MSc Actuarial Science

Overview

Actuaries are members of a prestigious profession, known for its challenging entry requirements and impactful work. Our MSc in Actuarial Science provides you with a fast track into the profession by providing up to six exemptions from the exams you must pass to become a fully qualified actuary.

Actuaries are experts in risk management. Most actuaries work in the areas of life insurance, general insurance, pensions, and investment, but also more widely in fund management companies, sustainability, banking, hedge funds, consultancies, software developers and regulatory authorities. As experts in data science, actuaries are increasingly in demand across the world.

The actuarial career is also fun because you can apply your mathematical skills to solve problems and plan for the future.

Salaries are typically high and the work-life balance can be excellent. A newly qualified actuary in the UK usually earns between £50,000 and £60,000 each year. Salaries increase to significantly higher levels in the years after qualification.

Our MSc in Actuarial Science takes you through the first six exams with the Institute and Faculty of Actuaries (IFoA) in the UK and so accelerates your journey to becoming an actuarial professional. The exams are mathematical in nature and develop your skills in applying statistical and financial models to plan for the future.

Our MSc programme is distinguished by our University's 50+ years at the heart of the actuarial profession, by being delivered by qualified actuaries with industry experience along with high-flying actuarial researchers, by our high student satisfaction and by our location in Edinburgh, one of the world's most beautiful cities.

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.

Heriot-Watt University

Heriot-Watt University was the first in the UK to offer a degree in actuarial science (back in 1972). 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, so you will become a rounded professional.

Heriot-Watt is the first university in Europe to be awarded the Centre of Actuarial Excellence by the Society of Actuaries (SOA) of North America.

We score excellently in student surveys of teaching quality and our research output is world class.

Student Actuarial Society

Heriot-Watt has a very active Students' Actuarial Society which won several awards at a recent Heriot-Watt "Oscars" ceremony. This society is completely managed, enthusiastically and professionally, by our students.

September 2024 entry

The deadline for applications from UK students is 30 August 2024. For EU and overseas applicants, we guarantee to consider applications submitted by 2 August 2024.