Masters of Business Administration - Advanced Business Strategy Using A.I. and Analytics
MSOE's MBA in Advanced Business Strategy Using A.I. and Analytics is designed for p...
B.S. in Actuarial Science
Milwaukee, Wisconsin
INTAKE: March, Sept & Dec
Program Overview
MSOE’s Bachelor of Science in Actuarial Science is a mathematics-intensive, career-focused program designed to prepare students for high-demand roles in risk assessment, financial analysis, insurance modeling, and data-driven decision-making. Combining the rigor of advanced mathematics with business and computer science fundamentals, the program develops analytical thinkers who are adept at interpreting complex data to solve real-world financial and risk-related challenges. With an emphasis on professional readiness and exam preparation, MSOE actuarial science graduates are equipped to pass multiple Society of Actuaries (SOA) exams before graduation, making them highly competitive in the job market.
Curriculum: The Actuarial Science curriculum at MSOE integrates mathematics, statistics, finance, economics, and computer programming into a cohesive, application-oriented academic experience. Students build a strong foundation in calculus, linear algebra, probability, and mathematical modeling before progressing to actuarial-specific subjects such as interest theory, life contingencies, risk management, and financial mathematics. Programming courses in Python and R, along with hands-on data analytics labs, strengthen computational skills essential for the modern actuarial field. The program also includes coursework aligned with Validation by Educational Experience (VEE) requirements and offers dedicated exam-preparation courses for SOA exams such as P, FM, IFM, and SRM. A culminating senior project gives students the opportunity to apply their knowledge to real-world actuarial challenges in partnership with industry mentors.
Research Focus: While MSOE is primarily focused on undergraduate teaching, students in the Actuarial Science program have the opportunity to engage in applied research projects that explore emerging topics in financial risk, predictive analytics, and insurance modeling. Faculty-led initiatives within MSOE’s applied mathematics and data science disciplines often focus on statistical forecasting, healthcare modeling, and investment risk simulation. Students may also participate in the university’s Academic Undergraduate Research (AUR) program, which fosters hands-on problem solving, data analysis, and industry-based research collaboration—skills that are critical in the evolving actuarial profession.
Industry Engagement: MSOE maintains strong connections with leading employers in finance, insurance, healthcare, and consulting, giving actuarial science students access to internships, co-ops, and professional networking opportunities. Through partnerships with companies like Northwestern Mutual, Milliman, Humana, and CUNA Mutual Group, students gain valuable exposure to actuarial work environments and real-world risk assessment projects. Regular employer visits, career fairs, and workshops further enhance student engagement with the industry. In addition, MSOE’s career services team provides individualized support for internship placement, résumé development, and interview preparation—contributing to the program’s excellent placement rate.
Global Perspective: MSOE’s Actuarial Science program incorporates a global lens by addressing international standards, global insurance practices, and financial risk modeling across different regulatory systems. Students are exposed to global case studies, actuarial ethics, and cross-border financial trends, equipping them to work in multinational organizations or with international clients. While formal study abroad options are available, global perspectives are primarily woven into coursework and projects, helping students build the cultural awareness and adaptability required in today’s interconnected financial landscape.
Location
Milwaukee, Wisconsin
Score
IELTS 6.5
Tuition Fee
USD 52228
Undergraduate Entry Requirements
Academic Qualifications: Applicants for undergraduate programs typically require a minimum academic achievement of 65% or above in their previous academic qualifications.
English Language Proficiency:
- IELTS: Overall band score of 6.0 or 6.5 with a minimum of 6.0 in each component.
- TOEFL: Overall score of 82 or higher.
- PTE: Overall score of 56 or higher.
- DET (Duolingo English Test): Minimum score of 115.
Milwaukee School of Engineering (MSOE) offers a variety of scholarship opportunities specifically designed for international students to support their academic journey and make education more affordable.
Merit-Based Scholarships: International students applying to MSOE are automatically considered for merit scholarships based on their academic records, standardized test scores, and overall application strength.
Global Scholar Award: This prestigious award is granted to international students who demonstrate exceptional academic excellence, leadership skills, and community involvement. The Global Scholar Award helps reduce tuition fees significantly and supports high-achieving students throughout their studies.
External Scholarships and Funding: MSOE encourages international students to explore additional funding opportunities through external scholarships such as the Fulbright Program, EducationUSA Scholarships, and various private foundations or government-sponsored awards from their home countries.
Graduates with a B.S. in Actuarial Science from MSOE are well-prepared to excel in a range of analytical and decision-making roles across the finance, insurance, healthcare, and consulting industries. The program’s strong emphasis on mathematical modeling, risk analysis, programming, and professional exam preparation ensures that graduates are equipped with the skills and credentials to thrive in data-intensive environments.
Actuary: Analyzes financial risk using mathematics, statistics, and economic theory. Works in insurance, pensions, and finance to design policies, set premiums, and forecast liabilities. Most actuaries specialize in life, health, or property and casualty insurance.
Risk Analyst: Identifies, evaluates, and mitigates financial and operational risks for organizations. Uses quantitative models to assess potential losses and recommend strategies for minimizing exposure to uncertainty.
Data Analyst: Transforms raw data into actionable insights using statistical tools and programming languages. Supports business decisions in sectors such as finance, marketing, and healthcare through data visualization and trend analysis.
Insurance Underwriter: Evaluates insurance applications, determines policy terms, and sets premium rates by analyzing data related to risk and exposure. Collaborates with actuaries and sales teams to balance risk and profitability.
Financial Analyst: Assesses the performance of stocks, bonds, and other investments. Provides guidance to businesses and individuals by conducting economic research, forecasting trends, and preparing financial models.
Pension Analyst: Specializes in designing and managing retirement plans. Calculates benefit distributions, ensures compliance with pension laws, and performs actuarial valuations to maintain financial stability of pension funds.
Healthcare Analyst: Applies actuarial and statistical methods to model healthcare costs, utilization rates, and population health trends. Works with hospitals, insurers, and government agencies to optimize healthcare delivery and pricing.
Quantitative Analyst (Quant): Uses advanced mathematical and statistical techniques to develop financial models for trading, risk management, and investment strategies. Often employed by investment banks, hedge funds, and asset management firms.
Product Pricing Analyst: Determines pricing strategies for insurance products, financial services, or subscription models. Balances competitiveness with profitability through data analysis and predictive modeling.
Consulting Actuary: Works with consulting firms to provide expert advice on risk management, employee benefits, mergers and acquisitions, and financial modeling. Offers actuarial services to a variety of industries without being tied to a single employer.
