Actuarial Science: A Zero Unemployment Professional Program

Actuarial science is almost an untapped sector that exists in India with a mere head count of only 125 professionals. Now that financial tsunami has subsided, jobs are back in the finance sector, which make actuarial science high in demand. This subject involves the use of mathematical & statistical concepts for risk assessment in the insurance & finance domain.

Keeping into consideration the ever increasing demand for actuaries, the School of Vocational Education and Training (www.ignou.ac.in/schools) under the supervision of IGNOU Delhi, has started Masters of Science in Actuarial Science, which is a full-time, 2-year programme taught in the main campus of IGNOU. C G Naidu, Director, School of Vocational Education and Training, IGNOU, says, “In India, there are only 125 qualified actuaries. This segment needs to be exploited further as it promises big returns.”

Candidates with a bachelor’s degree & 55% marks and Mathematics as a core subject can apply for this course, which has a limited seat availability of 25 students. Also, the candidates must have cleared 10 + 2 exam with at least 85% marks in Mathematics.

The students need to clear 14 tests for getting a degree of this course. You can expect to grab a job after the first paper also.Your salary is likely to be increased by Rs. 25, 000 with each successive cleared examination. The minimum annual salary of actuaries can be up to Rs. 3.5 lakh per annum.

There are a number of investment and financial institutions, which welcome even graduates with good job opportunities in life insurance, health insurance, general insurance, employee retirement and benefit plans services.

The Amity School of Insurance and Actuarial Science (www.www.amity.edu/asias) also offers M.Sc in Actuarial science and a dual degree called B.Sc+M.Sc in Actuarial Science

Source: Team Shiksha

Date: 20th July,2010

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