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Actuarial Science and Diploma in Industrial Training, BSc (Hons)

Heriot-Watt University, the United Kingdom

Heriot-Watt University

Study options for this course

The award How you will study Study duration Course start Domestic course fees International course fees
BSc (Hons)Full-time5 yearsSeptemberGBP 9250GBP 14200

About Actuarial Science and Diploma in Industrial Training, BSc (Hons) - at Heriot-Watt University

If you want to start your career with a year's work experience in hand, then you should consider this programme. It combines the rigorous studies of the BSc (Hons) Actuarial Science with a year-long work placement in level 4. Good performance means exemptions from professional examinations (CT1 - CT8) as well as 12 months' experience of working in an organisation such as a life insurance company, a pension consultancy, an investment management firm or a bank. The Diploma in Industrial Training is gained through successful completion of this work placement. The work placement helps you to develop specific work-related skills, giving you the opportunity to apply and build upon the theory you learn in your studies. It allows you to take on real responsibilities, enhance your interpersonal skills through teamwork and communication and experience workplace culture.

The Diploma is available to all students, including those from overseas, as it does not require a work visa. If you are planning to come to the UK using a student visa you should check the Tier 4 Student Visa Policy Guidance to confirm you are permitted to undertake a work placement as part of your studies. It is your responsibility to find a suitable work placement; acceptance onto the programme does not guarantee you a placement. If you are registered on the programme and are unable to find a suitable work placement before the end of level 3 then you can transfer to the standard BSc (Hons) Actuarial Science degree.

Teaching excellence and student satisfaction

93% of our 2017 graduates reported in the National Student Survey that they were satisfied overall with their course.

Accreditation

Accredited by the Institute and Faculty of Actuaries for the purpose of exemption from some professional examinations.

Heriot-Watt CourseInstitute and Faculty (IFoA) Exam PassedWaiver from Society of Actuaries ExamF78AA Actuarial and Financial Mathematics A
F78AB Actuarial and Financial Mathematics BCT1Exam FMC37FF Finance and Financial ReportingCT2VEE Corporate FinanceF78PA Probability and Statistics A
F78PB Probability and Statistics BCT3Exam PC27OA Introductory EconomicsCT7VEE EconomicsF79SP Stochastic Processes &
F79SU Survival Models
F70LA Life Insurance Mathematics A
F70LB Life Insurance Mathematics BCT4 and CT5Exam MLC-Life ContingenciesF70RT Risk Theory
F70TS Time SeriesCT6Exam C and VEE Applied StatisticsF79PA Portfolio Theory
F79DF Derivative Markets
F70CF Continuous-time FinanceCT8Exam MFE-Financial Economics

Center of Actuarial Excellence

Heriot-Watt University is recognised as a Center of Actuarial Excellence by the Society of Actuaries (SOA), North America. We are the only Center of Actuarial Excellence in Europe and one of only 30 other schools worldwide with this designation. With roots dating back to 1889, the Society of Actuaries (SOA) is the world's largest actuarial professional organization with more than 28,000 actuaries as members.

PwC Actuarial Flying Start programme

The opportunity of a lifetime! The PwC Actuarial Flying Start programme offers, uniquely to Heriot-Watt University's Actuarial Science students, two six-month, paid, PwC work placements during Years Three and Five. It's the perfect way to gain valuable industry experience during your time at university. As an Actuarial Science student at Heriot-Watt University, you will have the opportunity to apply for this programme in Year Two. If successful, you'll join PwC's actuarial team in London and work directly with their clients - helping them plan for uncertainty as well as identifying, quantifying and managing their risks. They are known for the outstanding training they provide to graduates and if you do well, you could also get a job offer for when you graduate. Don't miss out!

Employability

Work and study

This is what our BSc (Hons) Actuarial Science and Diploma in Industrial Training students are doing six months after graduating:

  • 62% are working
  • 20% are studying
  • 8% are working and studying.

Managerial/professional position

  • 80% of those working are in a professional/managerial position six months after graduating.

Salary

  • The average salary of students six months after graduating: £26000
  • The average UK salary of students six months after graduating from a similar course: £23000

Jobs

These are the most common jobs students go into six months after graduating:

  • Business, research and administrative professionals
  • Business and public service associate professionals
  • Information technology and telecommunications professionals
  • Sales occupations
  • Elementary occupations
  • Skilled trades occupations
  • Teaching and educational professionals
  • Science, engineering and technology associate professionals

Notes about fees for this course

Status*Scotland / EU**England / Northern Ireland / WalesInternationalFeePaid by SAAS£9,250£14,200

* Your residency 'status' is usually defined as the country where you have been ordinarily resident for the three years before the start of your course. Find out more about tuition fees.

** European Union countries, not including England, Northern Ireland or Wales.

Additional fee information

BSc in Actuarial Science with Diploma in Industrial Training (1)

Students with Scotland or Non-UK EU fee status pay £910 for the placement year instead of the standard fees. Students with England, Northern Ireland, Wales or Overseas fee status pay £1300 for the placement year instead of the standard fees.

BSc in Actuarial Science with Diploma in Industrial Training (2) (PwC Actuarial Flying Start)

Students with Scotland or Non-UK EU fee status pay £455 for each six month placement instead of the standard fees. Students with England, Northern Ireland, Wales or Overseas fee status pay £650 for each six month placement instead of the standard fees.

Scholarships and bursaries

Featured scholarships

Bursaries for students from England, Northern Ireland or Wales starting undergraduate degree courses in 2018

In addition to government maintenance loans and grants towards the costs of fees and living costs, we are offering generous financial support to attract and support eligible students from England, Northern Ireland or Wales:

  • Heriot-Watt University Bursary (up to £3,100 per year)
  • Heriot-Watt Academic Scholarship (£1,000 per year)

View our full range of undergraduate scholarships.

Entry requirements

Year 1

  • Highers AAAB including Mathematics at A
  • A-Levels AAB including Mathematics at A
  • Int. Baccalaureate 28 points with higher level Mathematics at 6
  • BTEC Extended Diploma (QCF) Level 3 at DDD including sufficient Mathematics

Year 2

  • A-Levels AAA including Mathematics
  • Advanced Highers AAB Including Mathematics at A plus excellent Highers or Scottish Baccalaureate
  • Int. Baccalaureate 30 points with higher level Mathematics at 7
  • BTEC Extended Diploma (QCF) Level 3 at DDD including sufficient Mathematics 

Additional information

  • To find out about the difference between the 3 and 4 year honours programmes, please watch our video to help you decide which route is best for your qualifications and experience so far.
  • We also accept the BTEC Subsidiary Diploma (QCF) at D in place of one A-Level, however it cannot replace a subject specific requirement unless relevant.
  • English language requirements - If your first language is not English, it is important that you gain an acceptable language qualification before joining our undergraduate programmes. The minimum requirement for English language for all our undergraduate Actuarial Mathematics and Statistics programmes is IELTS 6.5. We also offer a range of English language courses to help you meet the English language requirement prior to starting your undergraduate programme.

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