Breaking into the actuarial profession starts with one crucial milestone: landing your first internship. For most actuaries, this isn&rsquo;t just a resume booster&mdash;it&rsquo;s the first real taste of applying mathematical thinking in real business settings, surrounded by professionals who speak your future language.
But if you&rsquo;re a student or recent graduate, figuring out where to start can feel like staring at a blank spreadsheet. What do employers want? Do you need to pass exams first? What if you have no experience?
This guide answers all of that. Step-by-step.
<h2>Step 1: Understand What an Actuarial Internship Actually Is</h2>
Before you send out a single application, know what you're signing up for. An <a href="https://www.actuarylist.com/experience-levels/intern" class="link underline">actuarial internship</a> is not a glorified summer job. It&rsquo;s a hands-on opportunity to contribute to the work that actuaries do every day&mdash;risk modeling, pricing insurance products, analyzing data, and applying statistical tools.
You&rsquo;ll likely work on tasks like:
<ul>
<li>Running Excel-based reserving models</li>
<li>Using R or Python to analyze historical claims data</li>
<li>Assisting with rate filings or client reports</li>
<li>Sitting in on meetings where actuarial strategy is discussed</li>
</ul>
The experience is designed to expose you to how actuarial thinking operates in the real world. More than that&mdash;it&rsquo;s a trial run. Employers often treat internships as pipelines for full-time roles.
<h2>Step 2: Start Building the Right Academic Foundation Early</h2>
Most internship postings will ask for students pursuing degrees in:
<ul>
<li>Actuarial Science</li>
<li>Statistics</li>
<li>Mathematics</li>
<li>Economics or Finance</li>
</ul>
This doesn&rsquo;t mean you can&rsquo;t apply if you&rsquo;re studying something else, but you&rsquo;ll have to make a stronger case in other areas.
What employers look for academically:
<ul>
<li>A strong GPA (3.0 is a typical minimum; 3.5+ makes you competitive)</li>
<li>Completion of core math courses: calculus, probability, statistics</li>
<li>Evidence of problem-solving and analytical thinking</li>
</ul>
If you're in your early university years, use this time to take relevant courses and join your school's actuarial club. It shows initiative and often connects you to internship leads.
<h2>Step 3: Pass At Least One Actuarial Exam (If You Can)</h2>
This step isn't strictly required&mdash;but it helps. A lot.
Passing SOA Exam P (Probability) or FM (Financial Mathematics) signals two important things to employers:
<ul>
<li>You&rsquo;re serious about the profession</li>
<li>You have the discipline to study independently (a huge part of actuarial work)</li>
</ul>
If you're just starting out, aim to pass your first exam by the end of your second year of university. If you&rsquo;re already a graduate, having at least one passed exam becomes even more important.
You don&rsquo;t need to wait until you've passed multiple exams. One is often enough to make your application credible.
Read this guide on <a href="https://www.actuarylist.com/blog/how-to-pass-actuarial-exams-quickly" class="link underline">how to pass actuarial exams quickly</a> &mdash; it breaks down practical strategies, study hours, and tools to help you pass on your first attempt.
<h2>Step 4: Learn the Technical Skills That Make You Stand Out</h2>
Here&rsquo;s the part many applicants overlook: being good at math isn&rsquo;t enough. You need to show you can apply it with tools used in the industry.
<h3>Skills that employers actively look for:</h3>
<ul>
<li>Excel: Not just formulas&mdash;pivot tables, VLOOKUPs, and formatting large datasets</li>
<li>R and/or Python: For statistical analysis and automation</li>
<li>SQL: For querying databases, especially in larger companies</li>
<li>Power BI or Tableau: Occasionally requested for visualization</li>
</ul>
Even basic knowledge of these tools can put you ahead of other candidates. Take a few free online courses or complete small projects and include them in your resume. Many companies appreciate self-starters.
<h2>Step 5: Create a Resume That Looks Like You Belong</h2>
Actuarial recruiters go through hundreds of resumes&mdash;many of them look identical. Don&rsquo;t be one of them.
Here&rsquo;s how to make your actuarial internship resume stand out:
<ul>
<li>Header: Name, contact info, LinkedIn Profile Link</li>
<li>Education: School, degree, expected graduation, GPA</li>
<li>Exams: List passed exams with dates</li>
<li>Skills: Only include tools you can talk about in an interview</li>
<li>Projects/Experience: Class projects using Excel/R, tutoring roles, leadership positions</li>
<li>Achievements: Math competitions, scholarships, club leadership</li>
</ul>
Use bullet points to describe accomplishments&mdash;not job duties. Instead of &ldquo;Worked on Excel,&rdquo; write &ldquo;Built a claims trend report using Excel pivot tables to identify 3-year growth patterns.&rdquo;
Keep it to one page. Clean, organized, and honest.
Need help crafting a standout resume? Check out our complete<a href="https://www.actuarylist.com/blog/actuarial-resume-guide" class="link underline">actuarial resume guide</a> for templates, tips, and mistakes to avoid.
