The Peter J. Tobin College of BusinessManhattan Campus
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 2014 and 2024, 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. 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.
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 – Finance and Accounting)
RMI 621 Risk Project
ACT 602 Financial Mathematics II (Exam IFM)
ACT 615 Long Term Actuarial Mathematics
ACT 600 Actuarial Economics (VEE - Economics
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:
Applicants accepted to this program are automatically considered for scholarship based on their academic qualifications. Scholarships range in amount from $5,000 to full tuition.
All candidates with strong quantitative skills are encouraged to apply for the MS-ACT program. Two semesters (at least six credit hours) of college-level calculus and one semester (at least three credit hours) of calculus-based probability courses are required. Applicants who have passed the professional exam Probability (Society of Actuaries Exam P/Casualty Actuarial Society Exam 1) will receive scholarships of at least $10,000 each if accepted. The highest level of scholarship, $35,000, can cover 90 percent of the program tuition.
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:
*MS applicants may be eligible for a GMAT/GRE waiver with a cumulative 3.25 GPA or higher. To be considered for the waiver, please submit the online application, all transcripts, and resume. International Students should also submit the foreign credit evaluation and TOEFL/IELTS scores. Once complete, please email tob[email protected] to request waiver consideration.
For additional information about the application process, please contact:
The Peter J. Tobin College of Business
Office of Graduate Admission
8000 Utopia Parkway
Queens, NY 11439
(718) 990-1345[email protected]
For more information about the curriculum, you may contact the program director, Ping Wang, Ph.D.
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.
For additional information on the Master of Science in Actuarial Science, please contact the faculty program director:
101 Astor Place, 223