Career Fair
The 2024 Actuarial Career Fair will be held on the 23rd of September from 5:00 – 8:00 pm. Penn State is hosting this year's career fair in the Business Building Atrium. Please see the resources and information below to assist you in preparing for the career fair.
Here is the link to the Career Fair Brochure: link
The career fair is a great way to connect with recruiters and obtain interviews, but don't forget that recruiting starts long before the career fair! Three of the most important steps to take before going to the career fair are as follows:
Here is the link to the Career Fair Brochure: link
The career fair is a great way to connect with recruiters and obtain interviews, but don't forget that recruiting starts long before the career fair! Three of the most important steps to take before going to the career fair are as follows:
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Do Your Research
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Apply Online
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Go to Information Sessions
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Know what industry the company is in as well as the positions they are hiring for. Understand what locations you could be in, if they are looking for interns or full-time employees, and if they hire international students.
It can be very challenging if you have a great conversation with a recruiter and when you ask what the next steps are, they say to apply online. Expedite the process by applying online to any company you will speak to at the career fair before actually attending it.
The information sessions hosted by The Actuarial Science Club are one of the best ways to learn more about companies and network. Recruiters remember who attends their information sessions and are more likely to offer you an interview if you attended. It's also a great opportunity for you to learn which companies you could see yourself working for!
General Advice
While it is useful to have the "elevator speech" listing your achievements, keep in mind that many of the recruiters will likely be talking to over 50 other students. Therefore, you can distinguish yourself by not only explaining your unique qualifications, but also by having a conversation. Recruiters want to hire someone they can imagine working with, so having a friendly conversation (even unrelated to actuarial science) could help make you memorable. (You can work on your conversational English if you think you are lacking).
While it is useful to have the "elevator speech" listing your achievements, keep in mind that many of the recruiters will likely be talking to over 50 other students. Therefore, you can distinguish yourself by not only explaining your unique qualifications, but also by having a conversation. Recruiters want to hire someone they can imagine working with, so having a friendly conversation (even unrelated to actuarial science) could help make you memorable. (You can work on your conversational English if you think you are lacking).
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Mentorship Program
In the past years, our mentor program has been extremely helpful as it gives underclassmen an opportunity to learn from older students who have been in the same shoes as them. We know how overwhelming it can be in this major so having someone that can answer all your questions and prepare you for the future is so important. Being a mentor gives you a unique experience to learn leadership and communication skills as you guide your mentees through the process.
The mentorship program starts every fall semester. If you wish to be a mentee or mentor fill out the form attached below. Keep reading past this to find out the benefits of becoming a mentee and the requirements for mentors!
The mentorship program starts every fall semester. If you wish to be a mentee or mentor fill out the form attached below. Keep reading past this to find out the benefits of becoming a mentee and the requirements for mentors!
Benefits of Becoming a Mentee
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Scheduling Classes
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Passing Exams
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Resume and Interviewing Help
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General Advice and Support
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While the Penn State Actuarial Program boasts diverse career paths (Mathematics, Statistics, Smeal), it may be prove difficult for new students to navigate through the different courses. Challenges may include: declaring your major on time, achieving additional minors, finding extra classes to learn coding, and creating a balanced schedule each semester. Your mentor will most likely be in your same major (possibly even similar minors), so will be a great resource for you to have the perfect schedule during your time at Penn State.
Your mentor will be a resource from day one to answer questions about exams. Your assigned mentor will have previous success in passing exams and will understand what it takes to get through the process. Whether it be help learning the material, understanding how to schedule an exam through Prometric, or finding the best study materials, a mentor can be critical to passing 2, 3, 4, or more exams while in college. Who knows, maybe you will even be able to nab your mentors old study materials for a discount, or maybe even for free!
Beyond classes and exams, knowing how to build a strong resume and master the art of interviewing is a process learned through experience. Your mentor will have revised resumes numerous times before, and be well-versed in how to prepare for and take part in an interview. Set up times to do mock interviews with your mentor, send them a copy of your resume to review, and you'll be swimming in internship and job offers in no time!
There are few actuaries who become successful without the assistance of others. Your mentor will be present to support you should you fail an exam or to celebrate with you if you pass one. Don't hesitate to reach out if you face any difficulties! Feel free to talk to them about any challenges you may have in classes, exams, or any other areas. The actuarial community is relatively small, so building out your network can ensure you build a strong reputation for yourself.
Requirements for Mentors
At this time we ask that mentors only apply if they have passed at least one exam and completed at least one actuarial internship.
Instructions for Mentors
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Helping your mentee is YOUR responsibility
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Use your network
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Being a mentor is a commitment
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As a mentee, it is challenging to know what you don't know. Therefore, mentees frequently struggle asking for help or understanding what they could be doing better as actuarial students. It is your responsibility as a mentor to reach out and offer help to your mentee. Here are some suggestions for steps to take to help your mentee:
1. Ask for their complete schedule plan until graduation, and ensure they understand which classes they need to take and how they can maximize their time at Penn State. If they do not have a complete plan, sit down with them and help them create one.
