Actuarial Science

The Actuarial Program at Illinois State University is a Center for Actuarial Excellence, one of the first nine academic programs in the United States to receive that recognition in 2009, and the first one in the State of Illinois. It is one of the leading actuarial programs in the United States, offering an undergraduate Bachelor degree, and a graduate Master degree. The program combines high quality education in all areas of actuarial theory with serious commitment to actuarial practice and professionalism.

Why Study Actuarial Science?

Actuaries put a price tag on future risks. Those risks are usually associated with possible financial losses. An actuary uses mathematical skills to define, analyze, and solve business and social problems. Actuaries calculate costs of insurance, pensions, and social programs (e.g., Social Security, Medicare), represented in the premium or taxes paid, and they also estimate the amounts that insurance companies, or pension plans, or social insurance systems, must set aside in reserves to be able to meet their obligations.

Related Skills

• Logical Thinker
• Strong numerical computational ability
• Ability to analyze, interpret data
• Problem solver
• Critical thinker
• Attention to detail and commitment to accuracy
• Works well in teams
• Interested in business

Being Successful in the Field

• A bachelor's degree is typically sufficient for entry-level positions. While a graduate degree may be useful, it is not necessary. Pair a strong background in mathematics with serious interest in the business world.
• Conduct informational interviews with professionals in areas of interest to enhance knowledge and make contacts.
• Stay informed of new developments and current trends in the field.
• Gain experience through professional internships and part-time or summer jobs.
• Develop competencies in a specific area of interest.
• Curriculum combines mathematics courses with business, economics,computers, and statistics for increased job opportunities.
• Maintain a high grade point average.
• Build relationships with faculty for career information, contacts,and letters of recommendation.
• Join related student professional associations and seek leadership positions.

Related Fields

• Insurance
• Finance
• Statistics
• Data Processing
• Testing
• Quality Control
• Consulting

Employers

• Insurance companies
• Consulting firms
• Government

Strategies

• Maintain high G.P.A.
• Pass at least two professional actuarial examinations by the end of junior year.
• Gain relevant experience through professional internships, summer, or part-time jobs.
• Learn about the business of insurance.
• In particular, learn to communicate mathematical ideas effectively to non-mathematical audiences.

Career Industry Liaison

Internship Coordinator

Applying to Illinois State

Applying by our priority deadline is encouraged for best consideration for your academic program and for scholarships. Start your application today!

Applying to Illinois State

Applying by our priority deadline is encouraged for best consideration for your academic program and for scholarships. Start your application today!

Minimum GPA

2.50

Middle 50% GPA

3.24 - 3.90

Required Courses

Calculus I and II (MAT 145 and 146) with grades of B or better.

Strong students with less than 30 hours and calculus I completed will be considered on a case-by-case basis.

Recommended Courses

To find the course equivalencies at an Illinois community college, please review our Course Articulation Guides.

• Macro- and Micro-economics (ECO 101 and 102)
• Calculus III (MAT 147)
• Elementary Linear Algebra (MAT 175)
• Financial Accounting (ACC 131)
• Managerial Accounting (ACC 132)

Academic Advising

Minimum GPA

2.50

Middle 50% GPA

3.24 - 3.90

Application Period

Applications are always accepted

Application Information

Current students can use the Apply to Your Program tool on My.IllinoisState.edu.

Major Requirements

Grades of "B" or better in MAT 145 and 146

Academic Advising