Do you like mathematics but don't want to become an engineer? Then the field of actuarial science might be for you.
In fact, actuarial science is rated as one of the best jobs in the United States. In almost every category, such as work environment, employment outlook, job security, growth opportunity and especially salary, a career as an actuary is hard to beat.
Actuaries are professionals who use math and statistics to manage risk, evaluate the likelihood of future events and reduce the likelihood and impact of undesirable events.
Our Program
MSOE offers an intimate, interactive learning environment with professors who have years of industry and business experience. MSOE's long history of educating engineering and business professionals makes it a natural place for you to become an actuary.
Graduates of MSOE’s actuarial science program will:
- Demonstrate knowledge and skills in applied mathematics, computer programming and computer applications such as: spreadsheets, presentation software, statistical analysis programs, database management and programming languages
- Have good business sense
- Display an understanding of professional and ethical responsibilities
- Display in-depth communications, management and teamwork skills
- Be well prepared for the first two actuarial exams on probability and financial mathematics before completing their bachelor's degree.
- Be well prepared to be accepted and successfully complete a master’s degree program in any related field
MSOE offers an engaging environment, where you learn and form friendships with professors and classmates. Growing as a person is stressed as well as growing intellectually.
We are connected across campus, but also within the community. You have time to visit the cultural sites that surround our campus, volunteer in the community, or go out for some fun.
The Results
The average starting salary for an actuary with less than one year experience is $46,000 to $65,000. Actuaries with five to ten years of experience earn between $70,000 and $240,000 (http://www.BeAnActuary.org). Many actuaries work for the insurance industry to calculate costs and determine premiums for policy holders. Others design pension and benefit plans; evaluate assets and liabilities; and help the government manage its programs and ensure compliance with regulatory laws. U.S. Bureau of Labor Statistics predicts an increase of 27 percent between 2010-2020, which is much faster than the average for all occupations.
With an MSOE actuarial science degree you will be qualified to work in a wide range of organizations including:
- Insurance companies
- Colleges and universities
- Banks
- Investment firms
- Public accounting firms
- Government
- Labor unions
- Rating bureaus
Program Director: Dr. Yvonne Yaz
If you would like to learn more about this program, please contact the Admission Office.