Degree in Actuarial Science: Unlocking Career Opportunities

A degree in Actuarial Science can open doors to a wide range of exciting and challenging career opportunities. Actuaries are in high demand, and with this degree, you'll be equipped with the skills to analyze data, manage risk, and make informed decisions.

Actuaries work in various industries, including insurance, finance, and healthcare. They use mathematical and statistical techniques to assess and manage risk, which is crucial for businesses and organizations. With a degree in Actuarial Science, you'll gain a solid understanding of these techniques and be able to apply them in real-world settings.

In the United States, actuaries are certified by the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). To become a certified actuary, you'll need to pass a series of exams that test your knowledge and skills in areas such as probability, statistics, and finance. This certification is highly valued by employers and can significantly boost your career prospects.

The Actuarial Science major is designed to follow the recommendations of the two largest actuarial professional societies in the US: the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS).

Graduates of the Actuarial Science (B.S.) major are in high demand in the fields of insurance, finance, risk management, and pension industries.

Actuaries are also in demand in government and academia, as well as in roles related to data science and machine learning.

The demand for actuarial professionals is expected to remain strong in the future.

The first edition of the Jobs Rated Almanac (1988) had actuary as the number one career, and it has never been rated lower than fourth.

Actuarial salary surveys consistently place actuary as highly competitive for starting salaries.

For example, Fellows of the Society of Actuaries with 15 years of experience often earn in excess of $250,000 annually.

There are also opportunities for scholarships, such as the Highmark Presidential Scholarship in Actuarial Science, which provides a $25,000 annual award to help cover direct costs.

This scholarship is renewable for up to four years, provided the recipient remains in good standing.

Recipients of this scholarship are guaranteed to receive an internship offer from Highmark prior to their junior or senior year of study at RMU.

A degree in actuarial science typically requires a strong foundation in mathematics, including calculus, linear algebra, probability, and statistics. Students can expect to take courses such as Probability/Math Statistics I & II, Interest Theory, and Financial Mathematics.

The program consists of 10 courses for a total of 30 credit hours, which can be completed in 18 months by full-time students. A writing-intensive course, RMI 621 Risk Project, allows students to work on an actuarial related topic of their interest.

Students can also pursue minors in areas such as finance, economics, or data analytics. The program is designed to prepare students to succeed on the professional actuarial exams, with students taking the first exam in the freshman or sophomore year and the second exam in the following year.

Here is a breakdown of the common exams supported by the program:

Note that students who pass actuarial exams during their studies may be reimbursed for their exam fees through a generous corporate fund.

If you're interested in studying actuarial science, you'll want to focus on mathematics and statistics. The core coursework includes calculus, linear algebra, probability, statistics, and stochastic processes.

Actuarial science programs typically require courses in economics, accounting, and finance to understand the professional environment. You'll also develop computer, oral communication, and independent learning skills, which are essential for the profession.

To become an actuary, you'll need to pass professional exams, such as the Society of Actuaries (SOA) credentialing exams. A typical actuarial science program will support students in passing at least one of the SOA Exam P or FM before graduation.

A strong foundation in mathematics is crucial for actuarial science. You'll need to take courses in calculus, linear algebra, and probability. Here are some key math courses to focus on:

In addition to math courses, you'll also need to take courses in economics, finance, and applied statistics. These courses will help you understand the professional environment and prepare you for the professional exams.

Here's a rough breakdown of the courses you'll need to take:

Keep in mind that these are just general guidelines, and the specific requirements may vary depending on the program you're in.

To get accepted into a graduate program at the Peter J. Tobin College of Business, you'll need to meet certain requirements.

You must have a baccalaureate degree from an accredited institution or the international equivalent prior to enrollment.

In addition to submitting an application form and non-refundable application fee, you'll need to upload a statement of professional goals and resume, along with official transcripts from all undergraduate, graduate, and professional schools attended.

One letter of recommendation from a professional or academic reference is also required.

If English isn't your native language, you'll need to submit official TOEFL, IELTS, or Duolingo scores.

Students with international credits must also submit a course-by-course foreign credit evaluation with GPA calculation from a NACES member.

If you're applying to the Tobin College of Business Graduate programs, you may be automatically considered for a GMAT/GRE waiver if your GPA is 3.25 or higher.

However, if your GPA is below 3.25, submitting a GMAT/GRE score may strengthen your application.

Additionally, you'll need to have either passed the SOA/CAS Exam P or completed 6+ credits in college calculus and 3+ credits in calculus-based probability.

The School of Data Intelligence and Technology at Robert Morris University (RMU) offers a highly respected B.S. in Actuarial Science that prepares students for successful careers as actuaries. This program is recognized by the Society of Actuaries as one of only 19 Centers of Actuarial Excellence in the country.

RMU's curriculum integrates mathematical foundations of actuarial science with business education and communication skills, providing students with a well-rounded education. The program also emphasizes professional certification exams, with a focus on developing technical proficiency and analytical ability.

Here are some key courses in the program:

RMU's actuarial science curriculum is specifically designed to help prepare students for the first seven professional actuarial exams, administered by the Society of Actuaries.

Employers of MTSU Alumni are quite impressive. The university has a strong reputation for producing talented graduates who are in high demand by top insurance companies.

Acuff and Associates, Aetna, and Alfa Insurance are just a few of the many employers that have hired MTSU actuarial science degree alumni. These companies offer a wide range of career opportunities in actuarial science.

The list of employers is quite extensive, with over 20 companies listed. This includes major insurance companies such as Blue Cross Blue Shield of Tennessee and Nationwide Insurance.

Here's a sample of the employers that have hired MTSU actuarial science degree alumni:

This is a testament to the quality of the actuarial science program at MTSU.

The School of Data Intelligence offers a highly recognized B.S. in Actuarial Science program that prepares students for successful careers as actuaries. This program is internationally recognized and prioritizes professional certification exams.

RMU's Actuarial Science curriculum is specifically designed to help prepare students for the first seven professional actuarial exams, administered by the Society of Actuaries. There are fewer than 60 such programs in the United States, and RMU is one of only 16 designated as Centers of Actuarial Excellence.

The program offers small and informal classes, taught by experienced professors dedicated to undergraduate education. Students gain an appreciation for the high level of commitment required to pass these professional exams.

Students can expect to take courses such as FINA4260 Advanced Financial Math, ASCI4200 Statistical Modeling I, and ASCI4140 Actuarial Data Analysis.

Here is a list of some of the courses students can expect to take in the Actuarial Science program:

Applicants should have a very high aptitude and solid background in mathematics, and an interest in the world of business and finance. An ACT mathematics sub-score of 28 or an SAT mathematics sub-score of 670 is required for unconditional admission.