Graduates at ceremony

Actuarial science is the quantitative analysis of risk. In addition to mathematics and statistics courses, students in actuarial science take classes in finance, economics and computer programming.

At many universities, actuarial sciences is housed in the business department. We believe that the most successful actuaries have an extensive foundation in mathematics and in the broader liberal arts, and therefore our program is housed in our Department of Mathematical Sciences.

While you will take several business classes, you will also be heavily exposed to the broader context in which risk exists in our lives. Through economics courses and other courses in the social sciences and humanities, you will see how actuarial science is not practiced in a vacuum but has real-life implications and impact on businesses, individuals, and communities as a whole.

Students interested in actuarial science should make every effort to prepare themselves in high school by taking four years of challenging math classes. Ideally, students will enter college ready to start in the first semester of calculus.

As students progress in our program, they begin to take the professional exams required of actuaries, making themselves more attractive job candidates. Our location in Milwaukee, the largest city in Wisconsin and home to many large and small companies, also gives our students easier access to internships and part-time jobs compared to smaller cities. If you are looking for more advanced training beyond the bachelor's level, explore our Master's of Science in Mathematical Sciences. In this program, you can obtain graduate-level training in actuarial science.

Program Type


Program Format

On Campus
Request Information

Why study Actuarial Science at UWM? 

  • You love solving complex problems and explaining the solution to others.
  • You want a career that consistently ranks in the top 10 for salary, job satisfaction, stress level, and job security.
  • Our program is endorsed by the Society of Actuaries – one of only 17 programs in the U.S.
  • You want to join a program with a strong network of professional actuaries who engage with and mentor students – and often hire them when they graduate!
  • Milwaukee and the surrounding area are home to many companies that hire actuaries – Northwestern Mutual, American Family, Milliman, Willis Towers Watson, and more.

Course of Study—Bachelor of Arts Degree

To clarify any degree requirements, please contact the Director of Actuarial Science.

Actuarial Science Major Requirements

Preparatory Curriculum

Students must complete a Calculus Sequence: MATH 231 (or MATH 213), MATH 232, and MATH 233 (or equivalent). MATH 221 and MATH 222 are equivalent to MATH 231MATH 232, and MATH 233. Students majoring in actuarial science must have an average GPA of at least 2.500 in these courses. Additional preparatory curricula are required, as listed below.

Capstone Experience

Students must complete a Capstone Experience. The aim of the capstone experience is to encourage independent learning. Students complete a research paper in the context of this course, which satisfies the L&S research requirement. For Actuarial Science majors, the capstone is ACTSCI 599. Students must obtain consent of the instructor to enroll in ACTSCI 599.


Students must complete the courses listed below, including at least 15 upper-division (numbered 300 and above) credits in the major in residence at UWM. The College of Letters & Science requires that students attain at least a 2.0 GPA on all credits in the major attempted at UWM. In addition, students must attain a 2.0 GPA on all major credits attempted, including any transfer work.

Additional Preparatory Curriculum
ACTSCI 290Introduction to Actuarial Science3
MATH 234Linear Algebra and Differential Equations4
COMPSCI 250Introductory Computer Programming3
COMPSCI 251Intermediate Computer Programming3
BUS ADM 201Introduction to Financial Accounting4
ECON 103Principles of Microeconomics3
ECON 104Principles of Macroeconomics3
Core Curriculum
ACTSCI 391Investment Mathematics I4
MTHSTAT 361Introduction to Mathematical Statistics I3
MTHSTAT 362Introduction to Mathematical Statistics II3
BUS ADM 350Principles of Finance3
or BUS ADM 450 Intermediate Finance
ACTSCI 490Introduction to Actuarial Practice1
ACTSCI 491Actuarial Workshop FM1
ACTSCI 492Actuarial Workshop P1
MATH 583Introduction to Probability Models3
ACTSCI 591Investment Mathematics II3
ACTSCI 599Capstone Experience1
Select One of the Following Two Pairs:6
Actuarial Models I
and Actuarial Models II
Actuarial Statistics I
and Actuarial Statistics II
Select two of the following four courses:6
Regression Analysis
Time Series Analysis
Computational Statistics
Multivariate Statistical Analysis
Total Credits58

Recommended Electives

To achieve the best preparation for an actuarial career, students actively should pursue internship opportunities with insurance companies, consulting firms, and other organizations that require actuarial science knowledge. Once such an opportunity is secured, the student should enroll in ACTSCI 590. Students also should take courses in business communication (COMMUN 105ENGLISH 205), computer science (COMPSCI 351COMPSCI 557), and expand their knowledge in economics (ECON 325, ECON 450). 

