BA Actuarial Science: A Degree for a Brighter Future

BA Actuarial Science is a degree that can open doors to a wide range of career opportunities.

Actuaries are in high demand globally, with the International Actuarial Association predicting a shortage of 1.5 million actuaries worldwide by 2025.

Studying Actuarial Science can also lead to a high salary, with actuaries in the United States earning a median salary of $127,000 per year.

This degree can also provide a sense of job security, as actuaries are essential to the insurance and financial industries.

Take a look at this: Online Degree in Actuarial Science

As an Actuarial Science major, you'll have the opportunity to develop a comprehensive understanding of assessing and managing financial problems.

You'll learn to use the core principles of probability, statistics, and financial mathematics to analyze the economic costs of risk and uncertainty.

The program at UMass Lowell prepares students to pass the actuarial preliminary exams, which is a crucial step in becoming a professional actuary.

To satisfy the educational requirements of professional actuarial societies, you'll complete specific courses as part of your curriculum.

For more insights, see: Financial Actuarial Mathematics

These courses will give you a solid foundation in actuarial science and prepare you for a career in insurance, finance, government, or other industries.

Some of the benefits of the Actuarial Studies program at UMass Lowell include exam fee reimbursements and opportunities to connect with insurance companies.

This will help you succeed in your studies and potentially even land a job in the field before you graduate.

Here are some specific ways you can prepare for a career in actuarial science:

St John's University has a strong reputation for supporting students on the property and casualty actuarial career path, earning the Casualty Actuarial Society University Recognition Program – Gold Level. This recognition is a testament to the university's commitment to preparing students for success in the field.

Students in the BA Actuarial Science program will study a range of topics, including accounting, economics, and mathematics, as well as risk and asset management. They'll also learn how to predict financial trends and understand the underlying principles.

Graduates of the program have gone on to work at top companies, including John Hancock Financial, Lincoln Laboratories, MITRE Corporation, and NASA, giving them valuable experience and connections in the industry.

Broaden your view: University of Iowa Actuarial Science

Internships are a fantastic way to connect what you learn in the classroom to the real world. Our students have completed internships at diverse companies, including John Hancock Financial, Lincoln Laboratories, MITRE Corporation, and NASA.

These internships provide valuable hands-on experience and help you build a network of professional contacts in the field. You'll have the opportunity to apply theoretical concepts to real-world problems and gain a deeper understanding of the industry.

Here are some of the companies where our students have completed internships:

By participating in internships, you'll be well-prepared for a successful career in Actuarial Science.

The median annual salary for actuaries was $120,000 in 2023, making it a highly lucrative career choice.

Employment of actuaries is projected to grow 23% from 2022 to 2032, much faster than the average for all occupations.

Actuaries are hired by a wide range of organizations, including insurance companies, consulting firms, financial institutions, and government agencies.

Some of the top companies that hire actuaries include Northwestern Mutual, American Family, Milliman, Willis Towers Watson, and more.

Here are some of the reasons why actuaries consistently rank in the top 10 for salary, job satisfaction, stress level, and job security:

• High salary: The median annual salary for actuaries is $120,000.

• Job satisfaction: Actuaries consistently rank high in job satisfaction due to the challenging and rewarding nature of the work.

• Stress level: Actuaries often work in high-pressure environments, but this also contributes to high job satisfaction.

• Job security: Actuaries are in high demand, making job security a significant benefit of the career.

Overall, a career as an actuary offers a unique combination of financial rewards, personal fulfillment, and job security.

Broaden your view: Actuarial Mathematics Salary

The Actuarial Science program at UMass Lowell offers a comprehensive education in assessing and managing financial problems, which you can apply to real-world problems in insurance, finance, government, and other industries.

You'll develop a thorough understanding of the core principles of probability, statistics, and financial mathematics to analyze the economic costs of risk and uncertainty.

To prepare for a career as an actuary, you'll need to complete courses that satisfy the educational requirements of professional actuarial societies, such as the Society of Actuaries and the Casualty Actuarial Society.

The program also prepares you to take the first four examinations offered by these societies, which will help you get started on your path to becoming a certified actuary.

Here are the key educational requirements you'll need to meet:

These courses will not only prepare you for the actuarial preliminary exams but also give you a solid foundation in the mathematical and functional business components necessary for a career in actuarial science.

Ashland University stands out as a top choice for Actuarial Science students. AU has been recognized by the Casualty Actuarial Society for its commitment to preparing property and casualty actuaries.

One of only six private colleges in Ohio to receive an Actuarial Program designation from the Society of Actuaries, AU offers a comprehensive education in Actuarial Science.

You'll study a range of subjects, including accounting, economics, mathematics, and risk and asset management, as well as financial trends and how to predict them.

The curriculum at AU is designed to prepare students for two professional actuarial exams, giving them a head start in their careers.

AU also offers an Undergraduate Certificate in Actuarial Science, providing students with additional specialized knowledge and skills.

By choosing Ashland University, you'll be fulfilling all three Validation by Educational Experience requirements necessary to become a fellow of the Society of Actuaries or Casualty Actuarial Society.