Actuarial consultant education requirements

Updated January 8, 2025

4 min read

There are several educational requirements to become an actuarial consultant. Actuarial consultants usually study mathematics, management science, or statistics. 80% of actuarial consultants hold a bachelor's degree, and 16% hold an master's degree. We analyzed 379 real actuarial consultant resumes to see exactly what actuarial consultant education sections show.

The most common colleges for actuarial consultants are the University of Connecticut and the University of Connecticut.

There are also many online actuarial consultant courses to help get the education required to be an actuarial consultant.

There are certain actuarial consultant certifications that you should consider. These actuarial consultant certifications include Member of the American Academy of Actuaries (MAAA) and Associate of the Society of Actuaries (ASA).

What education do you need to become an actuarial consultant?

What degree do you need to be an actuarial consultant?

The most common degree for actuarial consultants is bachelor's degree, with 80% of actuarial consultants earning that degree. The second and third most common degree levels are master's degree degree at 16% and master's degree degree at 2%.

Bachelor's, 80%

Master's, 16%

Associate, 2%

Diploma, 1%

Other Degrees, 1%

What should I major in to become an actuarial consultant?

You should major in mathematics to become an actuarial consultant. 42% of actuarial consultants major in mathematics. Other common majors for an actuarial consultant include management science and statistics.

Mathematics, 42%

Management Science, 22%

Statistics, 7%

Business, 5%

Other Majors, 24%

Most common colleges for actuarial consultants

Actuarial consultants often get their degrees at University of Connecticut, Central Connecticut State University, and University of California - Davis. Here are the most common colleges for actuarial consultants in the US based on their resumes.

Actuarial consultant common college	Percentages
University of Connecticut	13.79%
Central Connecticut State University	6.90%
University of California - Davis	5.75%
Georgia State University	5.75%
DePaul University	5.75%

Show more common actuarial consultant colleges

Best majors for actuarial consultants

Rank	Major	Percentages
1	Mathematics	42.0%
2	Management Science	22.4%
3	Statistics	7.1%
4	Business	5.0%
5	Economics	5.0%

Show more common actuarial consultant majors

Best colleges for actuarial consultants

The best colleges for actuarial consultants are Columbia University in the City of New York, Northwestern University, and Carnegie Mellon University.

An actuarial consultant with advanced education typically earns a higher salary and has access to better jobs. That's why Zippia looked into the best colleges for actuarial consultants. We based this list on several metrics: admissions rate, retention rate, mean earnings of graduates, the ratio of working vs. non-working students ten years after admission, the average cost of attendance, and median debt for graduates who become actuarial consultants.

1. University of Notre Dame

Notre Dame, IN • Private

In-state tuition

$53,391

Enrollment

8,568

2. Columbia University in the City of New York

New York, NY • Private

In-state tuition

$59,430

Enrollment

8,216

3. Carnegie Mellon University

Pittsburgh, PA • Private

In-state tuition

$55,465

Enrollment

6,483

4. Emory University

Atlanta, GA • Private

In-state tuition

$51,306

Enrollment

6,975

5. Georgia Institute of Technology

Atlanta, GA • Private

In-state tuition

$12,424

Enrollment

15,201

6. University of Pennsylvania

Philadelphia, PA • Private

In-state tuition

$55,584

Enrollment

10,764

7. University of Michigan - Ann Arbor

Ann Arbor, MI • Private

In-state tuition

$15,262

Enrollment

30,079

8. University of California - Los Angeles

Los Angeles, CA • Private

In-state tuition

$13,226

Enrollment

31,568

9. University of California, Berkeley

Berkeley, CA • Private

In-state tuition

$14,184

Enrollment

30,845

10. Boston University

Boston, MA • Private

In-state tuition

$53,948

Enrollment

17,238

20 best online courses for actuarial consultants

Advertising disclosure

1. What does an actuary actually do?

4.6

(440)

The course that provides a practical overview of the day to day work of an actuary in an insurance environment...

2. Mathematical (Actuarial) Statistics:(Exam P/CT3/CS1)

4.4

(328)

By MJ the Fellow Actuary...

