BSc Actuarial Sciences

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Mar 13, 2023 19:31PM IST

About BSc Actuarial Sciences

Bachelor of Science in Actuarial Sciences is a 3-year undergraduate course designed for candidates who seek a career in the banking, investment and finance industry. The course comprises a diverse study of different fields of mathematics and statistics. Students are taught to decipher the economic pattern and market trends interns of figures and numbers. The course also comprises communication methodologies and study of risk management to teach the students how to prevent investment losses.

BSc Actuarial Sciences Course Highlights

Course Name

BSc Actuarial Sciences

Course Level


Course Type

Degree Programme

Course Stream


Course Duration

 3 Years

Minimum Qualification Required


Selection Process

Admission Through Entrance Exam

Course Fee

INR 50,000 - INR 3 Lakh

Job Types

Financial Analysts, Risk Managers, Auditors, Cost Estimators, Budget Analysts, Economists, etc.


INR 2.5 LPA - INR 15 LPA

Why choose the BSc Actuarial Science course?

The candidates can check the reasons why one should choose the BSc Actuarial Science course given below.

  • Candidates will have proficiency in solving investment issues and also in taking high level business decisions.
  • Candidates will have knowledge about stats, mathematical methods to assess finance and other financial related issues in BSc Actuarial Science course. 
  • Candidates  can learn core mathematical skills in the BSc Actuarial Science course. It is very important to find out the solution related to problems faced by government and commercial industries and insurance. It can be easily solved if a candidate pursues a BSc Actuarial Science course.
  • The actuaries can easily predict the interest rate in the stock market which is also very beneficial. In the banking sector, actuaries play a very important role.
  • The workload is very decent. The employees live a stress free life and jobs are easily available. BSc Actuarial Science  is a career oriented course.
  • There are several job profiles after pursuing BSc Actuarial Science course such as Budget Analysts, Financial Analysts, Risk Managers, Auditors, Economists, Cost Estimators, etc.
  • The salary starts from 3 Lakhs per annum which is a good figure for the job starters.
  • The employments areas for BSc  Actuarial Science graduates are Banking Sectors, Consulting Firms, Investment Sectors, Stock Exchanges, LICs, Actuarial Sciences, etc.
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BSc Actuarial Sciences Eligibility Criteria

In order to get admission or apply for BSc Actuarial Sciences, candidates must meet the following eligibility criteria.

  • Candidates must have completed Class 12 or equivalent level of education from a recognised Indian Board. 
  • The minimum percentage required may vary but candidates must have scored at least 70 per cent marks in aggregate in the compulsory subjects. 
  • Candidates must have studied Mathematics or Statistics or any relevant subject as one of the compulsory subjects in Class 12. 

Admission Process for BSc Actuarial Sciences

The candidates can check the admission process of BSc Actuarial Science course given below.

  • The admission to BSc Actuarial Science course is done on the basis of an entrance exam. 
  • Some institutes conduct their own entrance exam whereas some participate in the national-level entrance exams.
  • One of the top entrance exams for the course is Actuarial Science Entrance Exam conducted by Institute of Actuaries of India.

BSc Actuarial Science Top Colleges

The candidates can check the list of top 10 colleges of BSc Actuarial Science given below.

College Name

Admission Process

BSc Actuarial Science Fee (Average)

Amity University

Entrance based-Merit based

INR 1,05,000

Lovely Professional University


INR 90,000

Bishop Heber College

Entrance based-Merit based

INR 97,000

Yashwantrao Chavan Maharashtra Open University


INR 1,12,000

Kavayitri Bahinabai Chaudhari North Maharashtra University

Entrance based-Merit based

INR 17,000

Amity School of Insurance Banking and Actuarial Science


INR 1,05,000

Jain University

Entrance based-Merit based

INR 1,24,000

Chandigarh University

Entrance based-Merit based

INR 60,000

University of Petroleum and Energy Studies


INR 3,92,500

NIMS University


INR 40,000 per annum

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BSc Actuarial Sciences Syllabus

