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Actuarial Science

Colleges offering this major Rankings Trends

What you'll do in college

Actuarial science majors learn to measure and price risk—the math behind insurance, pensions, and finance. The major blends probability and statistics, financial mathematics, and economics with insurance and risk-management coursework, teaching you to model uncertain future events and put a price on them. Expect heavy quantitative work in calculus, probability, regression, and interest theory, and most programs are built around passing the early professional actuarial exams.

Many students sit for one or more Society of Actuaries or Casualty Actuarial Society exams before graduating, and internships at insurers, consulting firms, and pension offices are a standard—and résumé-defining—part of the path.

What you'll do after college

Graduates become actuaries, risk analysts, and underwriters at insurance companies, consulting firms, pension funds, banks, and government agencies, with many also moving into data science and quantitative finance. Advancement is tied to a series of rigorous professional exams—each one passed typically brings a raise and more responsibility.

The field is famously stable and well-paid, with strong demand and a reputation for low stress relative to other finance careers. The work is analytical and behind-the-scenes—if you like turning uncertainty into numbers other people can act on, it fits.

Famous graduates

  • Robert J. Myers — Longest-serving Chief Actuary of U.S. Social Security and a co-architect of the program; M.S. in Actuarial Science from the University of Iowa
  • Franz Kafka — Literary giant who by day assessed workplace risk and claims at the Workers' Accident Insurance Institute in Prague; doctorate in law

Selectivity vs. earnings

By acceptance rate

$85,481
579
100–72%
$94,235
1,049
72–41%
$96,356
530
41–0%
Acceptance rate · bar = degree-weighted earnings

By SAT median

$86,685
461
400–1210
$94,714
929
1210–1350
$100,393
457
1360–1600
Combined SAT composite median (submitters + non-submitters) · bar = degree-weighted earnings

Earnings vs. selectivity rank

$71,198p10 $99,546p90 STEM Non-Research Business Liberal Arts Public University Religious University Private University Public University 1–15 Milwaukee School of Engineering · $89,165 Bentley University · $97,269 Northwood University · $76,749 DePauw University · $95,171 Albion College · $75,890 Dordt University · $95,878 Gallaudet University · $75,848 Carroll University · $74,445 Elizabethtown College · $87,231 North Central College · $102,393 Calvin University · $74,496 Central College · $82,190 Illinois College · $83,389 Lycoming College · $97,481 Roanoke College · $85,769 Wartburg College · $81,189 University of California, Santa Barbara · $89,131 University of Wisconsin - Eau Claire · $83,647 University of South Florida · $70,664 CUNY Bernard M Baruch College · $88,687 Morgan State University · $64,985 University of Central Florida · $79,331 Ohio State University · $103,749 CUNY Queens College · $83,730 Northern Illinois University · $68,122 University of Connecticut · $99,798 University of South Carolina · $87,485 Pennsylvania State University · $73,456 Georgia State University · $85,824 Illinois State University · $88,356 Arkansas State University · $62,922 University of Central Missouri · $76,337 Appalachian State University · $86,276 University of Minnesota - Twin Cities · $100,588 Ball State University · $78,473 Central Michigan University · $86,814 Eastern Michigan University · $74,486 University at Albany · $75,519 University of Michigan - Dearborn · $84,908 University of Louisiana at Monroe · $74,236 Indiana University - South Bend · $85,532 Minnesota State University Moorhead · $71,198 Missouri State University - Springfield · $83,217 Oakland University · $84,062 Ohio University · $80,406 Temple University · $82,802 University of Central Arkansas · $75,139 University of Delaware · $98,705 University of Houston - Downtown · $98,504 University of Maine at Farmington · $76,749 University of Texas at Dallas · $84,664 University of Michigan - Flint · $68,713 University of Mississippi · $91,923 Eastern Kentucky University · $73,808 Middle Tennessee State University · $69,253 University of Louisiana at Lafayette · $64,094 University of Missouri - Saint Louis · $94,336 University of Iowa · $100,451 State University of New York at Oswego · $78,628 University of Nebraska, Lincoln · $120,412 University of Central Oklahoma · $77,690 University of North Texas · $95,553 Purdue University Fort Wayne · $81,105 Michigan State University · $94,209 Central Washington University · $99,260 Ferris State University · $81,860 Indiana State University · $71,834 Iowa State University · $78,622 University of Akron · $72,888 University of Cincinnati · $84,115 University of California, Riverside · $83,586 Arizona State University · $99,170 University of Wisconsin - Milwaukee · $89,135 University of Texas at San Antonio · $97,253 Texas Christian University · $99,546 Baylor University · $92,654 Ohio Dominican University · $75,946 High Point University · $86,224 Olivet Nazarene University · $75,473 Bellarmine University · $86,555 Messiah University · $78,920 Arcadia University · $70,892 Ashland University · $80,390 California Baptist University · $82,707 Brigham Young University · $118,275 Concordia University Wisconsin · $75,387 Elmhurst University · $80,116 Assumption University · $77,413 Niagara University · $85,451 Le Moyne College · $69,429 Baldwin Wallace University · $82,829 Lebanon Valley College · $103,290 University of Indianapolis · $77,318 Walsh University · $98,378 Grace College and Theological Seminary · $75,097 Otterbein University · $80,681 Siena College · $82,753 Gannon University · $66,480 Xavier University · $83,401 St. John's University - New York · $90,847 DePaul University · $72,279 University of Olivet · $69,813 Valparaiso University · $87,825 University of Saint Francis - Fort Wayne · $79,152 University of Tampa · $83,883 Drake University · $125,814 Bradley University · $80,743 Aurora University · $77,088 Robert Morris University · $74,810 Marietta College · $81,282 Trine University · $75,821 University of the Pacific · $93,993 Butler University · $82,221 Rider University · $75,925 Western New England University · $80,502 Maryville University of Saint Louis · $86,566 Roosevelt University · $66,174 University of Georgia · $92,363 Purdue University · $101,576 University of Illinois Urbana-Champaign · $103,032 University of Wisconsin - Madison · $118,741 Florida State University · $98,140 STEM Non-Research: mean $89,165 Business: mean $87,009 Liberal Arts: mean $85,490 Public University: mean $83,731 Religious University: mean $82,851 Private University: mean $83,448 Public University 1–15: mean $102,770 All colleges: p10 $71,198 All colleges: p90 $99,546
Each dot = a college · y = degree-weighted earnings

Majors in this category

Major Colleges Degrees ▼ Male/Female Intl Earnings Employment
Actuarial Science 146 2,179 64% / 36% 9% $83,204 97%
Actuarial Science 114 1,095 65% / 35% 15% $85,683 97%
Risk Management and Insurance 33 790 62% / 38% 3% $82,475 97%
Risk Management 6 162 59% / 41% 5% $70,281 97%
Insurance 7 102 71% / 29% 7% $82,856 94%
Insurance and Risk Management 2 14 64% / 36% 7% $91,825 100%
Actuarial and Mathematical Sciences 1 9 56% / 44% 22% $75,519
Actuarial Mathematics 1 4 50% / 50% 0% $72,888 100%
Insurance Risk Management 1 3 67% / 33% 0% $76,749