Predict the future — without a crystal ball
Focus your studies by adding a specialization in Finance or Predictive Analytics, preparing you for careers in business, insurance, and finance.
How will the stock market perform next February? How much will insurance companies pay out in claims next year? With an Actuarial Science degree from Waterloo, you’ll have the answers.
In this program, you'll take courses such as the mathematics of finance, risk theory, and pension mathematics taught by professional actuaries in one of North America’s top actuarial schools.
Meanwhile, adding computer science, arts, and various math electives will give you the combination of technical and communication skills that employers are looking for.
Whether you choose the regular stream or the co-op stream, you'll graduate ready to enter a great job market with great prospects and high starting salaries.
Program highlights
Skip the professional exams. Because the Canadian Institute of Actuaries has accredited Waterloo’s Actuarial Science program, you can be exempted from several exams for your actuarial designation.
Social and academic support. Through the student-run Actuarial Science Club, you can find a mentor, get career advice, or meet new friends over board games and bubble tea.
- Available as a regular and co-op program
- Graduate with a Bachelor of Mathematics in Actuarial Science
- Offered by the Faculty of Mathematics
What will you learn?
First-year courses
You'll take a mix of Mathematics and Computer Science to give you the foundations for your upper-year classes. After first year, the majority of your required courses will be Actuarial Science courses with additional courses in Statistics and Mathematics, along with electives.
Learn about courses you'll take for your Actuarial Science degree.
Customize your degree in Actuarial Science
You can add additional areas of expertise by including a Finance or Predictive Analytics specialization.
Once you're a student, advisors can help you explore which minors or specializations may fit into your plans.
Get tips from Waterloo students
Sign up for insider advice that can help you now and in the future.
Monthly topics include how to choose a program, what it's like to be a Waterloo student, the differences between high school and university, and more.
Questions? Ask a student!
Contact a Faculty of Mathematics student ambassador to learn about their experience in the program.
Ask them questions such as why they chose their program, what the classes are like, and how you can get involved on campus.
Co-op = relevant paid work experience
Waterloo's co-op program, the largest in North America, is an amazing way to explore potential careers, learn to interview for jobs, graduate with up to two years of valuable experience – and make money!
Visit our Waterloo Stories website to learn about how Kerthanan is using the lessons he learned in his co-op terms for his career after university.
Sample co-op job titles
- Finance and accounting analyst
- Web solutions developer/technical analyst
- Defined benefits pension administrator
- Programmer enterprise portfolio management
- Actuarial analyst
- Data scientist
- Insurance associate
Co-op work-study sequence
Starting in second year, you'll normally alternate between school and work every four months, integrating your classroom learning with real-world experience. You can return to the same employer for a couple of work terms to gain greater knowledge and responsibility or work for different employers to get a broad range of experience.
Your first work term will be after first year (May to August 2025).
| Year | September to December (Fall) | January to April (Winter) | May to August (Spring) |
|---|---|---|---|
| First | Study | Study | Co-op |
| Second | Study | Co-op | Study |
| Third | Co-op | Study | Co-op |
| Fourth | Study | Co-op | Study |
| Fifth | Co-op | Study | - |
or halfway through second year (which can be January to April 2026).
| Year | September to December (Fall) | January to April (Winter) | May to August (Spring) |
|---|---|---|---|
| First | Study | Study | Off |
| Second | Study | Co-op | Study |
| Third | Co-op | Study | Co-op |
| Fourth | Study | Co-op | Study |
| Fifth | Co-op | Co-op | Study |
There are options where you can have your first work term in the spring term after first year and your second work term after second year, or in the fall term halfway through your second year.
Actuarial Science admission requirements
Ontario students: six Grade 12 U and/or M courses including
- Advanced Functions
- Calculus and Vectors
- Any 4U English
- One other 4U course
Recommended course: Grade 11 U Introduction to Computer Science
Admission averages: Individual selection from the high 80s
How to apply?
Apply to Mathematics and choose Actuarial Science as your major at the end of first year. Once you've applied, you'll need to complete the Admission Information Form as part of the application process.
We strongly encourage you to participate in the Canadian Senior Mathematics Contest and/or the Euclid Mathematics Contest to enhance your admissions status.
To be considered for entrance scholarships in the Faculty of Mathematics, you must write one or both of the contests. If you complete both contests, we'll use the results of the contest in which you performed best.
Connect with us
Questions about courses, programs, requirements, or careers?
Please contact our Faculty of Mathematics recruitment coordinator who can answer any questions you have.
