Entry year
Start date
September 2023
Duration
3 years
Duration with placement
4 years
Application deadline
25th Jan 2023
Campus
Northampton Square
UCAS Code
G322 / G321 with professional placement

Overview

Who is it for?

You excel in and enjoy mathematics, especially modelling and probability. You love asking “What if?”.

The skills you gain on the Actuarial Science undergraduate course will kickstart your actuarial career. You can also enter careers in risk management, investment management or financial analysis.

Objectives

If you enjoy mathematics, statistics, probability and economics you will find this course ideal. For the duration of your degree, you’ll delve deeper into these core subjects, as well as stochastic models, finance and financial reporting, business and, naturally, actuarial science itself. You’ll also produce a self-researched final-year project on an area that interests you and reflects your ambitions.

This degree provides students with the skills to start their actuarial career, with the added flexibility of allowing students to alternatively use these skills to enter risk management, investment management or financial analysis upon graduation. It can provide exemptions from subjects CM1, CM2, CS1, CS2, CB1 and CB2 of the Institute and Faculty of Actuaries’ examinations.

*(The UNL Global Research Rankings of Actuarial Science and Risk Management & Insurance 2022)

Course Directors

photo of David Smith

Dr David Smith

Senior Lecturer in Actuarial Science

Course director profile

Dr Jaap Spreeuw

Senior Lecturer in Actuarial Science

Savvas Soteriou
Savvas-Soteriou
Actuarial Science
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Structure

What will I learn?

  • Develop your knowledge and understanding of actuarial science, statistics, mathematics, finance and related disciplines.
  • Develop your ability to communicate your knowledge and understanding effectively.
  • Develop your understanding of the roles of mathematical and statistical calculation, analysis and judgement in actuarial science and financial risk management.
  • Develop your ability to make reasoned judgements, frame appropriate questions and draw independent conclusions.
  • Equip you with the skills required to work professionally as an actuary or in alternative fields related to statistics, finance, risk management and in general management.
  • Prepare you to enter postgraduate study in actuarial science or related disciplines.

Assessment methods

You will be assessed using a variety of methods, depending on module choices including:

  • Coursework
  • Unseen written examinations, taking place at the end of each term (or at the end of a year, if a module is taught over two terms)
  • Class tests
  • Online quizzes and tests, using the Virtual Learning Environment
  • Presentation
  • Group projects, individual projects.

Percentage of the course assessed by coursework

The balance of assessment by examination, practical examination and assessment by coursework will to some extent depend on the optional modules you choose. The approximate percentage of the course assessment, based on 2018/19 entry is as follows:

Year 1

67% written, 4% practical, 29% coursework

Year 2

73% written, 27% coursework

Year 3

65% written, 2% practical, 33% coursework.

Overall workload

Most contact hours take the form of lectures. A number of tutorials, exercise classes and surgery hours are scheduled during the first year, the number decreasing as you progress and you become more able to direct your own learning. Approximate study time based on 2018/19 entry is as follows:

Year 1

32% scheduled learning, 68% independent learning

Year 2

25% scheduled learning, 75% independent learning

Year 3

17% scheduled learning, 83% independent learning.

Term dates

Academic year

For a full breakdown of the current and forthcoming academic year view our term dates page.

Timetables

Course timetables are normally available from July and can be accessed from our timetabling pages. These pages also provide timetables for the current academic year, though this information should be viewed as indicative and details may vary from year to year.

View academic timetables

Please note that all academic timetables are subject to change.

Application

How to apply

All applications should be made through UCAS, the Universities and Colleges Admissions Service. Applications are made via Apply, UCAS's online application system.

UCAS Institution code: C60 (Bayes Business School and City, University of London)
UCAS Course code: G322 / G312 with professional placement

You can find more information at UCAS and in the UCAS Handbook.

Apply now

Find out more information about applying to Bayes.

Terms and conditions

Students applying to study at Bayes Business School are subject to City, University of London's terms and conditions.

Entry requirements

Below is a list of countries with information on each about which qualifications we accept.

English language requirements

Information for international and EU applicants

For international applicants requiring a Student Route visa we accept any of the below English language proficiency qualifications at the grades listed.

Please note, the Official Certificate must be awarded OR the qualification must be verifiable online. Statement of Results will not be accepted.

The English Language qualification or test needs to have been taken no longer than two years from the date that the CAS is generated.

English Language Tests:

  • IELTS (Academic, UKVI or IELTS Indicator): 6.5 overall with no less than 6.0 in any sub test.
  • Language Cert International ESOL: Language Cert B2 Communicator High Pass
  • TOEFL (Test centre or iBT Special Home Edition): 92 overall (24 Writing, 23 Reading, 22 Speaking, 21 Listening)
  • Pearson Academic Online / Pearson Test of English (PTE) Academic: 59 overall with minimum of 59 in each sub test
  • Cambridge English Advanced (also known as Certificate in Advanced English): Grade C (180 overall) at CEFR Level C1 with minimum 170 in each sub test
  • Cambridge English Proficiency (also known as Certificate of Proficiency in English): Pass qualification (all grades accepted)
  • Oxford Test of English 130 overall with minimum 120 in each sub test

English Language Qualifications:

  • IGCSE: English as a First Language (Syllabus 0500 & 0522) or English as Second Language (Syllabus 0510 & 0511) at Grade B or above
  • International Baccalaureate: Grade 5 at Standard level or Grade 4 at Higher level
  • Trinity College (Integrated Skills): ISE III – pass in each area
  • INTO City Pre-sessional English: 6.5 overall with no less than 6.0 in any sub test (NB. Must be the 6 or 8 week Bayes-specific course)
  • Hong Kong Diploma of Secondary Education (HKDSE): English Language Examination grade 4 or above
  • GCSE English Language Grade C/5 or above but 1) Qualifications must be issued by Ofqual, SQA, Qualifications Wales or CCEA regulated body in the UK; 2) Education must be undertaken in a UK school.
  • A Level English Language Grade C or above but 1) Qualifications must be issued by Ofqual, SQA, Qualifications Wales or CCEA regulated body in the UK; 2) Education must be undertaken in a UK school.
  • Vitnemal English grade 5
  • French Baccalaureat: 14/20 in English
  • Malaysian GCE O Level (SPM-1119 syllabus only): grade A

An exception to the above criteria applies to Student Route visa applicants from the below majority English-speaking countries for whom we can accept a wider range of English qualifications:

  • Antigua and Barbuda
  • Australia
  • The Bahamas
  • Barbados
  • Belize
  • Canada
  • Dominica
  • Grenada
  • Guyana
  • Ireland
  • Jamaica
  • Malta
  • New Zealand
  • St Kitts and Nevis
  • St Lucia
  • St Vincent and the Grenadines
  • Trinidad and Tobago
  • United Kingdom
  • United States of America

Don’t meet the English language requirements? INTO City, University of London offers English language programmes to help prepare you for study at university. These intensive and flexible courses are designed to improve your English ability for entry to degree courses.

Information for home applicants

In addition to the above English language proficiency qualifications accepted for International applicants, as a Home or EU applicant we can also accept any of the below English qualifications:

  • GCSE: Grade C or 4
  • O-Level: Grade C
  • A-Level: Grade C
  • Cambridge English First (also known as Certificate of First in English): Grade A (180-190) at CEFR Level C1

Study abroad

Bayes Business School gives you the opportunity to spend a year studying at one of our partner institutions, which are located around the world including Canada, Australia and Europe.

*Please note that the partner universities available is dependent on the study abroad programme you apply for and on your degree. The list of partner universities is also subject to change.

Sandwich year

You can spend a year of your degree course studying at one of our partner institutions, between your second and final year of study. This would add a year to your degree so you would complete your degree in four years.

All the above listed partner universities are available to this degree, however if you wish to take Actuarial Science modules abroad you will need to apply to University of Waterloo, Canada.

Student Exchange Team

Our dedicated Student Exchange Team are available to offer advice to students who wish to explore their study abroad options. They will also support students throughout the application process and during their study abroad year or term. To contact them, email: bayes-ug-outgoing@city.ac.uk.

Placements

Work Placements at Bayes

The practical experience of a professional placement, (typically 9-12 months duration) in addition to strong academic achievement, gives graduates a distinctive edge in the job market. Find out more about Work Placements and Summer Internships at Bayes.

A key part of a Bayes degree is the opportunity to gain professional work experience. BSc Actuarial Science students are eligible to undertake a one-year paid work placement during the third year of a four-year sandwich degree programme.

