Actuarial Science involves using mathematics, statistics, and financial theory to assess and manage future risk—particularly in insurance, finance, pensions, and risk management. Actuaries model the likelihood of events (e.g. death, accidents) and advise businesses or governments on pricing, strategy, and reserves
The profession is highly ranked: #5 in Technology Jobs and #7 in STEM jobs in 2025. Actuaries combine analytical problem-solving, risk modeling, and strategic communication to support business decisions
Ideal candidates typically have:
Strong proficiency in mathematics (probability, statistics, calculus).
Analytical and problem-solving skills.
Interest in financial systems, economics, and risk theory.
Persistence for rigorous exam preparation.
Solid communication skills to explain technical results clearly
In India:
Class 10+2 pass with a minimum 50–60%, typically in Maths (preferable Commerce/Science stream)
Common entrance: ACET by Institute of Actuaries of India (requires 50%+)
Alternative paths: qualifications like CA, CS, or ICMAI, or relevant degrees
Abroad:
Bachelor's in Math, Statistics, Finance or related field.
International programs may require standardized tests, e.g., SAT/ACT, and portfolios for related fields (less common for actuarial Science).
In India:
ACET is the primary Actuarial entrance.
Other university admissions may rely on board marks, CUET, or university-level exams
Abroad:
No universal actuarial entry exam—admission to business, math, or statistics programs may require SAT/ACT, or specific prerequisites (e.g., calculus, economic fundamentals).
University of Delhi
Symbiosis International University
Indian Statistical Institute (ISI)
IMS Unison
IIT Delhi
Jadavpur University
Manipal Academy
IIT Kharagpur
Christ University
Amity University
Many global universities with strong actuarial programs are SOA-endorsed.
Common destinations include: University of Toronto, Heriot‑Watt University, Cass Business School (City, London), University of Waterloo, Illinois, etc. (for specifics, check SOA UCAP list)
Ug undergraduate (3 years):
Core: calculus, probability & statistics, financial mathematics, economics, risk management.
Practical projects—institutes may include internships.
Degree offered: BSc in Actuarial Science or joint programs like Quantitative Finance.
Example: Patkar Varde offers 3‑year BSc + M.Sc in related fields
Global programs often follow similar structures with additional modeling, data analytics, and case studies.
After a BSc in Actuarial Science, students may pursue:
M.Sc or M.A. in Actuarial Science
MBA (Finance or Risk Management)
M.Arch: Not directly linked
Urban Planning, etc.—not typical follow-ups.
Common: M.Sc in Actuarial Science or Data Analytics
Quantitative analysis & advanced probability/statistics
Programming (Python, R, SAS) and tools: Excel, SQL, Power BI, Prophet, GGY AXIS, MoSes
Financial modeling, communication and problem-solving
Pricing actuary, reserving actuary
Pension/retirement consultant, investment/finance analyst
Data scientist or actuarial consultant
Financial analyst, risk analyst, Investment analyst
Risk management specialist
Excel, SQL, Python, R, SAS
Specialized: GGY AXIS, Prophet, MG-ALFA, MoSes
Visualization: Power BI, Tableau
Cloud: AWS, Azure