Applied Actuarial Science with an Industrial Placement (International Master's) - MSc

at University of Kent

The course is based on a ‘core modules plus options’ structure and exemptions can be gained from professional examinations.

Progression to Stage 2 is conditional upon satisfactory performance in Stage 1. MSc degree classification is based solely on the marks achieved in the second year of study.

The International Master’s programme covers subjects in the Core Principle, Core Practices and Specialist Principle Stages of the Institute and Faculty of Actuaries’ examinations.

The first year of this programme covers core principle subjects and the second year covers a number of the CP and SP subjects. Progression to Stage 2 is conditional upon satisfactory performance in Stage 1. MSc degree classification is based solely on the marks achieved in the second year of study.

Your placement

Placements last for 12 months, commencing in June/July of the Summer term. Upon completion of your placement, you will return to Kent to take your exams.  Placements may be undertaken in the UK or overseas.

The University does not guarantee every student will find a placement.  Those who do not secure a placement will be transferred to the MSc programme without a placement.

The placement consists of two modules: Industrial Placement Experience and Industrial Placement Report.  The Experience module is assessed as pass/fail only and the Report module is graded on a categorical scale.

Fees
 

• International full-time-£21200

All applicants are considered on an individual basis and additional qualifications, professional qualifications and relevant experience may also be taken into account when considering applications. 

For students continuing on this programme fees will increase year on year by no more than RPI + 3% in each academic year of study except where regulated.

The UK Actuarial Profession is small, but influential and well rewarded. There are more than 6,500 actuaries currently employed in the UK, the majority of whom work in insurance companies and consultancy practices.

Survey results published by the Institute and Faculty of Actuaries suggest that the average basic salary for a student actuary is £35,936 with pay and bonuses increasingly sharply as you become more experienced. The average basic salary of a Chief Actuary is £206,236.

As an actuary, your work is extremely varied and can include: advising companies on the amount of funds to set aside for employee pension payments; designing new insurance policies and setting premium rates; pricing financial derivatives and working in fund management and quantitative investment research; advising life insurance companies on he distribution of surplus funds; and estimating the effects of possible major disasters, such as earthquakes or hurricanes, and setting premium rates for insurance against such disasters.