What to Expect

Actuarial science students take number crunching to a whole other level. They use math to solve real-life business problems.

"It's statistics that is applied to business and real life," says Jean Philippe Melie, who took a master's degree in actuarial math. He also has a master's degree in mathematics.

"I chose to become an actuary because it involves applied math, which is different from the pure math degree I took before."

The main focus of an actuarial science student is the professional exams of the Society of Actuaries (SOA), which can be quite grueling.

Brian Sprawka wrote the exams while taking a bachelor's degree in finance and business. "The exams are very mathematically demanding," he says. "You have to be pretty good in math to get through them."

How to Prepare

The exams can be tough, but you can improve your chances by doing a lot of preparation.

"If you didn't take any classes, it is suggested you study 100 hours for each hour of exam," says Sprawka. "Most exams are three or four hours, so they're pretty intense."

And they're not just about math. Some of the exam questions involve economics, business, finance and computer applications, for example.

Melie says most students wouldn't like to take the professional exams more than once, if they had a choice. But with a pass rate of 30 percent, sometimes there's no choice.

"It's challenging because you always have to deal with new problems," says Melie. "That's why you need a very good base in math. The exams are difficult in terms of the workload and the stress, but if you enjoy math, you won't find it difficult."