M.S. in Communication Science & Disorders
The Master of Science (M.S.) in Communication Science & Disorders at the University...
B.S. in Actuarial Science
Eau Claire, Wisconsin
INTAKE: Feb & Sept
Program Overview
The B.S. in Actuarial Science at the University of Wisconsin-Eau Claire is designed to equip students with the necessary skills and knowledge to assess and manage risk in the fields of insurance, finance, and pension planning. This highly specialized program integrates mathematics, statistics, finance, and economics to prepare students for the actuarial exams and professional work in the actuarial field. The program emphasizes problem-solving, analytical thinking, and proficiency with actuarial models, making graduates well-prepared for careers in risk management, actuarial consulting, and more.
STEM-designated: The B.S. in Actuarial Science at UW-Eau Claire is a STEM-designated program, reflecting its emphasis on science, technology, engineering, and mathematics. This designation underscores the technical and analytical skills students develop in the program, including proficiency in mathematical modeling, data analysis, and computer science applications. The STEM focus enhances the program's relevance to industries where quantitative analysis and data-driven decision-making are critical.
Curriculum: The curriculum for the B.S. in Actuarial Science is rigorous and comprehensive, focusing on the foundational concepts of mathematics, statistics, finance, and economics. Core courses include actuarial mathematics, probability theory, life insurance, financial mathematics, and risk management. The program also covers business and computer science topics, such as business law, accounting, and programming, which are essential for actuaries to succeed in their careers. In addition, students have the opportunity to gain practical experience through internships and actuarial exam preparation, ensuring they are well-equipped for the job market.
Research Focus: The research focus within the B.S. in Actuarial Science emphasizes the application of statistical and mathematical models to real-world problems. Students may engage in research projects related to risk management, predictive modeling, and financial risk assessment, often under the guidance of faculty members with expertise in actuarial science and finance. Research is also directed towards exploring emerging trends in the actuarial profession, such as the use of artificial intelligence and machine learning in risk assessment and data analysis.
Industry Engagement: The program fosters strong industry engagement by collaborating with leading companies in the insurance, finance, and consulting sectors. Students have access to a variety of internships, co-op opportunities, and networking events with industry professionals. These connections provide students with valuable hands-on experience and increase their employability upon graduation. Industry engagement also includes guest lectures, workshops, and career fairs designed to help students understand industry trends and requirements while connecting them with potential employers.
Global Perspective: The B.S. in Actuarial Science at UW-Eau Claire offers a global perspective on risk management and actuarial practices, highlighting how actuarial science is applied in different parts of the world. Students are encouraged to explore international career opportunities and understand how global economic conditions and risk factors influence actuarial work. This broader outlook prepares students to work with multinational companies or in global markets, where actuarial expertise is needed to navigate international risk scenarios and regulations.
Location
Eau Claire, Wisconsin
Score
IELTS 6
Tuition Fee
USD 19750
Undergraduate Entry Requirements
Application Fee: $25
Academic Qualifications: Applicants for undergraduate programs typically require a minimum academic achievement of 60% or above in their previous academic qualifications.
English Language Proficiency:
- IELTS: Overall band score of 6.0 with a minimum of 5.5 in each component.
- TOEFL: Overall score of 75 or higher.
- PTE: Overall score of 54 or higher.
- DET (Duolingo English Test): Minimum score of 115.
The University of Wisconsin-Eau Claire is fostering a diverse and inclusive academic environment, it offers various scholarships to international students to support their educational pursuits. These scholarships aim to recognize academic excellence, leadership potential, and contributions to the community.
Academic Excellence Awards: The University of Wisconsin-Eau Claire provides merit-based scholarships to international students who demonstrate outstanding academic achievements. These awards are often determined by high school or college GPA, standardized test scores, and overall academic performance.
Cultural Diversity Scholarships: Recognizing the importance of diversity, the university offers scholarships specifically designed to support students from underrepresented regions or those with unique cultural backgrounds. These scholarships aim to create a more inclusive campus community.
Leadership and Community Involvement Scholarships: The university values students who exhibit leadership skills and actively contribute to their communities. Scholarships are available for international students who have demonstrated exceptional leadership qualities and community service.
