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Five-Year Combined B.S. and M.S. in Actuarial Science

Program Objective

To provide an opportunity for outstanding undergraduates to earn both the Bachelor of Science (B.S.) and the Masters of Science (M.S.) degrees in Actuarial Science over the course of five years, with strong students graduating in as little as four years. This program is appropriate for students who wish to increase both the breadth and the depth of their knowledge by completing graduate level courses in probability, statistics, and finance, and by gaining firsthand research experience in actuarial science.

Combined Degree Requirements

  • 52 units for the B.S. in Actuarial Science, including
    • 44 core required UG units
    • 8 electives units
    • Courses PSTAT 160B and 130 are required for the combined degree.
    • (Note: students graduating with a 4-year degree complete 36 core units and 16 electives).
  • 39 units for the M.S. in Actuarial Science, including
    • 27 core required graduate units
    • 12 electives units


Units Summary

To complete a combined 5-year B.S./M.S. degree in Actuarial Science, students must complete 44 required core undergraduate degree units, 27 required core-graduate units, and 20 elective units.

Research Project

During the required course sequence PSTAT 296AB, students will complete a research project and submit a written report on topics of their interest in the area of actuarial science and financial mathematics. This course will be taught by faculty associated with the Center for Financial Mathematics and Actuarial Research (CFMAR), and supervised by the Actuarial Program Committee.

Minimum GPA Requirements

  • The B.S./M.S. Program in Actuarial Science requires a minimum grade-point average (GPA) of 3.2.
Time Table and Requirements for Admission

  • PRE-ENROLLMENT
    • Beginning of the sophomore year: PRE-ENROLL! Interested students should inform the PSTAT undergraduate advisor of their intention to pursue this program, as they need to plan their upper division studies a little differently from other undergraduates. Once they have contacted the office, their names will be placed on a pre-enrollment list.
  • PRE-APPLICATION
    • Spring quarter of the junior year: APPLY!Students should formally apply to the department for admission to the combined B.S./M.S. Program in Spring quarter of their junior year and no later than April 15th. Students may petition to apply after this time, but no later than two quarters before the student intends to advance to grad status.
  • ADMISSION
    • Spring quarter of the junior year: ADMISSION The Actuarial Program Committee, jointly with the department's Chair of Graduate Admissions, determines admission to the program.
  • ADVANCEMENT
    • Fall quarter of their 5th year or earlier: ADVANCE The advancement process takes a full quarter to complete; Students will begin this process the quarter before they intend to advance to graduate status: Winter quarter of their 4th year or earlier. Students should change their status to graduate as soon as they complete near 180 units of coursework, and no later than the Fall quarter of their 5th year. Units taken as an undergraduate which will be counted as graduate coursework must be redacted from the total number of units required for advancement.
Departamental Admission Procedures
  • Electronically submit a graduate departmental pre-application to the Graduate Program Advisor at gradinfo@pstat.ucsb.edu.
  • Electronically submit an unofficial UCSB transcript to the Graduate Program Advisor at gradinfo@pstat.ucsb.edu attached to the same email as your pre-application.
  • The pre-application requires that you submit the names of three PSTAT faculty members who were your instructors/mentors and are able to provide letters of recommendation at the request of the Actuarial Committee. We are particularly interested in receiving information from the core actuarial faculty (Profs. Duncan, Feldman, Fouque, Ichiba, Ludkovski) and/or instructors of PSTAT 160A-B, 170, 171, 172A-B, 173, and 174. Please note that we will not require the actual letters of recommendation unless you are admitted to the program on the departmental level.
  • Pre-application deadline: April 15th of your junior year. Students may petition to apply after this time, but no later than two quarters before the student intends to advance to grad status.
Advancing to Graduate Status for Pre-Admitted Students
  • No later than the Fall quarter of their 5th year, Pre-admitted students ready to advance to graduate status should contact the PSTAT Graduate Program Advisor (gradinfo@pstat.ucsb.edu) for instructions on completing the Advancement Request Memo with the Graduate Division.
  • Once you have been admitted on the departmental level, you must fulfill university graduate program application requirements. You will be prompted by grad div to fill out this application once you are ready to advance to graduate status. Please do not fill out an application until you have been prompted.
  • Students applying to 5-year programs do not need to pay the Graduate Division's application fee. In order to submit the application, please click on the "Payment by Check/Money Order" option.
  • Official UCSB application procedures for the Actuarial 5-year B.S./M.S. program include the following:
    • Electronic submission of online UCSB application (eapp)
    • Electronic submission of Statement of Purpose, Personal Achievements/Contributions, and Resume or CV to the online UCSB application (eapp)
    • Electronic submission of GRE scores. Scores may be supplied after the application is submitted, but no later than the beginning of the first day of the quarter that you are admitted into the Department. Although there is no minimum GRE score threshold, the score does factor into the admission decision. Please coordinate with ETS directly to send your scores to UCSB via institution code 4835. Please note that you must self-declare your scores in your application before the system can match your official scores.
    • Electronic submission of transcripts from all post-secondary institutions (including UCSB) to the online UCSB application (eapp)
    • Three letters of recommendation submitted to the Graduate Program Assitant at gradinfo@pstat.ucsb.edu (to be manually attached to your UCSB eapp)
  • Once you have submitted your official UCSB application (eapp), Email gradadmissions@graddiv.ucsb.edu to notify them of your submission. Copy (CC) the departmental Graduate Program Advisor at gradinfo@pstat.ucsb.edu on your email.
  • Deadlines for submitting the completed online application (eapp)
    • To advance to graduate status in Fall quarter of the NEXT academic year: MAY 1ST
    • To advance to graduate status in Winter quarter of the SAME academic year:NOVEMBER 1ST
    • To advance to graduate status in Spring quarter of the SAME academic year:FEBRUARY 1ST
Additional information
  • At the end of their senior year, students (whether or not admitted to graduate status) have the option of filling out a B.S. graduation form and leaving the program with a B.S. degree if all the B.S. requirements have been met.
  • Students may substitute attendance in two six-week summer sessions for one of the three academic quarters of required residence (non-consecutive attendance is allowed). A minimum of 2 units per quarter of graduate or upper-division work is required (i.e., 2 units in Session A and 2 units in Session B).
  • Students receiving financial help should check with the Financial Aid Office about financial aid specifics during the summer. In particulur, full-time status requires 4 units in a summer session.
Useful Links

B.S./M.S. Actuarial Program contacts:

Name Contact Title
Sarah Anderson
Anderson@pstat.ucsb.edu Undergraduate Advisor
Dr. Raya Feldman
Feldman@pstat.ucsb.edu Faculty Undergraduate Advisor; Co-director of Actuarial Program
Jamie Pillsbury
pillsbury@pstat.ucsb.edu Graduate Program Advisor
PRE-APP SUBMISSION
gradinfo@pstat.ucsb.edu Graduate Program Advisor
TRANSCRIPT OF SUBMISSION
gradinfo@pstat.ucsb.edu Graduate Program Advisor
LETTER OF REC SUBMISSION
gradinfo@pstat.ucsb.edu Graduate Program Advisor
GENERAL QUESTIONS
gradinfo@pstat.ucsb.edu Graduate Program Advisor

 


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