Do
you have a love for statistics? Do you want to predict the financial future of a company using that love for math? Look no further than a degree in actuarial science! Put your love of math and statistics to use by pursuing an actuarial science degree and setting yourself up for a fulfilling professional life. Today, we’re going to be diving into some of the best colleges from all over the United States to get a degree in actuarial science.
What is Actuarial Science?
Actuarial science is a very specific type of field, so what is it? Well, to put it simply, actuarial science is the use of math and statistics to assess financial risk. Think of yourself as a fortune teller with a crystal ball, except your crystal ball is math and statistics. Simple enough, right? So what can you do with this kind of degree?
Here are a few different professions that an actuarial science degree can lead to:
- Financial Analyst
- Personal Financial Advisors
- Risk management
- Economist
- Mathematician
But of course, there are so many other professions and fields this degree can be used in, so don’t limit yourself! If you feel you’d be better suited for something other than the jobs in this list, go for it. However, if you’re still not sold on the idea of an actuarial science degree, let’s look into the reasons why you should pursue it!
Why Choose Actuarial Science?
Actuarial science is pretty similar to accounting. So what’s the difference? Accounting deals more with current financial risks, but actuarial science is more about the future. And because they're so similar, actuarial science also reaps the benefits of accounting. In these positions, you get the benefits of job security, diverse career paths, competitive salaries, and global career opportunities. With these benefits, what’s not to love!
The Best Schools for Actuarial Science
Now you know what actuarial science is, what professions you can go into, and why you should pursue a degree in it. These five schools have some great business programs and top-notch post graduation statistics, so let's look into the best colleges for actuarial science!
The University of Pennsylvania
The University of Pennsylvania has one of the best programs for actuarial science. Granted, it is really hard to get into, having an acceptance rate of only 7%. However, if you are able to make it into the school and get your degree, you’re almost guaranteed a job after graduation. In 2022, 75% of grads were able to get a job six months after graduating. Finance majors had the highest percentage of post-graduate jobs, sitting pretty at 30%. So not only will you get an ivy league education, but you’ll get a high paying job straight out of college! What’s not to love about that? These perks are exactly why the University of Pennsylvania is one of the best colleges for actuarial science.
New York University
New York University is another great option for finance and actuarial science. Stern, their business school, has a great reputation, often ranking as one of the best business programs in the U.S. NYU is another program that almost guarantees graduates a job within six months of graduation. In 2023, 94% of 2023 grads landed a job or made it into a graduate program six months after graduating. With a reputation like that, NYU is easily one of the best colleges for actuarial science.
University of Texas - Austin
The University of Texas in Austin has some of the best finance, economics, and math programs out there. The McCombs School of Business has a particularly strong accounting and marketing program. In recent years, over half of graduating students find a job or get into a graduate program. The cherry on top is the gorgeous campus, and the overwhelmingly positive reactions from students and alumni. Majoring in actuarial science at the University of Texas in Austin is a sure-fire way to pursue your dream job and love every second!
Carnegie Mellon University
Carnegie Mellon University (CMU) is best known for its Computer Science and Engineering programs, but don’t write it off just yet! CMU actually has a pretty good business school, ranking 7th out of over 1,000 schools across the United States. It is a little harder to get into (11% acceptance rate), but if you do get in, the campus is gorgeous, and their STEM programs are really top notch. Plus, they have a really high graduation rate, with 93% of students graduating on time. Carnegie Mellon is truly one of the best colleges for actuarial science.
University of California - Berkeley
Finally, to cap off our lists of the best colleges for actuarial science, we have UC Berkeley. The school has one of the longest histories of business schools in the country, and nine members of their faculty have won Nobel Prizes. Aside from that incredible feat, their business school (Berkeley Haas) is focused on the future of business and investment banking. It ranks 15th out of over 1,000 schools in America for business. The student body is motivated and hard-working, the campus is jaw-droppingly beautiful, and who wouldn’t want to go to college in California?
That does it for our list of the best colleges for actuarial science!
These five schools are the top dogs in actuarial science! No matter where you live in the United States, there's a school that’s perfect for you. Whether you’re looking for a job straight out of college or an innovative and trail-blazing education, you’re bound to find something you love on this list. So what are you waiting for? Get touring and start applying today!
