Actuaries play an important role in today’s world. They are business executives, professionally trained in the mathematical sciences, who specialize in evaluating financial risk. Determining the level of risk allows actuaries to design, analyze, price, and refine insurance programs that meet society’s needs. Iowa’s program is rigorous and its students are academically strong. They receive thorough training in mathematics, probability, and statistics—one reason they enjoy such great success on professional exams. Most have a grade-point average (GPA) well above 3.00, especially in calculus and statistics. Admission to the actuarial science program requires completing prerequisite courses in calculus, computer science, linear algebra, probability, statistics, economics, and financial mathematics. Courses relating to communication skills, such as writing and speaking, are also important.

Iowa graduates have job placement rates ranging from 86-100 percent, depending on their area of study, and our Pomerantz Career Center offers multiple resources to help students find internships and jobs. Most actuaries are employed by insurance companies or employee benefits consulting firms. They have responsibilities related to all phases of product development and maintenance for their companies. Individual employers who need guidance in establishing employee insurance and retirement programs also hire actuarial science graduates. A growing number of actuaries work in asset/liability management, some in investment firms, and others in insurance companies. Actuaries are in high demand and earn good salaries. Most Iowa graduates find work as actuaries, but some become financial managers and teachers. They take positions in locations all across the country, often in large metropolitan areas.