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Internship Actuarial Modeling Jobs (NOW HIRING)

Ameriprise Financial

Actuarial Analyst

Minneapolis, MN · On-site

$66K - $91K/yr

... actuarial models. Prepare related reports, summarizing and communicating results. Key ... Actuarial internship experience. * Experience with MS Excel, VBA, MS Access, and other database ...

Ameriprise Financial

Actuarial Analyst

Minneapolis, MN · On-site

$66K - $91K/yr

... actuarial models. Prepare related reports, summarizing and communicating results. Key ... Actuarial internship experience. * Experience with MS Excel, VBA, MS Access, and other database ...

Nationwide Insurance and Financial Services

$23 - $50/hr

The Nationwide ® Financial Services Actuarial Intern Program is a 12-week summer internship in ... similar background in modeling, programming or quantitative analysis * Superior academic ...

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How much do internship actuarial modeling jobs pay per hour?

As of Sep 5, 2026, the average hourly pay for internship actuarial modeling in the United States is $24.28, according to ZipRecruiter salary data. Most workers in this role earn between $17.55 and $25.48 per hour, depending on experience, location, and employer.

What is an internship in actuarial modeling?

An Internship in Actuarial Modeling is a temporary position, typically for students or recent graduates, that provides hands-on experience in applying mathematical and statistical methods to assess risk in insurance, finance, and other industries. Interns work under the supervision of experienced actuaries and may assist with building models, analyzing data, and preparing reports. This role helps interns develop key technical skills and gain practical exposure to the actuarial profession, often serving as a stepping stone to a full-time actuarial career.

What types of projects or tasks can I expect to work on during an internship in actuarial modeling?

As an intern in actuarial modeling, you will likely participate in a variety of hands-on projects, such as building and validating predictive models, analyzing large datasets, and preparing reports to support business decisions. You'll often use statistical software and Excel to assist with tasks like pricing, reserving, or risk assessment. Collaboration is key, as you'll work closely with experienced actuaries, analysts, and sometimes IT or finance teams, gaining exposure to real-world applications of actuarial science. This experience will help you develop technical and communication skills that are valuable for a future actuarial career.

What are the key skills and qualifications needed to thrive as an internship in actuarial modeling, and why are they important?

To thrive in an Internship Actuarial Modeling role, you need strong mathematical and statistical skills, proficiency in data analysis, and progress towards or completion of actuarial exams. Familiarity with actuarial software (such as SAS, R, or Excel), as well as knowledge of programming languages like Python or VBA, is often required. Analytical thinking, attention to detail, and effective communication are crucial soft skills for interpreting complex data and collaborating with teams. These skills are important for producing accurate models, supporting business decisions, and ensuring regulatory compliance in actuarial work.

What is the difference between Internship Actuarial Modeling vs Actuarial Analyst?

AspectInternship Actuarial ModelingActuarial Analyst
CredentialsTypically pursuing actuarial exams, student statusOften has completed some exams, may hold entry-level credentials
Work EnvironmentInternship setting, supervised, learning-focusedFull-time, professional environment, more independent
Employer & IndustryInsurance companies, consulting firms, during internship periodsInsurance, finance, consulting firms, permanent role

Internship Actuarial Modeling roles are temporary, focused on training and skill development, often held by students. Actuarial Analysts are full-time professionals responsible for analyzing data, building models, and supporting decision-making. The main difference lies in experience level, responsibilities, and employment status, with internships serving as a stepping stone toward a full actuarial career.

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Internship Actuarial Modeling jobs near you
Infographic showing various Internship Actuarial Modeling job openings in the United States as of August 2026, with employment types broken down into 88% Full Time, 10% Part Time, and 2% Contract. Highlights an 85% Physical, 4% Hybrid, and 11% Remote job distribution, with an average salary of $50,506 per year, or $24.3 per hour.

Actuarial Intern Summer 2027 (CMH Health)

Milliman

Chicago, IL • On-site

Full-time

Medical, Life, Retirement, PTO

Re-posted 8 days ago

Milliman rating

8.5

Company rating: 8.5 out of 10

Based on 7 frontline employees who took The Breakroom Quiz

Job description

Exciting Summer 2027 internship opportunities!
Join our CMH Health Practice!
Milliman's CMH Health Practice is looking for motivated college students pursuing a bachelor's or master's degree to participate in a summer actuarial internship. We offer competitive pay with the opportunity to work on real world assignments in our vibrant, dynamic, and growing health consulting practice. This summer internship requires candidates to work four days per week (Monday through Thursday) at one of our three CMH Health office locations (Chicago, Illinois, Milwaukee, Wisconsin, or Hartford, Connecticut). Friday is an optional work day from home.
Who We Are
Independent for more than 75 years, Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world's most critical and complex issues, including retirement funding, healthcare financing, risk management, regulatory compliance, data analytics, and business transformation.
Our Actuarial Internship Provides You
  • Challenging assignments with practical on the job experience
  • Work alongside some of the leading experts within the healthcare industry
  • An opportunity to present on your summer experience
  • Exposure to a variety of actuarial functions, including experience studies, valuation, pricing, model development, and forecasting
  • An opportunity to work alongside Milliman actuarial consultants, including those in senior management
  • Development of your technical skills with platforms such as Excel, VBA, Python, and SAS
  • Attendance at professional staff meetings and department meetings
  • Day of exam sitting is paid time off
  • Mentorship from experienced actuaries
  • Housing stipend may be provided
  • Competitive pay
  • Prospect of securing a full-time position with Milliman

