Put Actuarial Science In
Your
Future
Muma College of Business | The Baldwin Group School of Risk Management and Insurance
College of Arts and Sciences | Department of Mathematics and Statistics
Table of Contents
Why Actuarial Science?
3
The Actuarial Advantage
4
Pathways to Actuarial Science
5
Student Experience
6
Leadership
7
Why Actuarial Science? If you enjoy working with numbers, solving complex problems, and making a real impact through a respected profession, actuarial science offers a smart and rewarding career path — especially for students with strong quantitative skills and a passion for applying them to real-world risk-related challenges. DIVERSE CAREER PATH OPPORTUNITIES
Insurance pricing and reserving Investment and asset management Government and public policy Climate risk and catastrophe modeling Health analytics Tech and data science A PROFESSION AND NOT A JOB
Becoming an actuary is a commitment to a professional path, much like becoming a Certified Public Accountant (CPA), lawyer, or physician. It requires passing a series of challenging exams and adhering to high standards of practice. The University of South Florida (USF) programs are designed to prepare students for these actuarial exams, laying a strong foundation for professional growth and advancement toward becoming a Fellow of the Society of Actuaries. COMPENSATION
Not only is there high demand for actuaries, but a career path in actuarial science offers impressive and competitive entry-level compensation, as well as substantial earning potential throughout one’s career. While specific entry-level salaries can vary depending on factors such as location, company size, and the number of professional exams passed, the field generally offers competitive starting salaries beginning at 1 $78,000-$80,000 annually. With over 1350 practicing actuaries and an average salary of $122,000, Florida 2 continues to be a great location for actuarial science professionals.
Growing Demand The U.S. Department of Labor, Bureau of Labor Statistics projects 22% growth for actuaries (2024– 2 2034). Separately, DW Simpson reports 5% year-over-year salary increases for early-career actuaries 3 (ASA/ACAS).
22
5
Job Growth in
Year-over-Year
the next decade
Salary Increases for Early-Career Actuaries
1 Salary.com, Actuary Salaries 2 Bureau of Labor Statistics, https://www.bls.gov/oes/2023/may/oes152011.htm 3 DW Simpson, https://www.dwsimpson.com/2025/07/24/2025-actuarial-salary-trends-what-employers-need-to-know/
3
Get the Actuarial
Advantage
The USF Pathways to Actuarial Science (Minor or Concentration) provide a comprehensive framework that combines analytic rigor with real-world expertise — opening doors to a high-demand career in actuarial science.
Your Edge In Data-Driven World Actuarial science stands at the forefront of the data landscape applying sophisticated mathematical and statistical techniques to evaluate and mitigate financial uncertainties across a multitude of industries. Actuarial science underpins the stability of insurance companies, guides investment strategies in finance, and informs critical decisions in consulting and beyond.
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02
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Real-world challenges
Skill-building
Competitive Advantage
The program emphasizes the development of robust problem-solving abilities, training students to apply mathematical and statistical models to address real-world challenges encountered by both individuals and organizations.
The program is designed to cultivate strong analytical skills, enabling students to effectively interpret complex data, rigorously assess potential risks, and make wellinformed decisions in the face of uncertainty.
The program offers students a distinct advantage by equipping them with a highly sought-after skill set that enhances their analytical capabilities and broadens their career prospects.
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Muma College of Business | The Baldwin Group School of Risk Management and Insurance
College of Arts and Sciences | Department of Mathematics and Statistics
Pathways to Actuarial Science Actuarial Science Minor
Actuarial Studies
(Business and Non-Business Majors)
Concentration
College of Arts and Sciences Muma College of Business
Department of Mathematics and Statistics
Actuarial Exam Related Courses
MAP 3170: Intro to Actuarial Math (3 credits) STA 4442: Intro to Probability (3 credits)
Actuarial Exam Related Courses
MAP 3170: Intro to Actuarial Math (3 credits) STA 4442: Intro to Probability (3 credits)
Risk Management and
Validation by Educational Experience
Insurance Courses
(VEE) courses
RMI 3011: Principles of Insurance (3 credits) RMI 4226: Risk & Insurance Data Analytics (3 credits) One Focused Insurance Markets Course: Life/Health, Employee Benefits, OR Property & Casualty (3 credits)
ACG 2021: Principles of Financial Accounting (3 credits) ECO 2023: Principles of Microeconomics (3 credits) ECO 2013: Economic Principles (Macroeconomics) (3 credits) STA 4322: Intro to Mathematical Statistics I (3 credits)
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Student Experience My passion for math and data science drew me to actuarial science. The Baldwin Group School of Risk Management and Insurance's focus on the broader insurance industry — claims, underwriting, and brokerages — has been a major advantage. This unique curriculum has given me a well-rounded understanding of the field, which will give me an edge as I begin my career.
Gabe Bullock, Class of ’27 Gamma Iota Sigma Vice President (’24 -’25)
I love using math to understand complex, real-world problems—becoming an actuary is just that. With the support of The Baldwin Group School of Risk Management and Insurance, I’ve gained invaluable knowledge of the insurance industry. My experiences at USF have encouraged my curiosity for learning and strengthened my confidence in my future as an actuary. Macy Daram, Class of ’25 Gamma Iota Sigma Secretary and Chapter Operations (’24 -’25)
6
Leadership
Randy Dumm
Dmytro Savchuk
Po-Lin Wang
Jiwoong Kim
Director, The Baldwin Group School of Risk Management and Insurance Muma College of Business
Chair, Department of Mathematics and Statistics College of Arts and Sciences
Assistant Professor, The Baldwin Group School of Risk Management and Insurance Muma College of Business
Assistant Professor Department of Mathematics and Statistics College of Arts and Sciences
From the
Director
This joint venture with the College of Arts and Sciences provides qualified students interested in pursuing a career in actuarial sciences with distinct paths. It allows students entering USF from high school, transferring from community colleges, or those currently enrolled at USF, to opt for the path that best suits their needs and long-term objectives. This effort is unique among universities offering programs in actuarial science. We look forward to working together to build a truly exceptional educational experience that serves our students and supports the increasing demand for highly skilled actuarial science talent. At The Baldwin Group School of Risk Management and Insurance, we are dedicated to developing and shaping the next generation of risk professionals. We are committed to continuing this strong tradition and using our resources to work with and develop those mathematically-talented problemsolvers to become the next generation of specialized risk professionals we call actuaries!
From the
Chair
Actuarial science combines math, statistics, data analysis, and risk assessment. There is a natural synergy between The Baldwin Group School of Risk Management and Insurance and the department of Mathematics and Statistics faculty who teach courses with actuarial applications. The department looks forward to sustaining and furthering this partnership in the years to come and to helping our students to achieve their career goals. USF currently meets the Society of Actuaries (SOA) classification as an Introductory Curriculum (IC) program, but we anticipate moving to the Advanced Curriculum (AC) classification in the next two years. This would nicely position USF as a school-ofchoice for employment recruiters who need to meet the growing demand for actuaries. The department of Mathematics and Statistics offers several undergraduate degrees, but the Actuarial Studies concentration of the Bachelor of Science in Computational and Applied Mathematics was specifically designed to appeal to, and well prepare, prospective actuaries. It has quickly become one of our most sought-after degrees!
7
Put Actuarial Science in Your Future!
Muma College of Business
College of Arts and Sciences
The Baldwin Group School
Department of Mathematics
of Risk Management and
and Statistics
Insurance
Dr. Randy Dumm
Dr. Dmytro Savchuk
(941) 359-4245
(813) 974-4989
rdumm@usf.edu
savchuk@usf.edu