Departmental Scholarships: Many academic departments at the University of Wisconsin-Eau Claire offer scholarships to students majoring in specific fields. These scholarships may be based on academic achievement, career goals, or involvement in departmental activities.
Global Engagement Scholarships: To encourage international students to actively engage with global perspectives, the university provides scholarships for those who participate in study abroad programs, internships, or research projects with an international focus.
Graduates of the B.S. in Actuarial Science program at the University of Wisconsin-Eau Claire are well-equipped to pursue a wide range of career paths in fields such as insurance, finance, and risk management.
Actuary: The most common career for graduates of this program is working as an actuary. Actuaries assess risk and uncertainty using mathematics, statistics, and financial theory. They typically work in the insurance industry, helping companies set premiums, manage risk, and ensure financial stability. Actuaries also work in pension planning, healthcare, and government sectors.
Risk Analyst: Risk analysts assess the potential financial risks that an organization might face, including market, credit, operational, and environmental risks. They use statistical models and data analysis to predict and mitigate risks. This role is found in a variety of industries, including finance, insurance, and consulting.
Insurance Underwriter: Underwriters evaluate the risks associated with insuring individuals or organizations and determine the terms and conditions of insurance policies. Actuarial science graduates working as underwriters use their knowledge of risk and probability to decide whether to approve insurance applications and at what rate.
Data Scientist/Analyst: Graduates with strong skills in statistics and mathematics can pursue roles as data scientists or analysts. These professionals analyze large datasets to uncover patterns, trends, and insights that can inform business decisions. In actuarial science, this often involves working with insurance claims, market analysis, and financial modeling.
Financial Analyst: Financial analysts evaluate investment opportunities, portfolio strategies, and financial markets. Actuarial science graduates who are interested in finance may work in corporate finance, investment banks, or other financial institutions, providing insights into economic trends and helping companies make data-driven decisions.
Pension Consultant: Graduates can work as pension consultants, advising corporations and government entities on the design, funding, and management of pension plans. They use actuarial models to predict future liabilities and ensure pension plans are financially sustainable.
Health Insurance Actuary: Some graduates may specialize in health insurance, where they assess risks associated with medical claims, premiums, and healthcare costs. These actuaries work with healthcare providers, insurance companies, and government agencies to ensure the affordability and sustainability of health insurance programs.
Pricing Actuary: Pricing actuaries develop pricing models for insurance products such as life, health, and property insurance. They use actuarial science techniques to determine appropriate premium rates based on risk factors, historical data, and market conditions.
Reinsurance Analyst: Reinsurance analysts work for companies that provide insurance to insurance companies. They assess the risk and pricing associated with reinsurance agreements, helping insurance firms manage risk exposure while remaining profitable.
Enterprise Risk Manager: An enterprise risk manager oversees an organization’s overall risk management strategy. They are responsible for identifying, evaluating, and mitigating various risks that could impact the business. Actuarial science graduates can play a key role in developing comprehensive risk management frameworks and strategies.
Investment Analyst: Investment analysts evaluate financial markets and securities to help organizations make informed investment decisions. Actuarial science graduates with an interest in the stock market, bonds, or other securities may pursue careers in asset management, private equity, or hedge funds.
Quantitative Analyst (Quant): Quantitative analysts, also known as "quants," use advanced mathematical models to solve complex financial problems. They work in hedge funds, investment banks, or financial research firms, utilizing actuarial knowledge of risk, statistics, and predictive modeling.
Government Actuary: Many actuaries work for government agencies, providing actuarial expertise on issues related to social security, pensions, public health insurance, and tax policy. Actuarial science graduates may work for federal or state government organizations, using their skills to analyze data, forecast costs, and make policy recommendations.
Academia/Teaching: Some graduates choose to pursue careers in academia, teaching actuarial science, statistics, or related subjects at colleges and universities. This path often involves conducting research in actuarial science, contributing to academic journals, and mentoring future generations of actuaries.
Consultant in Actuarial Services: Actuarial consultants provide expert advice to businesses, government agencies, or nonprofit organizations on how to assess and manage risk. They may offer specialized services in areas such as insurance pricing, financial planning, and business strategy.
