Actuarial Science Concentration

Prepare to Become an Actuary

What is the likelihood of landing a rewarding job as an actuary? The odds are in your favor with a Bachelor of Science in Mathematical Sciences, and a concentration in actuarial sciences.

With your aptitude for math and an interest in finance or business, you are well-suited to a career consistently ranked among the top ten jobs in the United States, based on environment, income, employment outlook, physical demands, security, and stress. Actuary is #9 of the 100 Best Jobs according to US News and World Report, and Actuary ranks as the #2 highest paying job according to Indeed.

What is an Actuary?

Actuaries use mathematics and statistics to evaluate probabilities and to manage the risks associated with possible scenarios. They are instrumental in helping companies and individuals maintain sound finances.

Employment opportunities for actuaries exist throughout the financial services sector of the economy, especially in the insurance industry, but also in commercial and investment banking, retirement-fund management, and more. Many actuaries act as consultants to large corporations.

Other actuaries are consultants, helping with benefits and business decisions, both for small businesses and large corporations. 

Being an Actuary

The leading professional organization for the actuarial profession is the Society of Actuaries. (SOA). Actuaries earn recognition as Associates of the Society of Actuaries (ASA) and Fellows of the Society of Actuaries (FSA) by passing a series of exams and completing other requirements, including Validation by Educational Experience (VEE) coursework. Get career advice on becoming an actuary.

Tomorrow Needs Actuaries

As financial risks grow ever larger and the frequency of adverse events accelerates, so does the need for talented actuaries with a strong foundation in mathematics, statistics, accounting, finance, and economics. A concentration in actuarial science is a pathway to a challenging, successful, and rewarding career.

Career Opportunities

Your future career options are diverse with a degree in mathematics with a concentration in actuarial sciences. Career opportunities include:

  • Accountant
  • Actuary (Auto, Commercial, Life, Health, and Homeowners Insurance)
  • Benefits Analyst
  • Budget Analyst
  • Business Analyst
  • Consultant
  • Credit Analyst
  • Data Scientist
  • Financial Advisor
  • Financial Planner
  • Investment Analyst
  • Risk Analyst
  • Risk Management Specialist
  • Tax Preparer
  • Underwriter

Get Hired By

These are just some of the companies hiring Michigan Tech mathematics majors with an actuarial sciences concentration:

  • Auto-Owners Insurance
  • Blue Cross Blue Shield of Michigan
  • Credit Acceptance Corporation
  • Epic
  • Healthcare Services Corporation
  • Milliman
  • Willis Towers Watson

Prepare for Actuarial Certification

A key part of the actuarial profession is the certification process administered by the SOA, consisting of passing a series of rigorous examinations and projects. At Michigan Tech, the curriculum:

  • Prepares you for the first two actuarial exams (P and FM);
  • Gives you a good start in preparing for later exams, when combined with advanced course work;
  • Fulfills VEE requirements.

Students can and should pass the P and FM exams during their undergraduate study. Because actuaries are in great demand, passing these exams and completing an actuarial internship places you in a very competitive position to get a job.

Thanks to your course of study at Michigan Tech, you’ll be prepared to pass the first two exams while still in school and graduate well-prepared for later exams and all aspects of the actuarial credentialing process.

Earning VEE Credits at Michigan Tech

Three SOA requirements are met through VEE credit, which students earn by passing these courses with a grade of BC or better.


EC 2001 is taken by students fulfilling the concentration requirements. 

Accounting and Finance:

These courses are taken by students fulfilling the concentration requirements.


MA 4760 is not a VEE course, but required prerequisite for MA 4770.

To fulfill this requirement, students should take MA 4760 as a concentration elective (see "Choose one of the following" under the concentration requirements on the degree audit) and MA 4770 as a free elective.

Ready to take the next step?

Learn more about studying Actuarial Science at Michigan's flagship technological university.

"I am working at Auto-Owners Insurance where my role is to predict the frequency and severity of insurance claims using data and statistical models.  I also do a fair bit of programming to automate some of our processes."Alan Bouwman ‘22, BS Mathematics (Actuarial Sciences Concentration)

Study Actuarial Sciences at a Technological University

As a student, you get to see first-hand how math and statistics are applied in actuarial science; helping to solve real-world problems. You’ll be prepared to take your Society of Actuaries exams.

  • Get a head start on your actuarial certification: Prepares you for the first two actuarial exams (P and FM) and advanced course work will start your preparation for later exams.
  • Get personalized attention: Our smaller department ensures your academic advisors and professors know you and understand your interests and needs. You can receive the guidance you need in a timely fashion.
  • Customize your math education: Take classes across different specialties to tailor your degree to fit your pathway. Pair your actuarial science concentration with popular College of Business minorslike business, economics, and fintech.

Undergraduate Concentrations in Mathematics

Not sure which concentration is the right fit? No problem.
Speak to an academic advisor.

Undergraduate Advising

A positive and productive advising relationship is a key component of your success at Michigan Tech. You and your academic advisor will develop your academic plan, and your advisor will help you follow and complete your plan to ensure your success at Michigan Tech.

Tomorrow Needs You

Mathematicians trained as actuaries do many things, but there's one thing you’ll do first and foremost: help manage risk. As the world becomes more complex and data sources and databases continue to expand, you’ll be able to use your analytical, problem-solving, and technical skills to help others make sound financial decisions. Become an actuarial professional who is ready for what tomorrow needs.

"I really appreciated that my classes were small so I could get focused attention from the professor."Alan Bouwman ‘22, BS Mathematics (Actuarial Sciences Concentration)