Actuary Jobs in Chicago, IL
About Actuary Jobs in Chicago
Looking for a Actuary job in Chicago? You're in the right place. This guide covers everything you need to know about working as a Actuary in Chicago, IL.
We'll show you what you can expect to earn. We'll also share which companies are hiring. Plus, you'll learn about the cost of living and how to get started in your job search.
Chicago has a strong job market for Actuarys. Many employers are actively looking for talent. Read on to learn how to land your next role.
Actuary Salary in Chicago
Actuary salaries in Chicago are in line with national averages, offering competitive compensation for the region.
Purchasing power in Chicago is comparable to the national average, with salaries appropriately scaled to local costs.
Required Skills
Actuary Job Market in Chicago
Chicago, IL is one of America's premier job markets for Actuary professionals. With a population of 2.7 million, the Chicago-Naperville-Elgin metro area offers diverse opportunities across multiple industries. The city's strong Finance and Technology sectors create robust demand for Actuary talent. The market for Actuary positions remains stable, with opportunities in both established companies and growing organizations.
Top Companies Hiring Actuarys in Chicago
Major employers hiring Actuarys in Chicago include CME Group, Northern Trust, Citadel, Allstate, and Discover, BMO Harris. The strong financial services presence creates consistent demand for experienced Actuary professionals, with competitive compensation packages. Many companies offer competitive benefits including comprehensive healthcare, and professional development opportunities.
Cost of Living for Actuarys in Chicago
Living in Chicago as a Actuary means navigating a cost of living that's slightly above the national average. Average rent for a 1-bedroom apartment is approximately $2,100/month. At median Actuary salary, housing is quite affordable at 19% of gross income, leaving room for savings and lifestyle spending. Suburban apartments average $1,400/month, offering significant savings with slightly longer commutes.
Commuting as a Actuary in Chicago
Chicago CTA "L" train system with 8 lines, extensive bus network. The average commute time is 35 minutes. The "L" runs 24/7 on some lines - great for varied work schedules. Living near an L station is key - commutes can double otherwise.
Best neighborhoods for Actuarys in Chicago: Downtown (Central business district with tech companies); Tech Park/Campus (Suburban office park developments). Downtown is particularly popular among Actuary professionals due to proximity to major employers and urban amenities.
Tax Considerations in Illinois
Illinois has moderate state income taxes. When evaluating offers, consider total compensation including benefits, not just base salary. Local cost of living typically has more impact on your finances than state tax differences.
Career Outlook for Actuarys
The job outlook for Actuarys in Chicago is stable. While not experiencing rapid growth, the field maintains steady demand with consistent opportunities for qualified professionals. As a Tier 1 market, Chicago typically has more openings but also more competition from experienced professionals. In-demand skills include Statistical Analysis, Risk Modeling, Financial Mathematics, Excel.
Relocating to Chicago
Winters can be harsh. Budget for winter clothing, and many employers understand weather-related delays during snow events.
Frequently Asked Questions
What is the average Actuary salary in Chicago, IL?
The average Actuary salary in Chicago, IL is $133,750 per year. Entry-level Actuarys typically start around $81,855, while experienced professionals can earn $196,880 or more. The national average for Actuary roles is $125,000.
How many Actuary jobs are available in Chicago?
Chicago has a robust job market with hundreds of openings for Actuary professionals. Major employers hiring Actuarys include CME Group, Northern Trust, Citadel, Allstate. The Finance and Technology sectors drive much of the demand in this market.
Is Chicago a good city for Actuarys?
Chicago is an excellent choice for Actuarys. As a major metro area, it offers abundant opportunities and competitive salaries. The cost of living is reasonable compared to major coastal cities. The city's finance industry creates strong demand for finance & accounting professionals.
What skills are most in-demand for Actuarys in Chicago?
Top skills for Actuarys in Chicago include Statistical Analysis, Risk Modeling, Financial Mathematics, Excel, Programming. Employers value both technical expertise and soft skills like communication and teamwork.
What is the cost of living for Actuarys in Chicago?
Chicago's cost of living is near the national average (107% of baseline). Average rent for a 1-bedroom apartment is approximately $2,100/month. Purchasing power in Chicago is comparable to the national average, with salaries appropriately scaled to local costs.
How is the commute for Actuarys in Chicago?
Chicago CTA "L" train system with 8 lines, extensive bus network. The average commute is 35 minutes. The "L" runs 24/7 on some lines - great for varied work schedules.