Is actuarial science in demand in India?

According to experts, there will be a 20\% increase in the demand for actuaries globally in the coming decade. However, the alarming fact is that there are only around 460 actuaries currently in India for a population of more than 1.3 million.

Is economics an actuarial science?

Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, finance, and other industries and professions. Actuarial science includes a number of interrelated subjects, including mathematics, probability theory, statistics, finance, economics, and computer science.

Can an economist work as an actuary?

Yes,you can become an actuary with an economics degree as you would be required to clear exams and apply for internship/job. Mostly,the degree of mathematics,statistics,economics and commerce are slightly better and complement the course.

What is the scope of actuarial science in India?

They can work in wealth management companies, financial services, banking, and stock exchanges, and investment consultancies. Actuaries can also seek a job in government and private organizations. Actuaries can also employ in BPOs, risk management, academics, pension funds, and management consultancy firms.

What can I do after MSc actuarial science?

Career Scope Students with an MSc in Actuarial Science may serve as an actuary or risk assessor in the insurance industry or finance firms. They can also function in other MNCs as a QA assurer, consultant, head of analysis, etc. Students who want to pursue further studies can opt for a PhD in the same field.

Can you become an actuary with an economics degree?

Majoring in Economics Economics is a popular choice for someone looking to become an actuary. If you decide to major in it then you’d want to fill some of your electives with courses in statistics, probability so that you get exposure to the other side of the actuarial skillset.

What is the scope of MSC actuarial science in India?

It is new yet gaining popularity in India gradually. MSc Actuarial Science jobs involve solving real life problems with mathematics and statistics tools. MSc Actuarial Science jobs involve risk assessment or financial assessments.

What should I study to become an actuary?

You could find several options to do Actuarial Science at the undergraduate level. At Bachelors level, you could also pursue Mathematics, Statistics, Finance, Economics, or Engineering if you want to keep your options open. Later, you could go for Masters in Actuarial Science.

Is actuarial science all about mathematics and statistics?

Actuarial science is all about mathematics and statistics Mathematics and statistics are tools through which we apply the actuarial principles and hence these subjects area foundation of the profession. But along with this, we also have other elements like risk management, economic principles, modelling, communication.

How many actuaries are there in India?

To be precise, as of 31st March 2018, we have just 379 fellows in India. This explains why the demand for actuaries is so high in the market. While this profession can be a very lucrative and self-fulfilling, one needs to be fully aware of what one is getting into.