The annual salary statistics of actuaries in Grand Rapids-Wyoming, Michigan is shown in Table 1. The wage information of actuaries in Grand Rapids-Wyoming is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $60,330 |
| 25th Percentile Wage | $69,750 |
| 50th Percentile Wage | $78,210 |
| 75th Percentile Wage | $99,370 |
| 90th Percentile Wage | $128,450 |
Table 1 shows the average annual salary for actuaries in Grand Rapids-Wyoming, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $128,450. The median (50th percentile) annual salary is $78,210. The average annual salary for the bottom 10 percent earners is $60,330.
The table and chart below show the trend of the median salary of actuaries from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $78,210 | 1.80% | 13.66% |
| 2021 | $76,800 | -1.09% | - |
| 2020 | $77,640 | -19.93% | - |
| 2019 | $93,110 | 15.64% | - |
| 2018 | $78,550 | 2.32% | - |
| 2017 | $76,730 | 2.38% | - |
| 2016 | $74,900 | -16.41% | - |
| 2015 | $87,190 | 3.18% | - |
| 2014 | $84,420 | 10.15% | - |
| 2013 | $75,850 | 10.97% | - |
| 2012 | $67,530 | - | - |
From Table 3 we note that with a median annual salary of $78,210, Grand Rapids-Wyoming is the lowest paying city for actuaries in state of Michigan, following city of Warren-Troy-Farmington Hills (median annual salary of $107,620). Also we note that in comparison, the annual salary of actuaries in Grand Rapids-Wyoming is about 27.3 percent (27.3%) lower than that of the highest paying city Warren-Troy-Farmington Hills.
| Cities/Areas | Median Annual Salary |
|---|---|
| Warren-Troy-Farmington Hills | |
| Detroit-Warren-Livonia | |
| Lansing-East Lansing | |
| Detroit-Livonia-Dearborn | |
| Grand Rapids-Wyoming |