Christ University
- Fees: ₹ 427000
Actuarial Science Course Details - Fees, Subjects, Syllabus, Duration, Eligibility, Career Scope
Degrees offered: BS, M.Sc., B.Sc., B.Sc.(Hons), B.A.
What is Actuarial Science
Actuarial Science is a specialised field that combines mathematics, statistics, economics, and finance to evaluate financial risks. It focuses on predicting future events such as accidents, illnesses, or natural disasters and helps organisations make informed financial decisions to reduce losses and plan effectively for uncertain situations.
The course provides students with a deep understanding of probability, data analysis, business management, and financial modelling. It trains them to interpret statistical data and apply mathematical concepts to real-world problems in insurance, banking, and investment industries, making them essential professionals in financial planning and risk management.
Actuarial Science offers excellent career opportunities both in India and abroad. Graduates can work as actuaries, actuarial analysts, actuarial consultants, risk managers, and data scientists in top insurance firms, government sectors, and multinational companies. With experience and certification, professionals in this field enjoy high demand and rewarding career growth.
Actuarial Science Course: Highlights
Actuarial Science is a highly analytical and rewarding field that combines mathematics, statistics, and finance to assess and manage financial risks. The course prepares students for roles in insurance, pensions, banking, and investments by developing strong quantitative and problem-solving skills. Below are key highlights of the Actuarial Science course.
Particulars | Values |
|---|---|
Branch Name | Actuarial Science |
Actuarial Science Degrees | BSc, MSc, PGD, PhD, M.Phil |
Actuarial Science Course Duration | UG: 3 years PG: 2 years |
Actuarial Science Eligibility Criteria | UG: 10+2 with PCM PG: Bachelor’s Degree in a related field |
Actuarial Science Admission Process | Entrance Examination/ Direct Admission |
Actuarial Science Top Entrance Exams | CUET UG, ACET, and CUET PG |
Actuarial Science Career Options | Actuary, Actuarial Analysts, Actuarial Consultants, Risk Manager or Data Scientists |
Actuarial Science Average Salary | Rs. 11.3 LPA ( Actuary) |
Actuarial Science Top Recruiters | ICICI, Prudential, ING, E&Y, PwC, Allstate, Wills Towers Watson, The Hartford |
Specialisation or Similar Ones
Actuarial Science is a specialised field of study that combines mathematics, statistics, and financial theory to assess and manage risk. Students pursuing this course can explore various branches that build advanced analytical, financial, and technical skills relevant to diverse industries. Below are some of the key specialisations and similar fields in the Actuarial Science course:
Financial Mathematics | Quantitative Modelling |
Data Analytics | |
Insurance and Pension Studies | Investment and Finance |
Actuarial Modelling | Financial Engineering |
Top Private Actuarial Science Colleges in India
Several private universities in India offer Actuarial Science courses at undergraduate and postgraduate levels. These institutions provide quality education, experienced faculty, and practical training through internships and research projects. Graduates gain strong analytical and financial skills for global opportunities. Below are some of the top colleges with their approximate fees:
| Top Colleges | Fees |
|---|---|
Rs. 65,650 | |
Rs. 1.17 Lakhs | |
Rs. 20 Lakhs | |
Rs. 1.13 Lakhs | |
St Joseph's Academy of Higher Education and Research, Idukki | Rs. 90,000 |
Rs. 91,930 | |
Rs. 3.90 Lakhs | |
Rs. 1.20 Lakhs | |
Rs. 4.52 Lakhs | |
Vignan's Foundation for Science Technology and Research, Guntur | Rs. 2.50 Lakhs |
Note: The fee structure provided above can be for any particular Actuarial Science course (Diploma/ Degree/PGD).
Top Government Actuarial Science Colleges in India
There are only a few government colleges in India that offer Actuarial Science courses. These institutes provide quality education, practical training, and research opportunities in mathematics, statistics, and finance. Graduates gain strong analytical and problem-solving skills. Below are some of the top government colleges with their fees:
| Top Colleges | Fees |
|---|---|
Rs. 80,290 | |
Rs. 1.13 Lakhs | |
MG University (MGU) | Rs. 65,650 |
Rs. 91,930 | |
Mumbai University | - |
- | |
- | |
- | |
- |
Eligibility Criteria (UG & PG) of Actuarial Science
The Actuarial Science course is offered in both undergraduate and postgraduate degree programmes. Candidates applying for admission should have an interest in finance and mathematics. The eligibility criteria depend on the level of education and the type of institution. Mentioned below are the eligibility criteria for the Actuarial Science course.
Actuarial Science Eligibility Criteria for UG Courses
Actuarial Science requires students to meet certain eligibility requirements. They are advised to check the eligibility criteria before applying for admission. Mentioned below are the eligibility criteria for undergraduate courses in the field of Actuarial Science.
