Actuarial Science
“The work of science is to substitute facts for appearances, and demonstrations for impressions.” – John Ruskin
Do you have an aptitude for Mathematics; acquire strong analytical and numerical abilities? Are you keen in developing your communication skills? Interested in learning more on the subject of finance, risk management or insurance? If so, the field of Actuarial Science might be perfect for you.
What is Actuarial Science?
Actuarial Science is the discipline that utilises mathematical and statistical methods to evaluate risk in finance, insurance and other industries and professions. It incorporates a number of interrelated subjects such as mathematics, economics, statistics, finance, probability theory and computer science. With the rapid spread and increase of high speed computers and the tie-up of stochastic actuarial models with modern financial theory, the field of Actuarial Science has seen revolutionary changes over the past 30 years.
Graduates in Actuarial Science work as professionals in managing risk and assist organisations in planning for the future and protecting themselves from losses. Actuaries apply technical and mathematical findings to real-world issues. By understanding the very nature of risk, actuaries play an important role in the psychological, physical and financial stability of society. Actuaries are taught to assess the likelihood of future events using numbers and design creative ways to reduce the likelihood or impact of undesirable events. Traditionally, actuaries specialised in health, casualty, life and property insurance. However, these skills are transferable to any industry that requires risk modelling and management. Other than the financial sector, Actuarial Science graduates may also choose to work in the transportation, energy or even environment sector.
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Actuary is consistently rated as one of the best jobs, especially in the US. A career in Actuary is both attractive and difficult to beat in almost every category such as Employment Outlook, Growth Opportunity, Job Security, Salary and Work Environment. For instance, reports from US News and World Report places Actuaries as the 4th Best Business Jobs and 6th Best STEM (Science, Technology, Engineering & Math) Jobs. Actuaries have been ranked the 10th Best Job in the US out of 200 jobs, as according to CareerCast.com (2016). With the growing availability of healthcare and changes to insurance regulation, there has been an increasing demand for actuaries.
Pursue Your Dream In Becoming in the field of Actuarial Science
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Actuarial Science Universities
There are numerous institutions you could choose from that offers outstanding Actuarial Science courses in the world. Top UK universities include University of Kent, Heriot-Watt University, University of Surrey, University of East Anglia, University of Southampton, The University of Manchester, University of York and University of Leicester.
In Australia, the Australian National University offers an excellent accredited course in Actuarial Science. Ranked 20th in the world [QS World University Rankings by Subject 2017 – Social Sciences and Management], ANU was also awarded 5 QS Stars, rated for excellence. In addition, some of our partnered US universities too offer well-recognised Actuarial Science degree such as Oklahoma City University, Roosevelt University, Northern Arizona University, and LIU Post.
So pursue your higher education in the field of Actuarial Science and kick-start your career in the lucrative industry. For more details on Entry Requirements & Application Procedures, drop us an email at info@gstudyabroad.com or fill in the enquiry form below. Global Study Abroad is the only Education Agency that offers students with bursaries! For more information on Bursaries, click here. For more information on Scholarships, click here. Study Abroad, Think Global!
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