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Course options

  • Qualification

    MSc - Master of Science

  • Location

    Edinburgh Campus

  • Study mode

    Full time

  • Start date

    09-SEP-24

  • Duration

    1 year

Course summary

Overview

Actuaries are members of a prestigious profession, known for its challenging entry requirements and impactful work. Our MSc in Actuarial Science provides you with a fast track into the profession by providing up to six exemptions from the exams you must pass to become a fully qualified actuary.

Actuaries are experts in risk management. Most actuaries work in the areas of life insurance, general insurance, pensions, and investment, but also more widely in fund management companies, sustainability, banking, hedge funds, consultancies, software developers and regulatory authorities. As experts in data science, actuaries are increasingly in demand across the world.

The actuarial career is also fun because you can apply your mathematical skills to solve problems and plan for the future.

Salaries are typically high and the work-life balance can be excellent. A newly qualified actuary in the UK usually earns between £50,000 and £60,000 each year. Salaries increase to significantly higher levels in the years after qualification.

Our MSc in Actuarial Science takes you through the first six exams with the Institute and Faculty of Actuaries (IFoA) in the UK and so accelerates your journey to becoming an actuarial professional. The exams are mathematical in nature and develop your skills in applying statistical and financial models to plan for the future.

Our MSc programme is distinguished by our University’s 50+ years at the heart of the actuarial profession, by being delivered by qualified actuaries with industry experience along with high-flying actuarial researchers, by our high student satisfaction and by our location in Edinburgh, one of the world’s most beautiful cities.

Accreditation

The

  • Institute and Faculty of Actuaries (IFoA)
  • in the UK sets exams that must be passed to qualify as a Fellow of the IFoA and become fully qualified as an actuary.

    Our MSc in Actuarial Science is fully accredited with the IFoA which means that the subjects you study on our program lead to exemptions from the corresponding subjects with the IFoA.

    These are (with IFoA subject codes in brackets):



    • Actuarial Statistics (CS1)

    • Risk Modelling and Survival Analysis (CS2)

    • Actuarial Mathematics (CM1)

    • Financial Engineering and Loss Reserving (CM2)

    • Business Finance (CB1)

    • Business Economics (CB2)

    These six exemptions put you well on your way to full qualification and demonstrate your actuarial ability to potential employers.

    Tuition fees

    Students living in United States
    (International fees)

    £ 27,200per year

    Tuition fees shown are for indicative purposes and may vary. Please check with the institution for most up to date details.

    University information

    Heriot-Watt University

    Heriot-Watt University

    • University League Table

      44th

    • Campus address

      Heriot-Watt University, Riccarton, Edinburgh, Edinburgh, City Of, EH14 4AS, Scotland

    One of Scotland's most international universities. With five global campuses, you'll join over 27,000 students and an alumni network of 159,000 in 190 nations.
    Global companies actively seek out Heriot-Watt graduates due to the nature of the university's research-informed education.
    Opportunities to transfer seamlessly between campuses in Dubai, Malaysia and Scotland through the university's 'Go Global' scheme.

    Subject rankings

    • Subject ranking

      23rd out of 104

    • Entry standards

      / Max 222
      194 85%

      4th

    • Graduate prospects

      / Max 100
      76.0 76%

      26th

      9
    • Student satisfaction

      / Max 5
      3.59 72%

      100th

      77

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