MSc Actuarial Science and Management

Heriot-Watt University Edinburgh, Edinburgh, United Kingdom

Shortlist

# 201-250QS Subject Rankings

24 monthsProgram duration

19,816 GBPTuition Fee/year

YesScholarships

Shortlist

Program overview

Main Subject

Mathematics

Degree

MSc

Study Level

Masters

Study Mode

On Campus

Overview

If you aspire to become an actuary, our MSc in Actuarial Science and Management takes you through the required exams almost to the point of qualification with the Institute and Faculty of Actuaries (IFoA) in the UK.

Your journey spans two...
Read more

Overview

Your journey spans two enriching years. In the first year, you'll immerse yourself in mathematical subjects, building a strong foundation. In the second year, you'll apply these mathematical principles to real-world situations. Moreover, during this stage, you'll have the opportunity to expand your horizons by choosing from a range of modules, including those related to machine learning.

As an aspiring actuary, your expertise will find application in various sectors, including:

life insurance
general insurance
pensions
Investment
Banking

Your career prospects extend beyond these, encompassing roles in:

Fund Management Companies
Hedge Funds
Consultancies
Software Vendors
Regulatory Authorities.

What makes this career truly enjoyable is the consistent use of your mathematical prowess to solve complex problems and make insightful predictions about the future. Your journey towards becoming a qualified actuary is not only intellectually stimulating but also professionally rewarding, offering you a world of opportunity upon graduating.

Tailored for success as an Actuary

This programme has been uniquely designed to offer a blend of technical mastery, business acumen, and communication skills essential for a successful actuarial career.

Developed in collaboration with industry leaders, it ensures the acquisition of sought-after skills, setting you apart in interviews and excelling in real-world tasks.

Gain a competitive edge with an intensified focus on software tools like Excel and R, and experience enriched learning through 'value-added' components, emphasizing teamwork and communication.

Self-Taught Courses On Enrolment

On enrolment, you will gain access to the following self-taught courses that you can use (if you wish):

Introduction To R Programming
Introduction To Python Programming (For R Users)
Report Writing

In addition, enrolment at Heriot-Watt University gives you free access to LinkedIn Learning which contains thousands of online courses covering a wide range of subject areas.

Our expertise

Heriot-Watt University was the first Centre of Actuarial Excellence (as recognised by the society of actuaries (SOA) – North America) in Europe
Heriot-Watt University was the first in the UK to offer a degree in actuarial science.  We have been leading the way in the UK ever since and built a wonderful teaching team of world-renowned academics and experienced industry professionals. 
Each year we enable between 100 and 200 students to gain exemptions from actuarial subjects. 
We also understand that you need to be ready for the business world and able to interview well.  We develop these softer skills too, and develop your ethics, so you will become an excellent capable professional.

Customise your learning

In year one of the programme you study courses that correspond with exemptions from IFoA subject codes: CB1, CB2, CM1, CM2, CS1 and CS2.
In year two of the programme you study your choice of courses that correspond with exemptions from IFoA subject codes: CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9.  Typically students choose courses linking to subjects CP1, CP2 and CP3 and also three of the "SP" subjects.  (However, only two "SP" subjects are actually required by the IFoA.)
Alternatively, in the second year, one of the "SP" subjects can be replaced by courses in Machine Learning for Risk and Insurance.  Although not an IFoA exemption subject, machine learning is being increasingly applied by actuaries and is a growth area in the future.
Courses linked to IFoA subject code SP9 also gain you the internationally recognised Certified Enterprise Risk Actuary (CERA) qualification

Accreditation

Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) in the UK sets exams that must be passed to qualify as a Fellow of the IFoA and become fully qualified as an actuary.

Our MSc in Actuarial Science is fully accredited with the IFoA which means that the subjects you study on our program lead to exemptions from the corresponding subjects with the IFoA.

These are (with IFoA subject codes in brackets):

Actuarial Statistics (CS1)
Risk Modelling and Survival Analysis (CS2)
Actuarial Mathematics (CM1)
Financial Engineering and Loss Reserving (CM2)
Business Finance (CB1)
Business Economics (CB2)

These six exemptions put you well on your way to full qualification and demonstrate your actuarial ability to potential employers.

Centre of Actuarial Excellence

Heriot-Watt University is recognised as a Centre of Actuarial Excellence by the Society of Actuaries (SOA), North America. We were the first Centre of Actuarial Excellence in Europe and remain one of only two schools in Europe today with this designation. With roots dating back to 1889, the Society of Actuaries (SOA) is the world's largest actuarial professional organisation with more than 28,000 actuaries as members.

Read less

Program overview

Main Subject

Mathematics

Degree

MSc

Study Level

Masters

Study Mode

On Campus

Overview

Your journey spans two...
Read more

Overview

As an aspiring actuary, your expertise will find application in various sectors, including:

life insurance
general insurance
pensions
Investment
Banking

Your career prospects extend beyond these, encompassing roles in:

Fund Management Companies
Hedge Funds
Consultancies
Software Vendors
Regulatory Authorities.

