Actuaries are professionals who use their strong quantitative skills to place a price on risk. Pricing risk allows insurance companies to provide coverage against a variety of loss events, occurrences that can range from a tree falling on a house to a satellite launch failing to a cargo ship sinking. The pricing of risk is also essential for governments to successfully provide social welfare programs and insurance protection against catastrophic risks such as flooding.
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.
- Degree Type
- MS
- Area of Interest
- Business
- Associated Colleges or Schools
- Program Location
- Manhattan Campus
- Online
- Required Credit Hours
- 30
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.
Center of Actuarial Excellence
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. Students can earn exemption from certain SOA exams.
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Casualty Actuarial Society University Recognition Program – Gold Level
St John’s University is recognized by the CAS for our commitment to supporting students on the property and casualty actuarial career path, the dedicated property/casualty insurance courses, placing property and casualty actuaries on the faculty, and graduating actuarial students who work in the P&C field and have obtained credits for CAS credentialing requirements.
Connections to World's Financial Center
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.
ACT 601 Financial Mathematics I (Exam FM)
ACT 603 Actuarial Modeling I (Exam STAM)
ACT 610 Mathematical Statistics (VEE – Mathematical Statistics)
ACT 604 Actuarial Modeling II (Exam STAM)
ACT 611 Modern Actuarial Statistics (Exam SRM)
RMI 660 Finance for Actuaries (VEE – Accounting and Finance)
RMI 621 Risk Project
ACT 602 Financial Mathematics II (Exam IFM)
ACT 615 Long Term Actuarial Mathematics
ACT 600 Actuarial Economics (VEE - Economics)
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. Please note that UEC-approved courses be proctored and in-person. Those who choose the online version of the program must take all exams (midterm and final) of the courses listed above at the Manhattan campus. That translates to two or three days per semester during which students must be in NYC.
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
Success at St. John's
From St. John's University to Prudential Financial: This Senior Actuary shares his success secrets.
Drew McClain ’18SRM earned a Master of Science degree in Actuarial Science from the School of Risk Management, Insurance and Actuarial Science (now the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science) at The Peter J. Tobin College of Business at St. John’s University on the Manhattan, NY, campus.
The Brooklyn, NY, resident is a Senior Actuarial Associate with Prudential Financial.
Drew McClain ’18SRM The Peter J. Tobin College of BusinessHighlight
St. John’s University helped me acclimate to the corporate environment. Mock interviews are available for practice and networking sessions. St. John’s also has knowledgeable professors who have industry experience.
From St. John's to Lockton Re LLP: How a Master's Degree in Actuarial Science Unlocked a Successful Career
Jamie (Bauman) Konopko ’20GSRM graduated with a Master of Science degree in Actuarial Science from the Maurice R. Greenberg School of Risk Management, Insurance and Actuarial Science at The Peter J. Tobin College of Business at St. John’s University on the Manhattan, NY, campus.
Jamie (Bauman) Konopko ’20GSRM The Peter J. Tobin College of BusinessHighlight
The Yardley, PA, resident is Associate Actuary at Lockton Re LLP, in Philadelphia, PA. This reinsurance business helps large insurance companies purchase policies from other insurers to limit their exposure to unexpected events or disasters.
Academic Scholarships
Accepted students are automatically considered for academic scholarships that range from $5,000 to full tuition. Students accepted to the M.S. in Actuarial Science degree program who have two Society of Actuaries exams completed before classes begin (one must be exam P), are eligible to receive a $40,000 scholarship award. Funds are awarded on a first-come, first-serve basis.
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.
- One letter 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.
- SOA/CAS Exam P or 6+ credits in college calculus and 3+ credits in calculus-based probability are required to apply.
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]
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.
Faculty Program Director
For additional information on the Master of Science in Actuarial Science, please contact the faculty program director:
