Bachelor of Mathematics in Acturial Science (Optional Co-op)

Application Fees : CAD$ 251

Undergraduate Entry Requirements:

1. Academic Achievement: International students applying for undergraduate programs at the University of Waterloo are expected to have a minimum academic achievement of 80% or above in their secondary school studies.  

2. English Language Proficiency: The accepted English language tests and their minimum score requirements are as follows:

   • IELTS: Overall score of 6.5 with no band less than 6.5 in writing, 6.0 in reading, 6.0 in listening, and 6.5 in speaking.
   • TOEFL: Minimum score of 90 on the Internet-based Test (iBT).
   • PTE: Minimum score of 63.
   • DET (Duolingo English Test): Minimum score of 120.

It is important to note that meeting the minimum entry requirements does not guarantee admission to the University of Waterloo. The university receives a large number of applications and admission decisions are based on a holistic assessment of various factors, including academic performance, test scores, personal statements, and letters of recommendation.

The University of Waterloo offers several scholarships and financial aid options to support international students in their academic journey. These scholarships recognize academic excellence, leadership potential, and contributions to the community. 

1. International Master's Award of Excellence: This scholarship is available to international students entering a research-based master's program. It provides funding of up to $2,500 per term for a maximum of five terms.

2. Ontario Graduate Scholarship (OGS): The OGS is a merit-based scholarship available to domestic and international students pursuing a graduate degree at the University of Waterloo. The scholarship provides funding of up to $15,000 per year for a maximum of two or three years, depending on the program.

3. President's Scholarship of Distinction: This prestigious scholarship is awarded to top international students entering an undergraduate program at the University of Waterloo. The scholarship covers full tuition for up to four years of study.

4. International Student Entrance Scholarships: These scholarships are available to high-achieving international students applying for undergraduate programs. The value of the scholarships varies and is renewable for up to four years, based on academic performance.

5. Faculty-specific Scholarships: Various faculties at the University of Waterloo offer scholarships specifically for international students. These scholarships are based on academic achievement, leadership potential, and involvement in extracurricular activities within the respective faculty.

6. Donor-funded Scholarships: The university receives generous contributions from donors, which are used to establish scholarships for international students. These scholarships may have specific eligibility criteria and application processes.

It is important to note that the availability, eligibility criteria, and application deadlines for scholarships may vary. To apply for scholarships, international students are typically required to submit an application for admission to the university. Some scholarships may have additional application requirements, such as essays or reference letters. It is important to carefully review the scholarship information and follow the application instructions provided.

Graduating from the Bachelor of Mathematics in Actuarial Science (Optional Co-op) program at the University of Waterloo opens up a multitude of career opportunities in the dynamic fields of insurance, finance, risk management, and consulting. Graduates of the Bachelor of Mathematics in Actuarial Science (Optional Co-op) program from the University of Waterloo are in high demand across various industries for their strong analytical skills, mathematical expertise, and ability to manage risk effectively. With professional accreditation and practical experience gained through co-op placements, graduates are well-equipped to excel in rewarding and challenging careers in the global marketplace.

1. Actuarial Analyst: Many graduates pursue roles as actuarial analysts in insurance companies, where they use mathematical models to analyze data, assess risk, and price insurance products. They may specialize in life insurance, property and casualty insurance, health insurance, or pension plans.

2. Risk Management Consultant: Graduates may work as risk management consultants, advising organizations on how to identify, assess, and mitigate various risks. They may help companies develop risk management strategies, design insurance programs, and optimize financial processes.

3. Financial Analyst: With their strong quantitative skills and understanding of financial markets, graduates may work as financial analysts in investment firms, banks, or corporate finance departments. They analyze financial data, evaluate investment opportunities, and make recommendations to clients or management.

4. Data Scientist: Actuarial science involves analyzing large datasets to make predictions and inform decision-making. Graduates with strong analytical and programming skills may pursue careers as data scientists, applying advanced statistical techniques and machine learning algorithms to extract insights from data.

5. Pension Consultant: Actuarial science has applications in pension plan design, funding, and management. Graduates may work as pension consultants, helping employers design retirement plans, assess funding requirements, and manage pension assets to ensure financial sustainability.

6. Insurance Underwriter: Graduates may pursue careers as insurance underwriters, responsible for evaluating insurance applications, determining coverage levels, and setting premiums based on risk assessments. They analyze factors such as age, health, and occupation to assess insurance risk.

7. Actuarial Consultant: Many graduates choose to work in actuarial consulting firms, where they provide advisory services to clients in various industries. They may work on projects such as financial modeling, risk assessment, mergers and acquisitions, or regulatory compliance.

8. Government Actuary: Government agencies, regulatory bodies, and public sector organizations employ actuaries to analyze demographic trends, assess social security programs, and develop public policy related to insurance and pensions.

9. Academic Researcher: Some graduates may pursue further studies and research in actuarial science, mathematics, or related fields. They may work in academia, conducting research, teaching, and contributing to the advancement of actuarial knowledge.