2. Ask for their resume. Provide respectful, constructive feedback to your mentee on how they can improve their resume. Feel free to use your own resume as an example. If they do not have a current resume, provide them a template for one and help them create it.
3. Set aside 30 minutes to do a mock interview with your mentee. Feel free to set up extra time to provide feedback in order to use the full 30 minutes for the mock interview. Have your mentee pick a company for you to represent and have basic knowledge of that company.
4. Ensure they are attending events put on by the actuarial science club, such as information sessions, the career fair, and interview workshops
5. Check in on their study habits and how they are doing in classes. Provide all the tips and tricks you've learned over the years on how to be successful
6. Talk them through the process. Help them find leadership positions on campus, understand the industry and the exam process, and always be a friendly face on campus
2. Ask for their resume. Provide respectful, constructive feedback to your mentee on how they can improve their resume. Feel free to use your own resume as an example. If they do not have a current resume, provide them a template for one and help them create it.
3. Set aside 30 minutes to do a mock interview with your mentee. Feel free to set up extra time to provide feedback in order to use the full 30 minutes for the mock interview. Have your mentee pick a company for you to represent and have basic knowledge of that company.
4. Ensure they are attending events put on by the actuarial science club, such as information sessions, the career fair, and interview workshops
5. Check in on their study habits and how they are doing in classes. Provide all the tips and tricks you've learned over the years on how to be successful
6. Talk them through the process. Help them find leadership positions on campus, understand the industry and the exam process, and always be a friendly face on campus
Remember, a mentee that is a strong job candidate reflects positively on YOU as a job candidate!
Your mentee may need help or have questions about an area you are not an expert in. In this case, use your network in the actuarial community to find them additional resources. If you are struggling to find the best information, reach out to an officer board member for assistance.
Don't sign up for a mentor if you are not certain you have the appropriate time to devote to your mentee. Some mentees require more assistance than others, so you should be prepared to provide sufficient time to them based on their needs.
Scheduling and RM Courses
Actuarial Science Program & Sample Schedules
Super Fast Track Sample Schedule
Fast Track Sample Schedule
Both of the Fast Track schedules will cover the material for the first two exams by the end of Sophomore year. Any Junior who goes to the career fair with two exams passed will be a very competitive candidate for a summer internship.
Official Course Requirements - including University Suggested Academic Plan Here is the New Curriculum Changes Powerpoint (2/2022)
**Note Stat/Math Majors - The published requirements have not been updated to reflect the 2022 Curriculum changes. Make sure you are working with your Academic Advisor to properly schedule classes!
Fast Track Sample Schedule
Both of the Fast Track schedules will cover the material for the first two exams by the end of Sophomore year. Any Junior who goes to the career fair with two exams passed will be a very competitive candidate for a summer internship.
Official Course Requirements - including University Suggested Academic Plan Here is the New Curriculum Changes Powerpoint (2/2022)
**Note Stat/Math Majors - The published requirements have not been updated to reflect the 2022 Curriculum changes. Make sure you are working with your Academic Advisor to properly schedule classes!
Scheduling Basics
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STAT, MATH or Actuarial Science (Business)?
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Which Math to start? (140, 141, 230)
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What classes prepare you for first the Actuarial Exam?
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You can major in Actuarial Science through The Actuarial Science Major, which can be found in the Smeal College of Business or the Mathematics and Statistics Majors (in the Eberly College of Science). Students in all three Actuarial Options take the same Actuarial courses with each other. There are advantages to getting the Major through Smeal, such as: Smeal students can take any STAT or MATH course, but Eberly students are not eligible for many Smeal courses. Take a look at the slides from our 2019 Fall Major Forum for Actuarial Students on what courses to take.
Are you great at calculus? Click here to decide whether to place out of Math 140 (and maybe Math 141 too). It helps to place out of Math 140 so that you can take RM 410 in your Sophomore year. That helps you pass 2 actuarial exams in your Sophomore year and get an internship. However, Smeal students need to be careful to not thereby hurt their GPA, because if it goes below 3.20 you may not be able to enter your desired Smeal major.
It's important to take STAT 414 and RM 214 (Review of Probability Theory) in your third semester, so you can get into RM 410 in the Spring, get an internship, learn about the actuarial profession, and pass the Society of Actuaries Exam P (on Probability Theory) in January.
Which Risk Management (RM) Classes Do I Take?
EXAM RELATED COURSES (SHARED AMONG ALL MAJORS)
Exam Related Courses:
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RM 214
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RM 410
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RM 421
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RM 411
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Related Actuarial Exam
Probability (P)
Important Notes
Take this concurrently with Stat 414 to prepare for Exam P. This course is not required, but recommended.
