Learn to Analyze and Manage Risk
The Master of Science in Actuarial Science at Boston University’s Metropolitan College (MET) provides you with the tools and knowledge to excel as an actuary. A solid foundation in calculus and multivariate calculus is recommended for applicants to this program.
The world is filled with uncertainty and risk—and successful businesses need to quantify these risks. With their mathematical ability, analytic tools, and computer programming skills, actuaries are uniquely qualified to develop solutions to increasingly complex problems and to help quantify and manage risk for businesses in a variety of industries. By using data and models, actuaries have the expertise to determine the probability of certain future events. As an actuary, you develop ways to mitigate the impact of adverse financial circumstances on businesses, governmental agencies, and other organizations.
The MS in Actuarial Science at BU MET includes two optional concentrations:
Program at a Glance
- On Campus
- Part-Time or Full-Time Study
- STEM Designated
- 34 Credits
- 16–24 Months to Completion
- 10 Core Faculty
- No GRE/GMAT
- Tuition & Fees Range—Part-Time Study*: $23,190–$26,590
*Based on 2024–2025 Boston University tuition and fees. Merit scholarship may reduce cost.
Prepare for a Rewarding Career as an Actuary
With a master’s degree in Actuarial Science from BU MET, you are well-positioned to work in a variety of traditional and non-traditional actuarial roles. Actuarial skills are valued in any field in which strong abilities in predictive risk analysis, mathematics, and statistics are essential to developing business strategies. Though actuaries work in a variety of areas, they are most notably integral in the insurance industry. Their analytic skills and ability to quantify risk and uncertainty make actuaries invaluable to insurance and financial teams, and essential to health insurance, life insurance, property and casualty insurance, and pension and health consulting firms. Actuaries are also employed by government agencies, accounting firms, banks, and financial services companies.
According to the Society of Actuaries (SoA) and the Casualty Actuarial Society (CAS), “Actuaries are the leading professionals in finding ways to manage risk. It takes a combination of strong analytical skills, business knowledge, and understanding of human behavior to manage today’s complex risks facing our society.” As industry practitioners, BU MET’s Actuarial Science faculty not only teach the basic information you need to succeed in an actuarial field, but give you the insight to “think like an actuary” when confronted with a real-world problem. Whether you decide to specialize in health insurance, life insurance, property and casualty insurance, pension and retirement benefits, enterprise risk management, or a less traditional actuarial role, your Actuarial Science master’s degree from Boston University will be valuable to you and to your employer.
Preparation for Professional Examinations
Courses in BU MET’s Actuarial Science master’s degree program are designed to not only help you have a deep understanding of the subject matter but also to assist you in preparing for examinations offered by the SoA and CAS. These examinations are essential in an actuary’s career. Students who follow the SoA exam track will typically work in fields such as life insurance, health insurance, long-term care insurance, and pension plans, all of which use the probability of mortality. Those who follow the CAS exam track will typically work for companies that develop premiums for risks that are more quantifiable, such as automobile and homeowners insurance.
Society of Actuaries’ “UCAP-AC” designation
BU is the only university in northern New England that offers a master’s degree in Actuarial Science
Learn More
“The program provides a great opportunity to learn about the actuarial profession from real, working actuaries on top of the standard learning process for the degree and actuarial exams. Students should take full advantage of having experienced actuaries leading the courses and take any opportunities they can to learn and connect with them.”—Martin Chi (MET’12), Actuarial Analyst, Towers Watson
What Is My Career Outlook as a Graduate of This Program?
30,000
Total number of US Jobs
4,241
Annual job openings
+2.9%
Annual job openings
23%
Projected ten-year growth in jobs
(faster than average)
$120K
Median annual salary
Common job titles include:
- Actuary
- Actuarial Associate
- Actuarial Student
- Actuarial Consultant
- Statistician
- Forecast Analyst
Employers seek expertise in:
- Financial mathematics
- R
- Excel
- Statistical analysis
- Statistical methods
- Statistical modeling
- Data science
- SAS
Why Study to be an Actuary at BU MET?
