As the minds responsible for identifying and projecting potential risks, it should be no surprise that actuarial professionals are also among the most career-stable employees in times of volatility. It’s precisely this volatility that makes their work so valuable.
This year, U.S. News & World Report ranked “Actuary” as the 5th best tech job, 7th best STEM job, and 10th overall best job (based on data collected on future prospects, wage potential, employment, job safety and stability, and work-life balance). Even as artificial intelligence is increasingly implemented in the workplace, human insight remains essential within the actuarial profession to interpret information ethically and with nuance.
The M.S. in Actuarial Science program at Columbia University School of Professional Studies offers both the curriculum to prepare students for actuarial work across fields including insurance, finance, accounting, risk management, and consulting, as well as the opportunities (via the Career Design Lab and other resources) to achieve their career goals.
Program Director Regina Dolgoarshinnykh shares an overview of the actuarial profession and the ways SPS prepares students to find and address those risks.
What does the current state of the actuarial profession look like? How has demand for actuaries held up against volatility and economic downturns?
The actuarial profession continues to demonstrate exceptional resilience. According to DW Simpson’s 2025 Market Trends report, the unemployment rate for actuaries remains under 1%—a strong indicator of sustained demand across insurance, healthcare, and financial sectors. This stability is driven by the growing need for risk management expertise in an increasingly volatile world.
Historically, actuaries have weathered economic downturns better than most financial professionals. During the 2008 financial crisis, actuarial science saw only ~2% job loss, compared to ~25% in investment banking. Their ability to adapt to evolving risks—financial, environmental, and cyber—has made them indispensable.
*Resilience Score reflects adaptability, job security, and reputation recovery post-crisis.
How has the actuarial field responded or adapted to the use of new technologies (like AI in the workplace), and how do actuaries respond to evolving organizational risks (environmental, financial, cyber, etc.)?
Actuaries have embraced AI and machine learning to enhance predictive modeling, automate classification, and simulate complex risk scenarios. These tools amplify actuarial judgment rather than replace it. Actuaries remain essential in interpreting outputs, ensuring ethical use, and aligning models with regulatory standards.
In terms of emerging risks:
- Environmental: Modeling climate exposures and catastrophe probabilities.
- Financial: Enterprise risk management, stress testing, and systemic risk modeling.
- Cyber: Breach likelihood modeling, reputational fallout analysis, and cyber insurance pricing.
Who is the M.S. in Actuarial Science at Columbia University School of Professional Studies for?
The program is designed for aspiring actuaries, career changers with quantitative backgrounds, recent graduates in math, statistics, economics, or engineering, and international students seeking a globally recognized credential. Whether students are starting fresh or deepening their expertise, Columbia offers a launchpad into a resilient and rewarding profession.
How is Columbia's Actuarial Science program uniquely suited to prepare students for an actuarial career in today's world?
Columbia’s program blends tradition with innovation. The curriculum covers core actuarial exams while integrating data science, programming, and financial modeling. Students explore career pathways in insurance, consulting, healthcare, climate risk, and tech. Courses are taught by industry leaders, and professional development is integrated into the experience—resume workshops, development of interviewing and networking skills, a biweekly proseminar series featuring leading actuaries, and an actuarial career fair.
Where do you see the actuarial profession going from here?
The profession is expanding into sustainability and ESG modeling, health analytics, AI ethics and governance, and applications in fintech and insurtech. As risk becomes more complex and interconnected, actuaries will continue to serve as strategic translators—turning data into decisions and uncertainty into opportunity.
About the Program
The Master of Science in Actuarial Science program at Columbia University is internationally renowned for its breakthrough curriculum and esteemed faculty. The program equips students with the tools, skills, and knowledge to excel in today’s rapidly evolving actuarial and related workplaces, with a course of study designed to anticipate and exceed industry needs. Students are prepared to assume leadership positions and meet ever-expanding opportunities. Columbia’s location in New York City, the financial and actuarial capital of the world, allows students access to the world’s foremost practitioners and leaders.
Learn more about the program here.