3. Fundamentals of Insurance - 2

4.4

(5,370)

Part 2...

4. Fundamentals of Insurance - 1

4.4

(8,948)

Part 1...

5. Financial Modelling, Financial Planning and DCF Valuation

4.4

(542)

How to create a startup or existing company financial model from scratch and carry out the DCF Valuation...

6. Production Planning for Management Consultants & Analysts

4.5

(325)

A practical guide on how to do analyses during consulting projects...

7. Excel Skills for Insurance Professionals

4.5

(1,046)

From Vlookups to Pivot Tables: Learn the Excel basics anyone working in the insurance industry needs to know!...

8. Financial Planning Coaching Certification Holistic Coaching

4.4

(1,262)

Financial Planning Coaching Practitioner Course Graduates Prepared Professionals in Holistic Financial Planning Coaching...

9. Financial Planning & Analysis: Building a Company's Budget

4.6

(8,605)

Learn the Fundamentals of Financial Planning and Position Your Career for Success!...

10. Company Valuation & Financial Modeling

4.6

(3,485)

Learn comprehensive financial modeling, forecasting and business valuation techniques for Finance professionals...

11. Tesla Company Analysis: Strategy, Marketing, Financials

4.7

(838)

Acquire the #1 Skill Needed For Investment banking, Private equity, and Consulting - Company analysis...

12. Financial Analysis for Management Consultants & Analysts

4.5

(271)

A practical guide with case studies and examples of financial analyses done during consulting projects...

13. Consulting Business: How to Start a Consulting Business

(502)

Consulting Business 90-Step Startup + 5-Phase Consulting Business Proposal Plan to Start Consulting Business Fast...

14. Introduction to Financial Planning - CFP Certification

4.5

(1,453)

CFP - Module 1...

15. Project Planning with Advanced Roadmaps for Jira

4.5

(3,724)

Learn JIRA's project planning and agile road-mapping tool with a real-world project...

16. Product Marketing Launch Plan: Product GTM with Dekker, MBA

4.6

(2,843)

Product Management Marketing Strategy, Marketing Plan, Product Marketing Manager, Product Manager Marketing Plan...

17. Complete Primavera P6 training; Project Planning

4.3

(304)

Master project planning and scheduling with Primavera P6 (Basic & Advance)...

18. Strong & Effective Marketing Plan (Plan Template & Example)

4.2

(675)

Innovative approach for a winning offline and digital marketing plan (important part of your business plan)...

19. Financial Mathematics - Theory of Interest & Cashflow Models

4.6

(338)

By MJ the Fellow Actuary...

20. Financial Statement Analysis

4.7

(255)

Learn how to make understanding financial statements your superpower!...

Top 10 most affordable universities for actuarial consultants

The most affordable schools for actuarial consultants are Baruch College of the City University of New York, university of florida, and california state university - long beach.

If the best universities for actuarial consultants are out of your price range, check out these affordable schools. After factoring in in-state tuition and fees, the average cost of attendance, admissions rate, average net price, and mean earnings after six years, we found that these are the most affordable schools for actuarial consultants.

1. Baruch College of the City University of New York

New York, NY • Private

In-state tuition

$7,262

Cost of attendance

14,046

2. University of Florida

Gainesville, FL • Private

In-state tuition

$6,381

Cost of attendance

21,034

3. California State University - Long Beach

Long Beach, CA • Private

In-state tuition

$6,798

Cost of attendance

18,306

4. California State University - Fullerton

Fullerton, CA • Private

In-state tuition

$6,886

Cost of attendance

17,645

5. Brigham Young University

Provo, UT • Private

In-state tuition

$5,620

Cost of attendance

18,136

6. Brooklyn College of the City University of New York

Brooklyn, NY • Private

In-state tuition

$7,240

Cost of attendance

13,991

7. University of Puerto Rico - Mayaguez

Mayaguez, PR • Private

In-state tuition

$4,094

Cost of attendance

14,302

8. Florida State University

Tallahassee, FL • Private

In-state tuition

$5,656

Cost of attendance

21,623

9. Florida International University

Miami, FL • Private

In-state tuition

$6,556

Cost of attendance

19,434

10. Queens College of the City University of New York

Queens, NY • Private

In-state tuition

$7,338

Cost of attendance

14,281

Top 10 hardest universities to get into for actuarial consultants

The hardest universities for actuarial consultants to get into are Columbia University in the City of New York, Northwestern University, and Carnegie Mellon University.

