Actuary Jobs in Minneapolis, MN
About Actuary Jobs in Minneapolis
Looking for a Actuary job in Minneapolis? You're in the right place. This guide covers everything you need to know about working as a Actuary in Minneapolis, MN.
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.
Minneapolis 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 Minneapolis
Actuary salaries in Minneapolis are in line with national averages, offering competitive compensation for the region.
Purchasing power in Minneapolis is comparable to the national average, with salaries appropriately scaled to local costs.
Required Skills
Actuary Job Market in Minneapolis
Minneapolis, MN is a major regional employment hub for Actuary professionals. Though smaller than coastal metros, Minneapolis offers focused opportunities and often better work-life balance. The city's strong Healthcare and Finance 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 Minneapolis
Major employers hiring Actuarys in Minneapolis include US Bancorp, Ameriprise, Piper Sandler, RBC Wealth Management. 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 Minneapolis
Living in Minneapolis 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 $1,600/month. At median Actuary salary, housing is quite affordable at 15% of gross income, leaving room for savings and lifestyle spending. Suburban apartments average $1,200/month, offering significant savings with slightly longer commutes.
Commuting as a Actuary in Minneapolis
Minneapolis Metro light rail, bus system, and excellent bike infrastructure. The average commute time is 24 minutes. Blue Line connects downtown to MSP Airport and Mall of America. Excellent skyway system for winter commuting downtown.
Best neighborhoods for Actuarys in Minneapolis: 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 Minnesota
Minnesota has relatively high state income taxes. A Actuary earning $131,250 might pay approximately $10,500 in state income tax. However, Minnesota's strong job market and quality of life often offset the higher tax burden.
Career Outlook for Actuarys
The job outlook for Actuarys in Minneapolis is stable. While not experiencing rapid growth, the field maintains steady demand with consistent opportunities for qualified professionals. Minneapolis's growing economy creates new positions regularly, often with less competition than coastal tech hubs. In-demand skills include Statistical Analysis, Risk Modeling, Financial Mathematics, Excel.
Relocating to Minneapolis
Minnesota has higher state income taxes. Factor this into salary negotiations, as gross salary comparisons can be misleading. 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 Minneapolis, MN?
The average Actuary salary in Minneapolis, MN is $131,250 per year. Entry-level Actuarys typically start around $80,325, while experienced professionals can earn $193,200 or more. The national average for Actuary roles is $125,000.
How many Actuary jobs are available in Minneapolis?
Minneapolis has a strong job market with regular openings for Actuary professionals. Major employers hiring Actuarys include US Bancorp, Ameriprise, Piper Sandler, RBC Wealth Management. The Healthcare and Finance sectors drive much of the demand in this market.
Is Minneapolis a good city for Actuarys?
Minneapolis 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 healthcare industry creates strong demand for finance & accounting professionals.
What skills are most in-demand for Actuarys in Minneapolis?
Top skills for Actuarys in Minneapolis 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 Minneapolis?
Minneapolis's cost of living is near the national average (105% of baseline). Average rent for a 1-bedroom apartment is approximately $1,600/month. Purchasing power in Minneapolis is comparable to the national average, with salaries appropriately scaled to local costs.
How is the commute for Actuarys in Minneapolis?
Minneapolis Metro light rail, bus system, and excellent bike infrastructure. The average commute is 24 minutes. Blue Line connects downtown to MSP Airport and Mall of America.
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