Program Overview
Actuarial Science Major
The Actuarial Science major at the University of NebraskaLincoln prepares students to be key players in companies dealing with risk, including insurance companies, hospitals, banks, and more. This major is offered in 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 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
The pathway in the College of Arts and Sciences 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 and receive 1-to-1 career coaching.
College of Business
The pathway in the College of Business 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, they receive hands-on career development through the college's unique Professional Enhancement Program.
Program Features
Center for Actuarial Excellence and University-Earned Credit Program
The program is recognized as one of the best for Actuarial Science by the Society of Actuaries, offering high-quality education at a great value. The University-Earned Credit 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 they 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. They tackle a project for an employer in their capstone course, examining pricing for insurance, annuities, and pension plans.
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 College of Arts and Sciences and the College of Business offer different 4-year plans for the Actuarial Science major.
Huskers Do Big Things
Career coaches in the College of Business and College of Arts and Sciences support students' career development, including help with resumes, applications, and interviewing. The Actuarial Science major is a STEM-designated program, which supports international students in obtaining a two-year OPT extension to gain work experience in the U.S.
Internships
Students have held internships at companies such as:
- Maybank
- Gallup
- Pacific Life
- Allstate
- Markel
- Willis Towers Watson
Careers
Graduates have gone on to work as:
- 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
Graduates have gone on to attend graduate schools such as:
- 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 opportunities, 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 & 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 a project for an employer in their capstone course and develop a solution to a problem with teammates during case competitions.
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.
Community
Students connect with an upper-class mentor in their first year as an Actuarial Science major. The Actuarial Science Club is an active student organization that helps coordinate the annual Actuarial Science Career Fair. Students can volunteer as a math tutor in local low-income schools.