2026 Actuary Salary in Sioux Falls: $70,000-$175,000 (2026)

Sioux Falls' cost of living index around 88 means nominal actuarial salaries go further than in large coastal metros. For an entry actuarial analyst earning roughly $75k, typical one‑bedroom rents in the city (often $700–$1,000/month depending on neighborhood) leave substantial discretionary income relative to the same salary in a higher‑cost market.

Median single‑family home prices are commonly 20–30% below national metro averages, so mortgage payments for a mid‑level actuary (~$105k) are more affordable — enabling faster home equity accumulation. Commute costs tend to be low: average drive times are short, gas and insurance expenses follow regional norms, and many employers provide parking.

Lifestyle affordability is strong for families: daycare, groceries, and local entertainment are cheaper than national average, so an actuary in Sioux Falls can sustain a comfortable middle‑to‑upper middle class lifestyle on locally typical salaries and often save more or allocate more to retirement and continuing professional development (exam fees, conferences) than peers in higher‑cost cities.

Salaries for actuaries in Sioux Falls are set by a mix of regional employer types and the scale of actuarial work available. Major health systems (Sanford Health, Avera Health) maintain internal analytics and risk teams that hire pricing, reserving and predictive‑modeling actuaries for health plan product work.

Regional insurers and third‑party administrators (including Wellmark regional operations and several benefits administration firms) provide steady demand for pricing, experience study and claims reserving work, but often on smaller product portfolios than national carriers; that compresses top‑end salaries compared with large financial centers. Consulting capacity in town is smaller, so high‑value advisory work sometimes flows to Minneapolis or remote specialists, limiting local top‑end salary pressure.

Regulatory activity and healthcare cost trends periodically boost hiring for short windows (e. g.

, open enrollment, regulatory reporting deadlines), creating modest cyclical demand. Overall the market supports competitive mid‑level pay, steady entry hiring (actuarial interns and ASA candidates), and selective senior roles when a local actuarial leader is needed.

Compared with Minneapolis (higher pay, colIndex ~105), Sioux Falls offers lower nominal salaries but better relative purchasing power thanks to a lower cost of living. Example: a mid‑level actuary earning $105k in Sioux Falls vs $125k in Minneapolis — the Minneapolis higher salary is partly offset by higher housing and commute costs.

Des Moines and Omaha show salaries slightly above Sioux Falls but with modestly higher COLs; moving there yields incremental salary gains but not dramatic lifestyle shifts. When to commute or relocate: commute if you can maintain remote/hybrid status with an employer in a higher‑paying city (offset travel costs and personal time); relocate if seeking faster promotion opportunities, specialized consulting work, or actuarial leadership roles more common in larger hubs.

For many actuarial professionals, a hybrid strategy works: live in Sioux Falls for affordability while taking remote roles with national firms or commuting periodically for high‑value projects.

Typical progression follows student/intern → analyst → actuarial associate/ASA → senior/lead/manager. Entry (0–2 years): expect 70–80k, focus on validating models, gaining exam credits (P/1, FM/2).

Mid (3–7 years): 95–115k is common for ASAs or early FCAs, handling pricing, reserving, and managing projects; achieving ASA substantially accelerates pay. Senior (8+ years): 130–160k+ for ACAS/FSA or senior analytics lead, depending on technical breadth and leadership.

Locally, advancement speed is influenced by exam progress, cross‑functional skills (data science, SQL/Python), and domain specialization (health plan pricing, long‑term care, group benefits). Moving into consulting or relocating to a larger market accelerates salary growth.

Employers in Sioux Falls reward exam progression and internal leadership; taking on enterprise projects (rate filings, capital modeling) speeds promotions and access to senior roles.

When negotiating in Sioux Falls, anchor to local ranges: entry $70–85k, mid $95–115k, senior $130–160k depending on scope. Highlight exam progress (passed/registered for P/1, ASA, FSA tracks), programming skills (Python/R/SQL), and product experience (health plan pricing, reserving).

If base salary flexibility is limited, negotiate targeted alternatives familiar to regional employers: guaranteed exam study time, paid exam fees, flexible/hybrid work, relocation stipend, enhanced 401(k) match, or performance‑based bonus tied to specific deliverables (rate filings, project milestones). Cultural note: employers in the Sioux Falls market value long‑term fit and community involvement; demonstrating local commitment or willingness to lead cross‑functional initiatives can improve leverage.

For senior candidates, compare total compensation including deferred/retirement benefits — many regional employers make tradeoffs between base pay and robust benefits, so quantify the value of PTO, health plan contributions and retirement match when deciding.