Best institutions to study Actuarial Science
A program that focuses on the mathematical and statistical analysis of risk, and their applications to insurance and other business management problems.
122 U.S. institutions graduated 1,289 Actuarial Science students in 2024–25 (IPEDS). It is CIP 52.1304, a specialization of Management Sciences and Quantitative Methods (CIP 52.13), and leads most directly to the Actuaries occupation (BLS SOC 15-2011).
About Actuarial Science programs
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.
Source: National Center for Education Statistics, Classification of Instructional Programs (CIP 2020).
The Actuarial Science program, part of Management Sciences and Quantitative Methods, focuses on the mathematical and statistical analysis of risk and its applications in insurance and business management. This program is ideal for students interested in understanding and managing financial uncertainties in various business contexts.
Students will develop essential skills in mathematics, critical thinking, and data analysis. Coursework includes forecasting theory, risk measurement methodologies, and computer-assisted research methods, preparing them for real-world applications in risk assessment and management.
Credentials awarded
What Actuarial Science graduates earned in 2024–25, by award level (IPEDS completions).
- Bachelor's degree994 graduates / yr · 109 institutions77%
- Master's degree242 graduates / yr · 20 institutions19%
- Award of at least 12 weeks but less than 1 academic year39 graduates / yr · 3 institutions3.0%
- Postbaccalaureate certificate13 graduates / yr · 6 institutions1.0%
- Award of at least 1 but less than 2 academic years1 graduates / yr · 1 institution0.1%
Graduates over time
Actuarial Science completions reported to IPEDS each year, all award levels combined.
| Year | Graduates |
|---|---|
| 2012 | 1,272 |
| 2013 | 1,354 |
| 2014 | 1,479 |
| 2015 | 1,526 |
| 2016 | 1,729 |
| 2017 | 1,898 |
| 2018 | 2,049 |
| 2019 | 2,033 |
| 2020 | 2,004 |
| 2021 | 2,109 |
| 2022 | 1,953 |
| 2023 | 1,632 |
| 2024 | 1,303 |
| 2025 | 1,289 |
Top 50 institutions for Actuarial Science, ranked by graduates
Graduates (IPEDS completions), 2024–25. Award levels show which credentials each institution confers in this specialization.
| # | Institution | Graduates / yr | Grad rate | Net price | Field earnings* (1 yr) |
|---|---|---|---|---|---|
| 1 | University of California - Los Angeles Los Angeles, CAPublicMaster's | 92 | 93% | — | — |
| 2 | Purdue University - Main Campus West Lafayette, INPublicBachelor's | 79 | 83% | — | $70,903 |
| 3 | University of Illinois Urbana - Champaign Champaign, ILPublicBachelor'sMaster's | 71 | 85% | — | $72,527 |
| 4 | University of Connecticut Storrs, CTPublicBachelor's | 52 | 83% | — | $71,600 |
| 5 | Florida State University Tallahassee, FLPublicBachelor's | 44 | 86% | — | $62,578 |
| 6 | Georgia State University Atlanta, GAPublicMaster'sBachelor'sPost-degree cert. | 39 | 53% | — | $55,596 |
| 7 | University of California - Santa Barbara Santa Barbara, CAPublicBachelor'sMaster's | 38 | 83% | — | $66,099 |
| 8 | Columbia University in the City of New York New York, NYPrivate not-for-profitMaster's | 38 | 96% | $15,315 | — |
| 9 | University of Georgia Athens, GAPublicAward of at least 12 weeks but less than 1 academic year | 37 | 90% | — | $62,951 |
| 10 | Pennsylvania State University - Main Campus University Park, PAPublicBachelor's | 37 | 86% | — | $58,140 |
| 11 | University of Nebraska - Lincoln Lincoln, NEPublicBachelor'sMaster's | 35 | 67% | — | $75,137 |
| 12 | Ohio State University - Main Campus Columbus, OHPublicBachelor'sMaster's | 35 | 88% | — | $68,814 |
| 13 | University of Wisconsin - Madison Madison, WIPublicBachelor'sPost-degree cert. | 31 | 90% | — | $83,260 |
| 14 | Drake University Des Moines, IAPrivate not-for-profitBachelor's | 29 | 74% | $28,855 | $80,044 |
