Introduction
Do you spend time carefully evaluating risks? Is a decision or investment worth the potential outcomes? If this sounds like your personality, a bachelor’s degree in actuarial science from Assumption University might be the perfect fit.
Actuaries use training in mathematics and economics to solve business problems involving risk and are highly sought after because of their multidisciplinary background and strong quantitative skills. The Department of Mathematics, Computer Science and Actuarial Science are excited to announce a new major in actuarial science. This rigorous major requires students to take courses in mathematics, economics, and business studies. The curriculum is designed to prepare students for the first two Actuarial Exams sponsored by the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS).
Welcome to Actuarial Science at Assumption University! This is a rigorous major with required courses in mathematics, economics, and business studies. Prior to arrival at Assumption, students who haven’t had calculus in high school are encouraged to consider a summer calculus course. At a minimum, entering students must have strong pre-calculus skills.
The curriculum of the Actuarial Science major is designed to prepare students for the first two Actuarial Exams sponsored by the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS).
Actuarial Science majors are encouraged – but not required – to take the first Actuarial Exam (SOA Exam P, Probability) soon after taking MAT 208. Exam P is a minimum requirement for entry into a summer internship or full-time employment as an actuary in an insurance company program. Advanced students may also consider taking the second Actuarial Exam (SOA Exam FM, Financial Mathematics) before graduation.
Degree Requirements
This rigorous major requires students to take courses in mathematics, economics, and business studies. Prior to arrival at Assumption, students who have not taken calculus are encouraged to consider a summer calculus course. Students will be prepared to take the first two Actuarial Exams sponsored by the Society of Actuaries (SOA) and the Casualty Actuarial Society (CAS). Internships are highly encouraged to allow students to apply their classroom knowledge to real-world scenarios and build a professional network.
Internships
Students may participate in the University’s internship program and spend a semester gaining practical experience. There are two types of internships. Students can earn academic credit by working with an academic advisor and the internship site. Or students may participate in a career internship, which provides valuable experience but does not offer academic credit. Both types of internship experiences offer students the experience needed to enhance their educational experiences and prepare them for post-graduate successes.
Careers and Graduate Schools
The actuarial science major prepares students for successful careers as actuaries. Most students are employed by insurance companies to manage and calculate risk upon graduation. According to the U.S. Bureau of Labor and Statistics (USBLS), the median pay for actuaries is $93,000 per year; new hires average $65,000 per year; fellows $130,000; and mature fellows $260,000. The federal agency’s job outlook for actuaries predicts growth “much faster than average” for the next seven years.