- Active Learning Environment: BU MET’s Actuarial Science graduate courses ensure that you gain practical skills solving real problems alongside actuaries who work in the industry. A selection of programming and computer courses bring real-world examples into lectures, ensuring that you gain a deep knowledge of data tools and their application.
- Career Counseling: MET’s Career Development office and BU’s Center for Career Development offer a variety of job-hunting resources, including one-on-one career counseling by appointment for both online and on-campus students.
- Engaged Faculty: BU MET’s Actuarial Science master’s degree program is taught by SoA- and CAS-credentialed faculty who bring unique expertise and practical insight into the classroom, using actual actuarial problems as examples to supplement course material.
- Capstone in Actuarial Science: This unique course immerses you in “real-world” challenges via the analysis of risk factors that are now relevant to actuarial work, including changes in mortality trends, new medical breakthroughs, and the impact of climate change.
- Extensive Network: Graduates of the MS in Actuarial Science program benefit from faculty members’ connections to the industry and from a local pool of successful, practicing alumni who work for organizations such as Willis Towers Watson, Blue Cross Blue Shield, John Hancock, Liberty Mutual, and the Massachusetts Department of Insurance.
- STEM Designated: Eligible graduates on student visas have access to an Optional Practical Training (OPT) of 12 months and an extension for up to 24 additional months.
- Student Support: Enjoy an exceptional student-to-instructor ratio, ensuring close interaction in the classroom with faculty mentors. The program’s faculty are readily available for advice and support.
- Valuable Resources: Make use of Boston University’s extensive resources, including the Center for Career Development, Educational Resource Center, Fitness & Recreation Center, IT Help Centers, Mugar Memorial Library, Center for Antiracist Research, Howard Thurman Center for Common Ground, George Sherman Union, and many others.
- Flexible Schedule: Study at the pace that works for you. Complete the program in as little as one year or take one or two courses per semester and complete the degree over several years—ideal for students who are working full time. Students may begin the program in the fall, spring, or summer semester.
- Track Record: Learn from the best. BU MET’s master’s degree program in Actuarial Science has been graduating successful actuarial students for over 25 years.
- Merit Scholarships: US citizens and permanent residents are automatically considered during the application process and nominated based on eligibility. Learn more.
Master the Tools of the Actuarial Science Profession
Metropolitan College will help you acquire the skills you need to become a successful actuary in today’s competitive job market. With the MS in Actuarial Science and its concentrations in Finance and Insurance, along with the Graduate Certificate in Actuarial Foundations and Graduate Certificate in Actuarial Science, BU MET provides an excellent academic foundation and practical exposure to real-world business environments.
If you have an analytical mind and enjoy working with financial theory, a career as an actuary could be an excellent opportunity for you. Actuarial science uses a combination of statistics, mathematics, economics, finance, data science, and other fields to allow actuaries to make crucial policy decisions in an unpredictable business world. With this specialized knowledge comes enhanced compensation. According to the Bureau of Labor Statistics (BLS), the median salary for recent actuarial science graduates is higher than the average for other professions. And, the BLS predicts a 23 percent increase in opportunities through 2032.
With a faculty made up of academic actuaries, practicing actuaries, and actuaries who have extensive real-world experience, BU MET’s programs in Actuarial Science help you develop the skills you need to become a credentialed actuary. You will gain a solid academic foundation through specialized courses in actuarial science, data science, finance, and related fields. You will also benefit from being exposed to current business and economic practices while examining the fiscal and ethical dilemmas encountered in the process of business decision-making.
