by our College Data Analytics TeamIn 2020-2021, actuarial science was the 278th most popular major nationwide with 2,206 degrees awarded. This represents a 6.4% increase in actuarial science degrees awarded over the prior year's total of 2,065.
This year's Best Actuarial Science Schools ranking compares 101 of them to identify the best overall programs in the country. Continue reading to check out one of our many unbiased rankings of actuarial science programs later in this article.
One of the most important skills you will need for a career in actuarial science is using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems. Understanding written sentences and paragraphs in work related documents and giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times are all required skills for careers related to this major.
actuarial science degree applicants generally need have finished high school or their GED. Many schools may also have GPA and SAT/ACT score minimums that must be met. Once you obtain your degree, additional actuarial science certifications required to pursue a career in this field.
Actuarial Science degree levels vary. Actuarial Science programs offered by schools range from a to a , which is the highest actuarial science degree you can get. The time it takes to complete a actuarial science degree varies depending on the program.
| Degree | Credit Requirements | Typical Program Length |
|---|---|---|
| Associate Degree | 60-70 credits | 2 years |
| Bachelor’s Degree | 120 credits | 4 years |
| Master’s Degree | 50-70 credits | 1-3 years |
| Doctorate | Program required coursework including thesis or dissertation | At least 4 years |
A bachelor's degree is the most common level of education achieved by those in careers related to actuarial science, with approximately 46.0% of workers getting one. People currently working in careers related to actuarial science tend obtained the following education levels.
| Level of Education | Percentage of Workers |
|---|---|
| Bachelor’s Degree | 43.8% |
| Doctoral Degree | 26.7% |
| Post-Baccalaureate Certificate | 9.4% |
| Master’s Degree | 7.5% |
| First Professional Degree | 4.3% |
Most workers in actuarial science have at least a bachelor's degree. See the chart below for the most common degree level workers in actuarial science have received.
This of course varies depending on which actuarial science career you choose.
Want a job when you graduate with your actuarial science degree? Actuarial Science careers are expected to grow 8.0% between 2016 and 2026.
The following options are some of the most in-demand careers related to actuarial science.
| Occupation Name | Projected Jobs | Expected Growth |
|---|---|---|
| Business Professors | 123,000 | 18.0% |
| Insurance Underwriters | 98,600 | -5.3% |
| Actuaries | 28,900 | 22.5% |
As you might expect, salaries for actuarial science graduates vary depending on the level of education that was acquired.
Salaries for actuarial science graduates can vary widely by the occupation you choose as well. The following table shows the top highest paying careers actuarial science grads often go into.
| Occupation Name | Median Average Salary |
|---|---|
| Actuaries | $116,250 |
| Business Professors | $103,330 |
| Insurance Underwriters | $76,880 |
With over 197 different actuarial science degree programs to choose from, finding the best fit for you can be a challenge. Fortunately you have come to the right place. We have analyzed all of these schools to come up with hundreds of unbiased actuarial science school rankings to help you with this.
Actuarial Science is one of 3 different types of Management Sciences & Quantitative Methods programs to choose from.
| Related Major | Annual Graduates |
|---|---|
| Management Science | 23,510 |
| Other Management Sciences and Quantitative Methods | 13,371 |
| Business Statistics | 4,295 |
