Program Overview
Actuarial Science Program
The interdisciplinary Bachelor of Science in Actuarial Science from the University of Missouri-St. Louis equips students with the in-depth knowledge and quantitative skills to pursue a rewarding actuarial science career. Integrating coursework from both the College of Arts & Sciences and the College of Business Administration, our actuarial science degree prepares students for challenging actuary jobs that offer high earning potential and strong job security.
Program Description
To become an actuary, students must meet specific requirements of the Society of Actuaries (SOA), including passing the SOA exams and requirements, fulfilling validated educational experience courses, and undertaking additional SOA professional training. Our actuarial science degree combines study in calculus, financial mathematics, statistics, economics, econometrics, accounting, and finance, providing the foundation needed to meet these requirements.
What Does an Actuary Do?
Actuaries use the tools of economics, finance, and mathematics to evaluate and price risk. They play crucial roles in the insurance, pension, and finance industries by predicting future events and their financial implications, including:
- Accidents
- Illness
- Life expectancy
- Natural disasters An actuary also determines insurance premiums, plans pension and retirement, and ensures regulatory compliance.
Program Type and Format
- Program type: Major, BS
- Format: On-Campus
Why Earn Your Actuarial Science Degree at UMSL?
Our actuarial science degree program provides the critical foundation in mathematics, statistics, and finance needed for the rigorous SOA actuarial exams or other financial careers.
- Affordability: We offer affordable tuition and have a strong track record of job placement, making our program a good investment. The Stanley and Terry Freerks Endowed Scholarship in Actuarial Science scholarship and Central States Actuarial Forum's student scholarship can further cut costs.
- Internship opportunities: Our actuarial science degree emphasizes hands-on learning through internships with leading firms in the insurance and finance industries. This real-world exposure enhances employability and helps students build a strong professional network.
- Location: St. Louis is a hub for the insurance and finance industries, placing students close to many actuarial science career opportunities upon graduation.
Career Opportunities
Many of our actuarial science program graduates are employed by insurance companies, pension funds, consulting firms, and various financial institutions. According to the Bureau of Labor Statistics, the job outlook for actuaries is positive, growing much faster than the average compared to other careers. Actuary salaries are also high, averaging $120,000 per year. Career paths include:
- Actuarial Consultant
- Actuary
- Compensation/Benefits Administrator
- Financial Advisor
- Financial Analyst
- Financial Manager
- Information Analyst
- Insurance Underwriter
- Investment Analyst
- Risk Analyst
Degree Information
- Median annual salary: $120,000
- Employment growth by 2033: 22%
Plan of Study
All majors must meet the general education requirements of the university in addition to completing degree-specific curriculum requirements.
Student Organizations and Involvement
Our Recognized Student Organizations are a great way to learn new skills and make friends in the actuarial science program and across campus.
- Honors College: The UMSL Honors College is a certificate program that can be paired with any major without adding extra classes or extending time to graduate.
- Undergraduate research: We encourage and support students as they engage in exciting activities in and outside of the classroom that enrich their academic and professional understanding of their chosen area of study.
Related Majors
Explore more degree options:
- Accounting
- Economics
- Finance
- Mathematics
- Fiscal Mathematics