<h2>Step 6: Craft a Cover Letter That Isn&rsquo;t a Snooze</h2>
A weak cover letter starts with &ldquo;I am writing to apply for&hellip;&rdquo; and ends up saying nothing unique.
A good cover letter shows:
<ul>
<li>That you understand what the company does</li>
<li>Why this internship fits your journey</li>
<li>How your background aligns with their work</li>
</ul>
Use specifics: If the internship focuses on casualty insurance and you took a class in risk theory, mention it. If you passed Exam P while balancing a full course load, share that. Your goal isn&rsquo;t just to show interest&mdash;it&rsquo;s to make them believe you&rsquo;re already thinking like one of their team.
<h2>Step 7: Apply at the Right Places, at the Right Time</h2>
Here&rsquo;s where students often go wrong. They either:
<ol>
<li>Wait too long and miss deadlines</li>
<li>Apply only to the big-name firms</li>
</ol>
Most actuarial internships for summer are posted in the fall, typically from August to November. Some roles open in the winter too, but many deadlines close by January.
<h3>Where to apply:</h3>
<ul>
<li><a href="https://www.actuarylist.com/" class="link underline">ActuaryList.com</a> &mdash; updated listings by location and role</li>
<li>SOA Job Board / CAS Career Center</li>
<li>LinkedIn</li>
<li>Company career portals</li>
<li>Campus career fairs</li>
</ul>
Pro tip: Keep a spreadsheet. Track every application, deadline, status, and contact. It helps you stay organized&mdash;and persistent.
<h2>Step 8: Practice Interviewing Like You&rsquo;re Already in the Job</h2>
If you&rsquo;ve landed an interview&mdash;congrats! But now comes the part that really decides your offer.
<h3>You&rsquo;ll likely face questions like:</h3>
<ul>
<li>&ldquo;Why do you want to be an actuary?&rdquo;</li>
<li>&ldquo;Tell me about a time you used data to solve a problem.&rdquo;</li>
<li>&ldquo;How would you explain a complex idea to someone without a math background?&rdquo;</li>
</ul>
Prepare examples using the STAR method (Situation, Task, Action, Result). Practice speaking clearly about your technical knowledge without sounding robotic.
Also, brush up on basic probability questions, Excel exercises, or logic puzzles. These often come up in interviews, especially for internships that involve technical modeling.
<h2>Step 9: Network (Yes, Even Before You Land the Internship)</h2>
Many students wait too long to start networking. But building relationships in the actuarial field doesn&rsquo;t require decades of experience&mdash;it starts with a simple LinkedIn message.
<h3>How to start:</h3>
<ul>
<li>Connect with alumni from your university who work in actuarial roles</li>
<li>Attend actuarial society events or webinars (many are free)</li>
<li>Ask for 15-minute informational chats&mdash;not jobs</li>
<li>Follow actuaries on LinkedIn and comment thoughtfully on their posts</li>
</ul>
Bonus: Mentioning a referral or mutual contact in your application or interview can give you a quiet edge.
<h2>Step 10: Follow Up, Stay Engaged, and Keep Improving</h2>
After you apply or interview, don&rsquo;t disappear. Send a brief thank-you email after interviews, and if you haven&rsquo;t heard back in two weeks, it&rsquo;s okay to follow up politely.
Meanwhile:
<ul>
<li>Keep applying. Rejections are part of the game.</li>
<li>Keep learning. Pick up a new Excel trick or SQL function.</li>
<li>Stay involved in actuarial forums, job boards, and networking groups.</li>
</ul>
Consistency beats brilliance. The people who get offers are usually the ones who showed up again and again&mdash;with slightly better skills, sharper resumes, and stronger preparation each time.
<h2>Final Thoughts</h2>
Getting your first actuarial internship is a marathon, not a sprint. For most people, it doesn't happen on the first try&mdash;and that's okay. What matters is that you&rsquo;re doing the right things: building skills, studying, applying, learning.
Every experienced actuary remembers what it felt like to chase that first internship. You're not behind&mdash;you&rsquo;re right on track.
<h2>FAQs &ndash; Quick Answers to Common Questions</h2>
Q: Can I get an actuarial internship without passing any exams? Yes, but it&rsquo;s harder. Passing even one shows initiative and increases your chances.
Q: Is Excel enough for an actuarial internship? Excel is essential&mdash;but not enough on its own. Learn basic R or Python to stand out.
Q: I&rsquo;m a recent grad with no experience. Am I too late? No. Many companies accept recent grads as interns, especially if you&rsquo;ve passed exams or are career switching.
Q: Do actuarial internships pay well? Yes. In the U.S., many pay between $20&ndash;30/hour. In the U.K., &pound;300&ndash;400/week is typical. Pay varies by country and company.

Learn how to get an actuarial internship with our step-by-step plan. Tips for students and grads on exams, skills, resumes, and interviews.

How to Get an Actuarial Internship: Step-by-Step Plan for Students and Grads