- Students should have completed their 10+2 examinations in the Science or Mathematics stream.
- English should be one of the subjects studied as a first language.
- There are no age restrictions for candidates appearing for this exam.
- Students should have a minimum aggregate of 60 per cent in their 10+2 examinations.
- Some colleges require students to have a minimum score of 70 per cent in Mathematics.
Top Entrance Exams for UG Courses
To gain admission to top colleges, candidates should appear for the respective entrance examination conducted at the national, state, and university levels. Below, we have provided some of the Actuarial Science entrance exams.
| Exam Name | Conducting Body | Exam Schedule |
|---|---|---|
NTA | ||
IAI |
Actuarial Science Eligibility Criteria for PG courses
The eligibility criteria for postgraduate courses in Actuarial Science depend on the institute, but they remain almost the same for every institute. Candidates must have passed their bachelor's with a 50 per cent aggregate score or as specified by the institute. Mentioned below are some important eligibility requirements for a postgraduate course in the field of Actuarial Science.
- Candidates must have a Bachelor’s degree in a related discipline to be eligible for admission.
- They must score a minimum aggregate of 50 per cent or as specified by the institute.
- Candidates are also required to appear for relevant entrance examinations.
Top Entrance Exams for PG Courses
Admission to courses in Actuarial Sciences is done based on students’ scores in entrance exams like CUET PG. Details regarding the entrance exams are furnished in the table below:
| Exam Name | Conducting Body | Exam Schedule |
|---|---|---|
NTA |
Scope of Actuarial Science in India and Abroad
Actuarial Science has a vast scope globally, as actuaries are essential in predicting and managing financial risks. With growing awareness of financial planning and risk assessment, their expertise is valued in industries such as insurance, banking, healthcare, and investment. The demand for skilled actuaries continues to rise worldwide.
The increasing focus on data analytics, financial planning, and risk management has expanded opportunities for actuarial professionals in both corporate and government organisations. Graduates can work in insurance firms, consulting companies, pension funds, and even tech-driven financial sectors. To enhance global prospects, actuaries can pursue internationally recognised certifications such as the Chartered Enterprise Risk Actuary (CERA) qualification.
Course Fees Actuarial Science
| Minimum Fees | Maximum Fees | |||
|---|---|---|---|---|
| Private | Government | Private | Government | |
| UG |
91.93 K
B.Sc. in Actuarial Science at Janta Vidya Mandir Ganpat Rai Rasiwasia PG College, Bhiwani
|
---
Data not available
|
20.00 Lakhs
B.Sc. in Actuarial Science at Vijay Patil School of Management, Navi Mumbai
|
4.38 Lakhs
B.Sc. in Actuarial Science at Yashwantrao Chavan Maharashtra Open University, Nashik
|
| PG |
18.00 K
P.G.D in Actuarial Science at Bishop Heber College, Tiruchirappalli
|
---
Data not available
|
11.00 Lakhs
M.Sc. in Actuarial Science at Vijay Patil School of Management, Navi Mumbai
|
80.29 K
M.Sc. in Actuarial Science at University of Madras, Chennai
|
| DIPLOMA |
7.90 K
Diploma in Actuarial Science at Indian School of Business Management and Administration, Kochi
|
50.00 K
Diploma in Actuarial Science at Gujarat University, Ahmedabad
|
7.90 K
Diploma in Actuarial Science at Indian School of Business Management and Administration, Kochi
|
50.00 K
Diploma in Actuarial Science at Gujarat University, Ahmedabad
|
Course Subjects
The Actuarial Science syllabus at both undergraduate and postgraduate levels focuses on mathematical, statistical, and financial principles used in risk assessment and insurance. Students gain analytical and problem-solving skills essential for the actuarial profession. Below are the detailed syllabi for both UG and PG courses.
Actuarial Science Syllabus for UG Courses
The undergraduate syllabus in Actuarial Science is designed to build a strong base in mathematics, statistics, finance, and insurance. It focuses on analytical and problem-solving skills through subjects like Probability Theory, Actuarial Mathematics, and Financial Markets. Mentioned below is the syllabus of the BSc in Actuarial Science from the University of Mumbai (MU).
