Landing an actuarial internship is a fantastic step toward a rewarding career in the actuarial profession, but making the most of that internship requires more than just showing up and completing tasks. In 2026, with the actuarial field evolving and the Society of Actuaries (SOA) exams P and FM remaining foundational, interns who strategically leverage their early projects and exam progress can significantly boost their career trajectory. Let’s talk about how you can maximize the value of your actuarial internship by connecting your SOA exam efforts and internship experiences to accelerate your growth and stand out in the competitive field.
Starting with the basics, passing SOA Exam P (Probability) and Exam FM (Financial Mathematics) early in your internship journey is one of the most impactful moves you can make. These exams demonstrate your quantitative skills and your ability to handle the core actuarial concepts employers value. Successfully passing these exams before or during your internship signals to employers that you’re serious and capable, making you a stronger candidate for challenging projects and future roles. Data from recent actuarial internship programs shows candidates with at least one passed SOA exam are more likely to receive full-time offers, underscoring the exams’ importance.
But it’s not just about the exams themselves—how you integrate the knowledge from these exams into your internship projects matters immensely. For example, if you’re working on risk assessment models or financial forecasting, explicitly applying concepts from Exam P or FM can deepen your understanding and make your contributions stand out. Say you’re tasked with analyzing insurance claim probabilities or calculating the present value of future cash flows; referencing your exam knowledge during discussions or reports can demonstrate your technical grounding and initiative.
Early projects during internships often involve data analysis, model building, or preparing presentations for leadership. Here’s where you can shine by being proactive:
Ask for projects that align with your exam topics. If you’ve passed Exam P, volunteer for probability-related modeling tasks. If you’re working on Exam FM, seek out financial calculations or interest rate modeling opportunities.
Use tools beyond Excel. Many firms now use programming languages like Python or VBA for actuarial modeling. If your internship offers exposure to these, take the initiative to learn and apply them. Milliman’s summer internship, for instance, emphasizes developing skills in Excel, VBA, Python, and SAS, which can differentiate you from your peers.
Build a project portfolio. Keep track of your work and quantify your contributions wherever possible. For instance, if you helped improve a model’s accuracy or streamlined a workflow, note the impact in terms of time saved or error reduction. This portfolio becomes a powerful asset when interviewing for full-time roles.
Networking during your internship can’t be overstated. Actuarial internships often pair interns with mentors or managers who can offer career guidance and introduce you to other professionals. Make an effort to connect with your mentors and colleagues, ask questions about their career paths, and seek feedback on your work. This relationship-building often leads to insider knowledge on upcoming job opportunities or exam study tips.
One practical approach to balancing internship work and exam preparation is effective time management and goal setting. Internships can be demanding, but setting a clear study schedule—even if it’s just an hour a day—and sticking to it can keep you on track for passing exams. Some companies even provide paid time off on exam days, recognizing the value of supporting actuarial exam progress. For example, Milliman offers paid time off for exam sittings, which reflects a growing trend among actuarial employers.
Don’t overlook the soft skills you develop during your internship. Communication, teamwork, and problem-solving are vital in actuarial roles. When you get the chance, participate actively in team meetings, present your findings clearly, and seek feedback to improve. These skills are often as important as technical knowledge when companies evaluate internship performance.
Looking ahead, internships in 2026 are becoming more flexible, with some offering hybrid work environments that blend remote and in-office days. Adapting to this model means you should be comfortable with virtual collaboration tools and maintaining productivity independently. Demonstrating adaptability and self-motivation in this setting can set you apart.
Statistics also show that interns who complete multiple SOA exams and gain diverse project experience during their internships tend to secure full-time offers faster and often at higher starting salaries. According to recent program trends, interns who passed two or more exams before graduation had a 30% higher chance of receiving a job offer than those who hadn’t passed any exams.
To recap actionable steps for maximizing your actuarial internship value:
Pass SOA Exams P and FM early to establish a strong technical foundation.
Align your internship projects with exam topics to apply and reinforce your learning.
Learn and use programming tools like Python, VBA, or SAS to enhance your modeling capabilities.
Build and document a project portfolio showing your impact and skills.
Network actively with mentors and colleagues to gain insights and opportunities.
Manage your time wisely to balance study and work responsibilities effectively.
Develop your communication and teamwork skills to complement your technical abilities.
Embrace flexible work models and demonstrate adaptability.
Every internship is a stepping stone, and how you leverage these experiences combined with your SOA exam progress can shape your actuarial career path profoundly. Treat your internship not just as a job but as a unique learning environment where you can build both your technical expertise and professional network. When you look back in a few years, you’ll appreciate the effort you put in today to maximize this opportunity.