Barney School of Business

Minor in Actuarial Science

Actuaries are trained professionals who analyze the financial consequences of risk. The profession has consistently been rated one of the top jobs in the U.S. Learn to use mathematics, statistics, and financial theory to provide advice and solutions for business and societal issues.

About the Minor

If you have strong math skills, high levels of motivation, and an interest in applying intellectual talents to real world problems, actuarial science is for you. Gain advanced tools and techniques in this general business education program that includes a career-ready focus.

Benefit from our ties to local insurance and finance companies and the wide range of programs and research support provided by the RC Knox Center for Insurance and Risk Management. Local actuaries helped design the program and often recruit and place students in actuarial internships and permanent positions.

Requirements and Exams

This minor is open to both Barney and non-Barney students. For specific class descriptions and requirements, see our course catalog.

Core Requirements

  • Financial Accounting
  • Business Finance
  • Financial Mathematics
  • Probability Theory
  • Three calculus prerequisite courses
  • Internship

Professional Exams

In your third and fourth years, you should expect to successfully complete at least two of the professional exams given by the Society of Actuaries and the Casualty Actuarial Society. Learn more about the various exams.

Actuarial Exams

Probability (P) Exam consists of three hours of multiple-choice questions offered through Computer-Based Testing (CBT). A thorough command of calculus and probability topics is assumed. Additionally, a very basic knowledge of insurance and risk management is assumed.

Financial Mathematics (FM) Exam consists of three hours of multiple-choice questions offered through CBT, covering interest theory (discrete and continuous). It assumes a knowledge of calculus and probability.

Career Outlook

The average starting salary for an actuary is between $50,000 and $60,000 a year. Actuaries who have passed all the exams can earn a salary upward of $120,000 a year by their early 30s.

The actuarial profession has consistently been rated one of the top jobs in the United States and the second top job based on salary and demand, according to U.S. News and World Report.

Actuaries work for insurance companies, consulting firms, government, employee benefits departments of large corporations, hospitals, banks, and investment firms, or in any businesses that need to proactively manage financial risk.

Anna Pan

2014, Professional Actuary

Anna Pan started her actuarial career with The Hartford Financial Services Group in the Property & Casualty Student Actuarial Program in the spring of 2015.

“I first heard about actuarial science during my freshman year from several Barney professors who encouraged me to enroll in the Actuarial Science Minor program. I will always be grateful to my dynamic math professors for strengthening my interest by explaining difficult concepts so well that I had hope of surviving in the actuarial field.”

Admissions

Applicants typically score 650 or higher on the math section of the SAT and have a combined math and verbal score of 1200 or higher.

Students at the University of Hartford declare their intent to obtain a minor using the forms available in the Office of Academic Services, Auerbach Hall, Room 227.

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