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B.Sc Actuarial Sciences (B.Sc Actuarial Sciences)

Updated By Abhik Das on 25 Nov, 2020
Average Duration
3 years
Average Fee
20 K-1 L INR annual
Exams Accepted
KCET, KIITEE, SAAT ...
Study Mode
Regular

About B.Sc 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.

B.Sc Actuarial Sciences Course Highlights

Course Name

B.Sc Actuarial Sciences

Course Level

Graduation

Course Type

Degree Programme

Course Stream

Science

Course Duration

 3 Years

Minimum Qualification Required

10+2

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.

Salary

INR 2.5 LPA - INR 15 LPA

B.Sc Actuarial Sciences Eligibility Criteria

In order to get admission or apply for B.Sc 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 B.Sc Actuarial Sciences

  • The admission to B.Sc. 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.

B.Sc Actuarial Sciences 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 

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

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

Want to know more about

B.Sc Actuarial Sciences?

B.Sc 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 B.Sc. 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 B.Sc. 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 ProfilesInitial Salary Package
ActuaryINR 7 LPA - INR 8 LPA
Budget AnalystsINR 3 LPA - INR 4 LPA
Accountants and AuditorsINR 2.5 LPA - INR 5 LPA
Cost EstimatorsINR 4.5 - INR 5 LPA
Financial AnalystsINR 3 LPA - INR 5 LPA
EconomistsINR 6.5 LPA - INR 7.5 LPA

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FAQs about B.Sc Actuarial Sciences

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.

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.

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 duration of the course B.Sc - Actuarial Sciences ?

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

Get details of best colleges for B.Sc Actuarial Sciences.

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