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.
“In a world with rapid technological advancements, data science and actuarial science are extremely beneficial skills to have. There are ways to apply these degrees in almost any field, and opportunities at UHart are limitless. I hope to make a meaningful impact in some way wherever my career takes me.”
-Steven Rimdzius ’23, Actuarial Science Minor
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.
Yuriy Mishtal ’23
Finance major and actuarial science minor,
Mishtal used his leadership position in the Actuarial Club to his advantage during a Spotlight Networking Event. After graduation, Mishtal intends to enter the actuarial field, hoping to transform his newest internship opportunity with Oliver Wyman Consulting Firm into a stable position.
“I talked with a representative of Oliver Wyman Consulting Firm, who helped arrange an interview for me with the company. Because of this, I successfully completed both interview rounds and was able to obtain an actuarial consulting intern role for this summer.”
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.