You are here
Statistics and Actuarial Science B.S.
The science of statistics is concerned with generating and analyzing data. Actuarial science applies statistical methods to assess risk in the insurance and financial industries. The statistics and actuarial science major prepares students for careers in a wide variety of fields, from banking and government to health care. Advisors have information on the national actuarial examinations.
- Active learning environment
- Access to state-of-the–art instrumentation
- Focus on undergraduate teaching and research
- Know the basic definitions, notations, and theorems of mathematics/statistics.
- Be able to apply statistical and mathematical techniques and models to solve problems.
- Know how to write programming code and use mathematical/statistical software to analyze data and interpret results.
- Be able to write a coherent description of a mathematical or statistical presentation.
Career opportunities for mathematics and statistics are extensive. Obvious careers involve working as an actuary for an insurance or consulting company, or as a teacher. Most mathematics and statistics majors, however, use their problem solving skills in the business world – analyzing processes, data, and algorithms, or in government research. Employers hire mathematics and statistics majors because employers know those students are able to work on hard problems, and to make logical decisions.
Admissions and Scholarships
In addition to SCSE scholarships, our department has several scholarships including, The James L. Nelson Memorial Scholarship, The UMD Lounsberry Scholarship, The Robert L. Senkler Scholarship, The Faculty Excellence Scholarships, The Faculty Excellence Scholarships, The Grace Peterson Memorial Scholarship, The Dr. Sylvan D. Burgstahler Memorial Scholarship, The Willam and Rhonda Krossner Scholarship in memory of Professor Mark Kac, The Mathematics and Statistics Faculty Scholarship in honor of William Lokke, and The Barry R. and Kang Ling James Scholarship for Mathematics and Statistics.
We have 2 main clubs on campus. The Math club is committed to fostering a love for mathematics and problem solving. Meetings are focused on building community, service and discipline-related activities. At meetings, students are given problems from math Magazines such as Math Horizons to solve and discuss. This teaches students new problem solving techniques and helps student gain mathematical insight. Students compete nationally in the Putnam Exam and in the Mathematical Contest in Modeling.
The Actuary Club strives to help students pass actuarial exams and prepare for employment. There are a variety of events the club hosts to strengthen students' leadership, networking, professional, and actuarial skills. The club also provides students with the option to complete the Validation by Educational Experience Credit. Requirements for this credit contains topics not incorporated in the preliminary actuarial exams but that are still considered necessary skills for an actuary.
Recent UMD Graduates Job Placement Data & Employers
Here's a sampling of positions Statistics & Actuarial Science B.S. grads have attained six months to one year after graduation.
- Budget Analyst - Air National Guard Bureau Readiness Center, Joint Base Andrews, MD
- Data Specialist - Renovation Systems, Plymouth, MN
- Actuarial Analyst - Securian Financial Group, St. Paul, MN
- Business Analyst - Wells Fargo, Minneapolis, MN
- Graduate School, Actuarial Science, Columbia University, New York, NY
- Graduate School, Statistics, Rice University, Houston, TX