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Summer Actuarial Development Program Jobs in Chicago, IL

Cvshealth

Analyst, Actuarial (ADP)

Chicago, IL

$74K/yr

The Actuarial Development Program is a full-time, dynamic, 4 1/2 year (minimum) program designed to develop individuals entering the Actuarial field into future leaders. The program provides you with ...

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All JobsSummer Actuarial Development Program JobsSummer Actuarial Development Program Jobs in Chicago, IL

Summer Actuarial Development Program information

See Chicago, IL salary details

$52.5K

$117.1K

$162.8K

How much do summer actuarial development program jobs pay per year?

As of Aug 15, 2026, the average yearly pay for summer actuarial development program in Chicago, IL is $117,105.00, according to ZipRecruiter salary data. Most workers in this role earn between $101,500.00 and $130,800.00 per year, depending on experience, location, and employer.

What is the difference between Summer Actuarial Development Program vs Actuarial Analyst?

AspectSummer Actuarial Development ProgramActuarial Analyst
CredentialsTypically students pursuing actuarial exams, no full certification requiredUsually holds or is pursuing actuarial exams, often with a degree in mathematics or related field
Work EnvironmentInternship setting, temporary, focused on training and exposureFull-time role, responsible for ongoing actuarial work and analysis
Employer & Industry UsageUsed by insurance companies, consulting firms during summer internshipsFull-time employment in insurance, consulting, or financial services

The Summer Actuarial Development Program is a temporary internship designed to train aspiring actuaries, while an Actuarial Analyst is a full-time role requiring more experience and ongoing exam progress. The program offers exposure and training, whereas the analyst role involves performing actuarial tasks regularly.

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Summer Actuarial Development Program jobs near you

Actuarial Intern Summer 2027 (CMH Health)

Milliman

Chicago, IL • On-site

Full-time

Medical, Life, Retirement, PTO

Posted 18 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

Sourced by ZipRecruiter

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

Company size

1,001 - 5,000 Employees

Headquarters location

Seattle, WA, US

Year founded

1947

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