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Actuaries Salary Information in Michigan

The average annual and hourly salaries for actuaries in the state of Michigan are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of actuaries amongst Michigan areas is shown in Table 3. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 [1].

Table 1 & 2. Annual & Hourly Salary of Actuaries in Michigan

Percentile BracketAverage Annual Salary
10th Percentile Wage
$54,050
25th Percentile Wage
$61,670
50th Percentile Wage
$77,300
75th Percentile Wage
$112,500
90th Percentile Wage
$160,270

Table 1 shows the average annual salary for actuaries in Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $160,270. The median (50th percentile) annual salary is $77,300. The average annual salary for the bottom 10 percent is $54,050.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of actuaries from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$77,300
-8.27% 1.09%
2016
$83,690
-2.65% -
2015
$85,910
-7.05% -
2014
$91,970
5.76% -
2013
$86,670
11.78% -
2012
$76,460
- -

Table 3. Median Annual Salary of Actuaries in Michigan Cities

Table 3 shows the median annual salary of actuaries in some Michigan cities and metropolitan areas. We note that the median annual salary of actuaries in state of Michigan ranges from $62,980 to $107,620. The highest paying area for actuaries in Michigan is Warren-Troy-Farmington Hills with a median annual salary of $107,620. The second highest paying city/area in Michigan State is Detroit-Warren-Livonia (mean annual salary $95,940). The lowest paying area is Lansing-East Lansing with a median annual salary of $62,980.

Cities/Areas Median Annual Salary
Warren-Troy-Farmington Hills
$107,620
Detroit-Warren-Livonia
$95,940
Detroit-Livonia-Dearborn
$82,080
Grand Rapids-Wyoming
$76,730
Lansing-East Lansing
$62,980




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