Insurance

Types of Degrees Insurance Majors Are Getting

The following table lists how many insurance graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Bachelor’s Degree	1,164
Basic Certificate	1,035
Master’s Degree	85
Graduate Certificate	30
Undergraduate Certificate	12
Associate Degree	8

What Insurance Majors Need to Know

People with careers related to insurance were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.

Knowledge Areas for Insurance Majors

This major prepares you for careers in which these knowledge areas are important:

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• Law and Government - Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Insurance Majors

insurance majors are found most commonly in careers in which the following skills are important:

• Speaking - Talking to others to convey information effectively.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Insurance Majors

Insurance majors often go into careers where the following abilities are vital:

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Speech Clarity - The ability to speak clearly so others can understand you.

What Can You Do With a Insurance Major?

Below is a list of occupations associated with insurance:

Job Title	Job Growth Rate	Median Salary
Business Professors	18.0%	$83,960
Insurance Appraisers, Auto Damage	5.1%	$62,520
Insurance Sales Agents	9.9%	$50,600

Who Is Getting a Bachelor’s Degree in Insurance?

This is a less frequently chosen undergraduate major. Only 1,505 students graduated with a bachelor’s degree in insurance in 2021, making it rank #146 in popularity. This major attracts more men than women. About 66% of the graduates in this field are male.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of insurance majors is as follows:

Race/Ethnicity	Number of Grads
Asian	57
Black or African American	47
Hispanic or Latino	116
White	846
International Students	43
Other Races/Ethnicities	55

Geographic Diversity

Americans aren’t the only ones with an interest in Insurance. About 3.7% of those with this major are international students.

Amount of Education Required for Careers Related to Insurance

Some careers associated with insurance require an advanced degree while some may not even require a bachelor’s. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to insurance have obtained the following education levels.

Education Level	Percentage of Workers
High School Diploma - or the equivalent (for example, GED)	10.7%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	6.5%
Some College Courses	7.9%
Associate’s Degree (or other 2-year degree)	8.5%
Bachelor’s Degree	42.2%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	2.0%
Master’s Degree	4.7%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	0.1%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	0.1%
Doctoral Degree	16.8%

Online Insurance Programs

The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	9	2
Certificate (2-4 Years)	1	0
Associate’s Degree	22	5
Bachelor’s Degree	7	3
Post-Baccalaureate	0	0
Master’s Degree	11	6
Post-Master’s	0	0
Doctor’s Degree (Research)	1	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Majors Related to Insurance

You may also be interested in one of the following majors related to insurance.

Major	Number of Grads
Business Administration & Management	395,227
Accounting	84,760
Finance & Financial Management	58,013
General Business/Commerce	57,204
Management Sciences & Quantitative Methods	56,747
Marketing	52,820
Human Resource Management	25,350
Business Support & Assistant Services	16,604
Hospitality Management	14,076
Entrepreneurial Studies	12,707
Management Information Systems	11,695
Real Estate	7,783
International Business	7,505
General Sales & Marketing	5,965
Other Business, Management & Marketing	4,903
Business/Managerial Economics	4,885
Specialized Sales, Merchandising & Marketing	4,322
Construction Management	4,158
Taxation	1,257
Business/Corporate Communications	837
Telecommunications Management	58

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By Nick Youngson under License

More about our data sources and methodologies.