What is Actuarial Science?: Fees 2025, Subjects, Top Colleges, Admissions

Updated on Aug 27, 2025 11:31 IST
Vidhi Jain

Vidhi JainContent Writer

Actuarial Science is all about using mathematical and statistical tools to assess and manage potential risks, primarily in the insurance and finance sectors. Actuarial Science courses provide the students with a detailed understanding of how to evaluate risks in different fields and utilize that knowledge to assist firms in making investment and risk management decisions.

Links relevant to the Actuarial Science Course:

Financial Institutions: Types, Roles, and Advantages

Actuarial Science Colleges in India: Know Eligibility, Admission Process & more

Actuarial Science Course Details: Highlights

Actuarial Science is a specialized subject that usesmathematical and statistical tools to assess and manage financial risks in a variety of businesses, particularly Insurance and Finance. Actuaries utilize their knowledge to assist firms in making sound decisions about investments, pricing, and risk management.

Students interested in Actuarial Science courses should take a look at the table below highlighting some key points of Actuarial Science programs:

Parameters Course Details
Actuarial Science Course Levels UG, PG, Certification, Diploma, Doctorate
Actuarial Science Course Duration

UG: 3-4 Years 

PG: 2 years

Diploma/Certification: 6 Months - 1 Year

Doctorate: 3 years - 5 years

Actuarial Science Admission Process Merit/Entrance-Based
Actuarial Science Eligibility Criteria

UG: Class 12 with Mathematics subject from a recognized board

PG: A bachelor's degree in BSc or BCom in any relevant discipline such as Mathematics, Statistics, Finance, etc.

Diploma/Certification: Class 10 or 12 with Mathematics subject from a recognized board

Doctorate: A master's degree in MSc, MBA, MCom, or other relevant discipline

Actuarial Science Entrance Exams MAT, CAT, XAT, CMAT, ATMA, etc.
Actuarial Science Top Colleges Amity University (Noida), Christ University, University of Mumbai, IIRM Hyderabad, Kerala University, etc.
Actuarial Science Course Fees INR 20,000 to INR 5 Lakh
Actuarial Science Job Profiles Actuarial Analyst, Actuarial Manager, Actuarial Pricing Executive, Actuarial Consultant, Actuarial Specialist, Actuarial Associate, and more.
Actuarial Science Top Recruiters Max Life Insurance, HDFC Ergo, LIC, SBI Life, Bajaj Allianz, etc.
Actuarial Science Average Salary INR 6 LPA - 8 LPA

Note: The information is taken from various external sources and may vary.

Actuarial Science Course Relevant Information:

Top 8 Courses After B.com: Best Career Options after B.com

An Introduction to Private Sector Banks

 

Q:   What is the Actuarial Science course duration?
A:

Actuarial Science are offered at various levels from UG, PG, Doctorate to Diplomas and Certifications. So, the duration also vary depending on the course type. While the UG courses are 3-4 years long, PG courses are 2-year long, Doctorate courses lasts for 3-5 years, and Diplomas and Certifications can go from 6-18 months.

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Q:   Is Actuarial Science course tougher than CA?
A:

Actuarial Science courses are considered one of the toughest courses in India and exams for actuarial positions can be more difficult than those for chartered accountants (CAs) because candidates must have a strong foundation in Statistics, Analysis, and Mathematics.

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Table of content
  • Actuarial Science Eligibility Criteria & Admission Process 2025
  • Popular Actuarial Science Entrance Exams 2025
  • Types of Actuarial Science Courses
  • Actuarial Science Course Syllabus
  • Best Actuarial Science Colleges in India
  • Popular Private Actuarial Science Colleges in India
  • Actuarial Science Career Scope: Job Profiles, Salary, and Top Recruiters
  • Actuarial Science Course FAQs
  • Popular Actuarial Science UG Courses
  • Popular Actuarial Science PG Courses
View More

Actuarial Science Eligibility Criteria & Admission Process 2025

Candidates must fulfil the prescribed eligibility criteria for Actuarial Science course admission which are offered across top colleges and at various levels such as UG, PG, and diploma. Candidates should be aware that eligibility requirements differ from institute to institute. Individuals must visit the official website of the college/university to which they wish to apply. The admission is based on both merit and entrance exam scores. The eligibility criteria are given below:

Course Levels Eligibility Criteria
Undergraduate
  • Class 12 with Mathematics subject,
  • With a minimum of 65% aggregate score from a recognized board.
Postgraduate
  • A bachelor's degree in BSc or BCom in any relevant discipline such as Mathematics, Statistics, Finance, etc.
  • With a minimum of 65% aggregate score from a recognized university.
Diploma/Certification Class 10 or 12 from a recognized board with Mathematics subject and a minimum score of 50%.
Doctorate A master's degree in MSc, MBA, MCom, or other relevant discipline with at least 55 to 60 percent marks.