The experience of working for a leading institution is not only exciting, but can be invaluable in terms of your future career. It will enable you to increase your confidence and maturity, expand your network of contacts, earn a competitive salary, and acquire the skills and competencies sought by graduate employers, giving you a competitive edge in the graduate market.

Actuarial Science students usually go into the traditional insurance and pension sectors as well as general finance. Students have gone on to secure placement roles in positions including actuarial analysts, data analyst and investment consultant with companies such as Aon, Aviva, HSBC, Marsh & McLennan, Mercer, QBE and many others.

Graduates have embarked on careers in investment banking, investment management, accountancy, commercial banking, insurance, financial analysis and management.

Recent Placements

  • Aon
  • Aviva/Friends Life
  • Prudential
  • Marsh Ltd
  • Mercer Ltd
  • HSBC

Work placements are not guaranteed, however, our reputation, achievements and successful graduates have helped us to develop close relationships with a diverse range of companies, who recognise that Bayes students can add significant value to their workforce. Our dedicated Placement team are in regular contact with these and many more companies, and will support you to find placements and ensure you are work ready.

Although this additional year is not credited and will not count towards your degree classification, it is a recognised part of the degree programme and will be endorsed on your final degree certificate.

Micro-Placements

The Micro-Placements Programme provides an opportunity for students to take on exciting projects and gain real life experience to enhance their core employability skills and explore different career options.

Micro-Placements are between 2-5 weeks long and take place during the summer, between June and August. You can also choose to do a full-time or part-time Micro-Placement which works according to your schedule. This is an ideal time to gain work-experience as it will not interfere with your studies and is not a lengthy commitment.

Support from the Placements Team

A dedicated placements team will support you through the placements process. The team advertise a number of work placement and summer internships annually, and invite businesses to Bayes to meet with you and discuss the roles available. The team offers 1-2-1 advice on CV's and covering letters, as well as organising workshops to help you enhance your skills and competencies with applications and interviews. Also the team support students throughout your placement year including offering advice, guidance and monitoring your progress.

Fees

UK £9250 Tuition fees are subject to annual change
EU £22000 Tuition fees are subject to annual change
International £22000 Tuition fees are subject to annual change

UK students

Fees for students commencing study in 2023/24 are £9,250.*

EU students and Non-EU international students

Fees for students commencing study in 2023/24 are £22,000.*

The tuition fees indicated are for the 2023/ 24 academic year only. Fees for each subsequent year of study are subject to an annual increase to take account of City's increased costs of delivering educational services. This increase will be 5% for each subsequent year of study. You should expect your fee to increase by this amount and budget accordingly.

Funding

Career pathways

The majority of our graduates become actuarial trainees and study for the Institute and Faculty of Actuaries' examinations. Others embark on careers in:

  • investment banking and investment management
  • auditing
  • commercial banking
  • insurance
  • financial analysis
  • management
  • computing and teaching.

Graduates from the Actuarial Science degree earn an average salary of £26,500 (DLHE 2015-16) after graduation and recent employers have included KPMG, Deloitte and Towers Watson. Some students progress to postgraduate study, often on Bayes Business School's MSc Actuarial Management.

Where our Graduates work

Our Careers Service carries out the Graduate Outcomes Survey every year. The information collected is a snapshot of what City graduates are doing six months after completion of their course. Find out the types positions our Actuarial Science graduates have gone on to here.

Recent employers

Royal Bank of Scotland
Morgan Stanley
Goldman Sachs
BNP Paribas

Alumni stories

BSc Actuarial Science Student Zeba Jahangir
Zeba Jahangir
Actuarial Science

Hear from our alumni. Discover the real experiences of learning at Bayes and how Bayes helped to boost our graduates' careers.

Read Zeba’s story

Course information and statistics from 2020-21 Graduate Outcomes

Graduation hat - dark theme
57
students in total
87.2%
of graduates in employment or further study six months after completing the course, with a median salary of
£34,195
Globe - dark theme
9
countries represented

Accreditation

In order to qualify as an actuary, you will be required to pass the professional examinations of the Institute and Faculty of Actuaries. Specific modules in all three years of the BSc Actuarial Science degree give you the opportunity to earn exemptions from six of the seven core principles stage subjects.