The actuary career is one of the best-kept secrets in the job hunting sphere. There are only around 30,000 actuaries in the United States, but the pay is generous and the work is rewarding. The United States Department of Labor anticipates that the demand for this job will grow 26% by 2022! What exactly does an actuary do? In the broadest short-form explanation, an actuary forecasts and formulates strategies to mitigate future events. But instead of a crystal ball, they use numbers to see the future. They have strong mathematical and advisory skills with a knack for tinkering with technology. They partner with companies in fields like insurance, finance, and government to help them prepare for negative future events and figure out how to prepare investments, futures, and rates.
It typically takes 4 to 7 years for college students to become an actuary. An online bachelor’s degree is only required to enter the workforce, and if you’re good at math, the study material itself is not that hard to accomplish. The real challenge comes from passing the actuarial exams, which are administered by the Society of Actuaries and the Casualty Actuarial Society in the United States and Canada. There are seven exams total, and only one or two are required for students to enter the career field. However, if an actuary wishes to climb up the ladder, passing the other exams is the best course of action. This is where the quality of an actuary’s education comes into play. Below are 20 schools with at least one actuary degree program you can enroll in for the best value.
The Best 20 Colleges with Actuary Degree Programs
1
University of Wisconsin School of Business, Madison
- Madison, Wisconsin
- Graduation Rate: 88%
- Points: 55
The main campus of this well-reputed school is a top leading STEM school in the Midwest, and its BBA in Actuarial Science program is hard to compete with. It’s one of the best actuarial degrees in the United States, and students get the amazing opportunity to take part in the Technology Enhanced Learning Project, which helps shape public educational support systems. The school has relationship ties in the insurance, government, and finance sectors, making it an optimal choice for advancement in actuarial careers.
The actuarial degree program at the University of Texas Austin campus is as much a big deal as the state it hails from. Public Ivy recognition and a worldwide reputation show testament to the school’s hard work, combined with a sleek career-minded curriculum. Students learn actuarial science curriculum in a math concentration, and how it applies to the latest business standards in the insurance and finance industries.
University of California – Santa Barbara
- Graduation Rate: 83%
- Points: 46
UC Santa Barbara is a campus of the premier University of California system and is currently ranked #6 Public University in the nation (2021 USNWR). Over 300 students are majoring in the Actuarial Science program hosted by the Department of Statistics & Applied Probability, distinguished by its interdisciplinary curriculum blending rigorous actuarial career preparation with statistics, data science, financial mathematics and probability courses. Top students continue to the combined BS/MS degree in Actuarial Science featuring team research projects carried out in close collaboration with industry sponsors.
The Department of Mathematics at the University of Pittsburgh (Pitt) offers the B.S. in Actuarial Mathematics. As an interdisciplinary program, the Pitt’s Actuarial Math program is very attractive to students who are interested in mathematical finance, quantitative finance, risk management, and business administration and aiming at a strong entry into careers in banking and insurance industries.
The degree program offers courses in statistics, finance, economics, and data science. These courses and additional seminars organized by the Pitt Actuarial Club are designed in the way to prepare students taking the professional actuarial society examinations. Every year there are about 25 students graduated from the program. On average, each graduate passes 3 exams upon graduation.
Pitt’s outstanding reputation throughout the northeast already gives our students an advantage on the job market. In addition, the math department hosts annual actuarial job fairs participated by many insurance companies and finance firms nationwide. Through these successful job fairs and other meanings of advertising and job-searching activities at Pitt, more than 80% of Pitt actuarial graduates, upon graduation or within six months of graduation, are able to secure a full-time job or be admitted to graduate schools.
This private school in Pittsburgh is famous for its founding by the business tycoon Andrew Carnegie, and it carries on his reputation for success in its alumni. Students learn actuarial business skills in the computational math area of focus, which continues through the bachelor’s and master’s degree levels. Over 98% of students graduating with an MS in Computational Finance receive job offers from employers, including those in the actuarial professional sector.
Michigan State University College of Natural Science
- Graduation Rate: 81%
- Points: 39
7
Auburn University
- Auburn, Alabama
- Graduation Rate: 79%
- Points: 37
8
- Indianapolis, Indiana
- Graduation Rate: 82%
- Points: 35
9
- Graduation Rate: 73%
- Points: 34
10
Drake University College of Business and Public Administration
- Graduation Rate: 81%
- Points: 32
11
Saint Joseph’s University
- Philadelphia, Pennsylvania
- Graduation Rate: 81%
- Points: 30
12
Bradley University
- Graduation Rate: 77%
- Points: 27
13
University of Nebraska-Lincoln
- Graduation Rate: 66%
- Points: 24
14
- Graduation Rate: 75%
- Points: 24
15
Louisiana State University College of Science
- Graduation Rate: 68%
- Points: 22
16
University of Maine at Farmington
- Farmington, Maine
- Graduation Rate: 58%
- Points: 21
17
University of St. Thomas, Minnesota School
- Graduation Rate: 76%
- Points: 21
18
- Graduation Rate: 70%
- Points: 20
19
- Graduation Rate: 71%
- Points: 18
20
- Graduation Rate: 65%
- Points: 17
Our Ranking Methodology
All of the points given to rank the schools were based on the estimated tuition and graduation rates from each college’s website. The data was calculated based on the academic semester year and in-state rates. An academic year is defined by two semesters in our calculations. Scoring data is sourced from the specific campus mentioned rather than the parent school where it applies. Each college was first given two scores, one by the lowest amount of tuition and the second by the highest graduation rate. Each score set was combined to achieve the total score, to which a weighted total was applied for the final result shown above. The weighted total applied a two-thirds emphasis on the graduation rate over the tuition.
If you work for one of the colleges listed and find something that needs to be corrected, feel free to contact us at Best Value Schools. We strive to present the most accurate college data to the best of our ability. Are you a student looking for actuary degree information? See more at Best Value Schools and begin broadening your horizons today.
Whether you’re trying to start your career or make a big change, we can help you find the perfect school to help you reach your goals.
#J-18808-Ljbffr