Tips from Students
You have the option to late drop this course if you aren't doing well in it, but try not to. Late dropping this course is a good indicator that the major may not be for you, as classes only get harder!
Course Description
This course introduces students to actuarial science topics and the actuarial profession. To become an actuary, individuals must pass a series of professional examinations that accredit them as professionals in the field. This course provides an introduction to the material on the earlier exams such as applications of probability theory to insurance, financial mathematics (compound interest and annuities), and provides instruction on spreadsheets, so that students can perform their homework using them. Topics covered include applications of the following to insurance and actuarial science: conditional probability, independence, combinatorial principles, Bayes Theorem, and random variables. Specific probability distributions used include the binomial, uniform, Poisson, geometric, negative binomial, hyper-geometric, and multinomial discrete distributions, as well as the exponential, normal, uniform, and gamma continuous distributions. Expectations, distribution parameters, means, medians, modes, variances, skewness, and moment generating functions are also covered. The more advanced topics of joint, marginal, and conditional distributions are used, along with functions and transformations of random variables. The application of probability theory to risk management is addressed. Throughout the course, sample problems will be reviewed to help prepare students for the actuarial professional exams.
Probability (P)
Important Notes
Take this concurrently with Stat 414 to prepare for Exam P. This course is not required, but recommended.
Tips from Students
You have the option to late drop this course if you aren't doing well in it, but try not to. Late dropping this course is a good indicator that the major may not be for you, as classes only get harder!
Course Description
This course introduces students to actuarial science topics and the actuarial profession. To become an actuary, individuals must pass a series of professional examinations that accredit them as professionals in the field. This course provides an introduction to the material on the earlier exams such as applications of probability theory to insurance, financial mathematics (compound interest and annuities), and provides instruction on spreadsheets, so that students can perform their homework using them. Topics covered include applications of the following to insurance and actuarial science: conditional probability, independence, combinatorial principles, Bayes Theorem, and random variables. Specific probability distributions used include the binomial, uniform, Poisson, geometric, negative binomial, hyper-geometric, and multinomial discrete distributions, as well as the exponential, normal, uniform, and gamma continuous distributions. Expectations, distribution parameters, means, medians, modes, variances, skewness, and moment generating functions are also covered. The more advanced topics of joint, marginal, and conditional distributions are used, along with functions and transformations of random variables. The application of probability theory to risk management is addressed. Throughout the course, sample problems will be reviewed to help prepare students for the actuarial professional exams.
Related Actuarial Exam
Financial Mathematics (FM)
Important Notes
You MUST be accepted in the Smeal major to take this course
Tips from Students
Be sure to use the Adapt Lite subscription to its fullest! Its the best way to get ready for the real exam!
Course Description
Compound interest and annuity functions; life annuities; equations of value; determination of yield rates; bonds; introduction to derivatives. R M 410 Financial Mathematics for Actuaries (3) The first section of the course focuses on Interest Theory, including compound interest, annuities- certain, and life annuities; equations of value; loans and their valuation; the pricing of bonds (with and without default), determining their yields to maturity and outstanding balances; determination of yield rates, spot rates, forward rates, and At-Par rates; duration of an asset or liability, and immunization of interest rate risk. The second section introduces students to derivatives, including the description, payoffs, and profits of forwards, futures, puts, calls, and swaps, and how to use them to manage a company's or investor's financial risks. The course helps prepare actuarial students for the international actuarial exam FM (Financial Mathematics).
Financial Mathematics (FM)
Important Notes
You MUST be accepted in the Smeal major to take this course
Tips from Students
Be sure to use the Adapt Lite subscription to its fullest! Its the best way to get ready for the real exam!
Course Description
Compound interest and annuity functions; life annuities; equations of value; determination of yield rates; bonds; introduction to derivatives. R M 410 Financial Mathematics for Actuaries (3) The first section of the course focuses on Interest Theory, including compound interest, annuities- certain, and life annuities; equations of value; loans and their valuation; the pricing of bonds (with and without default), determining their yields to maturity and outstanding balances; determination of yield rates, spot rates, forward rates, and At-Par rates; duration of an asset or liability, and immunization of interest rate risk. The second section introduces students to derivatives, including the description, payoffs, and profits of forwards, futures, puts, calls, and swaps, and how to use them to manage a company's or investor's financial risks. The course helps prepare actuarial students for the international actuarial exam FM (Financial Mathematics).
Related Actuarial Exam
Exam FAM (Short Term Actuarial Mathematics Portion)
Important Notes
Spring Semester Only
Course Description
RM 421 provides a solid understanding of actuarial methods and concepts used to develop loss models for property and casualty insurance and health insurance. The course makes use of real world numerical examples in order to demonstrate how actuaries use historical claims and pricing data, both company specific and industry, to determine rates and increases. Topics covered include: 1) Understand the key features of insurance and reinsurance coverages, 2) Understand the characteristics of severity, frequency and aggregate models, 3) Understand the concepts and applications of credibility theory, 4) Apply basic methods for calculation of premiums and reserves for short term insurance coverages.
Exam FAM (Short Term Actuarial Mathematics Portion)
Important Notes
Spring Semester Only
Course Description
RM 421 provides a solid understanding of actuarial methods and concepts used to develop loss models for property and casualty insurance and health insurance. The course makes use of real world numerical examples in order to demonstrate how actuaries use historical claims and pricing data, both company specific and industry, to determine rates and increases. Topics covered include: 1) Understand the key features of insurance and reinsurance coverages, 2) Understand the characteristics of severity, frequency and aggregate models, 3) Understand the concepts and applications of credibility theory, 4) Apply basic methods for calculation of premiums and reserves for short term insurance coverages.
Related Actuarial Exam
Exam FAM (Long Term Actuarial Mathematics Portion)
Important Notes
Fall Semester Only
Course Description:
A study of the mathematical theory of life contingencies, single-life functions, and their applications. The course provides a solid understanding of the mathematics of life insurance and annuities, and helps actuarial students prepare for the international MLC actuarial exam (Models in Life Contingencies). Students will produce a paper on selling insurance to someone they know, which includes pricing it based on the person's age and gender. Topics covered include: 1) The mathematics, statistics, and interest theory supporting life contingencies, 2) In depth study of survival models and mortality tables, including Select, Ultimate, and Aggregate Mortality, 3) Pricing and understanding life insurance, and in particular, Whole Life Insurance, Endowment Insurance, and Term Insurance, 4) Pricing and understanding life annuities, including temporary and deferred annuities, 5) Determination and understanding of premiums for life insurance and annuities, and 6) Determination and understanding of life insurance reserves, and multiple ways of calculating them.
Exam FAM (Long Term Actuarial Mathematics Portion)
Important Notes
Fall Semester Only
Course Description:
A study of the mathematical theory of life contingencies, single-life functions, and their applications. The course provides a solid understanding of the mathematics of life insurance and annuities, and helps actuarial students prepare for the international MLC actuarial exam (Models in Life Contingencies). Students will produce a paper on selling insurance to someone they know, which includes pricing it based on the person's age and gender. Topics covered include: 1) The mathematics, statistics, and interest theory supporting life contingencies, 2) In depth study of survival models and mortality tables, including Select, Ultimate, and Aggregate Mortality, 3) Pricing and understanding life insurance, and in particular, Whole Life Insurance, Endowment Insurance, and Term Insurance, 4) Pricing and understanding life annuities, including temporary and deferred annuities, 5) Determination and understanding of premiums for life insurance and annuities, and 6) Determination and understanding of life insurance reserves, and multiple ways of calculating them.
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RM 412
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RM 422
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Related Actuarial Exam
Exam A-LTAM
Important Notes
Spring Semester Only
Course Description:
Joint-life and survivor-life functions, population life tables, and multiple decrement theory, with applications to disability and retirement problems.
Exam A-LTAM
Important Notes
Spring Semester Only
Course Description:
Joint-life and survivor-life functions, population life tables, and multiple decrement theory, with applications to disability and retirement problems.
Related Actuarial Exam
Exam A-STAM
Important Notes
Fall Semester Only
Course Description:
This course covers advanced topics of actuarial methods and concepts used to develop loss models for property and casualty insurance and health insurance. The course makes use of real world numerical examples in order to demonstrate how actuaries use historical claims and pricing data, both company specific and industry, to determine rates and increases. Topics covered include: 1) Interpretation and calculations with severity, frequency and aggregate models, 2) Construction and selection of parametric models, 3) Estimation of losses using credibility procedures, and 4) Pricing and reserving for short-term insurance coverages
Exam A-STAM
Important Notes
Fall Semester Only
Course Description:
This course covers advanced topics of actuarial methods and concepts used to develop loss models for property and casualty insurance and health insurance. The course makes use of real world numerical examples in order to demonstrate how actuaries use historical claims and pricing data, both company specific and industry, to determine rates and increases. Topics covered include: 1) Interpretation and calculations with severity, frequency and aggregate models, 2) Construction and selection of parametric models, 3) Estimation of losses using credibility procedures, and 4) Pricing and reserving for short-term insurance coverages
Actuarial Science classes are the same across majors: MATH, STAT, RM
- RM 214 is an elective to take with STAT 414 to pass Exam P
- RM 410 prepares you for Exam FM
- RM 411 is offered in the fall semester only for Exam FAM (Long Term Actuarial Mathematics Portion)
- RM 412 is offered in the fall semester only for Exam A-LTAM
- RM 421 is offered in the spring semester only for Exam FAM (Short Term Actuarial Mathematics Portion)
- RM 422 is offered in the fall semester only for Exam A-STAM
Actuarial Science (Smeal) Specific Courses
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RM 320W
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RM 430
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Important Notes
Fall Semester Only
Course Description
Goals and methods of risk management. Commercial insurance and alternative risk transfer (ART) methods in addition to the characteristics of insurance markets and intermediaries used by risk managers. This course covers the risk management process used by organizations to deal with the risks that they face with an emphasis on the types of risk commonly handled through the commercial insurance market. It addresses the costs and benefits of risk management, the goals of the process and the methods available to handle risks. The methods covered include both traditional and nontraditional ones including retention, commercial insurance, captive insurers, loss sensitive contracts, finite risk plans and securitization. The characteristics of the insurance markets and intermediaries used by risk managers are studied. These include insurance company organizational forms, operational structures, measures of performance, regulation and the role of brokers. The risks to organizations that are addressed include risks to employees, risks to customers, risks to shareholders and risks to third parties. The types of insurance covered include workers compensation, employment practices liability, products liability, general liability, directors and officers liability and environmental impairment liability. In addition, the failure of risk management during the recent financial crisis is analyzed. The course ends with a case study of risk management at Penn State University to give students a detailed perspective of the risk management program of a complex organization and to provide insight into how changes in the market environment can significantly affect such a program.
