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Overview
The Actuarial Science program focuses on the application of mathematical and statistical methods to assess risk and inform strategic decisions. Students will build upon a foundation in mathematics and learn how to apply concepts in financial mathematics and computer programming to real-world problems. As a profession, actuaries report high job satisfaction, low unemployment, and competitive compensation. According to the Bureau of Labor Statistics, the median salary for an actuary is $111,030 and the number of jobs in Actuarial Science is expected to grow 18% - driven by the changing needs of the insurance industry. Students pursuing Actuarial Science will also build a foundation to pass the exams necessary to enter the Society of Actuaries.
Program Description
Actuaries build mathematical models to account for the many risk factors organizations must consider when building strategy. Financial, logistical, and business risks all have to be carefully weighed against each other, and actuaries help paint a picture of the road ahead with numbers and statistics. As well as working for insurance companies, actuaries work for consulting firms, government agencies, accounting firms, industrial businesses, banks, and financial institutions. The major provides a strong math foundation coupled with robust actuarial science courses.
Career Opportunities
Actuaries
$
111,030
It is routinely ranked as a “Top-10” job among major career ranking systems due to high job satisfaction, low unemployment, very competitive compensation
Personal Financial Advisors
$
89,330
Personal financial advisors provide advice to help individuals manage their finances and plan for their financial future. Most personal financial advisors work in the finance and insurance industry or are self-employed.
Mathematicians and Statisticians
$
93,290
Many mathematicians and statisticians work in the federal government and in private science and engineering research companies. They may work on teams with engineers, scientists, and other professionals.
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Career Support
Throughout the actuarial science curriculum, students explore professional opportunities and career options. They network and participate in the thriving Twin Cities community. Course projects and student coursework answer to the highest expectations of an extremely competitive profession.
