Best Colleges for Actuarial Science: 10 Top-Ranked Picks

Students with a robust math background in the actuarial science degree are well-prepared for professional exams by the Society of Actuaries or the Casualty Actuarial Society. The program includes STAT 451, a course introducing actuarial science with benefits extending to personal finance. While many students often double-concentrate in finance, it is not obligatory, and additional skills in computer science, statistics, finance, and languages can be advantageous but are not essential for securing employment post-graduation.

The university actively facilitates students in obtaining internships with leading companies in the field, offering valuable practical experience that enhances resumes and equips students for the competitive job market.

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For a more interdisciplinary approach, the university provides an Honors Degree Program and a Bachelor of Science and Arts program, allowing students to study actuarial science and mathematics with studies in any of the five schools in the College of Fine Arts. Additionally, the Bachelor of Science in Mathematics and Economics is a flexible program that enables students to delve into both fields of study.

To declare a concentration in this program, actuarial science students need to complete a concentration declaration form on Stern Life. The coursework comprises 31 credits, including essential subjects such as Probability Theory, Mathematics of Investment, Corporate Finance, and Calculus series, along with Linear Algebra and two Advanced Electives.

Students can choose from a list of approved advanced electives, such as Applied Stochastic Processes for Financial Models, Statistical Inference and Regression Analysis, Forecasting of Time Series Data, Introduction to Stochastic Processes, and Life Contingencies. While only two electives are required, students are encouraged to take additional courses from the list to better prepare for actuarial exams.

The actuarial science degree program integrates coursework in mathematics, probability, statistics, risk management, economics, and finance. Upon acceptance into the certificate program, students can join the Insurance Society and Gamma Iota Sigma, gaining access to benefits like scholarships, career events, and exam reimbursements.

Eligibility for the actuarial science programs requires a minimum overall GPA of 2.6 and a minimum grade of C in MATH 2250 and MATH 2260 (or equivalent courses).

Prerequisites include MATH 2250 (Calculus I) and MATH 2260 (Calculus II), or their equivalents. Students must complete a minimum of 21 credit hours, maintaining a minimum grade of C (2.00) in core courses and two-course sequences.

Unique to this college course is a specialization in outdoor recreation and education. Students have the opportunity to explore how kinesiology principles apply to outdoor activities, adventure sports, and experiential learning, fostering a holistic perspective on movement.

The program boasts a rich history, having established itself as a center of excellence in actuarial education for over 6 decades. As one of only 15 programs nationwide offering actuarial education from undergraduate to PhD levels, the University of Illinois Urbana-Champaign provides a comprehensive range of academic opportunities for aspiring actuarial science students.

Those seeking high or highest distinction should pass a minimum of three professional exams, with the highest distinction requiring a mathematics GPA of at least 3.75. Consideration may be given to finance courses and additional professional exams in close decisions.

Moreover, the FSU department provides a Financial Mathematics Master’s Program in this field. This graduate program explores specialized courses that integrate theory with practical applications. The coursework involves readings, problem sets, and presentations, mirroring the rigor of mathematics courses.

The Student Activities Coordinator, alongside faculty advisement, provides guidance and assistance to students. In addition to maintaining contact with employers, she keeps students informed about current opportunities for actuarial science careers through appointments and email.

Beyond exam readiness, the program encourages a mindset of continuous learning and leadership. Students are motivated to become independent, life-long learners, ensuring they stay abreast of industry developments. The program's commitment to fostering leadership extends beyond professional realms into personal lives.

This commitment to excellence was acknowledged when the program received the prestigious 2018 Casualty Actuarial Society (CAS) University Award. Being among the outstanding actuarial science colleges, this award recognized its efforts in preparing students for successful careers within the property and casualty (P&C) industry.

Designed to equip students for success, the degree in actuarial science focuses on preparing them for up to five exams, providing a competitive edge in the job market. The program's effectiveness is evident in the improving exam passing rates, with over 80 percent of graduating seniors passing at least one exam and about 75 percent passing two or more exams in recent years. The curriculum aims to provide a robust foundation in mathematics, statistics, and relevant concepts within actuarial science and business. It also aims to equip students to tackle national actuarial examinations administered by the Society of Actuaries and the Casualty Actuarial Society.

Many students also opt for a business management minor, and some achieve ‘honors in actuarial science’ by meeting additional requirements. The program boasts an impressive track record, with nearly 100% of graduates either employed or pursuing further education within six months of graduation.

To further support students, Purdue's Actuarial Science Program offers a scholarship program covering the registration cost for actuarial exams. Candidates with a strong background in math and statistics from Purdue are well-positioned for success in various roles in business and government.

Alternatively, MSU offers a specialization in Actuarial Science for students enrolled in any bachelor’s degree program. Administered by the Department of Mathematics, this specialization complements various major fields and prepares students for roles in insurance, finance, government, and business where assessing financial consequences of risk is essential.