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Dr. Ratkovich with Student Mathematics Actuarial Science Major

Everything in life comes down to probability. What is the chance that something does or doesn't happen? What are the risks involved? How are statistics applied? If these are the questions you find yourself asking, consider studying Actuarial Science. As an actuarial science major, you'll be involved in discovering the relationships between probability, mathematics, statistics, finance and economics. Upon graduating, you will be prepared to assess risk within a wide range of industries — from finance to computer programming. Your track in mathematics will get you ready for the first two exams of the Society of Actuaries and the Casualty Actuarial Society — Probability and Financial Mathematics. To support your future endeavors, we also encourage Actuarial Science majors to take business courses such as managerial finance, investments and accounting.


  • Mathematical Statistics is a preparation for the Probability exam

  • Mathematics of Finance is a preparation for the Financial Mathematics exam

  • Mathematics of Interest Theory is a preparation for the Financial Mathematics exam

  • Managerial Finance emphasizes analytical frameworks in finance

  • Investments focuses on financial securities

  • Computerized Financial Modeling with VBA models financial concepts

  • Combine theoretical knowledge in advanced mathematics to solve real-world business problems

Extra-curricular activities

  • Mathematics Club

  • Kappa Mu Epsilon Honor Society

  • Participation in local Science Fairs

  • Opportunity to work in Mathematics Lab

  • Undergraduate Research Symposium

  • UWA Science Olympiad

Career Preparation

Graduates of the Actuarial Science program are in high demand. They can be found in insurance companies, investment banks, consulting firms, and government agencies. Some of them go on to attend graduate school in Actuarial Science. According to the figures from the U.S. Bureau of Labor Statistics, the median annual wage for actuaries was $100,610 in May 2016. The projected percent change in employment for actuaries from 2014 to 2024 is 18% (much faster than the average growth rate for all occupations-7%). Students who have passed at least two actuarial exams should have very good job prospects for entry-level positions.

Contact Information:

Natural Sciences and Mathematics contact Jing Chen at (205) 652-3813.