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List of Courses in Actuarial Science in India | Know Actuarial Science Course Eligibility, Fees, Colleges, Subjects, Scope, and More

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Actuarial Science Courses

Actuarial Science Courses: Many people are not aware of the actuarial science courses. But now with the enhancement in education actuarial science is gaining importance. The course creates amazing career opportunities for the students.

There are several opportunities available to study actuarial science courses in India. You can pursue UG and PG courses after the fulfillment of the eligibility criteria. Actuarial Science degree holders are required in both the private and government sectors at reputable job profiles.

Thus, to know more about Actuarial Science Degree Courses you can read the below-provided article. We have included the latest details and important information for the people who want to build their careers in Actuarial Science.

About Actuarial Science in India

Actuarial Science degree revolves around finance, Probability, statistics, Mathematics, economics, and computer science where these all subjects are interrelated.

The main aim of the degree is to combine its mathematical and statistical skills to depict uncertain financial risks. Using the analysis technique the uncertain risks can be solved with the actuaries.

Actuarial Science Course Eligibility Requirements

The eligibility criteria vary for the degree and diploma courses at both graduate and PG levels. However, you can find the basic eligibility for the Undergraduate Actuarial Science Courses here.

  • You must have cleared class 12th with at least 70% marks.
  • Math, Statistics, and commerce should be the main subjects.
  • English is a mandatory subject in class 12th
  • You need to enroll yourself in the Institute of Actuaries of India through the ACET.

List of Actuarial Science Courses in India

The Actuarial Science Courses are available at both undergraduate and postgraduate levels. Thus, you can find the list of complete Actuarial Science Courses:

Courses level Specializations
Graduate Courses
  • BA in Insurance & Banking
  • BSc in actuarial science
  • BSc in Actuarial & Financial mathematics
Postgraduate Courses
  • PG Diploma in Actuarial science
  • MSc in Actuarial Science
  • Master’s program in Insurance Business
  • MBA in Actuarial Science
  • MSc in Statistics

List of Short Term Actuarial Science Courses Online

There are short-term courses also available through the various online institutes. These are offered by Coursera, Udemy, and EdX. Some of these courses are available for free even.

You can find the latest course details related to online actuarial science courses below.

  • Introduction to Actuarial Science
  • Diploma in Risk Management
  • Business Statistics and Analysis Specialization
  • Actuarial Science For Non-Actuaries
  • Financial Investment & Risk Management

Actuarial Science Course Fees

The fees vary for both private and government institutions. In private institutions, you can easily pursue a degree between Rs 1 lakh to Rs 5 lakhs. In government institutes, you can complete an actuarial science degree for Rs 90,000 to Rs 4,5 lakhs.

Syllabus for Actuarial Science Streams

The syllabus for the degree differs according to their level and also based on the colleges. You can find the core subjects related to actuarial science here below:

General Insurance Investment
Statistics and Finance
and Probability Business
Global Management
Business research Business
Mathematical Economics
Functions Actuarial
Actuarial Statistics
accounting Health and
Business Care
research Actuarial Practice
Foreign Modeling
economics Practice
Calculus Actuarial
Actuarial Mathematics
economics Communications
Liability Practice
insurance Business
Life Finance
Insurance Pension and
Financial other benefits
Engineering and Loss Reserving Risk
Enterprise Modeling and Survival Analysis
Risk Management Specialist Principles

Must Check:

Best Colleges For Joining Actuarial Science Courses in India

The top colleges which offer actuarial science degrees in India are listed below. Candidates can get admission to these colleges as per their admission process.

  • Amity University
  • Kavayitri Bahinabai Chaudhari North Maharashtra University
  • Bishop Heber College
  • Lovely Professional University
  • Amity School of Insurance Banking and Actuarial Science
  • NIMS University
  • Yashwantrao Chavan Maharashtra Open University
  • Jain University
  • Chandigarh University
  • University of Petroleum and Energy Studies
  • Delhi University

Career Scope After Actuarial Science Degree

Actuarial science offers and even ensures high-profile jobs with a reputed salary structure after the completion of the degree. As in the era of unforeseen events the companies wanted to depict its risks and they want people who can work on this matter, thus people who did actuarial science degrees demand will increase rapidly in near future. For economic predictions, people with proper skill sets are required.

