Drake University: The Kingdom of Actuarial Science

Welcome to the world of Actuarial Science at Drake University, where your journey to becoming an Actuarial wizard begins! Each semester, the Zimpleman College of Business at Drake prepares actuarial students for professional exams, internships, and full-time employment, and they have many opportunities for you to grow your network as a student. Additionally, there are actuarial science organizations that you can join here at Drake to learn even more about the field. Click here to watch a quick video on actuarial science at Drake University!

Professional Exams

One thing that any aspiring actuary will need to have under their belt is actuarial exams. At Drake, you will be well-prepared to pass six of these exams. Because Drake is recognized by the Society of Actuaries as a Center of Actuarial Excellence (CAE), exam credit can be earned in classes through the University Earned Credit (UEC) program. With this program, exams can be earned without having to take the exam, once you achieve the required grade in the class. This makes the process of acquiring exams much quicker for Drake students. However, not all exams can be covered by UEC, such as Exam P (Probability). These exams can be quite expensive, amount to as much as $250 for Exam Probability. Fortunately, Drake University has a couple of programs that lift this burden off students. Through the Drake Actuarial Students Society (DASS) and Gamma Iota Sigma professional fraternity, students can be reimbursed the cost of the exam if they pass it. This makes us a very appealing option for actuarial science students.

Furthermore, we also are a small school, which means you are more likely to get more attention from professors and more help when you need it to pass these exams. The data below is from the Drake 2022 data book and it shows our enrollment numbers in the actuarial science program over the years. 

Figure 1: Displays Actuarial Science Students through five years

Each year represents how many students in total over the four years are currently actuarial science majors. As you can see, a majority of these numbers are below 200, except for fall 2018, showing how our program is not large and that you will not feel like just a number. As a former actuarial science student myself, I can attest to it feeling very personal and professors and even other students being able to help you. 

Internship/ Full-Time Employment

When you attend Drake, many different tools are available to assist you in the search for internships and careers. Every fall, the College of Business has an actuarial science career fair that allows current students to connect with various companies and have interviews for both avenues. These companies come from right out of Des Moines, as well as other states and internationally to recruit students. To help prepare you for this event and other opportunities, the Zimpleman Career Services Center can assist you with reviewing resumes, mock interviews, career consultations, and information on upcoming events. You are not limited to these events; you can also use our Handshake system to view job openings throughout the nation. These events and services will provide you with ample opportunity to hold internships and obtain full-time jobs during your time at Drake.

Networking Opportunities

At Drake, we provide abundant opportunities for you to connect with actuarial professionals and students from other universities. Our year-round career events, including breakfast sessions with top insurance companies, career fairs, and collaborative projects with local companies, offer invaluable networking prospects. Many students have gained knowledge, secured jobs, and found mentors through these sessions, contributing to their success. Additionally, our campus actuarial organization hosts a symposium attracting students from various universities, fostering networking, and learning opportunities. These connections often lead to job referrals, knowledge exchange, and supportive relationships among peers, enriching your college experience and paving the way for a successful career in the actuarial field.

Actuarial Science Organizations

Here at Drake, we offer a wide variety of Actuarial Science organizations for our students. One option for students is to join one of the four Business Fraternities on campus. Business Fraternities offer students an opportunity to prepare for their professional careers after completing college. Students will receive a chance to hear speakers from various organizations, engage in social events with their brothers, serve in the community, and network with other Business Fraternities. Furthermore, Drake also offers an insurance innovation lab for actuarial students. Here, students can engage in insurance projects while building connections with insurance employers in Des Moines.

In conclusion, at Drake University, the Actuarial Science program offers a dynamic pathway to success for aspiring actuaries. With the recognized Center of Actuarial Excellence status, initiatives such as the University Earned Credit program, and financial support from student organizations, you will be well-equipped to excel in the professional exams. At Drake, there are also small class sizes that ensure personalized attention, and there are extensive internship and full-time employment opportunities, which provide a solid foundation for career growth. Join us at Drake University and unlock the door to a future filled with endless possibilities in the actuarial science world. Your journey to becoming a highly sought-after actuarial professional begins here!