Professional Development

For future advancement in the field of actuarial science, “Validation by Educational Experience” (VEE) credits are required. VEE credits may be earned from the Society of Actuaries (SOA) and Casualty Actuarial Society (CAS) with a grade of B- or better in the following courses:

MTHSTAT 361Introduction to Mathematical Statistics I (VEE-Mathematical Statistics)3
MTHSTAT 362Introduction to Mathematical Statistics II (VEE-Mathematical Statistics)3
ECON 103Principles of Microeconomics (VEE-Economics)3
ECON 104Principles of Macroeconomics (VEE-Economics)3
BUS ADM 201Introduction to Financial Accounting (VEE-Accounting and Finance)4
BUS ADM 450Intermediate Finance (VEE-Accounting and Finance)3

Courses taken at other universities may be used to meet the VEE requirement of the SOA/CAS.

Sample Four-Year Plan

There are hundreds of courses that satisfy various requirements, and courses in the major can be used. For example, Econ 103 counts towards the major and towards the Social Science GER. (This sample assumes no high school world language was taken and that the student placed into college-level Math and English.)

This sample shows just one possible pathway to earning a degree in four years. This plan does not replace the advice of your college or faculty advisor. You are cautioned to meet regularly with both to create a personalized plan that matches your particular circumstances rather than following this verbatim.

Sample Study Plan

Year 1
Fall Credits
MATH 115
Introductory Computer Programming
L&S Humanities/Cultural Diversity Course
Introduction to College Writing
ECON 103
Principles of Microeconomics (SS)
Spring Credits
Intermediate Computer Programming
College Writing and Research (Oral and Written Communication-Part A)
Introduction to Actuarial Science
MATH 231
Calculus and Analytic Geometry I (NS)
ECON 104
Principles of Macroeconomics (SS)
Year 2
Fall Credits
L&S Humanities/International
Introduction to Financial Accounting
MATH 232
Calculus and Analytic Geometry II
1st semester World Language other than English
Spring Credits
L&S Social Science/International (not economics)
Investment Mathematics I
Actuarial Workshop FM
MATH 233
Calculus and Analytic Geometry III
2nd semester World Language other than English
Year 3
Fall Credits
Actuarial Workshop P
Introduction to Mathematical Statistics I
Introduction to Actuarial Practice
GER Arts course
MATH 234
Linear Algebra and Differential Equations
3rd semester World Language other than English (Int'l)
Spring Credits
MATH 583
Introduction to Probability Models
Introduction to Mathematical Statistics II
Oral and Written Communication-Part B course
Intermediate Finance
4th semester World Language other than English (Int'l)
Year 4
Fall Credits
Actuarial Models I
or ACTSCI 596
Actuarial Statistics I
L&S upper-level Humanities
Investment Mathematics II
Regression Analysis
or MTHSTAT 566
Computational Statistics
L&S Natural Science with Lab
Spring Credits
Actuarial Models II
or ACTSCI 597
Actuarial Statistics II
Capstone Experience
Time Series Analysis
or MTHSTAT 568
Multivariate Statistical Analysis
L&S Humanities
L&S upper-level Social Sciences (not economics)

Students considering a major in Actuarial Science need to come to the department to declare their major and be assigned a faculty advisor. All courses selected for the major must be approved by the advisor, and since required courses are not offered every semester or year, students should check regularly with their advisors to plan their courses of study in order to finish in a coherent and timely fashion.

Letters & Science Advising

During your time at UWM, you may have multiple members of your success team, including advisors, peer mentors, and success coaches. Letters and Science students typically work with at least two different types of advisors as they pursue their degrees: professional College Advisors and Faculty Advisors. Departmental Faculty Advisors focus on the major while L&S College Advisors advise across your entire degree program.

