Program Overview
Actuarial Science Program
The Actuarial Science major at the University of NebraskaLincoln prepares students to manage risk and its financial consequences through strong analytical skills and knowledge in economics, finance, mathematics, and statistics. This major is offered in both the College of Business and the College of Arts and Sciences.
Colleges
- College of Arts and Sciences
- College of Business
Hours Required
120 credit hours
Minors Available
- Actuarial Science
The Nebraska Difference
The University of NebraskaLincoln has been selected as a Center for Actuarial Excellence and University-Earned Credit Program by the Society of Actuaries. Students can prepare to achieve professional designations from the Society of Actuaries or Casualty Actuarial Society. The program offers a strong community-based experience with high student and employer engagement, as well as free 1-to-1 tutoring, academic advising, and career coaching.
Two Pathways for Actuarial Science
Students can major or minor in Actuarial Science in either the College of Arts and Sciences or the College of Business. Each pathway prepares students for an actuarial career and offers the same required courses in calculus, statistics, and finance.
College of Arts and Sciences
This pathway provides flexibility to pair interests in the humanities, sciences, and social sciences with actuarial science. Students take 22 credit hours of actuarial science coursework and have the flexibility to take other classes to broaden their learning. Actuarial science majors in this college often also major in mathematics. Students receive 1-to-1 career coaching to ensure opportunities after graduation.
College of Business
This pathway includes 28 credit hours in actuarial science and core business courses, and requires Fundamentals of Computer Science. Students can count finance courses toward an additional finance major or minor. As a business student, students receive hands-on career development through the college's unique Professional Enhancement Program.
Program Features
Center for Actuarial Excellence and University-Earned Credit Program
Recognized as one of the best programs for actuarial science by the Society of Actuaries, the university offers high-quality education at a great value. The UEC Program enables students to earn credit for select SOA professional exams by attaining required scores in their coursework.
Financial Help for Professional Exams
The program prepares students to pass professional exams through VEE-approved coursework, and students are reimbursed for every exam they pass as a student. Several actuarial science scholarships are available thanks to industry partners.
Project-Based Learning
Students work through several "Problem Lab" courses integrating content from the Society of Actuaries exams. In their capstone course, students examine pricing for insurance, annuities, and pension plans for an employer.
Notable Courses
- Principles of Individual and Corporate Risk Management (FINA 338)
- Actuarial Applications of Applied Statistics (ACTS 430)
- Interest Theory (ACTS 440)
- Life Contingencies I (ACTS 470)
- Introduction to Property/Casualty Actuarial Science (ACTS 474)
- Actuarial Applications in Practice (ACTS 475)
Explore the 4-Year Plans
The university offers 4-year plans for both the College of Arts and Sciences and the College of Business.
Career Preparedness
Actuarial science majors regularly engage in industry internships locally and nationally, and many study abroad in locations like Brazil, China, England, and Italy. The faculty are well-connected to many employers, including Allstate, Ameritas, and Mutual of Omaha. Students take actuarial science courses that have been approved for the actuarial profession's Validation by Educational Experience (VEE) program.
Internships
Examples of internships include:
- Risk management intern, Maybank
- Financial analyst intern, Gallup
- Quantitative modeling intern, Pacific Life
- Property and casualty intern, Allstate
- Actuarial intern, Markel
- Actuarial intern, Willis Towers Watson
Careers
Examples of careers include:
- Senior actuarial assistant, Mutual of Omaha
- Actuarial analyst, Milliman
- Data governance analyst, Ameritas
- Sales and trading analyst, Citigroup
- Operational risk associate, Wells Fargo
Graduate Schools
Examples of graduate schools attended by alumni include:
- Master of Science in Business Analytics, Pepperdine University
- Master of Finance, Peking University
- Master of Professional Studies in Analytics, Northeastern University
- Ph.D., Mathematics, Kansas State University
- Master of Business Analytics, Massachusetts Institute of Technology
- Master of Business Administration, Columbia University
Outside the Classroom
Students can get involved in various activities, such as:
- Conducting research alongside faculty
- Competing in case competitions
- Working as a paid tutor
- Helping with a worldwide research ranking
Featured Faculty
The Actuarial Science Program Director is Sue Vagts, who teaches courses such as Insurance and Individual Risk Management, Theory of Interest, and Actuarial Applications in Practice. She has received the college's Excellence in Teaching Award and has worked in the insurance industry as a pricing and product development actuary.
Academics and Experiential Learning
Students do the work of an actuary through real-world examples and data, establishing prices of life insurance and analyzing funding for government programs. They tackle projects for employers in their capstone course and develop solutions to problems with teammates during case competitions.
Career Preparedness
Actuarial science majors engage in industry internships and study abroad, and the faculty are well-connected to many employers. Students take courses approved for the VEE program and are prepared for careers in actuarial science.
Community
Students connect with an upper-class mentor in their first year and can join the Actuarial Science Club, which helps coordinate the annual Actuarial Science Career Fair. They can also volunteer as a math tutor in local low-income schools.