MS in Actuarial Science in USA: Deadlines, Eligibility, Fees, & Job Opportunities

Highlights

• Admission Terms: Masters in Actuarial Science in USA is offered to international students in the terms of Fall, Spring, and Summer.
• Upcoming Deadlines: The application deadlines for MS in Actuarial Science in USA for upcoming term is from September to December across universities.
• GRE Waiver: International students can get admission to MS in Actuarial Science in USA without GRE across top universities like Columbia University, and Boston University.
• Growing Employment Opportunities: Employment after MS in Actuarial Science in USA is projected to grow about 23% from 2022 to 2032, according to the U.S. Bureau of Labor Statistics, quite faster than the average for all occupations.

MS in Actuarial Science in USA is a 2 year graduate degree program. This program will give you the skills to assess financial risks in the insurance and finance fields, with the implementation of mathematics and statistics. You require a bachelor’s degree with a minimum GPA of 2.75 or above on a 4.0 scale (82%) for admission to the program. Supporting documents required for Masters in Actuarial Science in USA are as follows:

• GRE or GMAT score (Optional)
• English proficiency test score:
  • IELTS: 6.5-7.0
  • TOEFL-iBT: 90-100 overall
• SOP/ Essay
• 1-2 LORs
• CV
• Relevant work experience (If any)
• US student visa

MS in Actuarial Science in USA: Top Universities

Actuarial science is a field involving the use of mathematical and statistical methods. It is utilized to assess and manage financial risk, particularly in the insurance and finance industries. Some top universities for MS in Actuarial Science in USA, their respective deadlines and tuition fees are provided below:

Why Study Masters in Actuarial Science in USA?

Studying Masters in Actuarial Science in the USA can provide a range of benefits to students planning to advance their careers in this field. Some top reasons to choose USA over other countries to pursue MS in Actuarial Science in USA:

• Top Universities: The USA is home to many top-ranked institutions for actuarial science, including Columbia University, ASU and Boston University. A degree from these reputed institutes will lead you towards a successful career in this field.
• High Demand for Actuaries: The USA has a strong demand for actuaries, with the Bureau of Labor Statistics projecting a 23% growth rate in employment for actuaries between 2022 and 2032. This growth rate is much faster than the average for all occupations and indicates a strong need for actuaries in the US job market.
• High Graduate Salaries: Graduates with Masters in Actuarial Science in USA in the USA reportedly earn an average salary of 81,000 USD per annum (67.45 lakhs INR). This reflects the high return on investment after graduation, making USA an ideal destination for the program.

Masters in Actuarial Science in USA Admissions

For admission to Master of Actuarial Science in USA, international students require a 4-year bachelor’s degree or equivalent from a recognized institute. The universities expect a GPA of 3.0 or above to admit international students in this program. Some of the supporting documents required for admission to MSc Actuarial Science in USA are as follows:

Masters in Actuarial Science in USA Costs

The tuition fees for Masters in Actuarial Science in USA widely varies between 16,412 to 95,040 USD (13.66 to 79.13 lakhs INR). A graphical comparison between the tuition fees for MS in Actuarial Science in USA across some top universities, is provided below:

Cost of Living in USA

The average cost of living in USA for an Indian student is anticipated around 15,700 to 22,200 USD (13.07 to 18.48 lakhs INR). A breakdown of the cost of living in USA for an international student is provided in the following table: