MBA Actuarial Science, also known as Master of Business Administration (Actuarial Science), is a postgraduate technical course taken by students. Students of actuarial science are taught how to use quantitative and statistical approaches to measure risk in the insurance and finance industries.
This program cultivates a level of understanding among students enrolled in the programme, so that they become experts in evaluating financial risks and forecasting them for the benefit of businesses.
The length of this course is two years, and the course syllabus is arranged accordingly.
This course is offered by the following institutions:
- Shankarlal Khandelwal College of Arts, Science, and Commerce
- Trichy’s Bishop Heber College
- Trichy’s Chidambaram Pillai College for Women
Graduates in Mathematical Sciences, Computer Science, Engineering, or Physics, as well as Commerce graduates with a minimum of 55 percent in Mathematics at the undergraduate level and a minimum of 85 percent in Mathematics at the 10+2 level, are required to take the course.
This course’s average tuition fee is between INR 10,000 and INR 2 lakhs. Actuarial analysts, Risk Analysts, Business Analysts, and other positions are available to graduates. The average starting salary is between INR 8 and INR 15 lakhs. Banks and insurance firms are among the top recruiters.
MBA Actuarial Science Course Overview
|Level OF Course||Masters|
|Type of Exam||Semester-Wise|
|Course Eligibility||Graduation in Mathematical Sciences, Computer Science, Engineering, Physics, or Commerce with a minimum of 55% marks.|
|Course Duration||2 years|
|Average Tuition Fees||INR 10,000-2 Lakhs|
|Average Salary||INR 8-15 Lakhs|
|Job Profiles||Actuarial Analysts, Risk Analysts, Business Analysts, etc.|
What is MBA Actuarial Science Course?
The program is a comprehensive classroom curriculum that is similar to The Actuarial Society of India and the Institute of Actuaries of the United Kingdom’s diploma, associate degree, and fellowship level exams. These two organisations are specialist examining bodies that administer exams in order to award Associate Membership to candidates who pass them.
MBA Actuarial Science offers students with the advantage of a classroom setting, which aids in their understanding of actuarial concepts.
This course is for individuals who are interested in mathematics, data analysis, and statistical analysis. The course is a comprehensive research in the field of actuarial sciences that prepares students to analyse an organization’s financial risks and provide better consulting services to the business.
The students are also taught how to communicate the company’s financial position in a way that all can understand. This course is ideal for those interested in gaining a thorough understanding of business management and pursuing a career in the private or public sector.
This course has a few prerequisites. The applicant must have excellent communication skills and be able to communicate clearly and efficiently. Students should have a basic understanding of computers as well. To approach the challenges they will face throughout their career, they must have a business sense and a practical perspective.
Since the course is lengthy and requires serious effort and a concentrated approach to achieve the best possible results, any applicant who believes he or she meets these requirements should apply.
MBA Actuarial Science Course Duration
MBA Actuarial Science takes two years to complete and is divided into four semesters, much like the other MBA classes.
MBA Actuarial Science: Eligibility
To enrol in this course, you must meet the following requirements:
- The individual must have completed a bachelor’s degree in Mathematics, Computer Science, Engineering, Physics, or Commerce.
- In addition, the candidate must have received a minimum of 55 percent in mathematics.
- Aside from that, some institutes need a minimum of 85 percent in mathematics at the school level.
MBA Actuarial Science: Top Institutes
- Shankarlal Khandelwal Arts, Science and Commerce College
- DAES College, Mumbai
- Chidambaram Pillai College for Women, Trichy
- Bishop Heber College, Trichy
- Department of Statistics, University of Mumbai
- Department of Statistics, Dibrugarh University
- School of Mathematical Sciences, North Maharashtra University
MBA Actuarial Science: Career Prospects
Because MBA is such a broad field, those who complete it will have a lot of job opportunities. MBA Actuarial Science can lead to positions such as:
- Actuarial Consultant
- Actuarial Analyst
- Business Analyst
- Risk Analyst
- Quantitative Ananlyst
MBA Actuarial Science: Admission Process
The MBA Actuarial Science admissions process is relatively easy. The majority of institutes admit students based on their performance in common entrance exams or entrance exams administered by the institutes independently. The following are some of the most popular entrance exams: