A load measuring arrangement for a collet assembly is provided. The load measuring arrangement includes a housing having a pocket which includes a first portion and a second portion. The load measuring arrangement further includes a first clamp member having a first groove and a second clamp member having a second groove. The first clamp member and the second clamp member are disposed in the first portion such that the first groove and the second groove together forms a receiving portion. A load measurement device is disposed next to the second clamp member in the second portion such that a load-responsive portion of the load measurement device is configured to be in contact with the second clamp member. The second clamp member is pushed outwards against the load-responsive portion when the receiving portion receives the collet assembly.