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What major would I have if I wanted to become an actuary and what universities would I want to go to for that career path?

I am interested in learning more about how to become an actuary because I am unsure of my future career path. #actuarial-science #actuarial

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Albert’s Answer

Terrific answer, Bob! I would also add that a lot of universities are now offering Actuarial Science majors rather than just Mathematics or Statistics majors. The Actuarial Science majors are typically very mathematics and statistics focused but will incorporate economics, business courses and computer science/programming courses.

I would highly recommend taking a statistics class or two if you have the option in high school. I personally never took a statistics class in high school or an intro class in college so my first required stats class was a graduate-level stats course. I wish I had taken an intro earlier to just set a strong foundation. Also, take as many math classes as you can. The degree and exams are very focused on high level mathematics.
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Bob’s Answer

Hi Brooke,


Thanks for asking about an actuary career path. I have been an actuary for over 30 years, and it has been a great career for me. In order to get started in the actuarial field, you will need to have a solid grounding in mathematics and statistics, at least an intermediate level. Many actuaries (including myself) have an undergraduate or advanced degree in one of these two subjects, while others have majored in a technical or business field such as finance or economics, but I should emphasize that a strong background in math and stats is essential in order to pass the actuarial examinations which are required to obtain professional designations with the Society of Actuaries or the Casualty Actuarial Society.


I would also say from experience that having some proficiency in computer languages such as Excel, VBA, Access, SAS, R, Python, etc. is extremely helpful in doing analytical work as an actuary.


A lot of useful information about the actuarial profession, including a list of universities that specifically offer an actuarial science program, can be found at www. beanactuary.org.


I hope this was helpful !


Bob Russell, ASA, MAAA
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Ryan’s Answer

The only thing I would add to what Bob and Albert said is that from my experience (graduating with my bachelor's degree and entering that actuarial career field 5 years ago) employers didn't seem to care much about what my major was but really cared about how many actuarial exams I had passed. Regardless of your major, if you can pass the first 2 or 3 exams, you clearly have a good grasp on essential quantitative fields and doing so shows your commitment to the career which makes you very attractive to employers (and it generally gets you a better starting salary)!
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