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Actuarial Science

College of Liberal Arts & Sciences

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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

94% employed or continuing education

70% employed after graduation

24% attending graduate school

$70,822 average starting annual income

Sample employer destinations: State Farm Insurance (6), PricewaterhouseCoopers (PwC) (4), Deloitte (4) View All

Sample grad school destinations: University of Illinois Urbana-Champaign, Columbia University, Johns Hopkins University 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

3.7 years to degree

96% first-year retention rate

84% four-year graduation rate

90% six-year graduation rate

Annual Program Costs3

Illinois Resident

  • Tuition: $12,992
  • Fees: $5,054
  • Expenses: $18,884
  • Total: $36,930

Non-Resident

  • Tuition: $33,344
  • Fees: $5,054
  • Expenses:$19,224
  • Total: $57,622

International

  • Tuition: $35,872
  • Fees: $5,054
  • Expenses: $19,224
  • Total: $60,150

Related Majors

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.

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