Actuarial Science Heriot-Watt University

Overview

The Actuarial Science M.Sc. at Heriot-Watt University is designed to equip students with the technical mastery and business acumen required for a successful career in risk management. This programme provides a comprehensive foundation in statistical and financial modelling, preparing graduates to excel in sectors such as life insurance, pensions, and investment banking. By integrating data science skills with traditional actuarial theory, the curriculum ensures students are highly sought after in the global financial market.

Students benefit from a curriculum developed in collaboration with industry leaders, ensuring that the skills acquired are directly applicable to real-world tasks.

Why Actuarial Science at Heriot-Watt University?

Heriot-Watt University holds a prestigious reputation as the first institution in the UK to offer a degree in actuarial science and is recognised as a Society of Actuaries Centre of Actuarial Excellence. The teaching faculty comprises qualified actuaries with extensive industry experience and world-renowned researchers, providing a unique blend of academic rigour and practical insight. Located in Edinburgh, the financial heart of Scotland, the university offers students proximity to major global financial institutions and a vibrant cultural environment.

Tuition Fee Breakdown

• International fee: GBP 24952 per year
• National fee: GBP 12744 per year

Visit the Fees and Funding section for a breakdown in your local currency.

Syllabus

The curriculum covers core principles required for professional exemptions and includes a range of technical subjects. Modules may include:

• Economics
• Actuarial Applications
• Financial Mathematics Fundamentals
• Life Contingencies
• Statistical Methods
• Finance and Financial Reporting
• Climate Change and Sustainability
• Financial Economics
• Data Storytelling

The programme concludes with a mandatory dissertation project, allowing students to apply their knowledge to a significant piece of independent research.

Careers with Actuarial Science

Graduates of this programme enjoy excellent career prospects and high earning potential, with many securing roles as actuarial analysts or risk consultants. The university's alumni network includes numerous CEOs, partners of major consultancies, and presidents of professional actuarial associations. Recent graduates have successfully secured positions at prestigious global organisations, including Deloitte, KPMG, PwC, Lloyds Banking Group, Standard Life Aberdeen, and Prudential.

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.