| 15 | CUNY Bernard M Baruch College New York, NYPublicBachelor's | 28 | 72% | — | $62,306 |
| 16 | University of St Thomas Saint Paul, MNPrivate not-for-profitBachelor's | 25 | 76% | $28,888 | $78,978 |
| 17 | Temple University Philadelphia, PAPublicBachelor'sMaster's | 24 | 75% | — | $74,778 |
| 18 | Brigham Young University Provo, UTPrivate not-for-profitBachelor's | 22 | 81% | $13,712 | $79,777 |
| 19 | University of Wisconsin - Eau Claire Eau Claire, WIPublicBachelor's | 22 | 64% | — | — |
| 20 | Michigan State University East Lansing, MIPublicBachelor's | 21 | 81% | — | $69,443 |
| 21 | The University of Texas at Dallas Richardson, TXPublicBachelor'sMaster's | 21 | 76% | — | $61,303 |
| 22 | St. John's University - New York Queens, NYPrivate not-for-profitBachelor'sMaster's | 19 | 66% | $27,359 | $82,432 |
| 23 | Arizona State University Campus Immersion Tempe, AZPublicBachelor'sMaster's | 17 | 68% | — | $68,079 |
| 24 | University of Central Florida Orlando, FLPublicBachelor's | 17 | 78% | — | — |
| 25 | Boston University Boston, MAPrivate not-for-profitMaster's | 17 | 89% | $21,956 | — |
| 26 | Lebanon Valley College Annville, PAPrivate not-for-profitBachelor's | 16 | 65% | $24,925 | $73,497 |
| 27 | Milwaukee School of Engineering Milwaukee, WIPrivate not-for-profitBachelor's | 15 | 67% | $20,167 | — |
| 28 | Appalachian State University Boone, NCPublicBachelor's | 14 | 75% | — | $56,340 |
| 29 | Maryville University of Saint Louis Saint Louis, MOPrivate not-for-profitBachelor'sMaster's | 13 | 66% | $24,921 | $69,590 |
| 30 | University of Wisconsin - Milwaukee Milwaukee, WIPublicBachelor's | 13 | 49% | — | — |
| 31 | Iowa State University Ames, IAPublicBachelor'sPost-degree cert. | 12 | 75% | — | — |
| 32 | Butler University Indianapolis, INPrivate not-for-profitBachelor's | 10 | 80% | $35,696 | — |
| 33 | Middle Tennessee State University Murfreesboro, TNPublicBachelor's | 10 | 54% | — | — |
| 34 | DePaul University Chicago, ILPrivate not-for-profitBachelor's | 9 | 68% | $28,141 | $51,522 |
| 35 | Oakland University Rochester Hills, MIPublicBachelor's | 9 | 58% | — | $69,446 |
| 36 | Siena University Loudonville, NYPrivate not-for-profitBachelor's | 9 | 75% | $30,138 | $54,855 |
| 37 | University at Albany Albany, NYPublicBachelor's | 9 | 61% | — | — |
| 38 | Robert Morris University Moon Township, PAPrivate not-for-profitBachelor's | 8 | 66% | $24,175 | — |
| 39 | Saint Joseph's University - Philadelphia Philadelphia, PAPrivate not-for-profitBachelor's | 8 | 79% | $34,418 | $65,627 |
| 40 | Texas Christian University Fort Worth, TXPrivate not-for-profitBachelor's | 8 | 86% | $25,823 | — |
| 41 | University of Delaware Newark, DEPublicBachelor's | 7 | 81% | — | $73,420 |
| 42 | DePauw University Greencastle, INPrivate not-for-profitBachelor's | 7 | 75% | $20,874 | — |
| 43 | Trine University Angola, INPrivate not-for-profitBachelor's | 7 | 64% | $22,269 | — |
| 44 | Western New England University Springfield, MAPrivate not-for-profitBachelor's | 7 | 64% | $29,327 | — |
| 45 | The University of Tampa Tampa, FLPrivate not-for-profitBachelor's | 6 | 64% | $33,070 | — |
| 46 | Ball State University Muncie, INPublicBachelor'sMaster's | 6 | 62% | — | $67,350 |
| 47 | Northwestern College Orange City, IAPrivate not-for-profitBachelor's | 6 | 66% | $22,419 | — |
| 48 | Bentley University Waltham, MAPrivate not-for-profitBachelor's | 6 | 87% | $31,677 | $81,103 |
| 49 | Central Michigan University Mount Pleasant, MIPublicBachelor's | 6 | 59% | — | $66,149 |
| 50 | University of Central Oklahoma Edmond, OKPublicBachelor's | 6 | 37% | — | — |
* Median earnings 1 year after graduation for the broader Management Sciences and Quantitative Methods field (CIP 52.13) at these institutions; College Scorecard does not publish earnings at the 6-digit level.
