EC Launches New Actuarial and Financial Science Major

Elmira, NY (03/08/2021) — Elmira College, which offers 25-plus undergraduate academic programs, prepares students for a variety of exciting career paths. The newest academic program, the actuarial and financial science major, provides students the critical thinking skills, data analysis, and risk assessment skills required to succeed within a high-demand career field.

Available for current and incoming students, this degree joins the fields of mathematics, finance and statistics. As part of the degree requirements, courses will prepare students for two of the challenging Society of Actuaries (SOA) preliminary examinations and three SOA Validation by Educational Experience areas.

"Companies are increasingly working with complex data to assess risk and make business decisions," said Adam Giambrone, assistant professor of mathematics. "They are looking for people with the critical thinking skills needed to help analyze and visualize data. To meet this demand, our interdisciplinary program combines mathematics and statistics coursework with business and finance coursework. As a result, we are able to provide students the specific skills needed for an actuarial career as well as a strong foundation that will allow them to pursue a wide variety of career paths, including those leading to positions as a budget analyst, cost estimator, financial analyst, or insurance underwriter."

According to the Bureau of Labor Statistics, an entry-level position in the field of actuarial science typically requires only a bachelor's degree and actuaries earn a median salary of $100K per year. Salaries will vary according to state, experience and certification level. The number of actuarial positions is projected to grow 18% over the next 10 years, much higher than the 4% growth projected nationally among all occupations.

"Our small class sizes and campus community at EC give students the individual attention and support that will help broaden their view of the world, develop their collaboration and communication skills, and prepare them to do great things in their future careers," said Giambrone.

In addition to preparing students for the required actuarial certifications, Elmira College provides students real-world opportunities that put theory into practice. All EC students can take advantage of the College's unique Term III opportunities to study abroad. As part of their graduation requirements, students are also encouraged to engage in the community and explore career opportunities by completing an internship.

To learn details about the new major, visit the actuarial financial science webpage.

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