Actuarial Science

Many things in life involve risk. But how do we know how much risk is worth risking? Whole industries, like insurance and finance, depend on having reliable answers to that question — and that’s where you come in. If, that is, you major in Actuarial Science at McDaniel.

Mortarboard

Degree Types

Major

Institution

Complementary Programs

Business Administration

Accounting

Heart

Distinctive Requirements

Capstone

Why Actuarial Science at McDaniel?

Our Actuarial Science major combines cutting-edge courses in Mathematics, Economics, and Business Administration to form a specialized degree pathway. It will open doors for you into a unique career field in which professionals use statistical models to assess financial risk in a wide variety of industries.

This interdisciplinary program will give you the mathematical and economic tools you need to quantify and assess risk. Guidance from expert faculty and McDaniel's alumni network will provide you with all you need to know for future certification and career success.

The Payoff

The field of risk analysis is growing at a rate much faster than average, which means graduates of our program are highly employable. Want even better news? The median salary for actuaries is over $100,000.

Future Career Paths

Almost every graduate of our program is currently working in a professional position under the general titles like “mathematician,” “systems analyst,” “actuary,” and “statistician,” at places like:

The National Security Agency
The Pentagon
IBM
Hewlett Packard Corporation
NASA
The Department of Defense
Actuarial firms

Graduate Programs

Our graduates distinguish themselves in some of the finest graduate programs in the country, including:

Brandeis
Cornell
Harvard
Johns Hopkins
University of Maryland
University of Michigan
University of Virginia

Distinctive Courses

The study of the economic foundations of any society: price theory - the market system and allocation of resources; and macroeconomic theory - national income, employment, inflation, business cycles, and international trade.

An opportunity for students to practice and think critically about communication in the workplace. Assignments will focus on writing forms and topics suitable for students’ fields of major interest. Students will complete individual and collaborative projects designed to help them write clearly and effectively for audiences both within their professions and outside of them. Particular emphasis will be placed on electronic communication forms.

The management of business funds, with emphasis on the techniques of financial analysis, the financial environment in which firms operate, the sources and forms of external financing, and the allocation of funds to competing alternatives such as plant and equipment, working capital, and financial investment.

This course will cover the theoretical basis of corporate finance and financial models and the application of those models to insurance and other financial risks. This course is designed to prepare students for the Society of Actuaries Actuarial Exam IFM.

Program Requirements

Actuarial Science Major

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See Yourself Here

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Department Faculty

Learn more about the faculty and staff behind this program.

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The McDaniel Commitment in Action

The McDaniel Commitment—a series of opportunities guaranteed to all students—provides enhanced mentoring and coaching, and ensures every undergraduate student completes at least two meaningful experiential learning opportunities.

McDaniel’s women’s basketball team in France.

Study Abroad

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Internships

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Research

IMPRESSIVE OUTCOMES Alayna Meekins ’22

Alayna Meekins graduated from McDaniel College as the first student to hold a degree in Actuarial Science. A dual major in Economics, Meekins kept an eye on the future while pursuing her ideal career as an actuary. Support from professors and alums alike helped set her up for success, and her plans aren't over yet.

Read Alayna's Profile

FACULTY SPOTLIGHT Spencer Hamblen Professor of Mathematics

Professor of Mathematics Spencer Hamblen specializes in researching number theory, arithmetic dynamics, and algebraic symmetry. Majors in Actuarial Science may join him in classes like his Mathematics Problems Seminar (MAT3391), Number Theory (MAT3336), and the Jan Term opportunity Conference Experience in Mathematics (MAT1140).

View Dr. Hamblen's Profile

Business Administration Accounting Data Analytics, M.S. (100% Online or Hybrid Low Residency) Economics Entrepreneurship