Studying actuarial science in the United Kingdom will teach you how to apply mathematical skills to assess risks and resolve issues and problems for industries such as the insurance and finance industry. With the knowledge you gain from this degree, you can work in places such as banking, corporate finance, investment management, life, healthcare, general insurance, and pensions.
Studying actuarial science in the United Kingdom can be highly competitive. Most universities have strict requirements for screening aspiring students. Therefore, you need to know and prepare the requirements which will enable you to gain admission to study actuarial science in the United Kingdom.
In this piece, I will walk you through the requirements needed to study actuarial science in the United Kingdom.
Requirements for Studying Actuarial Science in the United Kingdom
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A-level Certificate
An A-level certificate is one of the qualifications that can be used to apply for a bachelor’s degree in actuarial science in the UK. However, you must have good grades in your A-level examinations. Therefore, you are required to have grades such as A and B in subjects such as Mathematics, Accounting, English Language.
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BTECH
You can use BTECH as an alternative for A-level in some universities. Therefore, BTECH qualifications in areas such as business, engineering or science can be considered.
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International Baccalaureate Diploma
This requirement is specifically for international students. You must have a minimum of 34-36 points in total to meet the requirement for using the IB Diploma. Additionally, you must have studied mathematics at a higher level.
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UCAS Tariff Point
You need to have a minimum of 160 to 180 in your UCAS points.
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English Language Requirements
You will be required to write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. You can use English tests such as IELTS or TOEFL. The minimum score for IELTS is 6.5 with no sub-band lower than 6.0. Additionally, the minimum score for TOEFL is 93. However, the test and test score can vary depending on your country and the university you are applying to.
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Have Reference Letters
You must submit at least two reference letters during your application. This reference letter should be from a teacher or an employer. Therefore, reference letters from friends or family will be rejected.
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Personal Statement
Some schools in the UK may require you to write a personal statement. This is an essay that explains why you want to study actuarial science in the UK and your career plans. Additionally, you should check the school’s website to know the amount of words that you need to write in your personal statement.
Requirements to Obtain a Masters in Actuarial Science in the United Kingdom
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Have a Bachelor’s Degree
You must have a bachelor’s degree in disciplines such as Accounting, business, Finance or a related field. Additionally, you must have a minimum of 2:2 to apply for a master’s degree in the United Kingdom.
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English Language Entry Requirement
You will be required to write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. The minimum score for the IELTS is 7.0 with no sub-band lower than 6.5.
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GMAT Score
This is not a compulsory requirement for most schools in the UK. However, this can give you a higher advantage over other applicants. Therefore, you can have a GMAT score of 650 or above.
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Letters of Recommendation
You must submit at least three recommendation letters during your application. These letters must be gotten from an employer or a previous lecturer. Therefore, recommendation letters from a friend or family will be rejected. You should have two academic recommendation letters and 1 professional recommendation letter.
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Write a Statement of Purpose
You must write a statement of purpose explaining your qualifications, your future plans as well as the reason why you are choosing to study actuarial in the United Kingdom. Additionally, this essay must be 500-words or 1-2 pages long. This can vary depending on the university’s requirements.
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Resume/CV
You need to submit an updated resume or curriculum vitae showcasing your work experience and educational qualifications.
How to Apply
You can apply to study actuarial science in the United Kingdom through the university’s website. Additionally, you need to go through the school’s website and verify the requirements needed by your school of interest. You can apply for the undergraduate program as well as the postgraduate degree.
Duration
The duration for studying actuarial science in the United Kingdom can vary based on the program of your choice and the University. The Undergraduate program that will offer a bachelor’s degree lasts for a minimum of 3-4 years of full-time study. However, a postgraduate program that will offer a master’s degree takes 9 months to 2 years for a full-time and part-time study.
Tuition Fee
The tuition fee for studying actuarial science in the United Kingdom varies based on each University and the program. The average tuition fee for the bachelor’s program is £18,525 -£40,079 annually. Additionally, the average tuition fee for a master’s program is £16,000-£28,900. However, international students will be required to pay higher than this for both programs.
Universities in the United Kingdom that offer Actuarial Science
- London School of Economics and Political Science, England
- University of York, England
- University of Oxford, England
- London Business School, England
- City, University of London, England
- University College London, England
- University of Cambridge, England
- University of Edinburgh, Scotland
- Imperial College London, England
- University of Manchester, England
- University of Sheffield, England
- University of Nottingham, England
- University of Warwick, England
- University of Southampton, England
- University of Reading, England
- Newcastle University, England
- University of Aberdeen, Scotland
- University of Bristol, England
- University of Strathclyde, Scotland
- Lancaster University, England
- University of Leeds, England
- King’s College London, England
- Heriot-Watt University, Scotland
- University of Glasgow, Scotland
- University of Bath, England
- University of Essex, England
- University of Birmingham, England
- University of Sussex, England
- University of East Anglia, England
- Brunel University London, England
- University of Liverpool, England
- Durham University, England
- University of Leicester, England
- Cardiff University, Wales
- University of Exeter, England
In Conclusion, studying actuarial science in the United Kingdom demands effective screening procedures for most universities. Therefore, you must make your plans ahead and prepare every necessary document that is required. Additionally, you must confirm via the school’s website before applying. You can reach out to us for further questions and assistance.
Good luck!
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