BSc Actuarial Science Syllabus Year I

Semester I

Mathematical Functions

Probability & Statistical Methods

General Insurance - I 

Understanding Self for Effectiveness

English Language Usage Essentials

Application of Calculus in Actuarial Science

Analytical Geometry of 2 Dimension

Life Insurance - I 

Numerical Methods & Application

Open Elective Courses

Semester II

Country Report (SAP Courses)

Modern Trends & Innovative Solutions through Technology Management

Foundation of Regulation of Insurance Business

Actuarial Application in IT - I

Understanding Business Environment in Global Scenario

Creating Global New Ventures

Probability & Statistical Methods-II

Management Foundation

General Insurance - II 

Introduction to Communication Skills

Individual Society and Nation

Methods of Applied Mathematics 

Foreign Business Language

Life Insurance - II 

BSc Actuarial Science Syllabus Year II

Semester III

Minor Project - I

New Leadership in Cross-cultural context 

Strategizing using Innovation

Actuarial Application in IT - II 

Business Research Methods in Global Environment 

Actuarial Accounting - I 

Probability & Statistical Methods - III 

Time Value of Money

Problem Solving and Creative Thinking

Country Report (SAP Courses)

Effective Written Communication

Sampling Techniques 

Introduction to Health Insurance 

Actuarial Economic Models-I 

Semester IV

Creating Global New Ventures

Understanding Business Environment in Global Scenario

Emergency Response to Life-saving Skills

Actuarial Application in IT - III 

Liability Insurance

Investment Project Appraisal

Actuarial Accounting - II 

Modern Trends & Innovative Solutions through Technology Management 

Probability & Statistical Methods-IV

Values and Ethics for Personal and Professional Development 

Fundamental of Life Insurance Underwriting

Foreign Business Language

Professional Communication for Recruitment and Employability

Principles of Finance

BSc Actuarial Science Syllabus Year III

Semester V

Semester VI

Outdoor Activity-Based Courses

Outdoor Activity-Based Courses

Foreign Business Language

Foreign Business Language

Open Elective Courses

Open Elective Courses

Important books for BSc in Actuarial Science Course

The list of important BSc Actuarial Science books are provided below along with the names of author.



Introduction to Actuarial and Financial Mathematical Methods

Stephen Garrett

Computational Actuarial Science with R

Arthur Charpentier

Introduction to Actuarial Science

Harry Anson Finney

Actuarial Statistics

Shailaja R Deshmukh

Introduction to Actuarial

A.K.Gupta T. Varga

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BSc Actuarial Sciences Career Options and Job Prospects

Actuarial science is the core of the banking and finance sector. It is a very important field as it covers risk management in the investment sector and estimates business prospects. Every investment, finance and banking organization needs actuaries to predict the stock market and interest rates basis which money is invested in the market. Actuaries also help organisations in predicting potential investment risks in order to prevent losses. Graduates in this field are always in demand and following are some of the jobs that you can pick after completing BSc in Actuarial Sciences.

Some of the top employment areas and job profiles that candidates can explore are mentioned below. 

Employment Areas
  • Colleges & Universities
  • Stock Exchanges
  • Investment Sector
  • Healthcare Units
  • Actuarial Sciences
  • LICs
  • Consulting Firms
  • Banking Sector
Job Profiles
  • Actuary
  • Cost Estimator
  • Accountants and Auditors
  • Catastrophe Risk Analyst
  • Economists
  • Budget Analysts
  • Financial Analysts
  • Business Intelligence Consultant
  • Mathematicians
  • Insurance Underwriters
  • Investment Consultants
  • Postsecondary Teachers

Salary After BSc Actuarial Science

Actuarial Science is one of the highest paying fields in the BSFI sector and lucrative jobs are offered at graduate as well as postgraduate level. Freshly graduated candidates can expect a starting salary of Rs. 2.5 lakh to Rs. 5 lakh. Experienced professionals and MBAs in this field are also offered packages up to Rs. 15 lakhs.

For better understanding, salary packages offered to candidates at different job profiles are mentioned below in the table. 

