Actuarial Science

What is an actuary?

Actuaries are professionals who find ways to manage risk. Actuaries use analytical/math skills, business knowledge, and understanding of human behavior to evaluate the likelihood of future events and design creative ways to reduce the probability of bad outcomes. It is one of the top-ranked jobs and a well-compensated business profession not only nationally but also internationally. Actuaries work in the insurance industry as well as for consulting companies, financial institutions, government, labor unions, etc.

Read more details about actuarial careers

Salary Surveys for Actuaries

DW Simpson 2021 Actuarial Salary Survey U.S. Actuarial Salary Survey

Arcadia’s Actuarial Science Program is a Top Choice in Pennsylvania

Arcadia has a long history of programs in actuarial science: originally, we offered a concentration in actuarial science as part of our mathematics major and since 2013 we have had a major.

  • In recent years, our program has been cited in several college rankings as one of the top choices for Actuarial Science degrees in Pennsylvania.
  • We are listed among the top recommended schools for Actuarial Science degrees in the country (Math Colleges).

Advantages of Arcadia’s Bachelor of Actuary Science Program

  • Society of Actuaries UCAP Advanced Status: We provide course coverage for four SOA preliminary exams and approved courses for all Validation by Educational Experience (VEE) topic areas. The four exams for which we prepare students are:
P: Probability
FM: Financial Mathematics
SRM: Statistics for Risk Modeling
STAM: Short Term Actuarial Mathematics
  • Flexibility: Students who decide not to pursue the actuarial exam track can pursue related fields such as statistical programming, teaching, and accounting. We offer a variety of courses as well as majors and minors that complement the actuarial major and allow students flexibility in finding non-exam track positions in actuarial and insurance firms as well as other related industries.
  • Individual Attention: With an 18:1 Class Student to Faculty ratio students will work closely with the faculty.
  • Exam Preparation: Our courses prepare students for the first four of the SOA exams. Students accomplished an 80% pass rate in 2020 for the P (Probability) and FM (Financial Mathematics) exams.
  • Professional Faculty: Diversity in professional and academic backgrounds with an FSA Certified actuary with over 25 years in the industry, a Ph.D. in statistics, and a Ph.D. in Actuarial Science teaching courses. An advisory board of local practicing actuaries connects Arcadia to the professional world.
  • Career Opportunities: There is a high demand for Arcadia graduates by local firms.

Local Actuary Advisory Board

  • Ralph Donato, Principal Consulting Actuary, Long Term Care Group
  • Andrew Martin, FSA, VP Product Management, Penn Mutual Insurance Co.
  • Maureen Whitman, FSA, Director and Actuary, Independence Blue Cross

Academic Flexibility

Our primary goal as a department and as a teaching institution is to ensure student success. To this end, it is important to us that a student who decides not to pursue actuarial science as a major or does not want to pursue the exam path, has opportunities to pursue and succeed in other related fields. Academically speaking, we have the full flexibility to provide a variety of possible combinations of double major or minors:​

Complementary Academic Paths
Bioinformatics Minor
Pre-engineering Double Major
Computer Science Double Major/Minor
Statistics Minor
Elementary Math Education  
Secondary Education Certification M.Ed.
Data Analytics Minor

Actuarial Science Student Q&A

Carlie Banchi is sharing her actuarial science experience at Arcadia with AdvisorSmith that is dedicated to providing advice on business insurance

Actuarial Science Scores an Actuarial Internship

Kelsey Mashinski shares her experience with Arcadia's actuarial science program, including her interaction with faculty, opportunities to learn about the actuarial profession from local actuarial community, and how she was able to get a summer internship at one of the premier actuarial consulting firms in Philadelphia.

Student Passed 3 Exams Including STAM

Mao Li is sharing his experience and tips on actuarial science exam preparation