Some great schools for actuarial consultants are hard to get into, but they also set your career up for greater success. The list below shows the most challenging universities to get into for actuarial consultants based on an institution's admissions rates, average SAT scores accepted, median ACT scores accepted, and mean earnings of students six years after admission.

1. Columbia University in the City of New York

New York, NY • Private

Admissions rate

SAT average

1,512

2. Northwestern University

Evanston, IL • Private

Admissions rate

SAT average

1,508

3. Carnegie Mellon University

Pittsburgh, PA • Private

Admissions rate

17%

SAT average

1,507

4. University of Pennsylvania

Philadelphia, PA • Private

Admissions rate

SAT average

1,492

5. Johns Hopkins University

Baltimore, MD • Private

Admissions rate

11%

SAT average

1,513

6. University of Notre Dame

Notre Dame, IN • Private

Admissions rate

18%

SAT average

1,502

7. Stanford University

Stanford, CA • Private

Admissions rate

SAT average

1,497

8. Washington University in St Louis

Saint Louis, MO • Private

Admissions rate

15%

SAT average

1,506

9. Emory University

Atlanta, GA • Private

Admissions rate

19%

SAT average

1,449

10. Harvard University

Cambridge, MA • Private

Admissions rate

SAT average

1,520

Top 10 easy-to-apply-to universities for actuarial consultants

The easiest schools for actuarial consultants to get into are Felician University, university of houston - downtown, and notre dame de namur university.

Some schools are much easier to get into. If you want to start your career as an actuarial consultant without much hassle, check out the list of schools where you will be accepted in no time. We compiled admissions rates, average SAT scores, average ACT scores, and average salary of students six years after graduation to uncover which were the easiest schools to get into for actuarial consultants.

1. Felician University

Lodi, NJ • Private

Admissions rate

81%

SAT average

999

2. University of Houston - Downtown

Houston, TX • Private

Admissions rate

83%

SAT average

1,012

3. Notre Dame de Namur University

Belmont, CA • Private

Admissions rate

82%

SAT average

983

4. D'Youville College

Buffalo, NY • Private

Admissions rate

100%

SAT average

1,072

5. La Roche College

Pittsburgh, PA • Private

Admissions rate

99%

SAT average

1,008

6. University of the Incarnate Word

San Antonio, TX • Private

Admissions rate

88%

SAT average

1,044

7. Kean University

Union, NJ • Private

Admissions rate

86%

SAT average

991

8. Gwynedd Mercy University

Gwynedd Valley, PA • Private

Admissions rate

92%

SAT average

1,031

9. Mount Saint Mary's University

Los Angeles, CA • Private

Admissions rate

84%

SAT average

1,031

10. Wayland Baptist University

Plainview, TX • Private

Admissions rate

98%

SAT average

1,003

Average actuarial consultant salary by education level

According to our data, actuarial consultants with a Master's degree earn the highest average salary, at $99,157 annually. Actuarial consultants with a Bachelor's degree earn an average annual salary of $87,433.

Actuarial consultant education level	Actuarial consultant salary
Master's Degree	$99,157
Bachelor's Degree	$87,433

Actuarial consultant education FAQs

What is the best college for Actuarial Consultants?

Have more questions? See all answers to common computer and mathematical questions.

Search for actuarial consultant jobs

Updated January 8, 2025

Zippia Team

Editorial Staff

The Zippia Research Team has spent countless hours reviewing resumes, job postings, and government data to determine what goes into getting a job in each phase of life. Professional writers and data scientists comprise the Zippia Research Team.

Updated January 8, 2025

Browse computer and mathematical jobs