Actuarial Science

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What is Actuarial Science?

Actuarial Science is a field that combines other fields to find the numbers behind risks and contingencies. In this major, you’ll enjoy the program’s strong foundation of mathematics and receive training in probability modeling. You’ll also learn important skills in math, data analysis, economics, statistics, and finance. With this degree, you’ll be able to determine the risk of certain actions in any industry. Using that information, you will consult on whether those plans are the best course of action.

Career Options

Actuarial science
Data analysis
Quantitative financial analysis
Predictive modeling
Risk analysis
Risk management

Post-Graduation Success¹

92% employed or continuing education

86% employed after graduation

6% attending graduate school

$81,650 average starting annual income

Sample employer destinations: Aon, Deloitte, Mercer, Oliver Wyman, Pinnacle Actuarial Resources, KPMG, Hub Group, Community Park District of La Grange Park, Old Republic Insurance Company, Markel View All

Sample grad school destinations: University of Illinois Urbana-Champaign View All

Program Resources

College of Liberal Arts & Sciences Program Webpage Degree Requirements

Review Criteria

First-Year Major-Specific Criteria

Calculus preferred (if available at high school)
Demonstrated understanding of and interest in the major

View All Review Criteria

Transfer Criteria

Transfer Handbook

Graduation & Retention²

3.9 years to degree

97% first-year retention rate

78% four-year graduation rate

92% six-year graduation rate

Annual Program Costs³

Illinois Resident

Tuition: $13,252
Fees: $5,182
Expenses: $19,558
Total: $37,992

Non-Resident

Tuition: $35,928
Fees: $5,182
Expenses:$19,898
Total: $61,008

International

Tuition: $38,576
Fees: $5,182
Expenses: $19,898
Total: $63,656

Related Majors

Economics - LAS

Finance - BUS

Mathematics - LAS

Statistics - LAS

Statistics and Computer Science - LAS

¹ Post-graduate data was collected through the Illini Success initiative, which primarily relies on self-reported survey data sources. Statistics are aggregated from the past three years. Please note that total compensation may be greater than annual salary as other forms of compensation (e.g., signing bonus, commission, benefits) are not included. For more information on Illini Success data and methods, please visit the Illini Success website. For average wage or salary information five years after entry into an occupation, visit the Post-Secondary Employment Outcomes Explorer.

² Graduation and retention data comes from several majors within a similar interest area. Data may not yet be available for newly created programs. Years-to-degree data is only available for programs from which you can earn a degree. Retention and graduation rates are only available for programs that you can apply directly into. Retention rates reflect retention to the university, not necessarily retention within the major.

³ "Expenses" are estimated and include books, supplies, housing, and other living expenses. The exact amount you’ll pay depends on where you decide to live, the meal plan you choose, and your overall lifestyle. To learn more about costs, please visit the Office of Student Financial Aid website. To learn the average monthly student loan payment over a period of 20 years based on estimated cost, visit the Illinois College2Career website.