Fall Semester Only
Course Description
Goals and methods of risk management. Commercial insurance and alternative risk transfer (ART) methods in addition to the characteristics of insurance markets and intermediaries used by risk managers. This course covers the risk management process used by organizations to deal with the risks that they face with an emphasis on the types of risk commonly handled through the commercial insurance market. It addresses the costs and benefits of risk management, the goals of the process and the methods available to handle risks. The methods covered include both traditional and nontraditional ones including retention, commercial insurance, captive insurers, loss sensitive contracts, finite risk plans and securitization. The characteristics of the insurance markets and intermediaries used by risk managers are studied. These include insurance company organizational forms, operational structures, measures of performance, regulation and the role of brokers. The risks to organizations that are addressed include risks to employees, risks to customers, risks to shareholders and risks to third parties. The types of insurance covered include workers compensation, employment practices liability, products liability, general liability, directors and officers liability and environmental impairment liability. In addition, the failure of risk management during the recent financial crisis is analyzed. The course ends with a case study of risk management at Penn State University to give students a detailed perspective of the risk management program of a complex organization and to provide insight into how changes in the market environment can significantly affect such a program.
Important Notes
Fall Semester Only
Course Description
Industrial organization of the US life-health insurance industry; economic issues related to organizational structure, operational functions, and the supply and demand for life-health products.
Fall Semester Only
Course Description
Industrial organization of the US life-health insurance industry; economic issues related to organizational structure, operational functions, and the supply and demand for life-health products.
Advising Notes for Smeal Students:
- To enter your major by the end of 3rd semester, you must meet all ETM requirements (ACCTG 211, FIN 301, 3.2 GPA or better and 44+ credits at Penn State). Then you can take RM 410 in 4th semester and RM 415 in 5th semester. (This helps you pass 2 exams in your sophomore year, get an internship, and pass the IFM exam in the fall of junior year.)
- STAT 462, STAT 483, or STAT 380 are required for Smeal Majors
Actuarial Mathematics/Statistics Specific Courses
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RM 302
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Course Description:
Introduction to the principles and methods of handling business and personal risks; emphasis on insurance techniques.
Introduction to the principles and methods of handling business and personal risks; emphasis on insurance techniques.
Validation by Educational Experience (VEEs)
VEEs are part of the actuarial certification process. If you do not receive credit in college, you may need to pay for and enroll in additional courses to receive the credit. For that reason, it is important to take these courses even if not required to graduate. The VEE requirements for the actuarial profession include: Economics; Accounting and Finance; Mathematical Statistics. These VEEs can be satisfied by the following courses, respectively: Economics 102 and Economics 104; Account 211 and Finance 301; Statistics 415. For this reason, many actuarial students minor in Statistics or Economics.
For more details, read about VEE courses on the SOA Website or our VEE/Exams page
For more details, read about VEE courses on the SOA Website or our VEE/Exams page
General Education Requirements
Courses required for graduation
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*Remember, you can significantly reduce credits needed with AP credits from high school!*
Resume Dropbox
Get your resume into the Resume Book to dramatically improve your chance at getting full time Jobs and Internships.
The Penn State Actuarial Science Club Resume Book is one of the best ways to secure an internship or full time position for any student or recent grad. To be included in the resume books, you need to submit your resume in the dropbox below that corresponds with your grade level. See tips on how to build a great resume on the Career Tips web page.
Resume Book Update Schedule:
Submission Guidelines:
If you accept an offer, please report it online.
If you report an offer, you will be removed from the next resume book to ensure recruiters have the most accurate information
If you have questions, please contact the club's Director of Technology, Sean Gordon.
