Master of Science in Actuarial Science
There are 12 required courses (36 credit hours) in the master’s program. Students must also pass one professional exam. You will take three courses each semester for a total of four semesters. However, as you will see below, the program allows you to finish in three semesters if you choose to do so. All courses are offered every year, and mainly in the evenings and on weekends to accommodate first and second year graduate students as well as part-time working students. But courses offered jointly with undergraduate students are mainly in the day. If you are a full-time student, you will take evening classes only one night per week. The rest of your time will be spent preparing for the Society of Actuary exams and internship training.
The Accelerated Master’s Option
A key feature of the graduate program is that you are able to complete both the undergraduate and graduate programs within five years. The undergraduate Actuarial Science curriculum is currently recognized by the Society of Actuaries as an “Advanced Undergraduate Curriculum.” The Accelerated Master’s option allows you to attain the degree in only one additional year of study. Four courses (12 credits) taken during your senior year of undergraduate study will count towards the master’s program, leaving just 24 credits and one professional exam for the completion of your master’s degree.
The Actuarial Science program at Maryville has strong working relationships with a variety of area employers. In the past, those relationships have given our students opportunities for paid internships. Though internships do not guarantee jobs, they certainly open doors for many employment opportunities.
Non-Degree Seeking Option for Actuarial Exams
If you are already working in the field, you can enroll in specific classes to help you prepare for your series of professional actuarial exams. You will be classified as a non-degree seeking student for this purpose.
Actuaries solve problems in insurance, finance and other related fields by applying practical and theoretical knowledge of mathematics and business techniques. In this increasingly more necessary field, you might help determine rates and premiums on insurance policies, or forecast future events that could affect insurance programs. Some actuaries work with consulting firms, giving advice to corporations about their insurance and pension programs. Others are employed by government agencies, corporations and universities. Most actuaries specialize in life and health insurance, property and liability insurance or pension plans.
In a comparison of 250 careers by The Jobs Rated Almanac – whose criteria included work environment, income, stress level, security, physical demands and employment opportunities – Actuarial Science was ranked as the “number one job” in the nation.
The Career Management Office provides you with resources and guidance to help you get where you want to go after graduation.
Plus, we bring employers to you by setting up on-campus recruitment sessions with major companies. Each February, Maryville hosts an Actuarial Science Career Day. Employers from many local and regional companies come to campus to meet actuarial science students and discuss career opportunities in an informal setting.
Degree Offerings and Requirements
To be considered for the Master of Science in Actuarial Science program, candidates must have a minimum score of 150 on the quantitative section of the Graduate Record Exam (GRE). International students are required to have a minimum TOEFL score of 550 or TOEFL iBT: 85 or IELTS: 6.5 overall band score.
A bachelor’s degree in mathematics, science or other related field from a regionally accredited college or university is required, and students must have achieved a GPA of at least 3.0 in their undergraduate program.
Candidates should also be able to demonstrate a strong mathematics background. This can be achieved through grades in mathematics courses, an undergraduate B.S. thesis involving mathematics, sciences or risk analysis, or work experience involving Actuarial Science. In addition, two letters of recommendation and personal statement are required.
Candidates who passed the professional examinations offered by Society of Actuaries will be waivered for the Graduate Record Exam requirement.