Actuarial Science Career Guide: Roles, Salary 2025 & Future Scope
Parul ThapaAssistant Manager
Actuarial Science is a Scientific field which focuses on managing and evaluating risks. Popular jobs are Actuarial Analysts, Pricing Actuaries, Underwriting Actuaries, etc. Salary that a graduate can earn is around INR 7 Lakh. Popular sectors are Banking, Finance, & Insurance, Information Technology, Healthcare & Medicine, CA Firms, etc.
Actuarial Science Jobs
Candidates can see table below:
| Job Profiles | Job Description | Average Salary |
|---|---|---|
| Actuarial Specialist | They use advanced mathematical and statistical techniques to determine financial risks by calculating the probability of future events and their potential impact and advise companies on how to manage and minimize the risks. | INR 9.9 LPA |
| Auditor | Their job is to ensure that a business is following compliance rules while managing the risks. They examine financial statements, internal controls, and business processes, analyze financial data and offer advice on improvement areas. | INR 4.5 LPA |
| Actuarial Manager | They review the pricing of products, manage financial reports, and analyse statistical data for the company. They also prepare presentations and reports to explain their findings to the management. | INR 18.4 LPA |
| Business Analyst | A Business Analyst's job is to use data analytics to evaluate processes, determine requirements, and offer data-driven reports and suggestions to executives and stakeholders. | INR 9.6 LPA |
| Risk Analyst | They forecast and monitor market trends, conduct research to assess risks, make risk management reports, recommend precautionary measures, and so on. | INR 7.9 LPA |
| Investment Analyst | They evaluate financial data to help and advise clients and companies about their investment decisions. They also offer information to help traders, managers, and brokers regarding investments. | INR 11 LPA |
Actuarial Science Jobs: Specialisation Wise
Candidates can see table below:
|
Specialisations |
Entry-Level CTC |
Mid-Level CTC |
Senior-Level CTC |
|---|---|---|---|
|
Life Insurance |
INR 4.5 - 6 LPA |
INR 8 - 12 LPA |
INR 15 - 20 LPA |
|
General Insurance |
INR 4 - 5.5 LPA |
INR 7.5 - 10.5 LPA |
INR 14 - 18 LPA |
|
Reinsurance |
INR 5 - 6.5 LPA |
INR 9 - 13 LPA |
INR 16 - 22 LPA |
|
Investment & Pensions |
INR 5.5 - 7 LPA |
INR 9.5 - 14 LPA |
INR 17 - 25 LPA |
|
Risk Management |
INR 4.5 - 6 LPA |
INR 8 - 12 LPA |
INR 15 - 20 LPA |
|
Data Science & Analytics |
INR 6 - 8 LPA |
INR 10 - 15 LPA |
INR 18 - 28 LPA |
|
Consulting |
INR 5 - 7 LPA |
INR 9 - 13 LPA |
INR 16 - 24 LPA |
Actuarial Science Scope in India: Jobs, Salary and Further Education
Candidates can see scope of the course below:
Actuarial Science Jobs - Government & Private
Candidates can see list of government and private jobs below:
Actuarial Science Jobs - Government
Candidates can see list of government jobs below:
|
Job Profiles |
Description |
Average Salary |
|---|---|---|
|
Actuarial Analyst |
Collects and analyzes data, develops risk models, and prepares reports for government insurance programs. |
INR 7.1 LPA |
|
Senior Actuarial Analyst |
Supervises a team of actuaries, develops actuarial methodologies, and provides expert advice to senior management. |
INR 7.6 LPA |
Actuarial Science Jobs - Private
Candidates can see list of private jobs below:
|
Job Profiles |
Description |
Average Salary |
|---|---|---|
|
Actuarial Consultants |
Provides risk assessment and pricing guidance to insurance companies, pension plans, and other organizations. |
INR 11.7 LPA |
|
Actuarial Product Managers |
Develops and manages insurance products, pricing strategies, and product marketing initiatives. |
INR 18 LPA |
|
Actuarial Pricing Analysts |
Analyzes data to determine appropriate pricing for insurance policies and other financial products. |
INR 11 LPA |
|
Actuarial Managers |
Leads and manages a team of actuaries, develops and implements actuarial strategies, and reports to senior management. |
INR 12 LPA |
|
Chief Actuaries |
Responsible for the overall actuarial function of the organization, including risk management, product development, and financial reporting. |
INR 25 LPA |
Actuarial Science Key Industries
Candidates can see list below:
|
Key Employment Areas |
|
|---|---|
|
Banking, Finance and Insurance |
Consulting Firms |
|
IT Companies |
CA Firms |
Actuarial Science Top Recruiters
Candidates can see below:
|
Actuarial Science Top Recruiters |
|
|---|---|
|
Life Insurance Corporation of India (LIC) |
HDFC Life |
|
ICICI Prudential Life Insurance |
SBI Life Insurance |
|
Accenture |
EY |
|
PwC |
Deloitte |
|
State Bank of India (SBI) |
ICICI Bank |
|
HDFC Bank |
Axis Bank |
|
Kotak Mahindra Bank |
Axis Bank |
|
ICICI Bank |
SBI Bank |
Actuarial Science Colleges - Placements
Candidates can see list of best colleges with high placement below:
|
Top Actuarial Science Colleges |
Average Package Offered |
|---|---|
| Mumbai University Placements | INR 6 LPA |
| Kalasalingam University Tamil Nadu Placements | INR 5.9 LPA |
| Crescent College Placements | INR 4.5 LPA |
Actuarial Science Salary - Abroad
Candidates can see jobs abroad below:
|
Countries |
Average Salary Offered |
|---|---|
|
Canada |
|
|
Germany |
|
|
Australia |
|
|
United States |
|
|
United Kingdom |
|
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