Here, you provide critical risk assessment and management.
Actuaries use mathematical tools to analyze the financial costs of risk and uncertainty, assess the risk of potential events, and minimize the cost of such risks Governors State’s Master of Science in Mathematics—Actuarial Science covers a wide range of mathematics including abstract algebra, probability and statistics, combinatorics, and advanced calculus, while focusing your studies in actuarial science through coursework in accounting, economics, investments, and financial management.
In the Actuarial Science sequence, you will prepare to take the initial two actuarial examinations developed by the professional actuarial societies. In addition to a strong knowledge base in mathematics, including probability and statistics, coursework includes risk management, finance, economics, and investments.
Reach your career goals.
In the Actuarial Science program, you will be prepared to apply mathematical proficiency to real-world solutions and enter careers in a variety of insurance types—life, health, and property and casualty, among others—as well as career fields that involve investments, such as pension and retirement, enterprise risk, and the public sector. As an actuary, you will use research-based strategies to evaluate and lessen risk for insurance companies while keeping costs and benefits competitive for policyholders.
Why get a Master of Science in Mathematics—Actuarial Science?
With a graduate degree in Actuarial Science, you will be equipped with skills essential to many industries—particularly the insurance industry, a growing sector. Actuaries often work alongside accountants and underwriters to determine appropriate insurance rates. Others consider investment risk for organizations in both the private and public sectors.
Data collected in 2017 reflected the median annual salary for Actuaries at $100,610 with an average range of $74,480 – $140,190 ( Bureau of Labor Statistics). Chicago’s median salary for Actuaries is $97,290.
Delivery Format
Achieve your master’s degree in as little as 18 months. Governors State’s 34-credit hour Mathematics—Actuarial Science M.S. is offered fully on-campus or in a hybrid format. Enroll full-time to jumpstart your career or part-time for added flexibility.
Frank Lattyak, Options Clearing Corporation (OCC)
Entering the Actuarial Science program, I was looking for a career change. While my courses focused on applied mathematical risk analysis, they fostered the development of business skills. These strengths have really carried through in my current role as Enterprise Risk Analyst—a position that began as an internship as a curriculum requirement but that has turned into a full-time position.
Dr. Dianna Galante, Full Professor of Mathematics
As an actuary, you will have a challenging and rewarding career, solving real world problems, with very competitive salaries. After completing the common track, you will concentrate on one of many specialty areas, including but not limited to risk management, insurance (health, life, and casualty), retirement, or predictive analytics.