Key information
- UCAS code
- 5G5B
- Level
- Undergraduate
- Delivery type
- Full Time
- Degree qualification
- BSc (Hons)
- Mode of delivery
- On-Campus
- Duration
- 5 years
- Location
- Edinburgh
- Start date
- September
If you love maths and want to accelerate your Actuarial career with a year's work experience in hand, this is the programme for you. It combines the rigorous studies of the BSc Actuarial Science with a year-long work placement in your fourth year.
Actuarial work is seen as one of the most satisfying careers in the UK, owing to its intellectually stimulating nature, lucrative pay, schedule flexibility, and excellent job prospects. Actuaries enjoy applying their advanced quantitative skills to solve complex business problems involving risk analysis, in traditional areas of insurance and pensions and as well as exciting new opportunities such as health, technology, banking, finance and climate change.
With 30% of our lecturers being qualified actuaries, you'll gain up-to-the-minute industry knowledge and skills applicable to the real working world and current economic climate. The work placement then gives you experience of working in an organisation such as a life insurance company, a pension consultancy, an investment management firm or a bank.
The Diploma in Industrial Training is gained through successful completion of this work placement. You will develop real world knowledge, giving you the opportunity to apply and build upon the theory you learn in your studies. It allows you to take on real responsibilities, enhance your interpersonal skills through teamwork and communication, and experience workplace culture.
The Diploma is available to all students, including those from overseas, as it does not require a work visa. If you are planning to come to the UK using a student visa you should check the Tier 4 Student Visa Policy Guidance to confirm you are permitted to undertake a work placement as part of your studies. With support from the HW Career’s Service, you will be responsible to find a suitable work placement; acceptance onto the course does not guarantee you a placement. If you are registered on the course and are unable to find a suitable work placement before the end of level 3 then you can transfer to the standard BSc Actuarial Science degree. Organisations recently involved with the placement programme include Deloitte, Allianz, Royal London, Athora, Aon and XPS Group.
Our programmes are designed with flexibility in mind, so if you fancy a change of direction you can transfer to a range of other mathematical, statistical or actuarial programmes during the first two years.
Subject Video
Find out what it’s like to be an actuarial student at Heriot-Watt University with our subject video
Your student experience
- Heriot-Watt is a 'Center of Actuarial Excellence'
- Our distinguished programme is taught by qualified actuaries with industry experience and high-flying researchers. Alongside this experience comes invaluable connections to industry,
- 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 and kick-start their actuarial careers.
- In the recent Research Excellence Framework (REF2021), we ranked first in Scotland for Mathematical Sciences research. This underscores our commitment to excellence in applied mathematics fields like optimization, computation, statistics, and analysis that drive innovation across industries.
- 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.
Go Global
There are currently no Go Global opportunities for this particular programme. However, other Go Global opportunities may be available. Please contact studywithus@hw.ac.uk for more information.
Course content
September Intake - Edinburgh
Year 1
Mandatory September
- Calculus A
- Elements of Probability
Optional September
- Introduction to University Mathematics
- Logic and Proof
Mandatory January
- Calculus B
- Topics in Statistical Practice
- Becoming a Professional
Optional January
- Discrete Mathematics
- Problem Solving
Year 2
Mandatory September
- Real Analysis
- Linear Algebra
- Algorithmic and Scientific Programming
- Probability and Statistics A
Mandatory January
- Multivariable Calculus
- Actuarial and Financial Mathematics
- Data Science Life Cycle
- Probability and Statistics B
Year 3
Mandatory September
- Life Insurance Mathematics A
- Statistical Models A
- Stochastic Processes
Optional September
- Vector Analysis
- Further Statistical Methods
- Economics for professionals
Mandatory January
- Life Insurance Mathematics B
- Statistical Models B
- Survival Models
Optional January
- Ordinary Differential Equations
- Database Management Systems
- Financial Reporting and Finance
Year 4
12 month work placement.
Mandatory September
- Industrial Training Placement A
Mandatory January
- Industrial Training Placement B
Year 5
Mandatory September
- Time Series and Machine Learning
Optional September
- Pensions
- Optimisation
- International Bond and Currency Markets
Mandatory January
- Risk Theory
- Financial Derivatives
Optional January
- Bayesian Inference & Computational Methods
- Advanced Machine Learning
- Taxation (Tax Law)
- Climate Change and Sustainability
Programme Video
Actuarial Mathematics & Statistics at Heriot-Watt
Student testimonials
Lauren McKie
BSc (Hons) Actuarial Science graduate
The programme provided me with a strong foundational knowledge and gaining exemptions from the IFoA exams felt like such a weight off my shoulders and has helped me through my graduate role.