Resume Book Update Schedule:
- 8/15/23 (Top Sponsors Only)
- 9/4/23
- 9/25/23
- 10/9/23
- 10/23/23
- 11/6/23
- 12/6/23
- 3/4/23
Submission Guidelines:
- Resumes must be a 1-page PDF, named in the following format LastName_FirstName_Major_#ofExams.pdf where the major can be (ActuarialScience, ActuarialMathematics, or ActuarialStatistics) and # of Exams is the number of exams PASSED! Please do not include any sitting exams.
If you accept an offer, please report it online.
If you report an offer, you will be removed from the next resume book to ensure recruiters have the most accurate information
If you have questions, please contact the club's Director of Technology, Sean Gordon.
Full Time Candidates
Seniors
Fall 2023/ Spring 2024 Graduates
Fall 2023/ Spring 2024 Graduates
Internship Candidates
Event Attendance
The Club hosts many great events throughout the semester – we want to not only encourage you to regularly attend events, but also give you recognition when you do. For these reasons, we'll be tracking the number of events that each student attends. We also have newly implemented tiered exam reimbursement based on your attendance points. For the spring, the standard tier will be 0-3.99 points and the platinum tier will be 4+ points. You can find the exam reimbursement amounts here.
Event attendance data will be found in two places:
Event attendance data will be found in two places:
1. The Club website – You can see how your attendance compares to your friends' and aim to reach the top of the list.
2. Resume books – We will send a copy of the event attendance data exactly as it appears below to recruiters each month with the resume books. High event attendance will make you more likely to receive attention from recruiters and can differentiate you from other job/internship candidates.
2. Resume books – We will send a copy of the event attendance data exactly as it appears below to recruiters each month with the resume books. High event attendance will make you more likely to receive attention from recruiters and can differentiate you from other job/internship candidates.
Spring 2024 Event Attendance
Click this link to access the Attendance Point Sheet for this Semester! At.Display.xlsx
International and Commonwealth Campus Students
International or Commonwealth Campus Student? The Club is Here to Help
Transferring to Penn-State University Park as an International student or Commonwealth campus student is not always an easy task and requires a lot of planning and preparation. Luckily, the Actuarial Science Club is here to make this process a little easier and highlight a few things that you should think about before you make the switch and once you get to University Park.
For an overview of tips on how to be successful as an international student, take a look at this presentation. If you are a commonwealth campus student, take a look at this presentation. To learn about a specific topic, pick a category below. If you have any questions, please contact our Director of Student Development, Luke Popadiuk.
I Want to Learn More About:
For an overview of tips on how to be successful as an international student, take a look at this presentation. If you are a commonwealth campus student, take a look at this presentation. To learn about a specific topic, pick a category below. If you have any questions, please contact our Director of Student Development, Luke Popadiuk.
I Want to Learn More About:
Actuarial exams
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University Park Student
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International Student
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Commonwealth Student
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Many students are afraid of taking an exam before coming to Penn State, but you don't need to be! Self-studying is a skill all actuaries must develop, so it's a great idea to start practicing now. Many students have passed exams on their own with great success!
Some other countries offer SOA/CAS actuarial testing, so if your country does, take advantage of this. While taking exams early can help you secure an internship, doing so is optional and you will not be disadvantaged if you cannot manage this. Many international and commonwealth students have arrived at University Park without any exams passed and been successful.
Some other countries offer SOA/CAS actuarial testing, so if your country does, take advantage of this. While taking exams early can help you secure an internship, doing so is optional and you will not be disadvantaged if you cannot manage this. Many international and commonwealth students have arrived at University Park without any exams passed and been successful.
Many students are afraid of taking an exam before coming to Penn State, but don't be! Self-studying is a skill all actuaries must develop, so it's a good idea to start practicing now. Many students have passed exams on their own with great success!
There are testing locations in Pennsylvania in Pittsburgh (north of the city, east of the city/Monroeville), State College, Harrisburg, Lancaster, King of Prussia, Allentown, and Philadelphia, so you can travel to one of these locations from your campus to take your exam.
There are testing locations in Pennsylvania in Pittsburgh (north of the city, east of the city/Monroeville), State College, Harrisburg, Lancaster, King of Prussia, Allentown, and Philadelphia, so you can travel to one of these locations from your campus to take your exam.
Internships & full time jobs
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University Park Student
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International Student
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Commonwealth Student
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Every student should look here to learn about how to be successful in securing an internship.
Keep in mind that if you get an internship for the summer, you will be required to enroll in a 1.5 credit course in order to do an internship which you will have to pay standard tuition for. This might make getting an internship seem less appealing, but having an internship increases your chances of getting a job after graduation, so it really is worth it!
Finding internships and jobs as an international student can be challenging because not all companies sponsor h1b visas. Because of this, it's important to know which companies offer sponsorship before you spend an hour at an information session, or hours at the career fair. Whether a company hires international students or not can be found in the career fair brochure, sent out a few weeks before the career fair. You can also look on our list of companies that hire at Penn State here, and look to see if they hire international students. Be sure to confirm this information with the company as their policies are subject to change.
