Actuarial Science Schools and Programs in The United States

Actuarial Science Studies in The United States

Actuaries use mathematics, statistics and financial theory to analyse the economic costs of risk and uncertainty, and most of them work for insurance companies, according to the US Bureau of Labor Statistics (BLS). In the United States the route into the profession has two parts that run side by side: a university degree and a series of professional exams set by the actuarial societies. Choosing where to study therefore also means checking how well a programme prepares students for those exams.

How the degree is organised

A US bachelor's degree is usually completed in four years of full-time study. The BLS states that actuaries typically need a bachelor's degree in mathematics, actuarial science, statistics or another analytical field. An actuarial science major is not compulsory: Be An Actuary, the careers site of the Society of Actuaries (SOA) and the Casualty Actuarial Society, notes that majors in mathematics, statistics, finance and economics also provide a solid foundation. Coursework in computer science, especially programming languages, is important as well.

Programmes sit in different parts of a university. At Saint Joseph's University in Philadelphia the actuarial science major belongs to the Haub School of Business, while Worcester Polytechnic Institute awards a Bachelor of Science in Actuarial Mathematics and lets students combine it with a master's degree. Master's degrees, which normally take two years in the United States, are an option for graduates of other quantitative subjects.

Professional exams and SOA recognition

To become an Associate of the Society of Actuaries (ASA), candidates complete examinations, e-Learning courses, a professionalism seminar and Validation by Educational Experience (VEE), which covers economics, accounting and finance, and mathematical statistics through approved university courses. The BLS reports that many employers expect new hires to have passed at least one or two exams before graduation, and that it may take up to 7 years to earn the associate-level certification.

The SOA publishes a list of Universities and Colleges with Actuarial Programs (UCAP) with several recognition levels. The SOA says that the information on the list should be verified by the student considering the programme.

• UCAP-IC (Introductory Curriculum): courses covering at least two SOA preliminary exams and at least one VEE topic. Listed schools include Ashland University, Colorado State University, Ferris State University and Saint Joseph's University
• UCAP-AC (Advanced Curriculum): courses covering at least four preliminary exams and all VEE topics. Listed schools include Arcadia University, Butler University, Florida State University, the University of Pittsburgh, The University of Texas at Austin and Worcester Polytechnic Institute
• Centers of Actuarial Excellence (CAE): programmes that meet eight requirements on degree, curriculum, faculty, graduates, links to industry and research. The Ohio State University and the University of Connecticut hold this status
• CAE with University-Earned Credit (UEC): students can become eligible for SOA exam credit through designated marks in university courses. Temple University, The Pennsylvania State University, Purdue University, Illinois State University and the University of Michigan are listed at this level

Admission and language

Undergraduate applications for a September start are typically due between November and January. Teaching is in English, and US universities require an English language proficiency test before admission. Students who begin at a community college, such as Broward College or Chemeketa Community College, can use the "2+2" route: two years of community college followed by two years at a university to complete the bachelor's degree. International degree students normally hold an F student visa, which requires admission to an institution certified by the Student and Exchange Visitor Program (SEVP).

Where to study actuarial science in the United States

The 23 schools listed for actuarial science are spread across the country, mostly at large public universities and mid-sized private ones. Philadelphia has three of them: Temple University, Saint Joseph's University and the University of Pennsylvania. Other examples are in Columbus, Ann Arbor, Austin, West Lafayette, Storrs, Tallahassee and Pittsburgh.

Recognition and careers

US higher education is not centrally organised; institutions are accredited at national or regional level by independent accrediting bodies. The degree itself does not make a graduate an actuary: the professional designations come from the exams. Fellowship is offered in five tracks, among them life and annuities, group and health benefits, and retirement benefits. Pension actuaries typically must also be licensed by the federal Joint Board for the Enrollment of Actuaries.

The BLS projects employment of actuaries to grow 9 percent from 2025 to 2035, with about 1,500 openings a year, and gives a median annual wage of $130,000 in May 2025. Employers often pay for exams and study materials or give paid study time.

Frequently asked questions

Do I need a degree in actuarial science to become an actuary in the United States?

No. The BLS states that actuaries typically have a bachelor's degree in mathematics, actuarial science, statistics or another analytical field. What counts is the degree plus the professional exams.

How long does it take to qualify as an actuary?

A bachelor's degree usually takes four years. According to the BLS, earning the associate-level certification may take up to 7 years, and fellowship typically takes several more years.

What do the SOA recognition levels mean?

They describe how much of the SOA exam syllabus a university's courses cover, from UCAP-IC and UCAP-AC to Centers of Actuarial Excellence. They are not a ranking of universities.

Can I start at a community college?

Yes. With the 2+2 model, two years at a community college are followed by two years at a university to complete the bachelor's degree.