Note: The information is taken from various external sources and may vary.

 

Actuarial Science Admission Process 2025

Actuarial Science course admission processes are based on merit and entrance exams depending on the course level and type. They can also vary depending on the college or university. However, the steps given below may help candidates get an overview of the Actuarial Science admission process in India:

Steps Parameters Details
Step 1 Check Eligibility Check the eligibility criteria for the desired college and make sure one meets the same.
Step 2 Application Forms Fill out the exam/college application forms before the last date.
Step 3 Entrance Exams

Prepare for relevant entrance exams. Several private colleges also give admission to students based on Class 12 board exam scores.

Step 4 College Counselling Attend college counseling sessions meant for seat allotment based on entrance exam results.
Step 5 Final Admission Get hold of the final seat by paying the course fees and getting documents verified.

Note: Be sure to crosscheck the admission process as it may vary for each college.

Suggested Links for Actuarial Science:

Scholarships for Commerce Students

How to Become a Certified Financial Risk Manager

 

Q:   What are the eligibility criteria for Actuarial Science?
A:

Actuarial Science courses are offered at various levels, hence, the eligibility criteria also differ depending on the course level. For UG courses, a candidate must pass Class 12 with Mathematics subject with a minimum of 50% aggregate score. For PG course, the candidate must obtain a bachelor's degree in a relevant discipline, and for Doctorate,  the candidate must obtain a master's degree in a relevant discipline.

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Q:   Can a non-math Commerce student pursue Actuarial Science?
A:

Actuarial Science courses are primarily based on Mathematical techniques and coming from a non-math background will not help you meet the requirements for becoming an Actuary. That's why, Mathematics is a mandatory subject for Actuarial Science courses admission.

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Q:   Is there an entrance exam required for Actuarial Science course admission?
A:

Hi, Actuarial Science courses are offered at many levels and in different disciplines. Most programs' admissions are based on the merit system, however, some MBA programs in Actuarial Science specialisation require entrance exam scores such as CAT, MAT, XAT, CMAT, ATMA, etc.

If you want to opt for a certification, BSc, BCom, etc., course, you'll probably get admission on the merit system.

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Popular Actuarial Science Entrance Exams 2025

Candidates interested in Actuarial Science courses are advised to check the official websites of their desired colleges and appear in the entrance exams they accept. In the table given below, students can find some popular Actuarial Science entrance exams in India:

Entrance Exams

Exam Dates

Exam Schedule

NMAT 2025

5 Nov'25 - 19 Dec'25

NMAT Exam Date 2025

SNAP 2025

December'25 (Tentative)

SNAP Exam Date 2025

XAT 2026

04 Jan'26

XAT Exam Date 2026

MAT 2025

21 Sep'25 & 28 Sep'25

MAT Exam Date 2025

CAT 2025

30 Nov'25

CAT Exam Date 2025

Note- The information is sourced from the official/counselling body of the institute/exam.

Useful Links for Actuarial Science Entrance Exams:

CAT Preparation 2025

All About CAT, MAT, XAT, CMAT: Full Form, Eligibility, Dates, Exam Fees, Syllabus

Institute of Actuaries of India: Membership

Some organisations in India only hire members of the Institute of Actuaries of India. Membership is offered via two different routes as mentioned below:

Route 1: Actuarial Common Entrance Test

Route 2: Non-ACET

Membership Route: Actuarial Common Entrance Test (ACET)

Candidates qualifying for the ACET get student membership of the Institute of Actuaries of India. Different memberships of IAI are as follows:

  • Student members
  • Associate members
  • Fellow members
  • Affiliate members

Membership Route: Non-ACET

Some institutes have enhanced the conditions for IAI student membership. Candidates with the following qualifications are exempted from taking ACET and are entitled to student membership of IAI:

