All applicants to the Master of Risk and Insurance program must possess a baccalaureate degree from an accredited institution or the international equivalent prior to enrollment at the graduate level.

To apply, candidates should submit the following:

  • Butler Application
  • Personal Statement
  • Two Letters of Recommendation
  • Official Transcripts or copies of official transcripts from all colleges and universities where candidates:
    • Earned a degree
    • Earned more than 15 credits (undergraduate and graduate)
    • Completed any program prerequisite (regardless of number of credit hours)
    • Completed courses for which candidates are applying for transfer credit
  • Current Résumé
  • GMAT/GRE Scores (applicants may request a GMAT/GRE waiver, see below)

International applicants must additionally submit the following:

Copies of official transcripts may be uploaded in the online application for application review only. Applicants who receive an offer of admission will be required at that time to submit official final transcripts issued directly from the institution(s) for verification prior to enrollment. More information is available in the application for admission.

2022–2023 Academic Year
  • February 1, 2023: Priority application deadline for the 2023 cohort
  • April 1, 2023: Final application deadline for 2023 cohort
  • May 8, 2023: 2023 cohort start date
  • June 7–10, 2023: Summer In-Residence Experience in Indianapolis (tentative dates)

GMAT/GRE waivers are considered on a case-by-case basis and are not guaranteed. Applicants that wish to apply for a GMAT/GRE waiver must meet the below requirements for the highest conferred degree they have obtained. Applicants can request the waiver by completing the GMAT/GRE Waiver Request Form.

Applicants that meet one of the below eligibility requirements may submit a GMAT/GRE waiver:

  • Conferred Bachelor’s degree from an accredited institution with a cumulative GPA of 3.0 or higher;
  • Four or more years of professional work experience (excluding internships);
  • Possess proof of at least one Professional Risk Management, Insurance or Financial Services Designation, including:
    • Chartered Property and Casualty Underwriter (CPCU);
    • Certified Insurance Counselors (CIC);
    • Certified Financial Planner Certificate (CFP®);
    • Fellow, Life Management Institute (FLMI);
    • Chartered Life Underwriter (CLU);
    • Chartered Financial Consultant (ChFC);
    • Associate of the Society of Actuaries (ASA);
    • Associate in Captive Insurance (ACI);
    • Fellow of the Society of Actuaries (FSA);
    • Associateship in the Casualty Actuarial Society (ACAS);
    • Fellowship in the Casualty Actuarial Society (FCAS);
    • Certified Employee Benefit Specialist (CEBS);
    • Certified Employee Benefit Specialist Fellow (CEBS Fellow);
    • Commercial Lines Coverage Specialist (CLCS);
    • Associate in Risk Management (ARM);
    • Two or more associate designations from The Institutes;
    • Other certifications may qualify upon further review. Please contact the MSRI Program at for further information.

Waiver decisions will be communicated to the applicant within 10–15 business days via email.  Applicants that do not meet one of the above criteria will be denied a GMAT waiver.