It’s time to crunch some numbers and check out the best states for actuaries. I was never great at math. I wanted to be, and my math teachers also would’ve preferred if I was–but I just wasn’t. I enjoyed my Texas Instrument Calculator, though, like to holster and unholster it from its case like I just finished a duel. Why is everything from Texas so inextricable from cowboys?
Anyway, I’m not great at math, but I might have a future riding fences. If you ARE great at math you might be or be planning to become an actuary. But where should you live? Well, we have the list for you. If you love math AND are interested in math-based careers then you might also be interested in 7 Highest Paying Countries for Accountants.
In looking for the best states for actuaries, we used three important points of value. One is the cost of living index for every state. If you think that the only thing you should look at in an occupation is the wages, you’re mistaken. You have to consider how much you will spend on your daily living expenses after you find out how much you will earn. The point is that no matter how much you earn in your paycheck if you end up spending a huge chunk of it on the rent, your food, and other basic needs.
The other two points are the wages and the employment rates. It is only right for us to always take note of the two when looking for the state to practice our profession, but it is also equally right for us to realize that there is more than just the pay.
The data for the cost of living rates was sourced from the Missouri Economic Research and Information Center, while the information for each state’s annual median wage and employment rate for actuaries was derived from the US Bureau Labor of Statistics.
Each state was then ranked according to cost of living, then according to employment rates, and lastly, according to annual median wage. Each ranking was averaged, where we based the rankings for the list we have here.
Read on to know more about the best states for actuaries.