  • Fully qualified members of the ICAI, ICMAI and ICSI.
  • Candidates having a minimum of 60 per cent in MBA in Finance degree.
  • BSc or MSc in Actuarial Science from recognized colleges.
  • Bachelor of Engineering graduates with a minimum of 60%.
  • IIT or IIM graduates.
  • Fellow members of the Insurance Institute of India.
  • Passed two exams from other actuarial bodies.
  • Candidates who have qualified 1st year of B.Sc. or M.Sc. degree majoring in Actuarial Science.
  • Graduation and Post-Graduation diploma holders majoring in Actuarial Science.
  • Graduation and Post-Graduation diploma holders majoring in Actuarial Statistics.
  • Candidates who have completed B.Com in Actuarial Management.
  • Candidates who have completed a Bachelor of Statistics (Honours), Master of Mathematics, a Bachelor of Mathematics (Honours), a Master of Statistics, a Master of Science in Quantitative Economics, or a Master of Science in Quality Management Science.

Note: This information is taken from external sources and may vary.

 

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Q:   How much time is required to prepare for Actuarial Science entrance exams?
A:

The time required to prepare for the entrance exams for admission to Actuarial Science courses varies on the basis of the course level and specific exam you're planning to sit for. Generally, it is better to start your preparation at least 6 to 8 months before the final exam is tentatively scheduled to take place so that you have a good amount of time to cover the entrance syllabus, have a look at previous year question papers, take up mock tests, and plan a thorough revision in the last month.

Q:   Can you give me some tips to prepare for the Actuarial Science entrance exams?
A:

You can find some basic tips for clearing the Actuarial Science admission tests smoothly given here –

  • Have a look at the entire exam syllabus in detail and note down all the important topics to be covered in a separate notepad/notebook.
  • Make a weekly timetable where you assign at least 2-3 topics to be covered each day to keep pace and avoid any possibility of burnout midway.
  • Have a look at previous year question papers, take up mock tests, and then plan for your further prep journey accordingly.
  • Take help from friends, seniors or professors to understand topics that may appear challenging or difficult to understand.
  • Plan a revision schedule in the last month to brush up on the important, high weightage topics to increase your chances of getting shortlisted for admission at top colleges for BSc/BCom/MSc/MBA in Actuarial Science.
Q:   Can I get admission to BSc Actuarial Science without giving entrance exams?
A:

You can surely get admission to the BSc Actuarial Science course without giving any entrance exam. There are a decent number of colleges that give admission to the course on the basis of Class 12 merit and may take extra rounds like the GD/PI to assess your abilities.

A few colleges include Mumbai University, Bishop Heber College, North Maharashtra University, and Maharishi University of Information Technology (Noida). It is better to always go to the college websites to confirm their admission requirements that are revised every year.

Types of Actuarial Science Courses

Actuarial Science courses in India are available at various course levels and types. Actuarial Science courses are available in BSc, BCom, MSc, MBAetc., disciplines. Admission to these programs is based on both merit and the entrance exam system. The duration of UG-level courses is generally 3 to 4 years, while PG courses are 2 years long. Students can check the table given below for a list of top Actuarial Science courses after 12th, along with the best colleges and Actuarial Science course fees:

Actuarial Science Courses

Top Colleges

 Course Fees

BSc in Actuarial Science

Amity University, Noida

INR 3.9 lakh

 

Bishop Heber College, Tiruchirappalli

INR 42,000

 

YCMOU Nashik

INR 3.36 lakh

 

North Maharashtra University

INR 1.33 lakh

 

Maharishi University of Information Technology, Noida

INR 1.8 lakh – 2.4 lakh

B.Com. in Insurance and Actuarial Studies 

Administrative Management College, Bangalore

INR 1.2 lakh

MSc in Actuarial Science

Kerala University

INR 3,360

 

Bishop Heber College, Tiruchirappalli

INR 36,000

 

University of Madras, Chennai

INR 60,000

 

Christ University, Bangalore

INR 4.84 lakh

 

B.S Abdur Rahman Crescent Institute of Science and Technology, Chennai

INR 1 lakh

MBA in Insurance and Risk Management (Actuarial Science)

Kalasalingam Academy of Research and Education

INR 1.4 lakh

Post Graduate Diploma in Actuarial Science (PGDAS)

Bishop Heber College, Tiruchirappalli

INR 23,100

 

IIRM Hyderabad

NA

 

Mumbai University

NA

Note: This information is sourced from the official website and may vary.

