One might say that a career in actuarial science is risky business — and they wouldn’t be wrong. Actuarial science applies statistical and mathematical methods to analyze the financial consequences of risk. It’s a fast-growing field that is allowing many young people to jump in right after graduation. Olivet’s actuarial science program provides the building blocks for a rewarding career in the field.
“Students at Olivet College have the opportunity to develop close relationships with faculty and fellow students,” Janine Peters, associate professor of mathematics and chair of the Department of Mathematics and Computer Science, said. “Additionally, the experiential component of their studies increases students’ opportunities for graduate studies and professional careers upon graduation.”
Professor Peters notes that with an actuarial science degree, program graduates can pursue employment in the banking industry, corporate finance, investment management, insurance industry, pension and retirement benefit administration, and much more.
“The actuarial science major at Olivet combines a strong foundation in mathematics with essential topics in business such as economics, accounting and financial management,” Professor Peters said.
First-year student Delaney Peters believes that with the strong base of knowledge taken from Olivet, there is “ample opportunity to pursue a career in this field.”
“The analytic background that you establish at Olivet will allow you to be useful in any field,” Delaney said. “My major is providing me with a variety of skills that will make me a valuable asset to my employer. And with the support of my professors, I’ve learned how to be more confident in myself and my abilities.”
Delaney plans to enter the health care field after graduation. While she aims to work in the insurance or risk management department in a hospital or for a pharmaceutical company, she would eventually like to pursue a career in the government, specifically focusing on the modification of the FAFSA. True to Olivet’s mission, Delaney hopes to improve education for all.
“I feel that education is important, and students should be able to continue their academic career after high school, regardless of their financial situation,” she said.
For senior Emma Essen, the program has cemented her passion for actuarial science.
“The program has shown me what I truly want to do when I graduate from Olivet,” Emma said. “I believe I have a strong basic understanding of many helpful programming languages that will make me look more desirable to future employers. I believe this is a really promising career with many opportunities.”
Beyond the technical skills, Emma has also learned valuable life lessons from her classes.
“Above all, I’ve learned that hard work and showing your passion in whatever you do will pay off in any situation, including your career,” she said.