Located in one of the nation’s top financial and insurance centers, Boston University is the only university in New England that offers a master’s degree in Actuarial Science, providing an unmatched environment to learn and to find both internships and full-time employment. BU’s Actuarial Science program has the Society of Actuaries’ “UCAP-AC” designation and BU has Bronze Level recognition from the Casualty Actuarial Society (CAS) University Recognition Program for demonstrated commitment to preparing future property and casualty actuaries through its educational offerings. You can take courses to receive “Validation by Educational Experience (VEE)” credit from the SoA and CAS. By taking VEE courses, which also count toward the master’s in Actuarial Science degree, you have an advantage when seeking employment.
Graduate with Expertise in Calculating Risk
Metropolitan College’s Actuarial Science master’s degree will equip you with:
- Detailed knowledge of the mathematics and modeling techniques that form the core of actuarial calculations. This knowledge includes topics in probability, statistics, life contingencies, loss models, credibility theory, investment theory, and financial mathematics.
- An accurate and deep understanding of these core actuarial topics and the ability to creatively solve increasingly complex business problems.
- Proficiency in distinguishing and describing a wide range of actuarial practice areas in-depth and knowledgeably, and the ability to articulate an understanding of the principles that govern the development of both standard insurance products and new developments risk management models.
- Competency in the computer skills required to analyze data using leading-edge software tools of the trade in insurance, risk management, and related industries.
Certificate-to-Degree Pathway
BU MET graduate certificate programs can serve as building blocks to a master’s degree. Both the Actuarial Foundations and Actuarial Science graduate certificates share courses with the master’s in Actuarial Science program, giving you the option to take one or two certificates on your path to a master’s degree. Students currently enrolled in a graduate certificate who are interested in transitioning into a master’s degree should contact their academic advisor to declare their interest in this pathway. A new master’s degree application is not required. Connect with a graduate admissions advisor at adsadmissions@bu.edu to learn more about this option.
Master’s in Actuarial Science Curriculum
A total of 34 credits is required.
Students must complete the core curriculum and either two general electives or a concentration in Finance or Insurance.
Given the nature of the program, we recommend a foundational knowledge of calculus and multivariate calculus. Applicants who do not have a sufficient math background may be required to complete a prerequisite course in these topics prior to enrollment.
Core Courses
(Seven courses/26 credits)
MET AT 505 Actuarial and Financial Data Analysis
MET AT 521 Financial Mathematics
MET AT 531 Fundamentals of Actuarial Mathematics
MET AT 743 Regression and Time Series
MET AT 799 Capstone in Actuarial Science
Plus, one course selected from the following:
MET AT 541 Introduction to Individual Insurance
MET AT 542 Introduction to Group Insurance
MET AT 543 Introduction to Property and Casualty Insurance
MET AT 544 Introduction to Pension Mathematics
And one course selected from the following:
MET AT 771 Advanced Long-Term Actuarial Mathematics
MET AT 781 Advanced Short-Term Actuarial Mathematics
Elective Courses
Students not pursuing a concentration in Finance or Insurance must select two electives from the list below*.
MET AD 632 Financial Concepts
MET AT 511 Economics and Management Decisions
MET AT 541 Introduction to Individual Insurance
MET AT 542 Introduction to Group Insurance
MET AT 543 Introduction to Property and Casualty Insurance
MET AT 544 Introduction to Pension Mathematics
MET AT 722 Finance for Actuaries
MET AT 761 Mathematics for Investment and Portfolio Theory
MET AT 762 Mathematical Finance for Actuarial Science
MET MA 581 Probability
MET MA 582 Mathematical Statistics
MET MA 603 SAS with Statistical Applications
Students may take up to one related elective course from other departments at Boston University, with the permission of the director of the Actuarial Science program.
*Selections cannot be identical to courses taken as part of the core.
Students who have completed any of the above coursework in undergraduate or graduate studies, or who have successfully passed the corresponding professional examinations, may substitute these courses with courses available through other departments at BU MET—most notably the Administrative Sciences and Computer Science departments—as well as BU’s College of Arts & Sciences (CAS) or Questrom School of Business. The Actuarial Science department must approve any such course. Approval must also be obtained from CAS or Questrom. Typically, students are allowed to take two courses from outside of the Actuarial Science department as part of their degree.