 

Q:   Is Actuarial Science a good course?
A:

Actuarial science is a highly respected field that deals with assessing and managing risk. For individuals with an interest in business, statistics, or mathematics, this course is thought to be beneficial. Professionals in actuarial Science are in great demand, and there is expectation that the field will continue to expand in the years to come. Although they can be found in other sectors like consulting and government, actuaries are primarily employed in the insurance and financial services industries. Actuaries are well-known for having large earning potential and for being well-positioned in their organizations as leaders. 

Q:   Which skills will I gain from Actuarial Science courses?
A:

As an Actuarial Science student, the programs will teach you how to analyze data, rectify errors, and make strategic decisions. You'll gain analytical, communicative, technical, problem-solving, and financial skills
These skills are essential to perform well in the industry where Actuaries have to work in a dynamic environment, on different projects at the same time, and have deadlines

Actuarial Science Course Syllabus

Actuarial Science syllabus and subjects can vary depending on the college’s curriculum and course. However, the core subjects are still the same. Thus, students can gain a basic understanding of subjects offered in Actuarial Science courses through the tables given below.

BSc in Actuarial Science Syllabus

The BSc in Actuarial Science course is a three-year program spread across 6 semesters where students learn about insurance and financial risks and economics and mathematics for effective decision-making in investment and financial planning. The table given below lists a few general subjects taught in BSc in Actuarial Science classes:

BSc in Actuarial Science Subjects- Semester 1

Calculus - I

Linear Algebra - I

Descriptive Statistics - I

Principles of Microeconomics

BSc in Actuarial Science Subjects- Semester 2

Calculus - II

Probability Distributions - I

Descriptive Statistics - II

Principles and Practices in Insurance

BSc in Actuarial Science Subjects- Semester 3 

Calculus - III

Financial Mathematics - I

Probability Theory

Financial Accounting

BSc in Actuarial Science Subjects- Semester 4

Introduction to Mathematical Statistics

Sampling Theory of Surveys

Financial Mathematics

Programming in C++ and Numerical Methods

BSc in Actuarial Science Subjects- Semester 5

Survival Models

Finance and Financial Reporting

Mathematical Statistics

Mathematics of Demography

BSc in Actuarial Science Subjects- Semester 6

Stochastic Modeling

Credibility Theory & Loss Distribution

Financial Economics

Project Work

Note: This information is taken from external sources and may vary.

BCom Actuarial Science Syllabus

BCom in Actuarial Science is a 3-year program at the UG level with rigorous coursework covering core subjects, electives, and industrial projects. Students can check the table given below for the basic subjects taught in BCom Actuarial Science classes:

BCom Actuarial Science Syllabus Year I

English

Mathematics for Business

Financial Accounting

Principles of Insurance

BCom Actuarial Science Syllabus Year II

Business Economics

Principles of Life Insurance

Corporate Accounting

Statistics for Business

Principles of Marketing

-

BCom Actuarial Science Syllabus Year III

Asset Liability Management

Cost & Management Accounting

Executive Communication

Life Office Management

Principles of Reinsurance

-

Note: The information is sourced from multiple sources on the web. Hence, is subject to vary.

MSc in Actuarial Science Syllabus

The MSc in Actuarial Science course is a 2-year program at the postgraduate level. The syllabus for the course would differ from one college to another, but some core subjects remain the same. The table given below lists a few general subjects for the MSc in Actuarial Science course syllabus:

MSc in Actuarial Science Subjects- Semester 1

Financial Mathematics

Economics

Finance and Financial Reporting

Introduction to Statistical Software

MSc in Actuarial Science Subjects- Semester 2

Regression Theory

Stochastic Processes - I

Statistical Inference

Life Contingencies

MSc in Actuarial Science Subjects- Semester 3 

Finance and Investment

Time Series

General Insurance

Stochastic Processes - II

MSc in Actuarial Science Subjects- Semester 4

Stochastic Modeling Finance

Survival Analysis

Pension & Other Employee Benefits

Health & Care Insurance

Note: This information is taken from external sources and may vary.