Fees and funding
| Status | Fee |
|---|---|
| Scotland | Paid by SAAS |
| England / Wales / N Ireland / Rep of Ireland | £9,535 |
| International | £25,008 |
- Status: Your residency status is usually defined as the country where you have been ordinarily resident for the three years before the start of your course.
- International: 'International' includes applicants from European Union countries who do not hold Pre-Settled or Settled status in UK. (This does not include students from the Republic of Ireland - see above).
Additional information
Placement Year fees
Students should note that the standard fee does not apply for the Diploma in Industrial Training/work placement year (Year 4). Instead a fee of £3,000 is charged for the year spent on placement.
Scholarships and bursaries
Bursaries for students from England, Northern Ireland or Wales
In addition to government loans and grants towards the costs of fees and living costs, we are offering generous financial support to attract and support eligible undergraduate students from England, Northern Ireland or Wales:
- Heriot-Watt University Bursary (up to £3,100 per year)
Entry requirements
We have standard entry requirements for all of our courses that you will have to meet.
Year 1
Standard entry requirements
- Highers AAAB (over two sittings). Must include Maths achieved at A.
- A-Levels AAB - AAA. Must include Maths achieved at A.
- International Baccalaureate 28 points. Must include Maths achieved at Higher Level 6.
- BTEC Extended Diploma DDD. Must be in a relevant subject and contain sufficient Maths.
- HNC B in graded unit. Must be in a relevant subject and contain sufficient Maths at SCQF Level 6.
- HND BB in graded units. Must be in a relevant subject and contain sufficient Maths at SCQF Level 6.
Please check that you meet our University-wide National 5/GCSE (or equivalent) English and Maths requirements.
Minimum entry requirements *
- Highers ABBC (over two sittings). Must include Maths achieved at A.
- A-Levels ABC. Must include Maths achieved at A.
- International Baccalaureate 28 points. Must include Maths achieved at Higher Level 6.
- BTEC Extended Diploma DDD. Must be in a relevant subject and contain sufficient Maths.
- HNC B in graded unit. Must be in a relevant subject and contain sufficient Maths at SCQF Level 6.
- HND BB in graded units. Must be in a relevant subject and contain sufficient Maths at SCQF Level 6.
* Minimum: under our Fair Access Policy, we will relax our standard entry requirements for some Scottish and Rest of UK status students depending on their circumstances. Our minimum requirements will apply if you:
- live in an area within the Scottish Index of Multiple Deprivation lowest 20% (SIMD20) or POLAR4 Quintile 1 regions (RUK)
- or are care experienced.
We can also make exceptions for some Scottish students with grades above minimum but below standard. Read more about our Minimum and standard entry requirements.
Year 2
- Advanced Highers AAB including Maths at A, plus Higher AAAB.
- A-Levels AAA. Must include Maths at A.
- International Baccalaureate 30 points. Must include Maths at Higher Level 7.
- BTEC Extended Diploma DDD. Must be in relevant subject, including sufficient Maths.
- HNC not available
- HND not available.
- Global College: Successful completion of our Science with Accelerator Programme
Additional information
- For all years, applications are welcomed from holders of non-school qualifications, mature candidates and overseas students.
- If you do not see your qualifications here please contact us at studywithus@hw.ac.uk
- For applicants studying HNC, HND or BTEC qualifications, when submitting your application please ensure you list in full all the units you are currently studying, as specific units (e.g. in Maths) may be required.
English language requirements
If your first language is not English, we'll need to see evidence of your English language ability.
The minimum English language requirement for entry to this programme is IELTS 6.5 (or equivalent) with no score lower than 6.0.
If you do not have IELTS 6.5, we offer a range of English language courses to help you meet the English language requirement for this programme prior to commencing your studies.
Please see our detailed English language requirements.
Why Heriot-Watt
We're the top university in Scotland for graduate outcomes which means that more of our graduates are employed or in postgraduate education than any other institution in the country and we ranked 5th in the UK.
We're also rated number one in the UK for CEO or MD roles, meaning more of our graduates go on to become CEOs or MDs than any other university in the whole of the UK. On top of that, we have beautiful campuses, across the globe, so you'll get a truly international education. Our Edinburgh Campus is home to Oriam, Scotland's National Sports Performance Centre combined with plenty of wellbeing resources, prioritising fitness and mental health for all students. Our Global Research Institutes look at solving real world issues such as climate change and saving our oceans as well as working on the next medical technological breakthrough and the future of AI and robots.
Employability
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Potential career paths
- Business, Research and Administrative Professionals
- Business and public service associate professionals
- Finance Professionals
- Information Technology Professionals
- Teaching Professionals
Student life
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