Semester 1 | Semester 2 |
Business Awareness Module | Stochastic models |
Probability and Mathematical Statistics I | Probability and Mathematical Statistics II |
Financial Mathematics I | Financial Mathematics II |
Business Economics I | Actuarial Modelling |
Practical I | Practical II |
Semester 3 | Semester 4 |
Business Economics II | Statistical Methods I |
Life & health Contingencies I | Finance and Financial Reporting I |
Group insurance | Finance & Investments-I |
Retirement Benefits | Communications (Theoretical) |
Project Work I | Communications (Practical) |
Semester 5 | Semester 6 |
Actuarial Risk Management I | Statistical Methods II |
Life & health Contingencies II | Finance and Financial Reporting II |
Finance & Investments-II | Actuarial Risk Management – II |
General Insurance | Industry Project work II |
Presentation & Viva | Viva |
Actuarial Science Syllabus for PG Courses
The postgraduate syllabus in Actuarial Science focuses on advanced concepts in finance, risk modelling, and statistical computation. It helps students develop analytical and managerial skills essential for professional actuarial roles. Subjects include Contingencies, Financial Mathematics, and Business Economics. Mentioned below is the syllabus of the MSc in Actuarial Science from Mahatma Gandhi University.
Semester 1 | Semester 2 |
Actuarial Statistics – I | Actuarial Statistics – II |
Financial Mathematics – I | Financial Mathematics – II |
Business Economics – I | Business Economics – II |
Survival Models | Contingencies – I |
Actuarial Computing – I | Actuarial Computing – II |
Semester 3 | Semester 4 |
Contingencies – II | Pricing and Reserving of Life Assurances and Annuities |
Risk Modelling – I | Risk Modelling – II |
Business Finance | Business Management |
Actuarial Computing – III | Actuarial Computing – IV |
Group A – Electives | Group B – Electives |
Risk Management | Actuarial Risk Management |
Insurance and Retirement Benefits | Research Methodology |
Financial Engineering | Marketing of Services |
Careers in Actuarial Science
A career in Actuarial Science offers diverse opportunities across finance, insurance, consulting, and risk management sectors. Graduates gain skills in data analysis, statistics, and financial modelling, allowing them to work in both public and private organisations with strong career growth potential. Below are some job roles in this field:
| Job Roles | Description |
|---|---|
Actuaries analyse financial risks using mathematics, statistics, and economics. They work with insurance companies, pension funds, and corporations to design policies and minimise potential losses. | |
Actuarial Analysts | Actuarial Analysts assist in collecting and interpreting data for financial forecasting. They support senior actuaries in preparing models and evaluating risks for insurance and investment firms. |
Actuarial Consultants | Actuarial Consultants provide expert advice to businesses on managing financial uncertainty. They work with clients to develop strategies for pricing, investments, and long-term planning. |
Risk Managers | Risk Managers identify, analyse, and mitigate financial and operational risks. They ensure organisations implement effective policies to reduce losses and maintain compliance. |
Data Scientists use statistical and computational methods to analyse complex datasets. They support business decisions by predicting trends and improving financial models in the actuarial field. |
Upcoming trends
Actuarial Science is evolving rapidly with the integration of modern technology and data-driven decision-making. The field now focuses on automation, sustainability, and innovation in financial risk assessment. These advancements are creating diverse opportunities for actuarial professionals across industries. Below are some of the current and upcoming trends in Actuarial Science:
- Automation and Artificial Intelligence
- Data Analytics and Predictive Modelling
- Actuarial Innovation in Product Development
- Focus on ESG (Environmental, Social, and Governance)
- Shift Towards Digitalisation
Job Profiles and Top Recruiters
Students graduating with an Actuarial Science can work at various places such as Insurance Companies, Consulting Firms, Investment and Financial Services, Government Sector, and Risk Management companies. In the following table, we have mentioned the top recruiters in the field of Actuarial Science.
Top Recruiters:
- ICICI Prudential
- ING
- Niva Bupa
- E&Y
- PwC
- The Hartford
- Allstate
Average Salary
Candidates are required to know the salaries of the various job profiles in the field of Actuarial Science. The average salary depends on the candidate’s skills, the location of the company, and the job profile applied for by the candidate. Mentioned below are the top career options in the field of Actuarial Science, along with their average salaries:
| Job Roles | Average Salary (LPA) |
|---|---|
Actuary | Rs. 11.3 LPA |
Actuarial Analysts | Rs. 7.9 LPA |
Actuarial Consultants | Rs. 15.3 LPA |
Risk Managers | Rs. 13.5 LPA |
Data Scientists | Rs. 15.2 LPA |
Source: Glassdoor and AmbitionBox
Required Skillset for Actuarial Science
Actuarial science is not an easy field. Actuaries often lead teams and have a handful of different projects; therefore, they must be able to handle all kinds of situations. To do so, an actuary requires a wide range of skills, and some of them have been listed below:
- Problem-Solving Skills
- Mathematical Aptitude
- Technical Aptitude
- Good Communication and Interpersonal Skills
- Interest and Aptitude for Finance and Business
Course Curriculum for Actuarial Science
The course curriculum of Actuarial Science is designed to build a strong foundation in mathematics, statistics, finance, and economics. It trains students to analyse data, assess risks, and make strategic financial decisions. The syllabus also includes programming, insurance principles, and business studies to enhance analytical and professional skills.