MBA in Actuarial Science Syllabus

MBA in Actuarial Science is a 2-year PG-level program that blends the principles of business management with the technical expertise of actuarial and financial risk management with the help of mathematical and statistical tools. The syllabus for the course would vary from college to college but some general core subjects taught in the classroom are given here:

MBA in Actuarial Science Subjects- Semester 1

Accounting for Management

Economic Analysis for Business

Actuarial Probability and Statistics

Actuarial Financial Mathematics

Financial Engineering and Loss Reserving

Principles of Banking & Insurance

MBA in Actuarial Science Subjects- Semester 2

Applied Operation Research

Financial Management

Actuarial Financial Reporting

Survival Model Analysis

Risk Model Analysis

Data Analysis and Business Modeling Lab

MBA in Actuarial Science Subjects- Semester 3 

Actuarial Risk Management Practice

Modelling and Communication Practice

Elective - I

Elective - II

MBA in Actuarial Science Subjects- Semester 4

Financial Institution and Services

Security Analysis and Portfolio Management

Internship

Final Project Work

Note: This information is taken from external sources and may vary.

Actuary Course Relevant Information:

Financial Data Entry Courses to Minimize Errors for Accounting Clerks

 

Q:   Which is the main subject in Actuarial Science?
A:

Actuarial Science courses revolve around 5 major subjects, i.e., English, Mathematics, Statistics, Logic and Data Interpretation. The syllabus is generally divided into 4 stages: Core Technical, Core Application, Specialist Technical, and Specialist Application.

Q:   What are the important books for Actuarial Science students?
A:

Here are some books recommended for Actuarial Science students:

  • Complex Variables and Applications - 4th Edition by RV Churchill & JW Brown.
  • Topics in Algebra Anton by H & C. Rorres.
  • Linear Algebra by Shama JN & Vashistha.
  • Methods of Real Analysis by Goldberg R.
  • A First Course in Abstract Algebra by John B Fraleigh.
Q:   Which reference books should be used for Actuarial Science entrance exam?
A:
Hi, Listing down few important books which can be referred for Actuarial Science exams. I have collected the information from online websites which suggests this book for the exams. 1. TOMATO (Test Of Mathematics at Ten plus Two level published by ISI) 2. How to prepare for Quantitative Aptitude for the CAT Editor: Arun Sharma 3. How to Prepare for Verbal Ability and Reading Comprehension for CAT by Arun Sharma and Meenakshi Upadhyay, Mc Graw Hill 4. Quantitative Aptitude for Competitive Examinations Editor: Abhijit Guha 5. Quantitative Aptitude for MBA Entrance Examinations Editor: R. S. Aggarwal All the best.

Best Actuarial Science Colleges in India

More than 20 colleges in India offer Actuarial Science courses at various levels like UG, PG and Diploma. The colleges are well known for their coursework, teaching expertise, practical exposure, industry reputation and placement support. The section below lists a few popular colleges for Actuarial Science courses along with the Actuarial Science course fees.

Best Government Actuarial Science Colleges

There are around 8 government colleges that offer Actuarial Science courses at an affordable cost and are known for their promising course curriculum, learning opportunities, college ranking, and industry reputation. Students can check the table below for a few top government college options for Actuarial Science:

Best Government Colleges

Course Offered

Tuition Fee

Kerala University

M.Sc. in Actuarial Science

INR 3,360

Bangalore University

B.Com. in Insurance and Actuarial Studies

Bachelor of Insurance and Actuarial Studies

INR 33,550 – INR 1.2 lakh

University of Madras

M.Sc. in Actuarial Science (Self Supportive)

INR 60,000

North Maharashtra University

B.Sc. in Actuarial Science

INR 1.33 lakh

YCMOU Nashik

B.Sc. in Actuarial Science

INR 3.36 lakh

IIRM Hyderabad

Post Graduate Diploma in Actuarial Science (PGDAS)

NA

Mumbai University

B.Sc. in Actuarial Science and Quantitative Finance

Post Graduate Diploma in Actuarial Science

NA

Note: The information is sourced from the official website/counselling body of the institute/exam.

Best Private Actuarial Science Colleges

There are about 10+ private Actuarial Science colleges in India in full-time mode. The tables given below lists a few popular student choices.

Best Private Actuarial Science Colleges: UG Courses

Some of the best private Actuarial Science colleges are given in the table below, along with the course fees to help students make an informed choice, taking into account their interests, college reputation, and ROI:

Best Private Colleges

Course Offered

Tuition Fee

Administrative Management College, Bangalore

B.Com. in Insurance and Actuarial Studies

INR 1.2 lakh

Maharishi University of Information Technology, Noida

B.Sc. (Hons.) in Statistics and Actuarial Science

B.Sc. in Statistics and Actuarial Science

INR 1.8 lakh – INR 2.4 lakh

Sri Balaji University, Pune

B.Sc. in Actuarial Science

INR 2.39 lakh

Amrapali University, Haldwani

Bachelor of Actuarial Science

INR 3.3 lakh

Amity University, Noida

B.Sc. in Actuarial Science

INR 3.9 lakh

Note: The information is sourced from the official website/counselling body of the institute/exam.

