Explore Top-Ranked Colleges for Actuarial Science Majors in the U.S.
If you're planning to pursue a career in actuarial science, choosing the right college can set the foundation for your future. The United States offers a diverse range of colleges and universities with actuarial science degrees. Some of these institutions are designated as Centers of Actuarial Excellence by the Society of Actuaries (SOA), a mark of distinction in the field.
Actuarial science blends mathematics, statistics, finance, and risk management. Picking the right program will help you pass actuarial exams, gain internship experience, and connect with professional networks.
Best U.S. Colleges for Actuarial Science Degrees
Here are some of the best colleges and universities in the United States offering actuarial science degrees. These institutions are recognized for academic rigor, strong industry connections, and successful student outcomes.
- University of Illinois at Urbana-Champaign – One of the first schools to earn the SOA Center of Actuarial Excellence recognition. The program offers a comprehensive curriculum and access to top actuarial internships.
- Drake University – Known for its dedicated actuarial science major housed in the College of Business and Public Administration. Offers exam prep and professional development support.
- University of Wisconsin–Madison – A long-established actuarial science program that provides both undergraduate and graduate degree options. Offers strong industry recruitment and alumni connections.
- Pennsylvania State University – Offers actuarial science as a concentration under risk management. The Smeal College of Business emphasizes real-world application through case studies and projects.
- University of Connecticut – Recognized for actuarial excellence and high exam pass rates. Offers support for SOA and CAS certifications and close collaboration with insurance firms.
- Ball State University – Offers a Bachelor of Science in Actuarial Science with targeted coursework in economics, programming, and finance. One of the few schools offering predictive analytics at the undergraduate level.
- University of Nebraska–Lincoln – Features small class sizes and a curriculum based on SOA and CAS exam syllabi. The program is flexible and internship-focused.
- Illinois State University – Offers a structured path to professional certification. Hosts an annual actuarial career fair and maintains close ties with industry professionals.
- St. John’s University (NY) – Offers an actuarial science track under the School of Risk Management. Located in New York City, it provides access to major financial companies and internship opportunities.
- Temple University – Offers a Bachelor’s in Actuarial Science through the Fox School of Business. Highly focused on preparing students for actuarial exams and data analytics roles.
What Makes a Great Actuarial Science Program?
As you evaluate programs, consider these factors that impact your academic and career success:
- SOA Center of Actuarial Excellence Status: Indicates high program quality, student outcomes, and research output.
- Actuarial Exam Preparation: Look for schools that integrate SOA and CAS exam topics directly into coursework.
- Internship Support: Strong programs build connections to actuarial internships at insurance companies, consulting firms, and government agencies.
- Faculty Experience: Professors who are credentialed actuaries can provide insight and mentorship.
- Job Placement Rates: Schools with established actuarial science programs often have high placement rates for graduates.
Career Outcomes for Actuarial Science Graduates
Graduates with an actuarial science degree pursue careers in:
- Insurance underwriting and pricing
- Pension and retirement planning
- Risk management for banks and corporations
- Government agencies
- Data analytics and predictive modeling
According to the U.S. Bureau of Labor Statistics, the median pay for actuaries as of 2023 is over $113,000 per year. Entry-level actuaries can expect to earn competitive salaries with strong growth potential after passing two or more professional exams.
Top Skills You'll Gain in Actuarial Science Programs
During your actuarial studies, you will build a solid skillset that includes:
- Mathematical modeling and probability theory
- Statistical analysis and forecasting
- Understanding insurance and financial regulations
- Communication of technical findings to non-technical audiences
- Use of software tools like R, SAS, Python, and Excel
These are the essential skills employers look for in actuarial candidates. An accredited program will embed them in both classroom learning and hands-on projects.
How to Increase Your Admission Chances for a Top Actuarial Program
If you're in high school or early college, here are a few steps to strengthen your application for a top actuarial school:
- Take AP or college-level courses in math, statistics, economics, and computer science
- Join math clubs or participate in competitions
- Learn programming languages like Python or R
- Explore summer programs or internships related to finance or analytics
- Prepare for SAT or ACT with a focus on math scores
Universities with rigorous actuarial science degrees tend to admit students with strong analytical and math backgrounds. Show your passion and preparation through your academics and extracurriculars.
Common Questions About Actuarial Science Programs
Do I need to major in actuarial science to become an actuary?
No. You can become an actuary with a degree in mathematics, statistics, economics, or finance. However, actuarial science programs typically align closely with SOA and CAS exam topics, which helps you pass exams faster.
How many actuarial exams should I pass before graduating?
Many employers prefer candidates who have passed at least two actuarial exams before graduation. Some top programs integrate exam preparation into required classes.
What's the difference between the SOA and CAS?
The Society of Actuaries (SOA) focuses on life insurance, health insurance, retirement, and finance. The Casualty Actuarial Society (CAS) focuses on property and casualty insurance like auto and homeowners. Your choice depends on the industry you want to work in.
What is the job market like for actuaries?
The job market for actuaries is strong. According to the U.S. Bureau of Labor Statistics, actuarial jobs are expected to grow 21% between 2021 and 2031, much faster than the average for all occupations.
Selecting the right college for your actuarial science degree helps open the door to a meaningful and high-paying profession. As you research programs, focus on those that blend technical excellence, strong industry ties, and exam preparation support to launch your career as successfully as possible.
