UT Dallas Actuarial Program
Bachelor of Science in Actuarial Science
Actuarial science is primarily concerned with risk and uncertainty. Actuaries construct mathematical and statistical models to understand risk and uncertain events, predict the likelihood of their outcomes, and measure their financial implications. As the needs of the actuarial profession evolve, the skill set of actuaries is used in wider applications in both traditional and non-traditional fields. According to the Bureau of Labor Statistics, employment of actuaries is projected to grow 22 percent from 2016 to 2026, much faster than the average for all occupations.
Actuary is one of the most secure and highest-paying professions available, even during tough economic times. Annual starting salaries for graduates with a bachelor degree in actuarial science start at around $50,000 and quickly grow with each passed actuarial exam and developing experience. In addition to their mathematical analysis and problem-solving abilities, actuaries need to have excellent communication skills as well as a basic understanding of economics, finance, and corporate structure and decision-making. If you have a penchant for numbers and a desire to work in business, a career as an actuary may be for you.
In our bachelors program, students take a substantial number of mathematics and statistics courses, as well as courses that cover actuarial topics and VEE credits. Additional courses in computer science, writing and communication equip the students with skills essential to excel in the evolving workplace. Students must take 120 hours to graduate: 42 hours from the University’s core curriculum and 78 hours in the major. Students interested in the program should seek advice from the undergraduate advisor (ACTS).
Actuarial science students are encouraged to hold internships and participate in networking events. Furthermore, we hope that students will have passed one actuarial exam by their junior year when applying for internships and at least one more exam by their senior year when applying for full-time jobs. UT Dallas offers many tools to students to help them find internships and jobs, including a strong partnership with the UT Dallas Comets Career Center dedicated to helping with students’ resumé building and interviewing skills. Handshake is our Career Center’s new one-stop-shop career services network.
Our actuarial program has developed a close working relationship with insurance companies and consulting firms in the southwest over the years. Actuarial career events at UT Dallas provide a great platform for students to network with actuaries, and help secure internships and entry level jobs. Furthermore, our risk management/actuarial science fraternity, Gamma Iota Sigma (Beta Phi Chapter), sponsors an employer/student mixer in the fall semester.
Dallas is a major hub for insurance companies and actuarial consulting firms. UT Dallas’ location is a tremendous advantage for students. Actuarial firms like Willis Towers Watson, Aon, Milliman, Liberty Mutual, Lewis & Ellis, Swiss Re, Optimum Re, Transamerica, Blue Cross Blue Shield, Globe Life Insurance, Kemper Insurance, Cigna, USAA are proud employers of UT Dallas actuarial graduates.