Actuarial Science Major

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Harness your expertise in mathematics, finance, statistics and data analytics to help businesses model and assess risk.

Prepare for work in an intellectually challenging, rigorous and in-demand profession.

Studying Actuarial Science at Alma College

Actuaries use mathematics, statistics and financial theory to analyze, forecast and mitigate financial risk — an essential role in industries such as insurance, healthcare and finance.

Our program is designed to equip you to pass the foundation level in the Associate of the Society of Actuaries (ASA) pathway. As an actuarial science major at Alma, you’ll take classes in mathematics, economics, business and data analytics. You’ll study the material needed to pass the Society of Actuaries (SOA) exams in financial mathematics (FM) and probability (P).

You’ll also fulfill validation by educational experience (VEE) requirements in economics and accounting and finance.

Program Highlights

Because actuarial science is an interdepartmental major, you’ll be exposed to a variety of complementary courses across our curriculum, where you’ll cultivate transferable and highly sought-after skills.

You’ll learn to visualize and present data using tools and languages such as Excel, Python and R. You’ll develop your capacity for analytical and critical thinking and problem-solving. You’ll also get real-world experience.

Students in the actuarial science major must complete either an internship or an independent study. Most students will participate in a placement in an actuarial setting. This will give you direct insight into an actuary’s day-to-day responsibilities and allow you to build your network and resume before graduating.

In some cases, you may instead opt for an independent study — a supervised, student-driven project or period of study that will help you prepare for the first two actuarial exams.

Where Can Actuarial Science Take Me?

Qualified actuaries are positioned to secure well-paid, rewarding and interesting work post-graduation. According to the U.S. Bureau of Labor Statistics, actuaries earn an average annual salary of $105,900. In the next decade, demand for actuarial practitioners is expected to grow by 21% — much faster than average.

The profession is also frequently cited as one that offers opportunities for advancement, competitive compensation and an excellent work-life balance. Forbes lists actuarial science as one of the top five bachelor’s degrees for salary potential, and the U.S. News & World Report ranks the occupation as one of the top 10 best business jobs.

Thanks to our program’s rigorous and multidisciplinary nature, you’ll also be well-placed to pursue a wide range of math, statistics and data analytics careers.