Job Responsibilities
  • Perform data analysis using Excel, VBA, SAS, Python, and proprietary Milliman programs to assist with consulting for various healthcare segments (Medicare Advantage and Part D, Commercial / ACA, Medicaid, Long Term Care, Pharmacy, Provider, and more)
  • Participate in consulting activities including pricing, reserving, financial projections, model development, forecasting, and mergers and acquisitions
  • Responsible for reviewing the work of peers and assisting with research and product development
  • Coordinate with Consultants, Managers, Professional Staff, and Interns as a project team to present client reports and deliverables
  • Responsible for the majority of the technical work, which may include analyzing data, completing actuarial calculations, developing and utilizing actuarial models, and implementing software solutions

Minimum requirements
  • Pursuing a bachelor's or master's degree in actuarial science, mathematics, economics, finance, accounting, or another major with quantitative course work
  • At least one actuarial exam passed
  • Must be able to work onsite at least four days (Monday through Thursday) per week throughout the duration of this summer internship at one of our three CMH Health office locations (Chicago, Illinois, Milwaukee, Wisconsin, or Hartford, Connecticut).
  • Junior standing is preferred, will accept sophomore standing at time of application

Competencies and Behaviors that Support Success in this Role
  • Ambition and excitement for professional development within the actuarial field
  • Good academic standing (3.2 grade point average or above is preferred)
  • Previous internship or relevant work experience
  • Leadership experience and involvement in extra-curricular activities
  • Experience working with SAS, VBA, or other coding languages is advantageous
  • Strong communication skills (both verbal and written)
  • A detail-oriented self-starter with an entrepreneurial spirit inspired to contribute to the success of any project
  • Analytical thinking skills to evaluate analyses for downstream impact
  • Can complete project deliverables, meet deadlines, and ensure compliance with quality procedures
  • Strong time management skills
  • Ability to work independently and in a team environment
  • Demonstrates integrity in all functions of work

Candidates should have academic exposure to Microsoft Excel and basic actuarial concepts.
Individual(s) must be legally authorized to work in the United States without the need for immigration support or sponsorship from Milliman now or in the future.
The Team
Milliman is one of the leading experts in healthcare financing and delivery. We advise clients on a wide range of issues-from assessing the impact of healthcare reform on organizations or populations to streamlining operations while advancing the quality of patient care. Our consulting work is supported by a powerful toolkit of data analytics solutions and informed by the most trusted, comprehensive set of cost guidelines in the industry.
Through a team of professionals ranging from actuaries to clinicians, technology specialists to plan administrators, we offer unparalleled expertise in employee benefits, investment consulting, healthcare, life insurance and financial services, and property and casualty insurance.
Location:
Candidates must be able to work onsite at least four days per week (Monday through Thursday) at any one of our three CMH Health office locations (Chicago, IL, Milwaukee, WI, or Hartford, CT). The expected application deadline for this job is January 17, 2027.
Compensation:
The overall range for this role is $21 - $46. For candidates residing in:
  • Alaska, California, Connecticut, Illinois, Maryland, Massachusetts, New Jersey, New York City, Pennsylvania, Virginia, Washington, or the District of Columbia the range is $23 - $46.
  • All other locations the range is $21 - $37.

A combination of factors will be considered, including, but not limited to, education, relevant work experience, qualifications, skills, certifications, etc. This is a non-exempt overtime eligible role.
Benefits:
  • Employee Assistance Program (EAP) - Confidential support for personal and work-related challenges.
  • 401(k) Plan - When an employee reaches 1,000 hours worked within 12 consecutive months, they become eligible for a 401(k) plan that includes a company matching program and profit-sharing contributions.
  • Paid Time Off (PTO) - Begins accruing on the first day of work; Interns, Temporary, and Seasonal Employees will earn PTO each pay period, based on 1 hour for every 30 hours worked.
  • Transportation - Pre-tax savings for eligible transit and parking expenses.

Equal Opportunity
All qualified applicants will receive consideration for employment, without regard to race, color, religion, sex, sexual orientation, national origin, disability, or status as a protected veteran.
#LI-CS1
Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
This employer is required to notify all applicants of their rights pursuant to federal employment laws.
For further information, please review the Know Your Rights notice from the Department of Labor.

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About Milliman

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Milliman delivers market-leading services and solutions to clients worldwide. Today, we are helping companies take on some of the world's most critical and complex issues, including retirement funding and healthcare financing, risk management and regulatory compliance, data analytics and business transformation.

Industry

Business management consulting and fitness and sports centers

Company size

1,001 - 5,000 Employees

Headquarters location

Seattle, WA, US

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