Actuarial Science Heriot-Watt University

Overview

Salaries are typically high and the work-life balance excellent. A newly qualified actuary in the UK usually earns between £50,000 and £60,000 each year, with salaries increasing significantly post-certification. Our MSc takes you through the first six actuarial exams with the Institute and Faculty of Actuaries (IFoA) in the UK, accelerating your journey to becoming an actuarial professional. These examinations enhance your expertise in statistical and financial modelling. 

Our Actuarial Transformation: Introducing an innovative curriculum for 2024. 

We are thrilled to announce an exciting curriculum update set to launch in the academic year 2024-25 for our MSc Actuarial Science program at Heriot-Watt University.  This comprehensive overhaul offers you a well-rounded approach to actuarial education, going well beyond academic theory to equip you with the practical skills and business awareness sought after by employers, allowing you to hit the ground running on day one of your actuarial career. 

Tailored for success as an Actuary 

This programme has been uniquely designed to offer a blend of technical mastery, business acumen, and communication skills essential for a successful actuarial career. Developed in collaboration with industry leaders, it ensures the acquisition of sought-after skills, setting you apart in interviews and excelling in real-world tasks. Gain a competitive edge with an intensified focus on software tools like Excel and R, and experience enriched learning through 'value-added' components, emphasizing teamwork and communication. 

Self-Taught Courses On Enrolment 

On enrolment, you will gain access to the following self-taught courses that you can use (if you wish): 

• Introduction To R Programming 
• Introduction To Python Programming (For R Users) 
• Report Writing 

In addition, enrolment at Heriot-Watt University gives you free access to LinkedIn Learning which contains thousands of online courses covering a wide range of subject areas. 

Why choose Edinburgh? 

Edinburgh is a wonderful city close to the sea in Scotland in the United Kingdom. Heriot-Watt Edinburgh campus is established just to the west of the city in a beautiful green space. Transport links into the city centre are regular and travel by bus takes thirty minutes – and so you can choose the mix of city and campus life that you like best.  

Edinburgh is the financial heart of Scotland and many such companies are based there. It is also a centre of arts and culture, with the famous Edinburgh International Festival taking place in August each year. 

Your Student Experience

Our Expertise

•  Heriot-Watt is a Society of Actuaries (SoA) Centre of Actuarial Excellence 
• Our distinguished programme is taught by qualified actuaries with industry experience and high-flying researchers 
• 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.   
• 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. 

Your Learning Environment

 Students' Actuarial Society

We are very proud of our award-winning Students' Actuarial Society which is entirely managed, enthusiastically and professionally, by our students. As well as arranging a series of topical presentations by industry professionals, and popular social events, the Society's highly anticipated Annual Actuarial Conference attracts speakers and attendees from around the world.

Watch a video: http://www.youtube.com/user/HWActuarial?blend=3&ob=5#p/a

Visit our YouTube channel to see videos from our students and graduates, as well as an example of a lecture in Life Insurance Mathematics.

Employability

Our Actuarial Mathematics and Statistics graduates have gone on to have incredibly successful careers. Our alumni include 26 CEO's, 5 past presidents of professional actuarial associations, C-suite executives and partners of consultancies, and several founders. Career prospects and salaries are excellent for graduates of our specialist actuarial science programmes – 93% of recent graduates have secured employment or gone onto further study within six months of graduating. Of those employed, 96% are in professional-level jobs. Recent students have gone on to work for industry-leading organisations including: Standard Life Aberdeen, Lloyds Banking Group, Deloitte, KPMG, PwC, Prudential, Royal London and many more

Average salary of graduates: £29,425 

Percentage working 15 months after graduating: 72%

Percentage studying 15 months after graduating: 15%

Accreditation

Fully accredited programme with the Institute and Faculty of Actuaries (IFoA) in the UK for subjects: CM1, CS1, CM2, CS2, CB1 & CB2.

HWU is recognised as a Center of Actuarial Excellence by the Society of Actuaries (SOA), North America. We were the first Center of Actuarial Excellence in Europe and one of only 30 other schools worldwide with this designation.