At Oregon State University, actuarial science studies are centered in the Department of Mathematics. Undergraduate students may earn a minor in actuarial mathematics while graduate students interested in this area may select a problem area from actuarial science as a thesis research topic for either the M.S. or Ph.D. degree.
Connect with an advisor
For all queries related to the actuarial science minor, please contact Dr. Amin Hassan Zadeh:
- [email protected]
- Kidder Hall 346
For general information about actuarial science at Oregon State and career preparation, contact us at: [email protected].
What is an actuary?
Actuaries employ high-level statistical analyses and apply technical and mathematical methods and skills in a variety of industries, from the calculation and analysis of pricing models and financial risk modeling to pension programs, housing markets and health insurance valuation.
Actuary is the 8th fastest growing career according to the Bureau of Labor Statistics, which projects 22% employment growth for actuaries between 2024 and 2034. With a median salary of more than $125K, speedy job growth, high personal and professional satisfaction — with the added advantage of being beneficial to society — actuarial science jobs frequently feature in rankings of the best STEM (science, technology, engineering and mathematics) jobs in America.
Career pathways
The pathway to becoming an actuary begins with a solid foundation in mathematics and statistics.
Start with the math major. Actuary students at Oregon State build strong math and critical thinking skills in preparation for their careers.
Add the actuarial science minor. These extra courses provide specialized preparation for financial, statistical and analytical areas.
Prepare for professional exams. The actuary career is built upon professional exams and certifications that communicate your experience and expertise to future employers. While in school, aim for 1-2 foundational exams (Probability and Financial Mathematics) shared by all actuary fields. Early exams are shared and flexible, giving you the time to learn which areas interest you most.
Consider which actuary track interests you. Learn more about these actuary careers and seek out internships or volunteer positions to provide real experiences:
- Life insurance, pension, health insurance and finance track (Society of Actuaries, SOA)
- Property and casualty track (Casualty Actuarial Society, CAS)
Get started in your career. After graduation, continue studying and earning professional credentials as you work to grow into highly specialized, well-paid roles in insurance, consulting or finance.
- Associate level, typically 3-5 years
- Fellow level, typically 6-10 years
Actuary career preparation at Oregon State
Example courses
- Introduction to Financial Mathematics
- Introduction to Mathematical Statistics
- Actuarial Mathematics (Long/Short Term Liability)
- Methods of Data Analysis
Exam preparation
At Oregon State University, the actuarial program is designed specially to prepare students for preliminary examinations of both the Society of Actuaries and the Casualty Actuarial Society through courses in probability, financial mathematics, actuarial modeling and statistics.
- Probability courses prepare students for the Probability Exam (SOA Exam P and CAS Exam 1)
- Introduction to Financial Mathematics prepares students for the Financial Mathematics Exam (SOA Exam FM and CAS Exam 2)
- Long-Term and Short-Term Actuarial Liabilities prepares students for SOA Exam FAM and foundational CAS actuarial concepts
- Mathematical Statistics and related statistics courses prepares students for SOA Exam SRM, CAS MAS-I, predictive analytics and statistical modeling
In addition, courses in statistics, economics and finance may satisfy portions of the SOA Validation by Educational Experience (VEE) requirements in Economics, Mathematical Statistics, Applied Statistical Methods and Corporate Finance.
Actuarial Science Club
Meeting 2–3 times per term, the Actuarial Science Club helps students explore the actuarial profession, coursework, exams, internships and career opportunities. Industry speakers share their work, career paths and emerging trends in the field with the club.
Funding support
The Actuarial Science Award began in 1984 through donations by members of the Portland Actuarial Club. It supports students who successfully complete one or more exams given by the Society of Actuaries. It also supports research activities in actuarial science and financial mathematics. The fund is made possible by donations from alumni and other supporters.
Student awards and recognition are made annually at the public Lonseth Lecture during the spring term of each academic year. Students who have successfully passed an SOA or CAS examination are encouraged to inform the office manager in the Department of Mathematics.
Professional societies
Learn more about the requirements and careers in Actuarial Science, visit the websites of the Society of Actuaries (SOA), or the Casualty Actuarial Society (CAS). The informative website at BeAnActuary.org is also highly recommended to both graduate and undergraduate students who wish to learn more about this profession.