Best Private Actuarial Science Colleges: PG Courses

There are some top colleges for PG courses in Actuarial Science, popular for their campus life, learning environment, faculty, industrial exposure and placements. Students can take a look at the table given below for more details:

Best Private Colleges

Course Offered

Tuition Fee

RNB Global University

M.Sc. in Mathematics with Specialization in Actuarial Science

INR 90,000

Crescent College Chennai

MSc in Actuarial Science

INR 1 lakh

Kalasalingam Academy of Research and Education

MBA in Insurance and Risk Management (Actuarial Science)

INR 1.4 lakh

Maharishi University of Information Technology, Noida

M.Sc. in Actuarial Science

INR 1.4 lakh

Christ University, Bangalore

Master of Science Actuarial Science

INR 4.84 lakh

Note: The information is sourced from the official website/counselling body of the institute/exam.

 

6.75 L
6.8 LPA
75 K - 4.28 L
3.8
Ranked #3 Private University in India. Placement with Fortune 500 Companies
3 L - 9 L
5.15 - 7.78 LPA
1 Course
16 L
8 LPA
6 Courses
2 L - 10 L
7.25 LPA
BEST EDUCATION Brand by EconomicsTimes. LPUNEST-India's Largest Entrance Scholarship Test
1.5 L
5.0
Q:   Which are the best colleges in India to pursue Actuarial Science?
A:

According to NIRF Ranking 2023, given below are the top Actuarial Science Colleges in India

College Name

NIRF 2021

NIRF 2022

NIRF 2023

Kerala University

27

40

24

University Noida

25

22

35

University of Madras

28

39

50

University of Mumbai

71

45

56

Christ University

NA

71

67

Q:   What is the fee structure of Actuary course? Which is the best college for the same?
A:

Given below are some of the best Actuarial Science Colleges with different fee structure:

Fee Range

College Name

< INR 1 lakh

University of Madras, Kerala University, Bishop Heber College, etc.

INR 1 - 2 lakh

Crescent College, North Maharashtra University, etc.

INR 2 - 3 lakh

Maharishi University, etc.

INR 3 – 5 lakh

Christ University, Amity University, Chanakya University, etc.

Please refer to the table below for the top Actuarial Science Colleges in India according to their NIRF ranking 2023:

College Name

NIRF 2021

NIRF 2022

NIRF 2023

Kerala University

27

40

24

Amity University Noida

25

22

35

University of Madras

28

39

50

University of Mumbai

71

45

56

Christ University

NA

71

67

READ MORE: Amity University Noida Applications Open NOW

Popular Private Actuarial Science Colleges in India

1.2 L - 1.99 L
1 Course
1.17 L
2 L - 10 L
4.1
2.01 L - 3.91 L
4.0
1 Course
1.17 L
3.0
1.2 L - 2.1 L

Actuarial Science Career Scope: Job Profiles, Salary, and Top Recruiters

Actuarial Science careers are not limited to Insurance companies only. Though, Actuaries have several career opportunities in Insurance companies. Besides the insurance sector, Actuarial Science is required to become a risk consultant for companies (irrespective of the sector), banks, financial consulting firms, government sector, investment advisories, etc. The average salary after completing an Actuarial Science course is 4.23 LPA. However, candidates can get a much higher salary depending upon the skills acquired while studying for the Actuarial Science degree and the experience in the field.

A career in Actuarial Science promises job security at all times including in times of an economic crisis. Job roles after completing the Actuarial Science course are as follows:

Job Profiles

Job Description 

Average Salary

Actuary Actuaries are specialists who study data to assess risk and forecast financial outcomes.  INR 9 LPA
Life Insurance Actuary Life insurance actuaries are professionals who assess and manage the risks involved with life insurance policies.  INR 7.5 LPA
Pension Actuary Pension actuaries, often known as retirement plan actuaries, specialize in retirement programs and benefits.  INR 6 LPA
Investment Actuary Investment actuaries operate in the financial services industry, assisting businesses in making investment decisions by examining the financial risks associated with various investment strategies.  INR 8.5 LPA
Risk Management Actuary Actuaries in risk management operate in a variety of businesses to discover, assess, and minimize financial risks.  INR 9 LPA

Note- The above salary has been taken from external sources, and hence may vary.

