What is an Actuarial Science?
Actuarial science is the discipline that applies mathematical and statistical methods to assess risk in insurance, pension, finance, investment, and other industries and professions. More generally, actuaries apply rigorous mathematics to model matters of uncertainty and life expectancy
Where Can I Study Actuarial Science In South Africa?
| UNIVERSITY | WEBSITE |
|---|---|
| Cape Town | https://www.commerce.uct.ac.za/Managementstudies/actuarialscience/ |
| Pretoria | http://www.up.ac.za/insurance-and-actuarial-science |
| Johannesburg | https://www.uj.ac.za/faculties/science/ |
| Stellenbosch | http://academic.sun.ac.za/statistics/ |
| Witwatersrand | http://web.wits.ac.za/Academic/Science/Stats/Home.htm |
| Free State | https://www.ufs.ac.za/natagri/departments-and-divisions/mathematical-statistics-and-actuarial-science-home/actuarial-study-support/exemption-agreement |
| North West (Potchefstroom Campus) | http://www.nwu.ac.za/bmi |
How long do you study to become an actuary in South Africa?
A: Most students take more than ten years to become an actuary, but the minimum is 8 years. This is broken up into phases: Undergraduate degree (minimum three years), Honours degree (minimum one year), work and study simultaneously through correspondence (minimum four years).
How long does it take to study Actuarial Science at UCT?
In the standard format, a BBusSc takes four years to complete, and a BCom takes three years. As the BBusSc takes a year longer to complete, students specialise in a discipline up to 4th year (level 8) enabling them to apply for a related Master’s degree.
What qualifications do you need to be an actuary in South Africa?
It takes, on average, 9 years to qualify as an actuary, of which 4 are normally full-time University studies and 5 years part-time studies while the candidate is working.
Most employers offer study leave to their actuarial students as well as some form of subsidy towards the cost of further studies.
How much does an actuarial graduate earn in South Africa?
The average actuary salary in South Africa is R 4 650 000 per year or R 2 385 per hour. Entry-level positions start at R 949 000 per year, while most experienced workers make up to R 10 800 000 per year.