Tailored for success as an Actuary

This programme has been uniquely designed to offer a blend of technical mastery, business acumen, and communication skills essential for a successful actuarial career.

Developed in collaboration with industry leaders, it ensures the acquisition of sought-after skills, setting you apart in interviews and excelling in real-world tasks.

Gain a competitive edge with an intensified focus on software tools like Excel and R, and experience enriched learning through 'value-added' components, emphasizing teamwork and communication.

Self-Taught Courses On Enrolment

On enrolment, you will gain access to the following self-taught courses that you can use (if you wish):

Introduction To R Programming
Introduction To Python Programming (For R Users)
Report Writing

In addition, enrolment at Heriot-Watt University gives you free access to LinkedIn Learning which contains thousands of online courses covering a wide range of subject areas.

Our expertise

Heriot-Watt University was the first Centre of Actuarial Excellence (as recognised by the society of actuaries (SOA) – North America) in Europe
Heriot-Watt University was the first in the UK to offer a degree in actuarial science.  We have been leading the way in the UK ever since and built a wonderful teaching team of world-renowned academics and experienced industry professionals. 
Each year we enable between 100 and 200 students to gain exemptions from actuarial subjects. 
We also understand that you need to be ready for the business world and able to interview well.  We develop these softer skills too, and develop your ethics, so you will become an excellent capable professional.

Customise your learning

In year one of the programme you study courses that correspond with exemptions from IFoA subject codes: CB1, CB2, CM1, CM2, CS1 and CS2.
In year two of the programme you study your choice of courses that correspond with exemptions from IFoA subject codes: CP1, CP2, CP3, SP2, SP4, SP5, SP6 and SP9.  Typically students choose courses linking to subjects CP1, CP2 and CP3 and also three of the "SP" subjects.  (However, only two "SP" subjects are actually required by the IFoA.)
Alternatively, in the second year, one of the "SP" subjects can be replaced by courses in Machine Learning for Risk and Insurance.  Although not an IFoA exemption subject, machine learning is being increasingly applied by actuaries and is a growth area in the future.
Courses linked to IFoA subject code SP9 also gain you the internationally recognised Certified Enterprise Risk Actuary (CERA) qualification

Accreditation

Institute and Faculty of Actuaries

The Institute and Faculty of Actuaries (IFoA) in the UK sets exams that must be passed to qualify as a Fellow of the IFoA and become fully qualified as an actuary.

Our MSc in Actuarial Science is fully accredited with the IFoA which means that the subjects you study on our program lead to exemptions from the corresponding subjects with the IFoA.

These are (with IFoA subject codes in brackets):

Actuarial Statistics (CS1)
Risk Modelling and Survival Analysis (CS2)
Actuarial Mathematics (CM1)
Financial Engineering and Loss Reserving (CM2)
Business Finance (CB1)
Business Economics (CB2)

These six exemptions put you well on your way to full qualification and demonstrate your actuarial ability to potential employers.

Centre of Actuarial Excellence

Read less

Admission Requirements

Program Duration

2 Years

Starting Month(s)

Sep

Tuition Fee and Scholarships

Domestic Students

Tuition Fee/year

10,528 GBP

Tuition Fee (Out of State)

International Students

Tuition Fee/year

19,816 GBP

Other Expenses

One of the important factors when considering a master's degree is the cost of study. Luckily, there are many options available to help students fund their master's programme. Download your copy of the Scholarship Guide to find out which scholarships from around the world could be available to you, and how to apply for them.

In this guide you will find:

Where to look for scholarship opportunities

How to apply to scholarships relevant to you

A list of available scholarships around the world

A scholarship application checklist

Download Scholarship Guide

QS subject rankings

2015
#251-300
2016
#251-300
2017
#251-300
2018
#201-250
2019
#201-250
2020
#201-250
2021
#201-250
2022
#151-200
2023
#201-250
2024
#151-200
2025
#201-250

Ranking criteria

Academic Reputation

57.9

Citations per Paper

79.1

Employer Reputation

61.1

H-index Citations

74.1

International Research Network

57.1

View all rankings data

Heriot-Watt University Edinburgh, Edinburgh, United Kingdom

# 201-250QS Subject Rankings

24 monthsProgram duration

19,816 GBPTuition Fee/year

YesScholarships

Program overview

Main Subject

Degree

Study Level

Study Mode

Program overview

Main Subject

Degree

Study Level

Study Mode

Admission Requirements

Important Dates

Tuition Fee and Scholarships

Tuition Fee

Domestic Students

International Students

Scholarships

In this guide you will find:

QS WUR Ranking By Subject

QS subject rankings

Subject: Mathematics

Ranking criteria

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