If you have the intention of majoring in Actuarial sciences and you don’t know the best schools for actuarial science majors. Well, we bring to you the 9 best schools for Actuarial sciences.
Actuarial science is becoming more and more popular among mathematics/ statistics loving students looking for ways to use their skills after college.
What is Actuarial Science?
Actuarial science is a discipline that uses mathematics and statistical methods to access risk in insurance, finance and other professions and industries. These highly specialized skills are primarily used in the insurance industry to ensure that insurance companies are financially stable now and for decades into the future.
Actuaries equally entail professionals responsible for designing products to manage the economic needs of people and protect their financial interests. The demand for actuaries around the world is high, and as a result, students pursuing graduate studies in actuarial science can ensure a bright future.
Does this sound like something that might interest you? Well, I’m sure you have a lot of questions, so I have answered some of the details of the more common question below. These questions and answers will help you learn more about the field of Actuarial science and whether it is right for you.
In order to qualify as an actuary, students must engage in some series of degree programmes, here we have prepared for you the best universities for Actuarial science programmes.
Best Universities for Actuarial Science in 2020
Here are the best schools for Actuarial science, if you want to acquire a better degree and secure a good job in the field, think of these schools.
Columbia University is one of the best schools for actuarial science. They offer a part-time or full-time course in Actuarial Science and requires 3-6 terms to complete.
The Master of Science in Actuarial Science program at Columbia University is internationally renowned for its breakthrough curriculum and esteemed faculty.
The program equips students with the tools, skills, and knowledge to excel in today’s rapidly evolving actuarial and related workplaces, with a course of study designed to anticipate and exceed industry needs.
Columbia University’s actuarial science program is ranked #1 worldwide by Universities.com (2017).
University of Pennsylvania
The University of Pennsylvania is recorded as one of the best universities for Actuarial science in the United State. Actuarial Science is taught at the Wharton School at the undergraduate level.
Actuarial science is one of the concentrations offered to Wharton School students. Students from other Schools may minor in actuarial mathematics.
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.
Heriot-Watt University is recognised as a Center of Actuarial Excellence by the Society of Actuaries (SOA), North America. They are regarded as the only Center of Actuarial Excellence in Europe and one of only 30 other schools worldwide with this designation.
The University has ranked 251-300 in the world according to the 2020 Times Higher Education.
University of Leicester
The university is recorded as one of the best schools for Actuarial science in the world. 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.
University of Waterloo
The University of Waterloo is regarded to be amongst the best schools for Actuarial science in the globe. The University is also 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 2020 Times Higher Education World University Rankings placed Waterloo 201–250 in the world and 8–10 in Canada.
Also Read: 15 Best Business Schools in Canada 2020
Wisconsin School of Business
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 University of Hong Kong
HKU was ranked No.2 worldwide and No.1 in Asia based on research contributions from the top 4 actuarial journals (ASTIN Bulletin, Insurance: Mathematics and Economics, North American Actuarial Journal, and Scandinavian Actuarial Journal) amongst non-business schools over a 25-year period from 1994 to 2019.
The school is said to among the best schools for Actuarial science in the world. The HKU Department of Statistics and Actuarial Science offers numerous Bachelor, full-time/part-time Taught Master, and Research Postgraduate programmes.
UNSW Australian School of Business
UNSW Business School is a leading business school in the Asia-Pacific, and are ranked 1st worldwide for Risk and Actuarial Studies.
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 is considered amongst the best schools for Actuarial science in the world.
Amity School of Insurance and Actuarial Science (A.S.I.A.S.)
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. This school is regarded as one of the best colleges for Actuarial science.
Students around the world have lots of options when it comes to pursuing a career in Actuarial Sciences due to a large number of universities which offer the course.
The main goal of people who specialize in actuarial science is to become an actuary. An actuary is a person who generally works in an insurance company and is a specialist in risk quantification.
Actuaries use mathematical and statistical concepts to determine the likelihood that certain events will occur in the future (and when they will happen), as well as the expected financial impact of those events.
Majoring in actuarial science is challenging. On a scale from 1-10 (1 being the easiest), I’d say it’s around a 7 or 8. It requires that you have fairly good math skills and that you really enjoy it.
Technically the answer is yes. Anyone with sufficient math skills can become an actuary. But there are some requirements that you need to fulfill beforehand.
The decision to become an actuary should be taken very seriously. Becoming one is a much longer-term commitment than most careers due to the actuarial exams.