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Career in Actuarial Science Vs Chartered Accountancy - Which is Better?

Diksha Nautiyal
Diksha NautiyalUpdated On: April 27, 2021 03:29 pm IST | CA CPT

If crunching numbers, analysing data and interpreting statistics gives you a rush in the head then these are the courses for you. Check out the comparison between CA and Actuarial Science courses below to go with the best. 

Actuarial Science Vs Chartered Accountancy

The rapid growth in business and the expansion of the Indian economy has increased the demand for skilled professionals with a talent for statistical and mathematical problem-solving. This has drawn many individuals towards making a career where their mathematical skills are used every day.

The two most famous courses that offer a career in the field are Actuarial Science and Chartered Accountancy. The country has witnessed an elevation in the graph of people opting for these two areas courses in the past few decades. But, students often tend to get confused between choosing Actuarial Science and Chartered Accountancy. If you are one of them, then we are here to clear all of your doubts by giving you a well-researched comparison between a career as an Actuary and CA.

Difference Between Actuarial Science and Chartered Accountancy?

Where a professional in the field of Actuarial Science predicts financial impacts of the events that may occur in future, a Chartered Accountant handles financial impacts of the events that have already occurred. Many students think that the jobs are very similar and the requirements do not differ much. But, sorry to be the one breaking your bubble because there are many differences between both the courses and their career prospects.

Knowing the difference is very important for you to finalise which is best for you. But before that, it is crucial that you are well aware of how both the courses work. Here are the links that will help you.

Know all about Actuarial Science Courses in India.

Get a detailed guide on the CA course in India.

Actuarial Science Vs CA Course - Duration

Here is the comparison of course duration between Actuarial Science course and the CA course.

Actuarial Science Duration

CA Course Duration

The duration is not fixed.

The duration is not fixed.

Candidates are required to clear 15 prescribed subjects to be awarded the Fellowship or Certification by the Institute of Actuaries of India (IAI).

Candidates have to clear three levels of the course at their own pace to be awarded the certification by the Institute of Chartered Accountants of India (ICAI).

The minimum duration to complete the course is 5 Years.

The minimum duration to complete the course through Foundation route is 4.5 years and 3 years through Direct Entry.

The maximum duration to complete the course is 8 Years.

The maximum duration to complete the course is 5 - 6 Years.

Actuarial Science Vs CA Course Eligibility

Listed below in the table is a comparison of eligibility between Actuarial Science Vs CA course.



Actuarial Science

Educational Qualification

  • For Foundation Route, candidates must have completed 10+2 with Mathematics.

  • For Direct Route, candidates must have completed graduation with Mathematics.

  • Candidates must have passed HSC or equivalent with Statistics and Mathematics.

  • Candidates with PG or UG degrees in Mathematics can also apply.

Minimum Percentage Required

Not prescribed by the ICAI.

At least 85% at HSC level and 55% at PG or UG level.

Minimum Age Requirement

17 Years

18 Years

Skills Required

  • Commercial Awareness

  • Analytical Skills

  • Leadership

  • Time Management

  • Organisation

  • Adaptability

  • Openness

  • Specialised in Mathematics

  • Project Management

  • Keen Analysis

  • Excellent Business Sense

  • Communication Skills

  • Computer Skills

Actuarial Science Vs CA Course (Levels)

Both courses are completed in different stages and levels. Students have to pass each level at their own pace to reach the next level. Here is a comparison of different levels/ stages of the Actuarial Science and CA course.


Actuarial Science

CA Course

Entrance Exam Given

Actuarial Common Entrance Test (ACET)

CA CPT (Chartered Accountant Common Proficiency Test)

Number of Stages/ Levels

4 stages

3 levels/ exams

Stage/ Level Name

  1. Core Technical (CT)

  2. Core Application (CA)

  3. Specialist Technical (ST)

  4. Specialist Application (SA)

  1. Common Proficiency Test (CPT)

  2. Integrated Professional Competence Course (IPCC)

  3. Final course (FC)

Actuarial Science Vs CA Course Job Prospects and Salary Package

Professionals in Actuarial Science have different options than of CAs. What students generally look for is ‘Does Actuarial Science pay more salary than CA’? If you are looking for the answer, then the following table is for you.


CA Course

Actuarial Science

Fields and Areas

  • Banking Sector

  • Insurance Sector

  • Auditing Firms

  • Tax Advisory Firms

  • Income Tax Department

  • Stock Broking Firms

  • Asset Management Firms

  • Law Firms

  • CA Firms

  • Finance Companies

  • Corporate Houses

  • Health Insurance Companies

  • Life Insurance

  • Risk Analysis

  • CA

  • Finance

  • Scientific and Technical Services

Job Profiles

  • Auditor

  • Entrepreneur

  • Chartered Accountant

  • Actuary Professional

  • Cost Accountant

  • Company Secretary in Practice

  • Partner at a Consultancy Firm

  • Investment Banker

  • Civil Servant

  • Health Insurance Actuary

  • Life Insurance Actuary

  • Pension and Retirement Benefits Actuary

  • Property and Casualty Insurance Actuary

  • Enterprise Risk Actuary

Salary Package

Depending on one’s experience and the organisation, the salary package can vary from INR 6 LPA to INR 25 LPA.

Depending on one’s experience, the salary package can vary from INR 8 LPA to INR 40 LPA.

Major Recruiters

  • TCS

  • HUL

  • Deloitte

  • KPMG

  • Wipro

  • E&Y

  • PWC

  • Wockhardt

  • Aviva Life Insurance Co.Ltd

  • ICICI Prudential Life Insurance Co.Ltd

  • HDFC Standard Life Insurance Co.Ltd

  • Met Life Insurance Co.Ltd

  • Bajaj Alliance

  • Cholamandalam GIC

  • Reliance GIF


  • National Insurance Co.

  • Oriental Insurance

  • New India Assurance Company

  • Life Insurance Corporation of India

Actuary Vs CA - What Do They Do?

A professional in the field of Actuarial Science is called an Actuary. If you are wondering about the ‘Responsibilities of an Actuary Vs CA’ then the following comparison would help you.



  • Determining the interest rate for insurance policies for customers.

  • To design financial policies and to monitor them ensuring enough funds in a company.

  • Dealing with insurance risks and minimising losses.

  • Predicting financial risks while designing an insurance policy due to events like illness, etc.

  • Risk assessment to do the financial planning of a company.

  • Implementing accounting systems and processing them.

  • Reviewing and releasing online banking payments.

  • To prepare financial reports and expense budget report.

  • Ensuring compliance with state revenue services.

  • Researching and resolving accounting and tax issues affecting a firm.

  • Developing and maintaining strong relationships with clients through exceptional skills.

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Both CA and Actuarial Science are the top 25 professions in the world. But choosing between them is always a challenge. You have a comparison of all aspects of the courses. Now, choose the one that would take your dreams forward. If you want to more and have any other queries, fill out our Common Application Form. Our education experts will contact you soon after.

Good luck!


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