Actuary education requirements

Updated January 8, 2025

4 min read

There are several educational requirements to become an actuary. Actuaries usually study mathematics, management science, or statistics. 83% of actuaries hold a bachelor's degree, and 12% hold an master's degree. We analyzed 520 real actuary resumes to see exactly what actuary education sections show.

The most common colleges for actuaries are the University of Iowa and the University of Iowa.

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

There are certain actuary certifications that you should consider. These actuary certifications include Associate of the Society of Actuaries (ASA) and Fellow of the Society of Actuaries (FSA).

What education do you need to become an actuary?

What degree do you need to be an actuary?

The most common degree for actuaries is bachelor's degree, with 83% of actuaries earning that degree. The second and third most common degree levels are master's degree degree at 12% and master's degree degree at 3%.

Bachelor's, 83%

Master's, 12%

Associate, 3%

Doctorate, 1%

Other Degrees, 1%

What should I major in to become an actuary?

You should major in mathematics to become an actuary. 45% of actuaries major in mathematics. Other common majors for an actuary include management science and statistics.

Mathematics, 45%

Management Science, 17%

Statistics, 7%

Economics, 6%

Other Majors, 25%

Most common colleges for actuaries

Actuaries often get their degrees at University of Iowa, DePaul University, and University of Connecticut. Here are the most common colleges for actuaries in the US based on their resumes.

Actuary common college	Percentages
University of Iowa	10.23%
DePaul University	7.95%
University of Connecticut	6.82%
University of California - Davis	6.82%
University of Michigan - Ann Arbor	5.68%

Show more common actuary colleges

Best majors for actuaries

Rank	Major	Percentages
1	Mathematics	44.6%
2	Management Science	17.4%
3	Statistics	7.0%
4	Economics	6.1%
5	Business	4.9%

Show more common actuary majors

Best colleges for actuaries

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

An actuary with advanced education typically earns a higher salary and has access to better jobs. That's why Zippia looked into the best colleges for actuaries. 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 actuaries.

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 actuaries

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Top 10 most affordable universities for actuaries

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

If the best universities for actuaries 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 actuaries.

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 actuaries

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

Some great schools for actuaries 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 actuaries 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 actuaries

The easiest schools for actuaries 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 actuary 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 actuaries.

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 actuary salary by education level

According to our data, actuaries with a Master's degree earn the highest average salary, at $98,329 annually. Actuaries with a Bachelor's degree earn an average annual salary of $83,643.

Actuary education level	Actuary salary
Master's Degree	$98,329
Bachelor's Degree	$83,643

Actuary education FAQs

What is the best college for Actuaries?

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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

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