Actuarial Science can be described as the study of the current financial implications of future contingent events. The Actuarial Science program provides a background in the areas of mathematics, finance, statistics and economics.
Degree, Skills or Expreience Needed for Beginning a Job in this Field:
Actuaries need quantitative reasoning skills and an understanding of modern business and finance. They use economic and statistical techniques to evaluate business, economic and financial implications of future events and potential risk. A Bachelor of Science degree from Valparaiso University and passing the first one or two examinations of the Society of Actuaries is sufficient for entering the field.
Potential Hiring Institutions:
Actuaries practice primarily in the fields of life and health insurance, pensions, employee benefits, and investments. They also work as financial consultatns and as government employees in social security and medicare. Currently, Valpo graduates are working as actuaries for such companies as Safeco and Watson-Wyatt.
Kinds of Work Available to Graduates in this Major:
Not surprisingly, most Actuarial Science majors are employed as actuaries. However, some Actuarial Science majors choose careers in other areas of busiess, or go on to graduate school in statistics, economics, or business administration.
Valpo's Actuarial Science students are particularly well prepared for a Master of Business Administration (MBA) program or a graduate program in statistics. Among graduate programs that our students have been accepted to are; Carnegie Mellon University, Purdue University, the University of Chicago, and the University of Wisconsin.