Actuarial Science
Career Overview
Actuarial Science has been rated as the No. 1 career path in the nation by The Wall Street Journal. The Actuarial Science major at Smeal prepares students for careers in insurance, consulting, finance, and government agencies that demand quantitative and qualitative skills. This major is also a STEM Designated Degree Program.
Actuaries are vital to the insurance industry, calculating the costs of life or health insurance, or how much an insurance company can expect to pay in claims due to natural disasters, car accidents, and other situations.
Employment Prospects
Smeal Actuarial Science students are highly sought by industry and government for internships and full-time jobs. Due to the size of the Smeal Actuarial Science program, Penn State hosts one of the largest actuarial career fair in the country with more than 30 companies attending each year.
| Top Internship Companies at Penn State for ACTSC | Top Full-Time Companies at Penn State for ACTSC |
|---|---|
| Cigna | AON Hewitt |
| Highmark | Deloitte |
| Prudential | Prudential |
| PwC | Transamerica |
| Transamerica | Willis Towers Watson |
Average Stating Salary: $75,000
Average Signing Bonus: $6,000
Average Internship Wage: $24/hour
Major Overview
The Actuarial Science major provides background in the wide range of knowledge needed to be an actuary including calculus, probability and statistics, financial and actuarial mathematics, economics, finance, risk management, pensions, and insurance. Math is a critical part of this major.
Smeal offers the courses needed to satisfy the professional Verification by Education Experience (VEE) requirement and courses designed to help you pass five of the preliminary professional examinations in the Society of Actuaries (SOA) or Casualty Actuarial Society (CAS), which one needs to be an actuary. Employers often provide support to help students pass the remaining exams after graduation.
More Information
Watch an informational presentation by Steven Putterman for the 2020 Spend A Summer Day
View our handout with information on the Actuarial Science major
You can find more information on the Actuarial Science major and what courses are required on the Undergraduate Education page.
You can also contact one of the three Actuarial Science faculty advisers with questions:
| Mandy Hammell | Zhongyi Yuan | Nan Zhu |
|---|---|---|
|
Professor of Practice 814-865-4153 |
Associate Professor 814-865-6211 |
Assistant Professor 814-863-8666 |
Additionally, the Actuarial Science Club's website has helpful information for students.