Home » Careers » Actuarial science: what it is, where to study, what you can do with it
Back

Actuarial science: what it is, where to study, what you can do with it

15th May 2018 Posted by: Student World Online

STUDYING actuarial science could lead numerate international students to careers with the world's largest companies. 

Below we answer all of the main questions about what actuarial science is, where you can study it and what you can do with it to build a career.

what is actuarial science course  actuarial science universities  actuarial science entry requirements  actuarial science courses  actuarial science salary  actuarial science jobs  actuarial science degree  actuarial science exams

What is actuarial science?

The essential element of actuarial science is the calculation of risk through the use of enormous sources of data using mathematical and statistical methods. 

Companies who need to make incredibly intricate, detailed and reliable projections about the risks to their investments and operations will almost certainly have actuarial departments.

One clear example would be insurers - these enormous financial institutions need to cover the likelihood that things can go wrong for their clients, but also make sure they are offering the right prices to remain competitive.

Take a look at the stylish stationery available through our partner Paperchase, or continue reading below...

what is actuarial science course  actuarial science universities  actuarial science entry requirements  actuarial science courses  actuarial science salary  actuarial science jobs  actuarial science degree  actuarial science exams

Where can I study actuarial science? 

Actuarial science is a huge field, and most major universities will offer courses which could lead towards careers in the actuarial profession. 

Like law and medicine courses, almost all of the top universities in the UK offer actuarial science degrees.

The courses which prove to be the best training for the world of professional actuarial science roles will be the ones which prepare graduates to communicate their hard numbers work effectively.

Take a look at online courses available from our partner edX, or continue reading below... 

what is actuarial science course  actuarial science universities  actuarial science entry requirements  actuarial science courses  actuarial science salary  actuarial science jobs  actuarial science degree  actuarial science exams

What are the entry requirements for an actuarial science degree course?

The general rules around numeracy have become loosened to an extent over recent years, especially when it comes to jobs such as stockbroking and some banking roles where good interpersonal skills are a hugely important part of many roles. 

But for those who are not particularly numerate, actuarial science is probably going to be a tough ask. 

The role requires a very high aptitude for mathematics and statistics, so if you've always been one of the creative students at school who struggles with maths and sciences, this may not be for you.

Take a look at money exchange deals by our partners WorldRemit...

what is actuarial science course  actuarial science universities  actuarial science entry requirements  actuarial science courses  actuarial science salary  actuarial science jobs  actuarial science degree  actuarial science exams

Which actuarial science courses are the best? 

Yale, Harvard, MIT and Cambridge are among the very highest-regarded actuarial science institutions in the world. 

But you'll also find that other major institutions such as the London School of Economics also teach this subject, and are very highly rated. 

According to the most recent rankings compiled by TopUniversities, the University of Cambridge is the premier institution globally. 

Take a look at the stylish stationery available through our partner Paperchase, or continue reading below...

what is actuarial science course  actuarial science universities  actuarial science entry requirements  actuarial science courses  actuarial science salary  actuarial science jobs  actuarial science degree  actuarial science exams

What are the starting salaries for entry-level actuarial science positions? 

The average starting salary for an entry-level position is approximately £32,500 per year. 

However, the salaries in this profession are highly dependent on seniority through passing examinations. 

It's not uncommon for actuarial directors to make hundreds of thousands of pounds per year, but this is an engrossing and academically challenging profession. 

Take a look at online courses available from our partner edX, or continue reading below... 

what is actuarial science course  actuarial science universities  actuarial science entry requirements  actuarial science courses  actuarial science salary  actuarial science jobs  actuarial science degree  actuarial science exams

Who are the typical employers of actuaries?

Major employers are almost guaranteed to feature lots of insurance companies. 

So take a look at major global insurers such as AXA, Zurich, Prudential and Munich Re. 

Newsletter

Sign up for our newsletter

Newsletter

Sign up for our newsletter


Follow Us

© 2018 Student World Online Registered in England and Wales 08074528
Terms of Use | Privacy Policy | Contact us