Among courses that students have received approval for include:
MET AD 571 Business Analytics Foundations
MET AD 630 Financial and Managerial Accounting
MET AD 712 Financial Markets and Institutions
MET AD 713 Derivative Securities and Markets
MET AD 717 Investment Analysis and Portfolio Management
MET AD 740 Planning and Operating New Ventures
MET CS 521 Information Structures with Python
MET CS 544 Foundations of Analytics and Data Visualization
MET CS 555 Foundations of Machine Learning
MET CS 579 Database Management
MET CS 669 Database Design and Implementation for Business
MET CS 677 Data Science with Python
MET CS 682 Information Systems Analysis and Design
MET CS 699 Data Mining
Directed Studies
Courses in directed studies are offered to students who plan to engage in specialized research topics under the supervision of a faculty advisor.
MET AT 991 Directed Studies I
MET AT 992 Directed Studies II
Actuarial Internships
Internship courses are also offered to students who seek practical applications of actuarial principles in insurance companies, financial institutions, pension consulting firms, and other related fields. While these courses are not intended to create internship opportunities for students, students find value in the regular meetings of the courses in which they discuss the work they are doing outside of the classroom.
MET AT 981 Internship in Actuarial Science I
MET AT 982 Internship in Actuarial Science II
To take these internship courses, students should have successfully completed MET AT 521 and MET AT 531 (or the associated professional examination) and maintain an overall cumulative GPA of 3.3 or higher. In addition, to enroll in these courses, international students must meet the rules of Boston University’s International Students & Scholars Office (ISSO) regarding internships.
Actuarial Science Faculty
Tuition & Financial Assistance
Competitive Tuition
Our part-time rates are substantially lower than those of the traditional, full-time residential programs yet provide access to the same high-quality BU education.Comprehensive Financial Assistance
Our services include scholarships, graduate loans, and payment plans.How Much Does This Program Cost?
BU MET Programs offer the flexibility of part-time or full-time study. Tuition, fees, and total program cost are determined by enrollment status. If you enroll in 1–2 courses (4–8 credits) in a semester, you are charged the part-time per-credit rate. If you enroll in 3–4 courses (12–16 credits) in a semester, you are charged the full-time semester rate.
MS in Actuarial Science (On Campus)
| Enrollment Status | Part Time | Full Time | |
| Courses per Semester | 2 courses (8 credits) |
4 courses (16 credits) |
3 courses (12 credits) |
| Time to Degree | 4 semesters (16 months) |
2 semesters (8-12 months)*** |
3 semesters (12-20 months)*** |
| Tuition* | $550-$975 per credit** |
$33,335 per semester |
$33,335 per semester |
| Fees per Semester* | $60 | $478 | $478 |
| Total Degree Cost* | $23,190– $26,590 |
$67,626 | $77,436 |
*Based on 2024–2025 Boston University tuition & fee rates.
**Cost per credit is determined by course number (100–599 = $550/credit, 600–999 = $975/credit).
***Summer semester enrollment is not required for international students to maintain F-1 visa status. Enrollment in summer semester coursework will expedite completion of program and reduce total program cost.
International students seeking an F-1 visa for on-campus study must enroll full time and demonstrate availability of funds to cover the Estimated Cost of Graduate Study; those who wish to study online may enroll part-time but are not eligible for a visa. Learn more about International Student Tuition & Fees.
Questions? Please contact us to hear from an Admissions Advisor who can help you determine the best enrollment pathway. For information regarding financial aid, visit BU MET’s Financial Aid page.
Get Started
Please visit the BU MET admissions page for details on how to apply, financial assistance, tuition and fees, requirements for international students, and more.
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