Actuarial Science Major
Actuarial Science is the study of how to measure and manage financial risk using mathematics and statistics. It is a major within Business & Management.
Actuarial Science is the study of financial risk and uncertainty, using mathematics and statistics to solve real-world problems. Actuaries analyze data to predict future events—such as insurance claims, investment returns, or pension obligations—and help organizations make decisions based on those predictions. The major teaches students how to model complex situations, interpret data, and communicate findings to non-technical audiences. Core skills include probability, statistical analysis, financial mathematics, and the ability to translate business questions into quantifiable models.
Students drawn to this major typically enjoy mathematics and problem-solving and are interested in applying those skills to practical business challenges. The program usually begins with foundational courses in calculus, probability, and statistics, then progresses to more specialized topics in actuarial methods, financial instruments, and risk management. Throughout their studies, students work on increasingly realistic problems and often prepare for professional actuarial exams, which are independent certifications required in the field. The major emphasizes both theoretical understanding and hands-on application.
Typical coursework
Course requirements vary by school, but a Actuarial Science program commonly includes topics such as:
- Probability
- Financial mathematics
- Life contingencies
- Loss models
- Statistics
- Insurance
Most programs also include general-education requirements and, in many fields, a capstone project, internship, or research experience.
Degree levels
Actuarial Science is commonly offered at these levels:
- Bachelor's
- Master's
Availability differs by institution, and program names can vary (for example, a Bachelor of Arts versus a Bachelor of Science track).
Common career directions
Graduates with a Actuarial Science background pursue a range of paths. Some roles related to this field of study include:
- Actuary
- Risk analyst
- Insurance analyst
- Quantitative analyst
Many careers require additional steps beyond the major — such as a graduate degree, a license, or a certification — and many graduates work in fields unrelated to their major. What you study is one factor among many in where your career goes.
General career information is drawn from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook. Career paths vary widely by person, school, and region; this is not a list of guaranteed jobs or earnings.
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Find degree programs →Frequently asked questions
What is a Actuarial Science major?
Actuarial Science is the study of how to measure and manage financial risk using mathematics and statistics. It is part of business & management, and combines foundational coursework with more focused study as you advance.
What courses do Actuarial Science majors take?
Coursework varies by school, but commonly includes topics such as probability, financial mathematics, life contingencies, loss models, and others, plus general-education requirements.
What can you do with a Actuarial Science major?
Graduates pursue a range of paths, including roles such as actuary, risk analyst, insurance analyst. Many roles require additional steps such as a graduate degree, license, or certification. This is general information, not a guarantee of any job or salary.
What degree levels is Actuarial Science offered at?
It is commonly offered at the bachelor's, master's level, though availability varies by institution.