MSc Actuarial Science

Postgraduate Entry Requirements:

• Applicants should have successfully completed a bachelor's degree or its equivalent from a recognized institution with a minimum overall score of  50 to 55% or equivalent.
• English language proficiency is required, and applicants must provide evidence of their English language skills through an approved language test.
  • IELTS: A minimum overall score of 6.5 with no individual component below 6.0.
  • TOEFL: A minimum overall score of 90.
  • PTE Academic: A minimum overall score of 62 with no individual score below 51.
• Some postgraduate programs may have specific subject prerequisites or additional requirements.

Students must provide:

• academic marksheets & transcripts
• letters of recommendation
• a personal statement - SOP
• passport
• other supporting documents as required by the university.

Work experience: Some postgraduate courses may require relevant work experience in the field.

It is important to note that entry requirements may vary across different programs and courses. Additionally, meeting the minimum entry requirements does not guarantee admission, as the university considers factors such as the number of available places and competition for certain courses.

The University of Essex offers a range of scholarships and financial support options to assist students in their academic journey. These scholarships are designed to recognize and reward academic excellence, promote diversity and inclusion, and provide assistance to those facing financial challenges.  

1. Academic Excellence Scholarships: The university offers scholarships to outstanding students who demonstrate exceptional academic achievements. These scholarships are typically merit-based and provide financial support towards tuition fees or living expenses.
2. International Scholarships: The University of Essex provides scholarships specifically designed for international students. These scholarships aim to attract and support talented students from around the world. Eligibility criteria and award amounts may vary, and they may cover a portion of tuition fees or provide assistance with living expenses.
3. Subject-specific Scholarships: Some departments and schools within the university offer scholarships tailored to specific academic disciplines. These scholarships are often awarded to students with exceptional academic records or those who demonstrate a strong commitment to their field of study.
4. Access and Participation Scholarships: The university is committed to promoting diversity and inclusion. It offers scholarships and financial support to students from underrepresented backgrounds, including those from low-income families or individuals who are the first in their family to attend university.
5. Government-funded Scholarships: In addition to internal scholarships, the University of Essex provides information and guidance on scholarships and funding opportunities offered by external organizations and government agencies. These scholarships may be available to students based on factors such as nationality, field of study, or research interests.
6. Sports Scholarships: The university recognizes the importance of sports and offers scholarships to talented athletes who demonstrate exceptional sporting abilities. These scholarships provide financial support along with access to sports facilities, training programs, and dedicated support services.

It is important to note that scholarship availability, eligibility criteria, and application processes may change over time. 

Graduates of the MSc Actuarial Science program have excellent career prospects in the field of actuarial science and related industries. 

1. Actuarial Firms: Graduates can work in actuarial firms, providing consulting services to insurance companies, pension funds, or financial institutions. They may be involved in pricing insurance policies, analyzing financial risks, assessing reserves, or developing risk management strategies.

2. Insurance Companies: Graduates can work in insurance companies, contributing to risk assessment, underwriting, product development, or financial modeling. They can work in areas such as life insurance, general insurance, health insurance, or reinsurance.

3. Financial Institutions: Graduates can work in financial institutions, such as banks, investment firms, or asset management companies, where they apply their actuarial skills to assess financial risks, develop investment strategies, or analyze portfolio performance.

4. Risk Management: Graduates can pursue careers in risk management departments of various organizations, including corporate risk management or enterprise risk management. They can contribute to identifying, assessing, and managing risks across different sectors.

5. Government and Regulatory Agencies: Graduates can work in government agencies or regulatory bodies that oversee the insurance and financial industries. They can be involved in policy development, risk assessment, compliance, or actuarial analysis to ensure industry regulations are met.

6. Pension Funds and Employee Benefits: Graduates can work in pension funds or employee benefits departments, where they analyze pension liabilities, assess funding levels, and provide actuarial advice on retirement benefits and employee compensation packages.

7. Data Analytics and Big Data: Graduates can leverage their analytical skills to work in the field of data analytics and big data. They can apply actuarial techniques to analyze large datasets, develop predictive models, or contribute to data-driven decision-making in various industries.

8. Further Academic Pursuits: Graduates can pursue further academic studies, such as a Ph.D. in Actuarial Science or related fields, and contribute to actuarial research, teaching, or academic positions.