ObjectivesThe BSc in Actuarial Science and Mathematics gives a firm foundation in Mathematics, together with specialist course units in Actuarial Science whilst giving you the opportunity to develop team working, communication and leadership skills. The mathematical skills involved include the majority of the topics taught to students on the first year of the specialist mathematics degree i.e. covering courses in pure and applied mathematics and statistics as well as some more general mathematics. As the course progresses, the statistical topics are explored in more detail. Courses in all areas of mathematics are used as a basis for some of the actuarial units. Although the mathematics topics are more prevalent in the early years of the programme, there are opportunities to select from a wide range of mathematics options in the final year. The actuarial topics start off with Economics, followed by Finance, and then consider the various actuarial models and contingencies used in the profession. Supporting skills include options in leadership, enterprise and sustainable energy. These can be taken as options with alternatives including a wide range of mathematics units.
Entry requirementsSelected entry requirements English language: You will need an English Language qualification; examples are the IELTS, with an overall score of 6.5 and a minimum of 5.5 in each component; or the TOEFL, with a score of at least 570 in the paper based test; or 90 in the Internet Based TOEFL, with a minimum of 22 in each component; or a score of 230 in the Computer Based TOEFL. In addition, GCSE or O'level English Language at grade C or above. A level: Grades AAB where mathematics must be at grade A including grades AB in modules C3 and C4 (in either order). Grades ABB accepted if this includes Further Mathematics. General Studies is welcomed but is not included as part of the offer. Two AS levels are sometimes accepted in place of a non-mathematical A level. Unit grade information: The University of Manchester welcomes the provision of unit grade information which, like all other available information, will inform the consideration of applications. Unit grades will not normally form part of offer conditions, except for Mathematics programmes. GCSE: Minimum grade C in English Language. Key Skills qualification: The University warmly welcomes applications from students studying the Key Skills qualification. However, as the opportunities to take these modules are not open to all applicants, currently this is not an essential requirement of the University. International baccalaureate: 33 points overall including 16 points at Higher level. Higher level points must include 6 in Mathematics. Additional entry requirements Additional entry requirements exist for this course. You may view these by selecting from the list below.
Academic titleBSc Actuarial Science and Mathematics
Course descriptionSpecial features
The programme will focus on developing a unique blend of strong mathematical skills, real world business understanding, and communication, interpersonal and leadership skills, all of which have been identified by the Actuarial Profession as core skills required by graduates and trainee actuaries.
The University of Manchester is in a unique position by offering the exemplary Management in Leadership programme and the Sustainable Development course unit to students on this programme. Some of the course units you study will be taught by staff of the Manchester Business School and the School of Social Sciences. The School is in dialogue with the Actuarial Profession in order to ensure that graduates of this course are able to gain exemptions from a number of core technical level exams from the Institute and Faculty of Actuaries.
The University of Manchester is renowned for its strong links with industry and graduates from the School of Mathematics are in high demand. The North of England, taking in cities such as Liverpool, Manchester, Leeds and York is home to many financial services and actuarial sector companies. Strong industrial involvement in this programme will ensure that the content of the programme reflects industrial need.
Scholarships and bursaries
All new UK students who are enrolled on this undergraduate degree programme, and who gain three A grades at A level (not including General Studies), will be awarded a Scholarship of £750, or £1,500 if one of these A grades is in Further Mathematics. Scholars will receive their award in two instalments, with one third of the Scholarship paid in the first year, and the rest paid in the second year provided they have maintained a standard of excellence.
For students paying fees at the overseas rate, the School will award five competative International Science Merit Scholarships to international applicants who demonstrate exceptional academic performance. These awards are worth £4,000 per year for each year of study on the BSc (Hons) Actuarial Science and Mathematics, subject to performance. Three of the awards are specifically for applicants applying from China, South East Asia and Africa.
Career opportunities
We expect graduates of this programme to be in a very strong position to develop a career in the actuarial industry. Graduates will have the opportunity to gain some exemptions from the Core Technical examinations, run by the Institute and Faculty of Actuaries, which will give them the opportunity to qualify as an actuary much more quickly than other graduates.
Starting salaries for graduate Trainee Actuaries range from £23,000 to £35,000, depending on location and the type of company. Newly qualified actuaries can expect to earn from £45,000 to £55,000, with actuaries in senior positions attracting salaries in excess of £100,000.
Alternatively, graduates will be able to progress in careers in other areas of the financial sector. The strong mathematical content of this programme will enable graduates to take careers in further areas where mathematics is used e.g. scientific or teaching.
Those who wish to take the subject forward to postgraduate study are also catered for by this degree.
Course fees:
Tuition fees for Home/EU students commencing their studies in 2009 will be approximately £3250 per year. These fees will be subject to change in the light of government announcements to all universities. For entry in 2008, the tuition fees international students were £12,900 per annum, this is likely to be increased in line with inflation.
Other programs related to mathematics, applied mathematics