Actuary Jobs in Boston, MA
About Actuary Jobs in Boston
Looking for a Actuary job in Boston? You're in the right place. This guide covers everything you need to know about working as a Actuary in Boston, MA.
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.
Boston 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 Boston
Actuary salaries in Boston are 52% above the national average, reflecting the high cost of living.
Purchasing power in Boston is comparable to the national average, with salaries appropriately scaled to local costs.
Required Skills
Actuary Job Market in Boston
Boston, MA is one of America's premier job markets for Actuary professionals. As a mid-sized metro with 676K residents, Boston balances career opportunities with quality of life. The city's strong Technology and Healthcare 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 Boston
Major employers hiring Actuarys in Boston include Fidelity, State Street, Wellington Management, Bain Capital, and Liberty Mutual. 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 Boston
Living in Boston as a Actuary means navigating a cost of living that's significantly above the national average (152% of baseline). Average rent for a 1-bedroom apartment is approximately $2,800/month (56% above the national average of $1,800). At median Actuary salary, housing is quite affordable at 18% of gross income, leaving room for savings and lifestyle spending. Suburban apartments average $2,000/month, offering significant savings with slightly longer commutes.
Commuting as a Actuary in Boston
Boston MBTA "T" subway system, commuter rail, and extensive bus network. The average commute time is 31 minutes. The T is one of America's oldest systems - some delays expected. Green Line serves many biotech companies in Cambridge.
Best neighborhoods for Actuarys in Boston: Seaport (Innovation District with fast-growing tech scene); Kendall Square (MIT area with biotech and tech giants); Back Bay (Corporate offices and professional services). Seaport is particularly popular among Actuary professionals due to proximity to major employers and urban amenities.
Tax Considerations in Massachusetts
Massachusetts 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 Boston is stable. While not experiencing rapid growth, the field maintains steady demand with consistent opportunities for qualified professionals. As a Tier 1 market, Boston typically has more openings but also more competition from experienced professionals. In-demand skills include Statistical Analysis, Risk Modeling, Financial Mathematics, Excel.
Relocating to Boston
Boston has a very high cost of living. Many Actuarys negotiate relocation packages or sign-on bonuses to offset moving costs. 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 Boston, MA?
The average Actuary salary in Boston, MA is $190,000 per year. Entry-level Actuarys typically start around $116,280, while experienced professionals can earn $279,680 or more. The national average for Actuary roles is $125,000.
How many Actuary jobs are available in Boston?
Boston has a robust job market with hundreds of openings for Actuary professionals. Major employers hiring Actuarys include Fidelity, State Street, Wellington Management, Bain Capital. The Technology and Healthcare sectors drive much of the demand in this market.
Is Boston a good city for Actuarys?
Boston is an excellent choice for Actuarys. As a major metro area, it offers abundant opportunities and competitive salaries. However, be aware of the higher cost of living when evaluating offers. The city's technology industry creates strong demand for finance & accounting professionals.
What skills are most in-demand for Actuarys in Boston?
Top skills for Actuarys in Boston 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 Boston?
Boston's cost of living is significantly above the national average (152% of baseline). Average rent for a 1-bedroom apartment is approximately $2,800/month. Purchasing power in Boston is comparable to the national average, with salaries appropriately scaled to local costs.
How is the commute for Actuarys in Boston?
Boston MBTA "T" subway system, commuter rail, and extensive bus network. The average commute is 31 minutes. The T is one of America's oldest systems - some delays expected.