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Open for Clearing 2024

BSc (Hons) Actuarial Science and Diploma in Industrial Training

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.

 

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

Introduction to Statistical Science; Calculus; Introduction to University Mathematics; Professional Development Planning; Finance; Economics and practical work.

Mandatory September

  • Calculus A
  • Introduction to University Mathematics
  • Topics in Statistical Practice

Optional September

  • Introductory Economics

Mandatory January

  • Calculus B
  • Professional Development Planning
  • Elements of Probability

Optional January

  • Finance and Financial Reporting

Programme Video

Actuarial Mathematics & Statistics at Heriot-Watt

Fees and funding

StatusFee
ScotlandPaid by SAAS
England / Wales / N Ireland / Rep of Ireland£9,250
International£24,048
  • 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).

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)
View details

Entry requirements

We have standard entry requirements for all of our courses that you will have to meet.

Standard entry requirements

  • Highers AAAB including Mathematics at A
  • A-Levels AAB - AAA including Mathematics at B
  • Int. Baccalaureate 28 points with higher level Mathematics at 6
  • BTEC DDD including sufficient Mathematics

Minimum entry requirements*

  • Highers ABBC including Mathematics at A
  • A-Levels ABC including Mathematics at A

* Minimum: under our Fair Access Policy, we will relax our standard entry requirements for some Scottish 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
  • 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

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

Work and study

This is what our BSc (Hons) Actuarial Science and Diploma in Industrial Training students are doing 15 months after graduating:
70%
are working
5%
are studying
15%
are studying and working

Salary

£28000
The average salary of students 15 months after graduating
£28000
The average UK salary of students 15 months after graduating from a similar course

Potential career paths

  • Information Technology Professionals
  • Business, Research and Administrative Professionals
  • Finance Professionals
  • Teaching Professionals
  • Business and public service associate professionals

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