Actuarial Science, Master of Science

Applicants to The Tobin College of Business Graduate programs will automatically be considered for GMAT/GRE waivers. Applications with a GPA below 3.25 may be strengthened by submitting a GMAT/GRE score. 

The actuarial profession is often ranked as one of the best career paths to pursue. The number of actuaries is expected to grow by 18 percent between 2019 and 2029, according to the Bureau of Labor Statistics. This strong demand for actuaries makes the MS in Actuarial Science an attractive choice for someone with strong quantitative skills.

The School of Risk Management, Insurance and Actuarial Science of The Peter J. Tobin College of Business at St. John’s University is recognized by the Society of Actuaries as a Center of Actuarial Excellence since 2009, is a winner of University Award from the Casualty Actuarial Society, and is a Global Center of Insurance Excellence designated by the International Insurance Society. Since Fall 2022, students can earn exemption from certain SOA exams.The Master of Science in Actuarial Science program offered by the School of Risk Management, located on our Manhattan Campus, provides career preparation to students seeking entry into the profession of actuarial science. The curriculum is designed to enhance students’ critical and analytical thinking, as well as prepare them to pass professional examinations required to be a credentialed actuary.

The Manhattan campus of the School of Risk Management, Insurance and Actuarial Science provides its students proximity to the world’s financial center. With the School’s extensive network of professional alumni and its involved corporate Board of Overseers, our students have vast networking and career opportunities. Many students work as paid interns during the academic year and summer, and enjoy interaction with risk actuarial professionals and alumni who visit the campus regularly. The Ellen Thrower Center for Apprenticeship and Career Services prepares and connects actuarial students with internships and full-time jobs through a variety of activities including two actuarial and risk management career fairs every year.

Courses

The program consists of 10 courses for a total of 30 credit hours, and can be completed by full-time students in 18 months. The courses cover the syllabi of four Society of Actuaries examinations (FM- Financial mathematics, IFM- Investment and Financial Markets, STAM – Short Term Actuarial Mathematics, and LTAM – Long Term Actuarial Mathematics) and three VEE (Validation by Educational Experience) subjects (Economics, Applied Statistics and Corporate Finance). Students who pass actuarial exams during their studies will be reimbursed of their exam fees through a generous corporate fund. A writing-intensive course, RMI 621 Risk Project, allows students to work on an actuarial related topic of their interest.

Below is the curriculum along with the related Associate of the Society of Actuaries exam or education credit.  

Fall Semester: 

ACT 601 Financial Mathematics I (Exam FM) 
ACT 603 Actuarial Modeling I (Exam STAM) 
ACT 610 Mathematical Statistics (VEE – Mathematical Statistics)

Spring Semester: 

ACT 604 Actuarial Modeling II (Exam STAM)
ACT 611 Modern Actuarial Statistics (Exam SRM) 
RMI 660 Finance for Actuaries (VEE – Accounting and Finance) 

Summer Session: 

RMI 621 Risk Project 

Fall Semester:

ACT 602 Financial Mathematics II (Exam IFM) 
ACT 615 Long Term Actuarial Mathematics 
ACT 600 Actuarial Economics (VEE - Economics)

Starting Fall 2022,  students can earn exemption from SOA preliminary exams by achieving outstanding performance in certain actuarial courses as follows.

Exam FM: ACT 601
Exam SRM: ACT 611
Exam FAM-S: ACT 603/604
Exam ASTAM: ACT 603/604.

These courses have earned UEC (University-Earned Credit) status from the SOA. 

Career Outcomes

The Ellen Thrower Center for Apprenticeship and Career Services at The School of Risk Management, Insurance and Actuarial Science in Manhattan is dedicated solely to supporting the career objectives of students enrolled in the risk, insurance and actuarial science degree programs.  With personalized career advising and referrals, a strong alumni network, speaker panels, networking events and two specialized career fairs each year, our students successfully connect with internship and job opportunities. 

Our graduates are working in the fields of enterprise risk management, corporate risk management, commercial underwriting, claims and brokerage, consulting and actuarial.

The following employers work with the Thrower Center and recently hired MS Actuarial Science graduate students as interns or in professional positions:

• AIG
• AEGIS
• AXIS Insurance
• Buck Consulting
• Deloitte
• Prosperity Life Insurance
• MIB Solutions
• New York Life Insurance
• Starr Companies
• TriNet
• Verisk

Academic Scholarships

Applicants who have passed the Society of Actuaries Exam P are eligible for consideration for the $10,000 Promise Scholarship. This scholarship recognizes the significant academic and professional potential of students who have passed the exam prior to beginning their studies in the M.S. in Actuarial Science. Highly qualified students can receive in total up to $35,000 in scholarship awards from the Greenberg School of Risk Management, Insurance, and Actuarial Science.

Admission

Application Requirements

All applicants must possess a baccalaureate degree from an accredited institution or the international equivalent prior to enrollment at the graduate level. In addition to the application form and non-refundable application fee candidates should submit the following:

• Statement of professional goals and resume which can be uploaded as part of the  application for admission
• Official transcripts from all undergraduate, graduate, and professional schools attended. 
• Two letters of recommendation, obtained from professional or academic references.
• Official TOEFL, IELTS, or Duolingo scores are required for applicants whose native language is not English.
• Students with international credits must also submit a course-by-course foreign credit evaluation with GPA calculation from a NACES member.
• Applicants to The Tobin College of Business Graduate programs will automatically be considered for GMAT/GRE waivers. Applications with a GPA below 3.25 may be strengthened by submitting a GMAT/GRE score.  

For additional information, please contact:
Office of Graduate Admission
The Peter J. Tobin College of Business
8000 Utopia Parkway
Suite 114
Queens, NY 11439
718-990-1345
[email protected]

For more information about the curriculum, you may contact the program director, Ping Wang, Ph.D.

STEM Visa Extension for International Students

The Master of Science in Actuarial Science is a science, technology, engineering or mathematics (STEM) field of study. Students with an F-1 visa who complete this field of study may be eligible to receive a STEM-based optional practical training (OPT) extension. Contact the International Student and Scholar Services Offices at 718-990-6083 or [email protected] for additional information.