New Programs Approved in the ISU College of Business

Iowa’s Board of Regents have approved two new programs for the Iowa State University Ivy College of Business: an undergraduate major in actuarial science, and a master of real estate development — the first in Iowa.

Actuarial science is the discipline that applies financial, mathematical, and statistical methods to assess risk in insurance, finance and other industries and professions. This new major at Iowa State was created in partnership with the Departments of Mathematics and Statistics. Students majoring in this area will acquire the knowledge base and skills in finance, mathematics and statistics needed to pass the five preliminary actuarial exams. Creating an actuarial science major within the Ivy College of Business enables students to gain the business knowledge and skills needed in the insurance industry.

This new major is a great opportunity for students. Iowa, and Des Moines in particular, are home to a number of insurance companies, making it the second biggest insurance center in the country. Having a program at Iowa State that is close to Des Moines helps the industry, and is a benefit for students as they seek internships and full-time employment.

CNNMoney.com rates actuaries as being one of the best jobs in America, featuring high demand, six-figure incomes and no graduate school required. The median annual salary for entry level actuaries is $67,668, according to the salary.com website.

Iowa State students can declare the major starting in fall 2019. Questions about the actuarial science program may be directed to Rahul Parsa, Director of Actuarial Program at raparsa@iastate.edu.