Getting a job after graduation is dependent on the O.P.T visa that the U.S grants international students after they graduate. However, for most majors, only one year is granted. STEM majors are however given three years. In the past the Actuarial Science major was not considered a STEM major, and graduating international actuarial major students were only given one year with their O.P.T. This has since been changed and Actuarial Science is now considered a STEM major. Thus, international Actuarial students can receive three years with their O.P.T.
If you are unable to find internships in the U.S.A try to look for opportunities in your home country as well. This is a great alternative to an internship here in the states and is also looked favorably upon by recruiters.
Try to complete an internship in your home country before transferring to Penn-State. This will help boost your resume and increase your chances of securing an internship sooner. Also make sure you keep up with and pass actuarial exams. Do not just pass the minimum number of exams recommended but try to supersede this. This will increase your chances of getting an internship.
Finding internships and jobs as an international student can be challenging because not all companies sponsor h1b visas. Because of this, it's important to know which companies offer sponsorship before you spend an hour at an information session, or hours at the career fair. Whether a company hires international students or not can be found in the career fair brochure, sent out a few weeks before the career fair. You can also look on our list of companies that hire at Penn State here, and look to see if they hire international students. Be sure to confirm this information with the company as their policies are subject to change.
Getting a job after graduation is dependent on the O.P.T visa that the U.S grants international students after they graduate. However, for most majors, only one year is granted. STEM majors are however given three years. In the past the Actuarial Science major was not considered a STEM major, and graduating international actuarial major students were only given one year with their O.P.T. This has since been changed and Actuarial Science is now considered a STEM major. Thus, international Actuarial students can receive three years with their O.P.T.
If you are unable to find internships in the U.S.A try to look for opportunities in your home country as well. This is a great alternative to an internship here in the states and is also looked favorably upon by recruiters.
Try to complete an internship in your home country before transferring to Penn-State. This will help boost your resume and increase your chances of securing an internship sooner. Also make sure you keep up with and pass actuarial exams. Do not just pass the minimum number of exams recommended but try to supersede this. This will increase your chances of getting an internship.
The most important thing to know about being a commonwealth student trying to secure an internship is that you can go to Penn State's Actuarial Science Club Career Fair! As long as you pay the club's dues ($20), you can drive to Penn State and talk to recruiters!
Make sure you keep up with and pass actuarial exams. Do not just pass the minimum number of exams recommended but try to supersede this. This will increase your chances of getting an internship.
Make sure you keep up with and pass actuarial exams. Do not just pass the minimum number of exams recommended but try to supersede this. This will increase your chances of getting an internship.
Scheduling
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University Park Student
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International Student
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Commonwealth Student
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Learn more about the standard scheduling process here.
Most of the scheduling process is the same for international students and students from the Unites States. However, if you are interested in staying in the U.S. over the summer, but are unable to secure an internship, summer classes are a great way to get ahead on classes or make up lost ground. After freshman year is the best time to do so because many of the specialized courses taken junior and senior year are not offered in the summer.
Try to take the equivalent of introductory courses like MATH 140/141, ECON 102/104 and if you can CMPSC 121 and STAT 200 at your respective university. Look at the sample schedules provided here and read about the various courses needed to graduate with a degree from Penn-State. See if your university offers similar courses that you would be able to use as transfer credits.
You will likely be able to opt-out of the foreign language requirement, so be sure to use this extra space to get ahead on other general education classes.
Try to take the equivalent of introductory courses like MATH 140/141, ECON 102/104 and if you can CMPSC 121 and STAT 200 at your respective university. Look at the sample schedules provided here and read about the various courses needed to graduate with a degree from Penn-State. See if your university offers similar courses that you would be able to use as transfer credits.
You will likely be able to opt-out of the foreign language requirement, so be sure to use this extra space to get ahead on other general education classes.
It is very important to avoid getting behind on your math classes while at a branch campus. Try to take all the introductory courses at your branch campus. These can all be found in the sample schedules page. To stay on track with the entrance to major requirements you might consider taking MATH 140, MATH 141, MATH 230/231 or STAT 414 during the summer session either on your campus or online.
Arriving at Penn State
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University Park Student
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International Student
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Commonwealth Student
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You should plan to transfer after your first/freshman year at your respective international university. This is because Penn State courses like RM 214 (optional), RM 410, and various other actuarial courses are offered in your second, third and fourth year. These courses are specific to the actuarial program (SOA/CAS) in the United States so many international universities do not have equivalent courses to satisfy these requirements. Most times after your first year, the courses no longer align properly and the courses you take in your second or third at your respective university will not be able to satisfy the requirements that Penn State has. A late transfer may result in you having to redo your second or third year, unnecessarily delaying your graduation.
International students should take the SAT. Although most countries have some sort of standardized tests that incoming university students have to take before they can be admitted into the university. These unfortunately do not meet the SAT requirement and you will need to take the SAT as well.
