Students who enjoy maths and statistics and are interested in the investment of money may enjoy a successful career as an actuary. Actuaries are professionals in charge of designing products to handle the economic needs of the people and to protect their financial interests. The demand for actuaries around the world is high and so, students who pursue their higher studies in actuarial science can secure a bright future. There are lots of universities around the world that offer important courses on actuarial science and students who wish to become actuaries must apply to the universities in order to realize their future potential.
Why Study Actuarial Science?
Wherever there is risk, there are prospects for actuaries, and risk factor is in every action. Based on financial and insurance sector Actuarial science provides great career opportunities to the students. Actuaries enhance the value by allowing businesses and individuals to make informed decisions with a clearer view of the likely range of financial outcomes from different future events. The study program in is recognized worldwide with mutual exemptions with a lot of other global actuarial institutes. Better hold on basic mathematical/statistical concepts could prove beneficial. However, in the long run, student hard work and dedication would count the most.
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In order to qualify as an actuary, students require a proper honours degree in the field of Actuarial Science along with expert professional qualifications, and they can achieve both when they join one of the best universities for Actuarial Science.
List of Best Actuarial Science Universities
Columbia University offers a part-time or full-time course in Actuarial Science and requires 3-6 terms to complete. The ranking of Columbia University in the United States according to 2014-15 Times Higher Education is #14.
Scholarships: Columbia University does not offer any dedicated scholarships to students in the field of Actuarial Science.
Ranked 16th according to 2014-15 Times Higher Education, the University of Pennsylvania in the U.S. is one of the best universities for Actuarial Science. Actuarial Science is taught at the Wharton School at the undergraduate level.
Scholarships: Pennsylvania University students in Actuarial Science can apply for various scholarships, including the Richard de Raismes Kip Prize in Insurance and Risk Management, the Northwestern Mutual Actuarial Fellowship, and the Actuaries Club of Philadelphia Scholarship.
The University of Leicester in the United Kingdom provides students with MSc in Actuarial Science through distance learning. The applicants need to have a minimum of 2:1 classification in a relevant first degree. The university has been ranked 18th in the 2014-15 Times Higher Education Table of Tables.
Located in the U.K., the Heriot-Watt University is one of the leading centres of teaching and research in the field of actuarial mathematics, probability and statistics, and financial mathematics. The specialist actuarial course in the university has been accredited by the actuarial profession in the United Kingdom. The University has ranked #25 in the U.K. according to the 2014-15 Times Higher Education Table of Tables.
Scholarships: Undergraduate Actuarial Science students in the University can submit their applications for different positions, including the Google Anita Borg Memorial Scholarship, the Heriot-Watt Academic Scholarship, the MACS Undergraduate Overseas Scholarship, and the Rapid Formations Entrepreneur programme.
The University of Waterloo is the biggest English language Actuarial Science program in Canada and happens to be one of the largest university-based actuarial science courses in the globe. The University ranked #169 in the 2014-15 QS World University Rankings.
Scholarships: Students can apply for various scholarships including the Ailey Bailin Memorial Scholarship in Actuarial Science, the George Barnard Statistics Prize, the Winston and Diana Cherry Awards in Statistics, the Samuel Eckler Medal in Actuarial Science, and the Economical Insurance Upper Year Actuarial Scholarship.
The Actuarial Science course at the Wisconsin School of Business is designated by the Society of Actuaries and the Risk Management and Insurance Program as one of the best in the nation. The Global MBA Ranking of the University in 2014 according to the Financial Times is #81.
Scholarships: The University of Wisconsin in USA offers a High School Actuarial Scholarship to students who are good at maths and interested in pursuing a career as an actuary.
The UNSW Australian School of Business provides both an undergraduate Actuarial major as well as a Master of Actuarial Studies along with a research degree program. The University has been ranked 48th in the 2014 QS World University Rankings.
Scholarships: Students can apply for the Actuarial Studies Co-op Program which is a four year program with fifteen months’ worth industrial training.
Ranked #43 in the world by Times Higher Education Table of Tables, the University of Hong Kong offers a Degree of Bachelor of Science in Actuarial Science (BSc ActuarSc) to prospective students.
Scholarships: There are multiple grants available to Actuarial Science students, including the Dr Patrick S C Poon Scholarship in Actuarial Science and the Statistics and Actuarial Science (SAAS) Scholarships.
The Amity School of Insurance and Actuarial Science offers both graduate and postgraduate courses in Actuarial Science. While the graduate course lasts for five years, the postgraduate course extends for two years.
Scholarships: There are plenty of scholarships on offer for students of the University pursuing Actuarial Science.
Students can pursue a postgraduate diploma course in Actuarial Sciences from the International School of Actuarial Sciences in India. The course lasts for one year. The University was ranked 70th out of the top 100 B-schools in India in 2011.
Scholarships: The Catlin Insurance Company Ltd. offers an annual cash award of 1 lac rupees to students securing the highest marks in post-graduation diploma in the field of Actuarial Sciences.
Students around the world have lots of options when it comes to pursuing a career in Actuarial Sciences due to the large number of universities which offer the course.