Offered in 33 states
Where Actuarial Science graduates come from. Each state links to all Management Sciences and Quantitative Methods programs offered there.
Careers & outlook
The payoff after graduation: occupation 15-2011, Actuaries, and its national outlook.
Graduates of the Actuarial Science program can pursue careers as actuaries, insurance underwriters, and financial risk specialists. With a projected job growth of 21.8% and approximately 2,400 annual openings, this field offers a median wage of $125,770, typically requiring a Bachelor's degree.
Top-paying metros
Career pathways for CIP 52.1304
The occupations the NCES crosswalk maps this 6-digit code to, with BLS pay and 10-year outlook.
| Occupation | US median pay | Growth | Openings / yr | Typical entry education |
|---|---|---|---|---|
Actuariesprimary SOC 15-2011 | $130,000 | +21.8% Much faster than average | ~2,400 | Bachelor's degree |
Insurance Underwriters SOC 13-2053 | $81,370 | -2.6% Decline | ~8,200 | Bachelor's degree |
Business Teachers, Postsecondary SOC 25-1011 | $99,080 | +5.7% Faster than average | ~8,100 | Doctoral or professional degree |
Financial Risk Specialists SOC 13-2054 | $117,330 | +6.5% Faster than average | ~4,800 | Bachelor's degree |
Job Zone Four: Considerable Preparation Needed
- Education
- Most of these occupations require a four-year bachelor's degree, but some do not.
- Experience
- A considerable amount of work-related skill, knowledge, or experience is needed for these occupations. For example, an accountant must complete four years of college and work for several years in accounting to be considered qualified.
- Training
- Employees in these occupations usually need several years of work-related experience, on-the-job training, and/or vocational training.
Related careers
Skills & knowledge in Actuarial Science programs
From the U.S. Dept. of Labor for the occupation this specialization most leads to.
Skills you'll build
Knowledge areas
Abilities that matter most
Day-to-day work activities
What graduates do on the job
- Ascertain premium rates required and cash reserves and liabilities necessary to ensure payment of future benefits.
- Collaborate with programmers, underwriters, accounts, claims experts, and senior management to help companies develop plans for new lines of business or improvements to existing business.
- Analyze statistical information to estimate mortality, accident, sickness, disability, and retirement rates.
- Design, review, and help administer insurance, annuity and pension plans, determining financial soundness and calculating premiums.
- Determine, or help determine, company policy, and explain complex technical matters to company executives, government officials, shareholders, policyholders, or the public.
- Construct probability tables for events such as fires, natural disasters, and unemployment, based on analysis of statistical data and other pertinent information.
Tools and technology used
Other Management Sciences and Quantitative Methods specializations
The 3 other 6-digit CIP codes under Management Sciences and Quantitative Methods (CIP 52.13).
Common questions
What is Actuarial Science?+
Actuarial Science focuses on the mathematical and statistical analysis of risk, particularly in insurance and business management.
What skills will I gain?+
You will develop skills in mathematics, critical thinking, data analysis, and effective communication.
What careers can I pursue?+
You can work as an actuary, insurance underwriter, or financial risk specialist, among other roles.
What is the job outlook for this field?+
The job outlook is much faster than average, with a growth rate of 21.8% and about 2,400 annual job openings.
What is the CIP code for Actuarial Science?+
Actuarial Science is CIP 52.1304 in the NCES Classification of Instructional Programs (CIP 2020), a 6-digit specialization within Management Sciences and Quantitative Methods (CIP 52.13). NCES defines it as: 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.
How many institutions offer Actuarial Science programs?+
122 U.S. institutions reported Actuarial Science graduates in IPEDS 2024–25, across 33 states, awarding 1,289 credentials in the year. That is 1.9% of all Management Sciences and Quantitative Methods graduates.
How much do Actuarial Science graduates earn?+
Earnings are not published at the 6-digit CIP level by any federal source. The Actuaries occupation, which Actuarial Science most directly leads to, pays a median of $130,000 a year nationally (BLS OEWS May 2025), and graduates of the broader Management Sciences and Quantitative Methods field report median earnings of $68,049 one year after graduation (College Scorecard).
About the data on this page
Every figure comes from an official federal or public source. Here is each one and the release it is currently on.
Program definitions are from the NCES Classification of Instructional Programs (CIP 2020). Skills, knowledge, abilities, work activities, tools, and job zones are from the O*NET database by the U.S. Department of Labor, used under the CC BY 4.0 license.
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