Bachelors of Arts: Actuarial Science
From Math Class to Dream Job
Being an actuary is one of the best careers you’ve probably never heard of. With only about 30,000 actuaries in the U.S., demand is high, the pay is great, and job growth is expected to soar.
Actuaries use math, stats, and problem-solving to tackle real-world challenges in insurance, finance, consulting, and government. You can earn a six-figure salary—without grad school—if you love math and want a career that’s both challenging and rewarding.
About this Program:
UMF’s Actuarial Science program gives you a solid foundation in mathematics, statistics, finance, and economics — all essential for risk assessment and management. You’ll develop strong problem-solving skills and learn to apply mathematical models to real-world financial and insurance scenarios.
You will get to choose interesting classes specifically tailored to this program, such as:
- Actuarial Probability
- Statistical Models
- Data Mining
- Data Analysis
- Intermediate Microeconomic Theory
- Intro to Financial Accounting
- Interest Theory
You will also take courses in the Arts, Humanities, Mathematics, Natural Sciences and Social Sciences.
Program Requirements
You’ll benefit from small class sizes and personalized faculty mentorship, as well as the chance to work on real-world data analysis projects. The program prepares you for the first two professional actuarial exams and offers opportunities for internships with insurance companies, financial firms, and government agencies.
Graduates are prepared for careers as actuaries in insurance, finance, consulting, and government. Other possible paths include data analyst, risk manager, financial analyst, or related quantitative positions in business and industry.
At UMF you can find out, first-hand, what it’s like to work in the Actuarial field while you learn valuable career skills and develop a strong network of professional contacts.
Here’s a short list of where our students have recently interned:
- Unum Insurance, Portland, Maine
- Epic RPS Financial, Portland, Maine
- BerryDunn Assurance, Tax, and Consulting, Portland, Maine
- Sun Life Financial, Portland, Maine and Wellesley, MA
- Elevance Health, Indianapolis, IN
- Maine Bureau of Insurance, Gardiner, Maine
- Hannaford Supermarket Labor Productivity Group, Cumberland, Maine
- Maine Dept. of Health & Human Services, Augusta, Maine
- Maine Health Research Institute, Augusta, Maine
- And more
UMF’s Actuarial Science program remains current in the industry by seeking guidance from an Actuarial Advisory Board consisting of at least five active, professional actuaries throughout Maine. It provides advice regarding curriculum, desired technological skills, and internships.