Actuarial Mathematics and Quantitative Risk Master's Program
Program Overview
Actuarial Mathematics and Quantitative Risk Master's Program
Program Details
Degree
Master of Science
School
Charles V. Schaefer, Jr. School of Engineering and Science
Department
Mathematical Sciences
Available
On campus
Program Description
Actuarial science is projected to be one of the fastest-growing professions over the next decade. Ranked among the nation's top 10 programs by Great Business Schools, Stevens' actuarial mathematics and quantitative risk master's program will give you deeper expertise in fundamental concepts of actuarial science with an emphasis on mathematical methods and ensuing models to evaluate, manage and control actuarial risk.
The actuarial science and quantitative risk master's program introduces insurance strategies and their financial instruments through six core courses and four elective courses that will give students a strong background in probability and statistics, and create a path toward professional certifications. You'll collaborate with top-notch faculty who are recognized experts in the field and learn industry-standard software programs like R, SAS and MatLab.
The Stevens Advantage: Widen Your Career Options
To compete in today's career climate, graduates must adapt to rapidly-evolving technologies impacting all corners of the job market, like generative AI. At Stevens, you'll learn the in-demand skills you need to fill the talent gap. Our core curriculum – infused with AI electives and hands-on education opportunities – develops the deep expertise, critical thinking, interdisciplinary collaboration, and entrepreneurial savvy required to thrive in a technologically disrupted marketplace.
We're a 15-minute ride from the center of Manhattan—where many insurance companies, large banks and hospitals who are looking to hire actuarial talent have headquarters. Our location gives you a leg up on the competition when it comes to networking, internships and employment opportunities.
Program Admission Requirements
- Transcripts from post-secondary institutions attended
- Two letters of recommendation (academic or professional only)
- Statement of Purpose
- $60 non-refundable Application Fee
- Proof of English language proficiency
- GRE/GMAT test score(s) (Optional for Fall 2024, Spring 2025 and Fall 2025); applicants who believe their GRE/GMAT scores demonstrate potential for success in graduate program may elect to submit those scores.
Program Facts & Statistics
- $87,230 Salary: Compensation Across All Master's Graduates
- Class of 2023 School of Engineering and Science Average (Within 6 Months of Graduation)
- #1 in New Jersey: Best-value Colleges (PayScale, 2024)
- #36 in the U.S.: Best Colleges (The Wall Street Journal College Pulse, 2024)
- 98% Employed: Within 6 Months of Graduation (Class of 2023 School of Engineering and Science Average)
Related Programs
- Mathematics Master's Program
- Data Science Master's Program
- Applied Mathematics Master's Program
Career Opportunities
- Actuarial Analyst
- Actuarial Associate
- Actuarial Manager
- Actuary
- Risk Consultant
Faculty
- Yi Li: Researches partial differential equations with applications to fluid mechanics, biology and optical fiber communications, harmonic and nonlinear analysis, dynamical systems, and numerical analysis and computations.
- Xiaohu Li: Researches applied probability, mathematical statistics, dependence modeling, stochastic order, actuarial risk, and reliability.
- Darinka Dentcheva: Expert researcher in stochastic optimization and control using mathematical models of risk analysis and their applications in decision making under uncertainty.
- Michael Zabarankin: Researches risk management and optimal control, continuous and discrete optimization, mathematical physics and variational principles.
Stevens Institute of Technology
Overview:
Stevens Institute of Technology is a student-centric research university with a strong focus on technology. Located in Hoboken, New Jersey, Stevens offers a range of undergraduate and graduate programs across diverse fields, including technology, finance, medicine, energy, engineering, art, and music.
Services Offered:
Stevens provides a comprehensive range of services to its students, including:
Academic Resources:
Access to libraries, tutoring services, and academic advising.Student Support:
Counseling and psychological services, student health services, and disability services.Career Development:
Career center resources, internship opportunities, and job placement assistance.Student Life:
A vibrant campus experience with clubs, organizations, athletics, arts, and cultural events.Housing:
On-campus housing options for students.Student Life and Campus Experience:
Stevens offers a dynamic campus experience with a strong sense of community. Students can participate in a variety of clubs, organizations, and athletic teams. The campus is located across the river from New York City, providing easy access to the city's cultural and entertainment offerings.
Key Reasons to Study There:
Innovation and Technology Focus:
Stevens is known for its emphasis on innovation and technology, preparing students for careers in cutting-edge fields.Industry Connections:
Strong industry partnerships and internship opportunities provide students with valuable real-world experience.Location:
The campus's proximity to New York City offers students access to a wide range of career opportunities and cultural experiences.Return on Investment:
Stevens consistently ranks high in return on investment rankings, indicating the value of its education.Academic Programs:
Stevens offers a wide range of academic programs, including:
Undergraduate Study:
35 undergraduate majors across various disciplines.Graduate Study:
58 master's degree programs and 20 Ph.D. programs.Stevens Online:
Online degree programs for working professionals.Corporate Education:
Programs designed for professionals seeking to advance their careers.Other:
Stevens is committed to diversity, equity, and inclusion, and has a strong focus on sustainability. The university also has a rich history and a strong alumni network.