# Actuarial Science Minor

## Decide what's Worth the Risk

### Find favorable odds using math and stats.

UW-Green Bay's Actuarial Science minor equips you with the specialized knowledge and quantitative skills sought after by the actuarial profession. Gain a solid understanding of core actuarial concepts, including accounting, economics, probability and statistics.

Course Requirements

### 23% Job Growth

Projected actuary job growth from 2022 to 2032, U.S. Bureau of Labor Statistics

### \$113,990

The median annual wage for actuaries was \$113,990 in May 2022, U.S. Bureau of Labor Statistics, 2022

Develop the analytical and problem-solving skills highly valued by employers in the actuarial field.

## Compatible Majors

The actuarial science minor perfectly complements various majors, including:

• Mathematics
• Statistics
• Computer Science
• Finance

## What is an Actuary?

An actuary is a professional who analyzes the costs of uncertainty and risk. They work primarily in insurance and finance and use math and statistics to assess the probability of potential events like death or disasters. They use this information to help design strategies to minimize financial impact. Actuaries work in pricing insurance, pension plans and investment portfolios, communicating complex concepts to clients and regulators.

### Analyze Data

Actuaries use statistics, probability and financial theory to analyze complex data sets and identify patterns and trends.

### Calculate Risk

Actuaries assess the likelihood of future events, such as death, disability, accidents or economic downturns, and calculate the potential financial impact of these events.

### Solve Problems

Based on their risk assessments, actuaries develop and recommend solutions to manage and mitigate risk. This could involve setting insurance premiums, designing financial products or creating risk management strategies.

## Actuarial Certification Exams

Actuaries typically need a bachelor’s degree to enter the occupation and must pass a series of exams to become certified. The actuarial science curriculum is designed to prepare students for the first two actuarial exams administered by the Casualty Actuarial Society and the Society of Actuaries. The first two exams are general, and so you can test with either organization. Once you pass two or three exams, you'll meet hiring qualifications for many actuarial positions.

### Casualty Actuarial Society

Casualty Actuarial Society (CAS) is focused on property and casualty risks, like auto insurance, home insurance, business insurance and other property insurance.

Casualty Actuarial Society

### Society of Actuaries

The Society of Actuaries (SOA) focuses on life insurance and health insurance — think insuring people rather than belongings.

Society of Actuaries

### Want to Know more?

If you still have questions about if our actuarial science minor is right for you, just ask! Our mathematics and statistics faculty are happy to help.