International students should take the SAT. Although most countries have some sort of standardized tests that incoming university students have to take before they can be admitted into the university. These unfortunately do not meet the SAT requirement and you will need to take the SAT as well.
You should meet with your advisor to discuss a possibility of a transfer to University Park after your 3rd semester. This is an uncommon process but is possible if you are a Smeal major, have 44-59 completed credits prior to your transfer and have met all the entrance to major requirements.
If you are Math or Stat major there is still an option to transfer early. You need to complete entrance to major requirements as well as a certain number of credits on the commonwealth campus. The threshold for the number of credits is unclear, but students with 50 credits have managed to change campus after their 3rd semester. Discuss the details with your advisor.
If you are Math or Stat major there is still an option to transfer early. You need to complete entrance to major requirements as well as a certain number of credits on the commonwealth campus. The threshold for the number of credits is unclear, but students with 50 credits have managed to change campus after their 3rd semester. Discuss the details with your advisor.
General Advice
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University Park Student
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International Student
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Commonwealth Student
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Complete the new student checklist found on the new student dashboard.
Once you get to Penn-State do not get overwhelmed by the number of classes you need to take before graduation. You may feel like you are a little behind and this is natural. With trying to take all your gen-ed classes and potentially minoring in something there is quite a bit to do. Do not fear because with a little planning, you will be able to graduate right on time.
Use your summers wisely! You will probably need to take summer classes once you get to Penn State so that you can graduate on time. Construct your schedule with all the classes you still need to take to help you gauge which semesters you plan on taking certain courses. Do not overload yourself, keep some for the summer. Take note! Not all courses can be taken over the summer, so try to take those that can be taken over the summer over the summer and those that can’t during the other semesters. Check out sample schedules here.
Use your summers wisely! You will probably need to take summer classes once you get to Penn State so that you can graduate on time. Construct your schedule with all the classes you still need to take to help you gauge which semesters you plan on taking certain courses. Do not overload yourself, keep some for the summer. Take note! Not all courses can be taken over the summer, so try to take those that can be taken over the summer over the summer and those that can’t during the other semesters. Check out sample schedules here.
Once you get to Penn-State do not get overwhelmed by the number of classes you need to take before graduation. You may feel like you are a little behind and this is natural. With trying to take all your gen-ed classes and potentially minoring in something there is quite a bit to do. Do not fear because with a little planning, you will be able to graduate right on time.
Use your summers wisely! You will probably need to take summer classes once you get to Penn State so that you can graduate on time. Construct your schedule with all the classes you still need to take to help you gauge which semesters you plan on taking certain courses. Do not overload yourself, keep some for the summer. Take note! Not all courses can be taken over the summer, so try to take those that can be taken over the summer over the summer and those that can’t during the other semesters. Check out sample schedules here.
Use your summers wisely! You will probably need to take summer classes once you get to Penn State so that you can graduate on time. Construct your schedule with all the classes you still need to take to help you gauge which semesters you plan on taking certain courses. Do not overload yourself, keep some for the summer. Take note! Not all courses can be taken over the summer, so try to take those that can be taken over the summer over the summer and those that can’t during the other semesters. Check out sample schedules here.
Graduate School
Use the graduate school reporting form to provide relevant information about your acceptance to graduate school to the RM department. |
Graduate School Recommendation Letter Policy
Actuarial students often ask for recommendation letters as part of the application process for graduate school. The Faculty in the Department of Risk Management met and set up the following ground rules.
- Please provide your transcript. At a minimum, you should have a GPA of at least 3.50, mostly A’s in the classes of the recommenders, and no C’s, D’s or F’s. If you do not have good grades, the prospects for getting into (and succeeding in) grad school are not good.
- Moreover, unless your grades are really good:
- It doesn’t make sense to apply to top schools like MIT, Harvard, and U of Chicago, as you will not be accepted.
- Our reference letters have to be honest, and explain where you rank in our program.
- If interested in Actuarial Science or a related degree in Statistics, pass at least the P and FM exams and take LTAM or MAS exam.
- If interested in Financial Engineering, Mathematical Finance, or a related degree, take RM 415 & pass the P, FM, IFM exams.
- Ask your professors that you have some type of exposure to to be your references.
- Please provide us your resume, GPA, Exams passed, and GRE scores.
- How many schools are you applying to? It takes time to write these letters so please keep your list to a reasonable number.
- Please provide us a list of all the school names and your desired major BEFORE applying to them.
- You might consider the PSU Masters in Applied Statistics (MAS)
- To save us time, please apply to all your schools at one time, so we can do all our recommendations at one time.
- We urge you to talk to former students who went to grad school so that you will have a better idea of what is expected. You can find them on the alumni list. There is a column for grad school on it.
- You should waive your right to see our recommendation letter, as the school’s Admissions Committees tend not to value recommendations if the candidate is able to see it.