by our College Data Analytics TeamStudying Actuarial Science involves the study of Actuarial Science. A Program That Focuses On The Mathematical And Statistical Analysis Of Risk, And Their Applications To Insurance And Other Business Management Problems. Includes Instruction In Forecasting Theory, Quantitative And Non-Quantitative Risk Measurement Methodologies, Development Of Risk Tables, Secondary Data Analysis, And Computer-Assisted Research Methods. Continue reading for the essential details every actuarial science major should know — including career paths, salary data, the skills you will develop, and the best colleges offering actuarial science programs.
In the U.S., actuarial science draws strong interest, with 1,363 degrees awarded annually.
Our 2026 Best Actuarial Science Schools ranking analyzes these 123 schools to determine the best overall colleges for actuarial science students. Continue reading to check out one of our many unbiased rankings of actuarial science programs later in this article.
Coursework for Actuarial Science emphasize a specific mix of skills, knowledge, and abilities — derived from O*NET surveys of workers in the occupations actuarial science graduates commonly enter.
The skill set emphasized by a actuarial science program reflects the day-to-day work of related occupations:
Per O*NET surveys, a actuarial science major emphasizes the following knowledge areas:
There are several actuarial science degree levels. The table below shows the typical length of the most common levels, and how many graduates earn each one.
| Degree | Typical Program Length | Graduates Annually |
|---|---|---|
| Certificate | Varies | 1 |
| Bachelor’s Degree | 4 years | 1,082 |
| Master’s Degree | 1-3 years | 280 |
People currently working in careers related to actuarial science tend to have obtained the following education levels.
| Level of Education | Percentage of Workers |
|---|---|
| Bachelor’s degree | 50.6% |
| Doctoral degree | 26.7% |
| Master’s degree | 7.5% |
| Post-baccalaureate certificate | 6.0% |
| First professional degree | 5.6% |
| High school diploma or equivalent | 1.3% |
| Associate’s degree (or other 2-year) | 1.3% |
| Some college courses | 0.9% |
| Post-master’s certificate | 0.1% |
View the chart below to get an idea of what level of education most of those in actuarial science careers hold.
Source: ONET Online education / training / experience requirements.*
Majoring in actuarial science can lead to a variety of career paths. These are some of the most common occupations related to actuarial science.
The following options are some of the most in-demand careers related to actuarial science.
| Occupation | Projected Jobs | Expected Growth |
|---|---|---|
| Financial Risk Specialists | 684,551 | -3.8% |
| Actuaries | 216,689 | -3.6% |
| Business Teachers, Postsecondary | 181,317 | 10.6% |
| Insurance Underwriters | 55,479 | -3.6% |
The U.S. Department of Education tracks median earnings of actuarial science graduates 1, 4, and 5 years after completion. Earnings tend to climb as graduates gain experience.
| Years Out | Median Earnings |
|---|---|
| 1 year | $88,001 |
| 4 years | $83,500 |
| 5 years | $95,189 |
Source: U.S. Department of Education College Scorecard, field-of-study earnings tracker.
Salaries for actuarial science graduates vary widely by occupation. The following table shows the top highest-paying careers actuarial science grads often go into.
| Occupation | Median Annual Salary |
|---|---|
| Insurance Underwriters | $129,939 |
| Financial Risk Specialists | $127,364 |
| Business Teachers, Postsecondary | $80,576 |
| Actuaries | $69,100 |
With 123 different actuarial science programs to choose from, finding the best fit can be a challenge. We have analyzed these schools to produce unbiased actuarial science school rankings to help you.
Students interested in actuarial science, you may also want to explore other closely related fields of study within the same broad area.
| Related Major | Annual Graduates |
|---|---|
| Management Science | 34,245 |
| Management Sciences and Quantitative Methods, Other | 21,232 |
| Business Statistics | 5,396 |
More about our data sources and methodologies.