Top Companies Recruiting Actuarial Science Graduates

 The expertise of an Actuarial Science professional is required for the unprecedented financial risks. The great recession, demonetization, COVID-19, and other similar crises have shown the importance of risk management and the importance of mitigation skills held by an Actuarial Science expert. Some of the top companies recruiting Actuarial Science graduates include:

Top Recruiters
EY CRISIL
HDFC Ergo

Principal Financial Group

Accenture KPMG
Max Life Insurance PwC
Milliman Deloitte

Note: The information is taken from various external sources and may vary.

Relevant Links for Actuarial Science Course:

Actuarial Science Graduates Online Courses & Certifications

 

Q:   What type of Actuary get a higher pay?
A:

Here are some Actuary jobs with high earning potential:

Actuary JobsAverage Salary
 Investment bankerINR 16.6 LPA
Operations Research AnalystINR 6.8 LPA
Statistical AnalystINR 9.3 LPA
Risk AnalystINR 7.7 LPA
Data scientistINR 14.5 LPA
Q:   Is Actuary a high paying job?
A:

The average salary of a Actuarial Analyst is INR 7.6 LPA in India. The higher salary package or designation also depends on one's experience, skillset, and job location. 

Actuarial Science Course FAQs

Candidates can refer to this section for Actuarial Science Course FAQs. 

 

Q:   What to do after BSc Actuarial Science?
A:

After BSc Actuarial Science, you can either opt for master's courses like MSc Actuarial Science or MBA in Actuarial Science or you can opt for a career path in the field of BFSI. You can become an Insurance Agent, Financial Advisor, Budget Analyst, Risk Manager, and more. 

Q:   What is the future of Actuarial Science in India?
A:

The importance of actuarial Science has grown in India over the years as a result of the need for risk management in a variety of industries, including investments, insurance, and pensions, as well as the complexity of financial products and rising regulatory requirements. These factors contribute to increasing demand for Actuaries in India and the expansion of Actuarial roles in the country.

Q:   What is the difference between Actuarial Science and Chartered Accountancy?
A:

Chartered Accountancy and Actuarial Science are two different working fields of study that are related to finance. A professional in Actuarial Science deals with the risk factors that can occur in future and the mitigation techniques. Whereas, a Chartered Accountant is the one who deals with the financial impacts of past events.

Knowing the major differences between Actuarial Science and Chartered Accountancy is important as the finance aspirants might go for the wrong field thinking both the fields are similar.

Popular Actuarial Science UG Courses

Following are the most popular Actuarial Science UG Courses . You can explore the top Colleges offering these UG Courses by clicking the links below.

UG Courses

Popular Actuarial Science PG Courses

Following are the most popular Actuarial Science PG Courses . You can explore the top Colleges offering these PG Courses by clicking the links below.

PG Courses

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Write here...

Answered 2 weeks ago

Check below institutes -

  1. Mumbai University
  2. SIES College of Arts, Science and Commerce, Mumbai
  3. Yashwantrao Chavan Maharashtra Open University, Nashik
  4. Amity University, Noida
  5. Bishop Heber College, Trichy

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NITIN DESHMUKH

Scholar-Level 17

Answered a month ago

You can surely get admission to the BSc Actuarial Science course without giving any entrance exam. There are a decent number of colleges that give admission to the course on the basis of Class 12 merit and may take extra rounds like the GD/PI to assess your abilities.

A few colleges include Mumbai Un

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Vidhi Jain

Contributor-Level 10

Answered a month ago

You can find some basic tips for clearing the Actuarial Science admission tests smoothly given here –

  • Have a look at the entire exam syllabus in detail and note down all the important topics to be covered in a separate notepad/notebook.
  • Make a weekly timetable where you assign at least 2-3 topics to b

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Vidhi Jain

Contributor-Level 10

Answered a month ago

The time required to prepare for the entrance exams for admission to Actuarial Science courses varies on the basis of the course level and specific exam you're planning to sit for. Generally, it is better to start your preparation at least 6 to 8 months before the final exam is tentatively scheduled

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Vidhi Jain

Contributor-Level 10