College Advisors are located in Holton Hall and serve as your primary advisor. They are your point person for your questions about navigating college and completing your degree. College Advisors will:

  • assist you in defining your academic and life goals;
  • help you create an educational plan that is consistent with those goals;
  • assist you in understanding curriculum, major and degree requirements for graduation, as well as university policies and procedures;
  • provide you with information about campus and community resources and refer you to those resources as appropriate; and 
  • monitor your progress toward graduation and completion of requirements.

Faculty Advisors mentor students in the major and assist them in maximizing their development in the program. You will begin working with a Faculty Advisor when you declare your major. Faculty Advisors are an important partner and will:

  • help you understand major requirements and course offerings in the department; 
  • explain opportunities for internships and undergraduate research and guide you in obtaining those experiences; and 
  • serve as an excellent resource as you consider potential graduate programs and career paths in your field.

Students are encouraged to meet with both their College Advisor and Faculty Advisor at least once each semester. Appointments are available in-person, by phone or by video. 

Currently enrolled students should use the Navigate website to make an appointment with your assigned advisor or call (414) 229-4654 if you do not currently have an assigned Letters & Science advisor. Prospective students who haven't enrolled in classes yet should call (414) 229-7711 or email

Get Advising
  • Currently enrolled majors with questions about general degree requirements? Make an appointment with your assigned Letters & Science College Advisor through Navigate or email your advisor.
  • Currently enrolled majors with questions about the major specifically? Email your faculty advisor or the department directly.
  • Currently enrolled UWM students not yet in the College of Letters & Science? Email
  • Haven’t started classes yet at UWM? Email our admissions counselor at
Letters & Science Degree Requirements

In addition to the requirements for the major (shown on the "Requirements" tab of this page), students must fulfil a number of other requirements. Students must take a minimum of 120 credits to graduate, and these can be thought of as falling into one of three buckets. Note that some classes can fall into more than one bucket at the same time:

  • Courses in the major (typically 30 to 40 credits for a bachelor of arts degree)
  • General requirements such as world language, English, Math, etc. (typically 40 to 55 credits)
  • Other elective courses or a minor (5 to 30 credits)

Honors in the Major

Students in Actuarial Science who meet all of the following criteria can be awarded honors in the major upon graduation:

  1. A 3.000 cumulative GPA in all UWM graded credits;
  2. A 3.500 GPA over all UWM courses counting toward the Actuarial Science major;
  3. A 3.500 GPA over all upper-division UWM courses counting toward the Actuarial Science major; and
  4. The passing of at least three professional actuarial exams.

Students who believe they may qualify for honors in Actuarial Science should apply to the Mathematical Sciences Department during their last semester of study.

Honors in the College of Letters and Science

Dean's Honor List

GPA of 3.750 or above, earned on a full-time student's GPA on 12 or more graded credits in a given semester.

Honors College Degree and Honors College Degree with Distinction

Granted to graduating seniors who complete Honors College requirements, as listed in the Honors College section of this site.

Commencement Honors

Students with a cumulative GPA of 3.500 or above, based on a minimum of 40 graded UWM credits earned prior to the final semester, will receive all-university commencement honors and be awarded the traditional gold cord at the December or May Honors Convocation. Please note that for honors calculation, the GPA is not rounded and is truncated at the third decimal (e.g., 3.499).

Final Honors

Earned on a minimum of 60 graded UWM credits: Cum Laude - 3.500 or above; Magna Cum Laude - 3.650 or above; Summa Cum Laude - 3.800 or above.


The Society of Actuaries recognizes UWM as a Center of Actuarial Excellence, one of only 17 U.S. universities with this distinction.


Prospective Students (not yet enrolled at UWM)

Prospective students, contact our admissions counselor at or 414-229-7711.

Current Students

General questions such as how to declare, how to change a major, general education requirements, etc. should be directed to the College advising office at or 414-229-4654.

Specific questions about Actuarial Science, such as research opportunities, internship opportunities, major requirements, etc., should be directed to program director Panayiotis Skordi or advisor Jessica Gartner.