Actuaries work mainly in the insurance industry however, there are positions in private corporations, banks, labor unions, colleges and universities, and with government. An actuary evaluates financial consequences of future events, such as natural disasters, with an emphasis on ensuring cost reduction and damage control when faced with unfavorable financial outcomes. Students must complete internships and pass more than 15 hours of preliminary exams proctored by the Casualty Actuarial Society (CAS) or the Society of Actuaries (SOA) to gain entry-level employment. (Actuarial employers usually require that individuals have passed at least two of the exams.) Insurance, risk management, calculus, derivative securities, simulation, and probability are the exam topics.
A bachelor's degree is the typical degree choice for this career; most students do not pursue graduate studies. Students will learn how to evaluate the likelihood of future events by using numbers, designing creative ways to reduce the likelihood of undesirable events, and decreasing the impact of undesirable events that do occur. Coursework will be in finance, micro and macroeconomics, computer science, technical writing, political science, calculus, and statistics. The median annual wage for actuarial scientists in May 2010 was $87,650.
Click Here to See the Best Colleges in the USArizona State University Campus Immersion offers 3 Actuarial Science degree programs. It's a very large, public, four-year university in a midsize city. In 2022, 16 Actuarial Science students graduated with students earning 12 Bachelor's degrees, 3 Master's degrees, and 1 Certificate.
California Baptist University offers 1 Actuarial Science degree programs. It's a large, private not-for-profit, four-year university in a large city.
University of California-Berkeley offers 1 Actuarial Science degree programs. It's a very large, public, four-year university in a midsize city.
University of California-Los Angeles offers 1 Actuarial Science degree programs. It's a very large, public, four-year university in a large city. In 2022, 43 Actuarial Science students graduated with students earning 43 Master's degrees.
University of California-Santa Barbara offers 2 Actuarial Science degree programs. It's a very large, public, four-year university in a midsize suburb. In 2022, 60 Actuarial Science students graduated with students earning 47 Bachelor's degrees, and 13 Master's degrees.
University of the Pacific offers 2 Actuarial Science degree programs. It's a medium sized, private not-for-profit, four-year university in a large city. In 2022, 2 Actuarial Science students graduated with students earning 2 Bachelor's degrees.
Vanguard University of Southern California offers 1 Actuarial Science degree programs. It's a small, private not-for-profit, four-year university in a midsize city.
University of Connecticut offers 3 Actuarial Science degree programs. It's a very large, public, four-year university in a large suburb. In 2022, 73 Actuarial Science students graduated with students earning 73 Bachelor's degrees.
University of Delaware offers 1 Actuarial Science degree programs. It's a very large, public, four-year university in a large suburb. In 2022, 21 Actuarial Science students graduated with students earning 21 Bachelor's degrees.
University of Central Florida offers 1 Actuarial Science degree programs. It's a very large, public, four-year university in a large suburb. In 2022, 11 Actuarial Science students graduated with students earning 11 Bachelor's degrees.
School | Average Tuition | Student Teacher Ratio | Enrolled Students | |
---|---|---|---|---|
Roosevelt University Chicago, IL | 22 : 1 | 3,725 | ||
University of Wisconsin-Madison Madison, WI | 21 : 1 | 48,956 | ||
Adrian College Adrian, MI | 24 : 1 | 1,821 | ||
Hartwick College Oneonta, NY | 11 : 1 | 1,103 | ||
University of Central Florida Orlando, FL | 45 : 1 | 68,346 |