Bachelor of Science
Actuarial Science
Oakland University’s actuarial science degree equips you to analyze risk—and reap big career rewards.
What is an actuary? In general, actuaries help organizations manage risk. But what an actuary does at an insurance company differs from what actuaries do at a commercial bank. Here are some things actuaries do in almost every industry: They earn high incomes, perform rewarding work, have a rare combination of skills and enjoy exceptional job security. The average actuary salary in the United States surpasses $100,000. If you’re good at math and have an analytical mind, Oakland University’s actuarial science degree might be the ideal fit for you.
What is an actuary? In general, actuaries help organizations manage risk. But what an actuary does at an insurance company differs from what actuaries do at a commercial bank. Here are some things actuaries do in almost every industry: They earn high incomes, perform rewarding work, have a rare combination of skills and enjoy exceptional job security. The average actuary salary in the United States surpasses $100,000. If you’re good at math and have an analytical mind, Oakland University’s actuarial science degree might be the ideal fit for you.
Actuarial Science Degree: The Oakland University Advantage
Our actuarial science degree provides direct, hands-on experience to help you get your actuarial career off to a fast start. In addition to building proficiency with big data, you’ll get the chance to exhibit the critical reasoning and strategic analysis that employers are looking for. And Southeast Michigan’s diversified economy presents a broad range of actuarial career pathways in health care, insurance, finance, government and many other industries.
An actuarial science degree from Oakland University equips you with:
- Real-life experience. The actuarial science program includes robust internship opportunities, which range from in-semester work opportunities to paid summer employment. In addition, actuarial science majors can participate in Oakland University’s Student Managed Investment Fund, supervising a $2 million portfolio with holdings in stocks, bonds, real estate, commodities and other financial assets.
- An industry-aligned education. Most faculty members have years of experience in actuarial science. They teach from an informed perspective that combines deep theoretical knowledge with applied expertise. Many are involved in professional practice. Because of their strong industry connections, our faculty ensure that you gain the skills and expertise that employers are seeking.
- A big-picture orientation. Our actuarial sciences degree equips you with a broad understanding of business, which greatly enhances your marketability. You’ll understand actuarial operations at a strategic level, with the ability to contribute to high-level decision-making and, over time, advance into leadership roles.
- A degree that employers respect. Our School of Business Administration has appeared on numerous best-of lists, earning acclaim from US News & World Report, CEO Magazine, Princeton Review, Payscale.com and other publications. Recruiters and HR personnel recognize an Oakland University actuarial science degree as a mark of quality.
- Rigorous academics. We hold a distinction that’s shared by fewer than 1 percent of the world’s business schools—dual accreditation (in business and accounting) from the Association to Advance Collegiate Schools of Business (AACSB).
What can you do with an actuarial science degree?
Actuarial Science Careers
Actuaries are usually in high demand, due to the lack of qualified candidates. That’s one reason actuary salaries average $110,000 nationally, making this one of the highest-earning professions. Employers aggressively recruit our students — 95 percent of our 2017 business school seniors were employed or in graduate school within the first year of completing their degrees. Our actuarial science degree includes a three-course sequence to polish your skills in resume writing, interviewing, conducting a job search and more. You’ll present yourself with a professional air, making a strong impression in the job market.
Our actuarial science program qualifies you for a wide range of careers in actuary science, including:
- Risk evaluation and management
- Business forecasting
- Insurance underwriting
- Consulting
- Financial services
- Banking
- Retirement fund management
Actuarial Science: What You’ll Study
An interdisciplinary program offered jointly by the Math and Economics departments, our actuarial science degree integrates coursework from economics, business, data technology and other fields. You can personalize your actuarial science major with electives from the College of Arts and Sciences or the School of Business Administration.
The actuarial science major includes required courses in:
- Calculus
- Probability
- Statistics
- Economics
- Financial accounting
- Investment analysis
- Business analytics
- Information and data management
- Business writing