Overview
Actuaries use mathematical tools to analyze the financial costs of risk and uncertainty, assess the risk of potential events, and minimize the cost of such risks 黑料社鈥檚 covers a wide range of mathematics including abstract algebra, probability and statistics, combinatorics, and advanced calculus, while focusing your studies in actuarial science through coursework in accounting, economics, investments, and financial management.
In the Actuarial Science sequence, you will prepare to take the initial two actuarial examinations developed by the professional actuarial societies. In addition to a strong knowledge base in mathematics, including probability and statistics, coursework includes risk management, finance, economics, and investments.聽
Reach Your Career Goals
In the Actuarial Science program, you will be prepared to apply mathematical proficiency to real-world solutions and enter careers in a variety of insurance types鈥攍ife, health, and property and casualty, among others鈥攁s well as career fields that involve investments, such as pension and retirement, enterprise risk, and the public sector. As an actuary, you will use research-based strategies to evaluate and lessen risk for insurance companies while keeping costs and benefits competitive for policyholders.
Why get a Master of Science in Mathematics鈥擜ctuarial Science?
With a graduate degree in Actuarial Science, you will be equipped with skills essential to many industries鈥攑articularly the insurance industry, a growing sector. Actuaries often work alongside accountants and underwriters to determine appropriate insurance rates. Others consider investment risk for organizations in both the private and public sectors.
Employment of actuaries is projected to grow 23% from 2022 to 2032, much faster than the average for all occupations, and the average annual salary for actuaries in Chicago as of 2024 was between $75,004 and $184,551. Please note that salary ranges can vary widely depending on the actual Actuary position you are looking for. ().
Delivery Format
Achieve your master鈥檚 degree in as little as 18 months. 黑料社鈥檚 34-credit hour Mathematics鈥擜ctuarial Science M.S. is offered fully on-campus or in a hybrid format. Enroll full-time to jumpstart your career or part-time for added flexibility.
Testimonials
"Entering the Actuarial Science program, I was looking for a career change. While my courses focused on applied mathematical risk analysis, they fostered the development of business skills. These strengths have carried through in my current role as Enterprise Risk Analyst鈥攁 position that began as an internship as a curriculum requirement but has turned into a full-time position."
Frank Lattyak, Options Clearing Corporation (OCC)
"As an actuary, you will have a challenging and rewarding career, solving real-world problems, with very competitive salaries. After completing the common track, you will concentrate on one of many specialty areas, including but not limited to risk management, insurance (health, life, and casualty), retirement, or predictive analytics."
Dr. Dianna Galante, Professor Emeritus
Curriculum and Required Preparation
Division of Science, Mathematics, and Technology
Resources for Math Students