Mathematics Major - Actuarial Science Concentration
Mathematics is a powerful tool with many applications in everyday life. Just look around. Some of humanity’s proudest achievements all rely on the use of numbers. The planes flying over your head, the availability of complex medical care and even the computer or smartphone you are using now were only made possible by the work of mathematicians.
Being an Actuary
Actuaries are experts in
- evaluating the likelihood of future events
- designing creative ways to reduce the likelihood of undesirable events
- decreasing the impact of undesirable events that do occur
They have strong skill sets in
- Mathematics and Statistics
- Programming and data analysis
- Economics, finance, accounting
Why should you be an actuary
- Actuary is consistently rated as one of the best jobs in America, and many actuaries earn more than that.
- Experienced fellows have the potential to earn from $150,000 to $250,000 annually
- Entry-level salaries are about $75000-$85000, highly related to how many actuarial exams passed.
- On the whole, the actuarial profession affords the opportunity for individuals to achieve a good balance between their work and personal life.
How to be an Actuary
During Your University Years
- Taking courses recognized by the Society of Actuaries (SOA). Get a B or better
- VEE Economics
- VEE Accounting and Finance
- VEE Mathematical Statistics
- Taking SOA exams
- Exam Probability
- Exam Financial Mathematics
- Other exams (optional during university)
- Learning skill sets
- Programming/Data analysis
- Communication/Presentation
- Being professional
- Ability to handle challenges
- Applying for internship after pass 1st exam
- Applying for job after pass 2nd exam
Actuarial Program at SU
We are one of the only four universities in Maryland that are recognized by the SOA in the list of Universities and Colleges with Actuarial Programs (UCAP)
We offers courses that cover all three VEE categories.
- VEE Economics
- ECON 211 + ECON 212
- VEE Accounting/Finance
- ACCT 201 + FINA 440 + FINA 441
- VEE Mathematical Statistics
- MATH 414
We offers courses that prepare for SOA exams
- Exam Probability
- MATH 413
- Exam Financial Mathematics
- MATH 215
- Exam Statistics for Risk Modeling
- MATH 316 (MATH 314, 493)
- Exam Short/Long Term Actuarial Mathematics
- MATH 415
- Seminar for Exam Preparation
- MATH 385
- GEICO
- Pricewaterhouse Coopers
- Guardian Life
- Aon
- Center of Medicare and Medicaid Services
- US Department of Defense
- Ullico
- Maryland Auto
We offer one-to-one academic and career advising. You are more than welcome to visit your professors for any questions.
We provide training for being professional in your future career
- Professional data/statistics programming sills
- Excel+VBA, R, Java, Python, C++, and more
- Professional communication/presentation training via projects
- Internship/research/external Project opportunities
Our curriculum combines courses from MATH,COSC, ACCT, ECON, FINA, thus many degree combinations are available.
- Actuarial Major Track + Statistics Minor
- No additional courses needed (Take MATH 493 ELEC)
- Actuarial Major Track + Statistics Major Track
- Three more courses needed (Take MATH 493 ELEC)
- MATH 313, MATH 411, one of MATH 380/390/495
- Actuarial Major Track + Statistics Minor + Finance Minor
- Three more courses needed (Take MATH 493 ELEC)
- FINA 312, FINA 440, FINA 441
- Actuarial Major Track + Statistics Minor + Data Science Minor
- Two more courses needed (Take MATH 493 ELEC)
- COSC 120, COSC 311