Beyond the Classroom: Actuarial Science
Key Resources
Academic Advisors
Visit the NatSci Advising page for contact information and instructions for scheduling an appointment
Department Website
Visit the department website for important updates and information
Major Requirements
Visit the Office of the Registrar's website for detailed information about requirements
Students learn the necessary skills to thrive in an Actuarial position. After the
completion of calculus, these skills include the analysis of risk, investment options,
modeling, and other
topics pertaining to the insurance industry. A major goal of this track is to prepare
students to succeed on the Actuarial Preliminary Exams.
Skills and Competencies
- Risk Analysis & Management – Assess and manage risk using statistical and mathematical models
- Financial & Economic Knowledge – Understand finance, economics, and investment principles
- Data Analysis & Computational Skills – Analyze data and build predictive models using programming and computational tools
This Major Could Be For You If:
- You enjoy working with numbers and have a strong interest in mathematics and statistics
- You want to prepare for and pass the Actuarial Preliminary Exams
- You want a career that involves analyzing data to solve real-world problems
Common Questions
What does an actuary do?
Actuaries analyze financial risks using mathematics, statistics, and financial theory to study uncertain future events, particularly in the insurance and finance industries. They help companies develop policies that minimize the cost of that risk.
What makes this major unique?
The Actuarial Science major at MSU is interdisciplinary, integrating coursework in mathematics, finance, economics, and computer science. This comprehensive approach not only prepares students for actuarial exams but also equips them with versatile skills applicable to various industries.
Skill Development
Building your skills takes exploration and experience. These opportunities below are options you may be interested in. These are ideas to get you started; you have the freedom to find what aligns with your goals.
Research Opportunities
- Consider faculty-directed research or off-campus summer programs
- Connect with the Undergraduate Research Office for assistance
Work-Based Learning
- Develop professional skills through on- or off- campus work or internships with the help of the Career Services Network
- Gain experience through volunteer work via the Center for Community Engaged Learning
Career Growth
- Engage with NatSci’s Career Exploration workshops and resources
Campus Involvement
- Connect with other students in clubs like the Actuarial Science Club
Education Abroad Ideas
University of New South Wales
- 12-15 weeks | Fall/Spring
- Direct Enroll
Lancaster University
- 12-15 weeks | Fall/Spring
- Direct Enroll
To get started with Education Abroad and to explore other programs that suit your goals, check out the MSU Education Abroad website or visit the Education Abroad Advising Center.
Career Exploration
Career exploration is all about discovering the paths that align with your interests, personality, lifestyle, values and skills. Remember, your major doesn’t define your career, and the career cluster examples provided are just a starting point—not an exhaustive list. Explore widely, and keep an open mind as you shape your future!
Insurance & Risk Management
Careers
- Financial Analyst
- Investment Analyst
- Quantitative Analyst
- Financial Consultant
- Portfolio Manager
Key Employers
- Investment firms
- Banks
- Hedge funds
- Asset management companies
- Financial consulting firms
- Corporate finance departments
Strategies
- Prepare for and pass the Actuarial Preliminary Exams
- Join relevant clubs and organizations, such as an actuarial science club, to network and hear from experts in the field
- Gain experiences via work with insurance companies or risk management departments
Finance & Investment
Careers
- Petroleum Geologist
- Mining Geologist
- Exploration Geologist
- Geophysicist
- Reservoir Engineer
Key Employers
- Oil and gas companies
- Mining companies
- Energy consulting firms
- Government geological surveys
- Natural resource management agencies
- Energy technology companies
Strategies
- Consider taking coursework related to finance, economics, and investment analysis
- Develop proficiency in programming languages like Python or R for financial modeling
- Get involved in finance or investment clubs to build a network and gain practical experience
Data Science & Analytics
Careers
- Data Scientist
- Statistician
- Data Analyst
- Business Intelligence Analyst
- Operations Research Analyst
Key Employers
- Technology companies
- Healthcare organizations
- Government agencies
- Research institutions
- Consulting firms
- Manufacturing companies
Strategies
- Gain experience with data visualization tools like Tableau or Power BI
- Participate in hackathons or data science competitions to build and showcase your skills
- Pursue certifications in data science or analytics to enhance your credentials
- Work on projects or internships that involve big data and analytics
Looking for more options?