What is the scope of actuarial science? What are the sources of income after completing this course?
I have completed third year in B.Com (accounting and finance) with distinction.
Asked by virendra shah
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Answered by
Adv. Ved Vinayak Law educator at Lex Logic You Tube channel. | Contributor-Level 9
2 years agoMy dear candidate, Actuaries are mostly employed by insurance and reinsurance firms. They can also pursue academic endeavours while working as consultants for businesses, banking, financial consulting firms, actuarial consulting firms, the government sector, pension funds, and investment advises. PwC Actuarial Services India, Max Bupa Insurance, Milliman, IDBI, and many more leading businesses recruit actuaries. Actuaries are in charge of determining the risks associated with the distribution of money, resources, and new policies. Depending on experience and competence, an actuary in India might make anywhere between 4 and 20 lacs annu...more -
Dear aspirant, Actuaries mostly work in Insurance and Reinsurance companies. They also work as consultants for companies, banking, financial consulting firms, Actuarial consulting firms, the government sector, pension funds, investment advisories and can pursue academics as well. Some of the top companies that hire Actuaries are PwC Actuarial Services India, Max Bupa Insurance, Milliman, IDBI and many more. Actuaries take the responsibility of assessing risks involved in new policies, capital, and resources allocation. An Actuary in India earns anywhere between 4 Lacs and 20 Lacs per year depending upon the level of experience and expe...more -
Hi, Careers in the actuarial field include:
1. Actuary
2. Risk analyst or consultant
3. Insurance underwriter
4. In addition to the specialised careers listed above, Actuarial Science students graduate with statistics and financial mathematics expertise that can lead to career opportunities in the following fields:
-Finance
-Management
-Statistician (in any of the diverse fields where statisticians are employed, ranging from marketing to pharmacology to engineering)
-Education. -
Scope is wide. At entry level, income could be up to Rs 5 lacs per annum. After gaining experience of five to six years, you can earn upto Rs 15 lacs - Rs 20 lacs per annum. Immediately after becoming a fellow of IAI, one can earn anything from Rs 20 lacs to Rs 30 lacs per annum. I am enlisting a few good colleges, which are known for their quality education and better placements. BS Abdur Rahman University, Chennai.
International School of Actuarial Sciences (ISAS), Hyderabad
Institute of Actuaries of India, Mumbai
Bishop Heber College - Tiruchirappalli
B.Sc. (Actuarial Mathematics Science)
MS. Actuarial Science
P. G. Diploma (Actuarial Sci...more -
Hi Virendra,
Actuarial science is a course that concentrates on the mathematical and statistical analysis of risk, and their applications to insurance and other business management problems.
A number of universities offer UG and PG courses in actuarial sciences. Any one above 18 years of age with proficiency in mathematics and statistics can take up the course and become an Actuary. The candidate must pass 10+2 or equivalent
Admission will be on the basis of the merit scored in the institute’s entrance exam. Actuarial Science Entrance Exam Admission IGNOU and Institute of Actuaries of India - May Examination are some of the entranc...more
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