Job Profiles Initial Salary Package
Actuary INR 7 LPA - INR 8 LPA
Budget Analysts INR 3 LPA - INR 4 LPA
Accountants and Auditors INR 2.5 LPA - INR 5 LPA
Cost Estimators INR 4.5 - INR 5 LPA
Financial Analysts INR 3 LPA - INR 5 LPA
Economists INR 6.5 LPA - INR 7.5 LPA

BSc Actuarial Science Job Roles

The candidates can check in details the job profile and their work below.

Job Role

Description of Work

Salary of BSc Actuarial Science Graduates (Average)


All the financial related activities are handled by Actuary as they analyze and also try to suggest the risks involved in the financial sector. They are usually found to be working in insurance sectors and pension programs. 

6,00,000-7,00,000 per annum

Budget Analysts

Accountable for analyzing budgets that need to be invested in different departments. They help both public and private industries in organizing and maintaining their finances with the help of budget analysis. 

3,50,000-4,00,000 per annum


Economists are responsible for analyzing the market trends and suggest proper ways of investment by doing a lot of market research. Also responsible for collecting and analyzing data of goods and services and evaluating economic issues.

6,00,000-6,80,000 per annum

Cost Estimators

They estimate the total cost involved in any project. They also take care of the date, time and the number of laborers that are required to complete an assigned task. They estimate cost considering all the aspects. The cost of materials and the money required to construct a building, product, or for providing any service are estimated by cost estimators. 

5,00,000-6,00,000 per annum


Mathematicians are responsible for researching, understanding and developing mathematical principles required for any project. 

6,00,000-7,00,000 per annum

Insurance Underwriters

Crucial for any organization. They are accountable for deciding whether to provide insurance service or not to the clients. They study the insurance policies and decide any kind of grant of insurance after going through all the terms and conditions that are provided by the company.  

3,80,000-4,00,000 per annum

Auditors and Accountants

They do audits of all the funds that have been released by the organization to different departments. They examine and prepare all financial records and statements. They are responsible for maintaining all financial records and ensuring that all the taxes are paid in time. 

2,30,000-4,00,000 per annum

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FAQs about B.Sc Actuarial Sciences

What is the duration of the course B.Sc - Actuarial Sciences ?

B.Sc - Actuarial Sciences is a 3 year course.

What are the popular specializations related to B.Sc - Actuarial Sciences ?

Some of the popular specializations for B.Sc. (Bachelor of Science) are : Marketing , Genetic Science & Chemistry , Mathematics , Health Information Administration , Microbiology.

What is the average fee for the course B.Sc - Actuarial Sciences ?

The average fee for B.Sc - Actuarial Sciences is INR 40,000 per year.

I want admission in B.Sc - Actuarial Sciences. Do I have to clear any exams for that ?

Delhi University Arts , Andhra Pradesh Residential Degree Colleges Common Entranc Test , Indian Maritime University Common Entrance Test) , Madhya Pradesh Pre Agriculture Test , Aligarh Muslim University Entrance Exam are some of the exams that you can appear for to get admission in B.Sc - Actuarial Sciences courses.

What are the top colleges offering B.Sc - Actuarial Sciences courses ?

Following are some of the top colleges offering Commerce and Banking courses : Stella Maris College (Chennai) , Indraprastha College for Women (New Delhi) , Rishi UBR PG College for Women (Hyderabad) , Narsee Monjee college of Commerce and Economics (Mumbai) , St. Xavier's College (Kolkata). You can explore these colleges on our website to check if they offer B.Sc - Actuarial Sciences or not.
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Related Questions


Biswajit Chakra, Student / Alumni

-Answered on Oct-05-2023
Hello Sir/Madam can you please explain what is Electro-Technical Officer Course

Tanisha Gupta, Student / Alumni

-Answered on Sept-06-2023
M.A ke parivat form kab nikalenge 2023

Rahul Raj, Student / Alumni

-Answered on Apr-26-2021

Dear Student, 

There are many B.Sc Actuarial Science Colleges in India that you can consider for admission. The following are some of the best colleges with outstanding placement records: -

If you want to learn more about any college admissions process, please fill out our common application form; our educational experts will guide you through the admission process of the college. Please call our toll-free number 1800-572-9877 for FREE counselling if you have any doubts.

Thank you

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