Even if you have completed a bachelor’s degree in the same field and you are not interested in learning, then the door to gaining more knowledge in this field is always open for you. You can pursue a master’s degree or pursue some diploma courses.

Required Skills for an Actuarial Sciences Course

With the pepper skills and knowledge, you can even become CEO of the company. Also, with the amazing skills, you can be placed with a high profile and earn a high salary structure. You need to pursue these defined skills in the beginning but with the experience, you will get to learn more.

  • Problem-solving skills
  • Interest in banking and finance
  • Essential business sense
  • Excellent interpersonal skills
  • Computer knowledge
  • Management skills
  • Strong Mathematical base
  • Keen analytical skills
  • Knowledge of statistics

Job Opportunities and Top Recruiters After Actuarial Science Courses

All thanks to the upcoming corporate demand, the number of people who studied actuarial science has been increasing. Thus, the companies are eagerly waiting for you people. You can work in both government and private sectors as the demand and the salaries are high in both.

  • Stock exchanges
  • Investment consultancies
  • Banking sector
  • Financial services
  • Risk management
  • Pension funds

Job Profiles

The job profiles on which you can be placed are

  • Financial Analysts
  • Actuary
  • Mathematicians
  • Insurance Underwriters
  • Budget Analysts
  • Economists
  • Accountants and Auditors
  • Postsecondary Teachers
  • Cost Estimators

Top Companies

The top lecturers who are hiring people with actuarial science degrees are:

  • Prudential
  • E&Y
  • Fortis Insurance
  • Deloitte
  • Max Life Insurance
  • HDFC Bank
  • MetLife
  • Flexi Careers India Private Limited
  • Max Bupa Health Insurance
  • Swiss Re
  • PwC Actuarial Services India

Salary for Actuary | Actuarial Science Course Holders Salary in India

The annual salary which you can earn after the completion of a bachelor’s degree is between Rs 3 lakhs INR and 14 lakhs per annum. The salary structure depends on the skills and companies. You can find the approximate profile-wise salary structure here in the below table:

Postsecondary Teachers Rs. 10 – Rs. 15 lakhs p.a.
Budget Analysts Rs. 3.5 – Rs. 6 lakhs p.a.
Insurance Underwriters Rs. 4 – Rs. 7 lakhs p.a.
Mathematicians Rs. 7 – Rs. 9 lakhs p.a.
Economists Rs. 7 – Rs. 12 lakhs p.a.
Cost Estimators Rs. 5 – Rs. 8 lakhs p.a.
Financial Analysts Rs. 3.5 – Rs. 6 lakhs p.a.
Actuary Rs. 7 – Rs. 10 lakhs p.a.
Accountants and Auditors Rs. 2.5 – Rs. 5 lakhs p.a.

FAQs related to Actuarial Science Course Duration

1. How do Actuarial Science degree holders help companies?

Ans. The degree helps the companies in such a manner that the degree holders guide the companies and firms about the uncertain risk investment which firms might suffer shortly.

2. Is an Actuarial Science Course a good career?

In India the scope of actuarial science is immense. You can get a high-profile job after the completion of your degree. Due to the fewer employees related to actuarial science, the companies are ready to pay high to the available ones. The field is one of the highest-paying sectors in India.

3. What is the salary of an Actuary?

Actuaries generally earn too high. The companies are ready to pay them according to their skills and knowledge. Thus, the average salary per annum they earn is around Rs 10 lakhs.

4. In how many years can I become an actuary?

It takes around 5 to 6 years for the completion of actuary degree courses. This all involves the completion of all ACET exams and actuarial degrees.

Final Words

To become an actuary the time periods are quite long but it will surely provide you with fruitful results. As we have already included the detailed information and NewsOzzy.com is happy to guide you more about the actuarial science courses. If you have any doubts or suggestions you can kindly provide them in the comments section below without any hesitation. You can check our website for more course details.

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