy and product profitability
Monitor emerging risks and update models to reflect new information

Key Skills & Qualifications

Advanced statistics and probability theory
Actuarial modeling software such as ResQ, Emblem, or Milliman tools
Excel and VBA for actuarial calculations
Proficiency in R, Python, or SAS for statistical analysis
Financial mathematics including time value of money and interest theory
Knowledge of insurance regulations and GAAP/STAT accounting
SOA or CAS examination progress
Communication skills for presenting technical findings to non-actuarial audiences

Career Path

Actuarial Analyst (entry level)
Associate Actuary (ACAS/ASA)
Fellow Actuary (FCAS/FSA)
Consulting Actuary / Chief Actuary
VP of Actuarial / CRO

Actuaries Market in Duluth, MN

Salary Competitiveness

Duluth salaries for Actuaries track closely with the national median, diverging by less than 4%. This alignment suggests a competitive but balanced local market—employers are broadly in step with national pay scales, which can make benchmark comparisons more reliable when negotiating.

Cost of Living Impact

Duluth's cost of living runs below the national average, which works in favor of this salary. Essential monthly expenses account for approximately 30% of take-home pay—a ratio that leaves meaningful room for savings, debt reduction, and discretionary spending compared with higher-cost metros.

Effective Purchasing Power

After adjusting for local taxes and cost of living, a Actuaries earning $121,469 in Duluth reaches a strong purchasing-power position. The effective standard of living this income supports is materially higher than the gross number alone implies—a useful data point for professionals comparing offers across metro areas.

vs. National Avg

+1%

Cost Pressure

30%

Purchasing Power

Strong

Take-Home Pay Calculator

Enter any gross salary to see how federal and state taxes affect your actual take-home pay, broken down by year, month, and week. Results use an estimated effective tax rate of 27% based on this location and income level.

Annual Salary

Take-home (73%)Taxes (27%)

Annual Net

$88,672

Monthly

$7,389

Weekly

$1,705

Eff. Tax Rate

27%

A gross salary of $121,469 for a Actuaries in Duluth translates to roughly $7,389 in monthly take-home pay after estimated federal and state taxes. Set against monthly living costs of $2,217—covering housing, food, transportation, utilities, and healthcare—that leaves approximately $5,172 per month in disposable income. That margin, not the gross number, is what determines whether you can comfortably cover rent, build savings, and afford discretionary spending in Duluth's current market.

How far does this salary go in Duluth?

Cost of Living in Duluth

Estimated monthly expenses for a single person in Duluth, benchmarked against US regional price indices for housing, food, transportation, utilities, and healthcare.

Cost Index

Below Avg — US average is 100. Based on a single person (1-bed apartment).

🏠Housing / Rent$1,180/mo

🍔Food & Groceries$445/mo

🚗Transportation$130/mo

💡Utilities$180/mo

🏥Healthcare$282/mo

Monthly$2,217

Annual$26,604

Disposable Income$5,172

Financial Reality Check

This section compares estimated monthly take-home pay against typical living costs in Duluth to show your real disposable income—the amount remaining after essential bills are paid each month.

Monthly Take-Home

$7,389

Living Costs

$2,217

Disposable

$5,172

Cost Index

Lifestyle

Comfortable

With a monthly take-home of $7,389, your estimated living costs in Duluth are $2,217 ($26,604/yr). This leaves $5,172 per month in disposable income, indicating a comfortable standard of living. Duluth's cost of living is 17% below the national average.

Overall, a Actuaries earning $121,469 in Duluth falls into a comfortable lifestyle tier and has meaningful room to save, invest, and absorb unexpected expenses without financial stress. With a cost index of 83, Duluth is 17% more affordable than the national average, which extends your purchasing power. Regardless of tier, prioritizing retirement contributions, an emergency fund of three to six months' expenses, and incremental debt reduction will yield the greatest long-term financial stability—especially as living costs in Duluth continue to evolve.