At the postgraduate level, the curriculum focuses on advanced topics like risk modelling, actuarial statistics, and financial mathematics. Students learn to use statistical tools and computational techniques to solve real-world financial problems. The course also focuses on research, data analysis, and professional ethics essential for a successful actuarial career.
Popular Actuarial Science Entrance Exams in India
Popular Actuarial Science Colleges in India VIEW ALL
BSAU Chennai
- Fees: ₹ 120000
Amity University, Noida
- Fees: ₹ 360000
Madras University
- Fees: ₹ 80987
Frequently Asked Questions (FAQs)
Question: Can an examinee take more than one attempt for the actuarial science entrance exam?
Answer :
Unsuccessful Students can reappear by registering again for ACET.
Question: What are the degree programmes in the field of Actuarial Science?
Answer :
The most common degrees in the field of Actuarial Science include a BSc at the undergraduate level and an MSc or M.Phil at the postgraduate level.
Question: What is the duration of Actuarial Science courses at undergraduate and postgraduate level?
Answer :
The duration of Actuarial Science courses at the undergraduate level is generally three years, and the duration of a postgraduate course is commonly two years.
Question: What is the average salary of an Actuarial Science graduate in India?
Answer :
The salary after completing a course depends on the degree programme, level of education, the candidate's experience, the company's location, and the job profile applied for by the candidate. The average salary of an Actuary, according to Glassdoor, is Rs. 11.3 LPA.
Question: What is the eligibility for the Actuarial Science course?
Answer :
To pursue a BSc in Actuarial Science, students must have completed 10+2 with Mathematics as a core subject. For postgraduate courses like MSc, candidates need a bachelor’s degree in a relevant discipline, such as Mathematics, Statistics, or Economics, from a recognised university.
Question: What is an Actuarial Science course?
Answer :
Actuarial Science is a field that applies mathematics, statistics, and financial theory to assess and manage financial risks. It is mainly used in insurance, banking, and investment sectors to predict future events and design strategies that minimise financial loss.
Questions related to Actuarial Science
Showing 32 out of 32 Questions
248 Views
I am in second year of b.com hons. i heard about actuarial science, i wanted to know more about it more about the course and details.
12th Jan, 2022
Hello mam,
Actuarial Science, is all about finance field. After completion of the course, you will be able to assess financial risks associated with the insurances and related finance related fields. If you choose to work in USA, there is really a wider scope in the jobs. And choosing the course, will be a really wise thought. There is a real growth of 28% every year, in this sector.
The Christ University, Chandigarh University, Sathyabhama University, Amity University and Madras University, are the top colleges in India offering this course. https://dqxeclau.top/courses/actuarial-science-course . For more details, you can check the above link.
Hope this helps you,
Good Luck, Thank you :)
Answer later 288 Views
Commerce student can apply for Actuarial science and Artificial intelligence?
9th Nov, 2021
Actuarial Science as a field is all about data, numbers and statistics. Thus, it is very important to have a strong hold on Mathematics and Statistics.
10+2 or Equivalent is required for B.Com (Actuarial Science). Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in the insurance and finance industries.
Thank You.
655 Views
which is best institute for actuarial science?
7th Nov, 2021
Hi,
I hope you are doing well.
Here are some of the top colleges for actuarial science:
Christ University
UNOM - University of Madras
Chandigarh University (CU)
Amity University, Noida
Kerala University
Patna University
Mar Athanasius College
151 Views
can you please explain in details what is actuarial science?
25th Mar, 2021
Hello Anjali,
Actuarial science is a multidisciplinary subject of financial risks in the insurance and financial field with mathematics and statistics.
Mostly insurance plans and pension plans are two main focus of the actuarial science.
It basically helps in building mathematical models which help in reducing the risk and uncertainty in the sector of finance and insurance,
In india, if you want to pursue this you can apply in institute of actuarial science of India.
You need to have a good grip in mathematics to pursue this programme.
I hope it helps,
Best of luck
109 Views
if i get a degree in CA and Actuarial Science. What would be my annual salary if i combine both the degrees together?
4th Jan, 2021
For CA the average salary may vary from 6LPA to 25 LPA. For Actuarial Science the average salary may vary from 8 LPA to 40 LPA. The lower & Upper limits depends on the organization & the experience of the employee.
So if you can acquire both the degree and have proper knowledge then you can have a possibility of getting salary in a range 7LPA to 45LPA.
I hope my answer helps you. Have a great day!
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