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BSc (Hons) Actuarial Science (with a year in industry)

Develop mathematical models to manage the financial impact of risk and uncertainty

Year of entry: 2022/23

UCAS code


Institution code



4 years full-time

Typical offer

AAA (full entry requirements)

Start date

September 2022(term dates)

UK (home) fees

£9,250 per year

International and EU fees

£19,600 per year

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for 'learning opportunities' and 'assessment and feedback' in Mathematics

of the Russell Group universities included in the 2021 National Student Survey

Successful actuaries use mathematical skill and business acumen to solve financial problems related to risk and uncertainty. 

This degree combines the expertise of the York Management School and the Department of Mathematics, giving you access to world-class academics at the cutting edge of research in their fields.

You'll sharpen your mathematical skills and statistical reasoning, using advanced calculus, algebra, probability and statistics. In parallel you'll study economics, finance and accounting, developing your understanding of the wider context of actuarial work. Spending a year in industry offers an opportunity to put theory into practice while gaining valuable experience.

On successfully completing this course, you will be a multi-faceted and highly employable graduate with the financial and business skills required to qualify as a professional actuary.

This course is available as a three-year degree, without a year in industry: Actuarial Science (BSc).


This course is professionally accredited by the Institute and Faculty of Actuaries. This is a mark of our course's quality and guarantees its relevance to the actuarial profession. Successfully completing this course will take you part of the way to qualification as a professional actuary.

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Housed in the Church Lane building, the new Trading Room will enable Management students to experience how financial markets really operate. Course leaders will use live data from market-leading databases such as Reuters Refinitiv and the China Stock Market and Accounting Research database to teach students how to handle the sort of decisions that professional investors face on a daily basis.
The main thing I love about my placement is how interesting the work is. My team have made me feel like a valued member of the company. They have taken so much time to help me understand the technical concepts and to teach me the operational aspects so that I am able to carry out the role to the best of my ability.
Rhiannon, BSc Actuarial Science

Read more about Rhiannon's placement with SCOR in Paris.

Year in industry

Gain management-related experience, apply your academic knowledge and improve your employability.

Bespoke employability training

Our dedicated support team will help you present yourself at your best for the next step of your career.

University of the Year shortlisted

We're proud to announce that we've been shortlisted for two prestigious University of the Year awards.

  • Times Higher Education Awards 2021
  • The Times and Sunday Times Good University Guide 2022

Find out more about our nominations

Course content

This course will equip you with knowledge and understanding of the concepts, theories and models of actuarial science.

You'll study mathematical concepts such as probability theory and statistics, as well as business economics, accounting and corporate finance.

You'll learn to use data to model uncertain future events and improve your analytical skills through rigorous mathematical reasoning.

Study abroad

There are opportunities for you to spend time abroad during your course:

Year 1

Year 1 covers skills and knowledge which you'll use and build on throughout your degree. You'll learn about some key financial and economic concepts and develop your core mathematical skills.

Core modules

You will take core modules which may include:

Academic integrity module

In addition to the above you will also need to complete our online Academic Integrity module.

Year 2

In your second year you'll continue to develop your mathematical skills in probability and statistics. We'll introduce you to some key actuarial concepts and a variety of actuarial modelling techniques.

Core modules

You will take core modules which may include:

Year 3

A year in industry gives you the opportunity to apply your academic learning to a real-life business. The average salary for placements in 2019/20 was £17,000, ranging from £14,800 to £21,500.

We have established strong links with a number of actuarial employers, and work with the Institute and Faculty of Actuaries to help you find and apply for placements with a specifically actuarial focus. In recent years placements have included:

  • Morgan Stanley
  • PricewaterhouseCoopers
  • Ernst & Young

Year 4

In your final year you'll learn advanced methods of statistical analysis and explore more sophisticated mathematical approaches to modeling financial and actuarial processes. 

Core modules

You will take core modules which may include:

Option modules

Option module examples may include:

Our modules may change to reflect the latest academic thinking and expertise of our staff.
Our course structures are changing in September 2023. Find out more about how this course may be affected.

Learning by design

Every course at York has been designed to provide clear and ambitious learning outcomes. These learning outcomes give you an understanding of what you will be able to do at the end of the course. We develop each course by designing modules that grow your abilities towards the learning outcomes and help you to explain what you can offer to employers. Find out more about our approach to teaching and learning.

Students who complete this course will be able to:

  • Formulate mathematical models to describe actuarial and financial risks, apply these models to problems in the real world and reflect critically on model assumptions and limitations. 
  • Deploy the methods of logical reasoning and the techniques of mathematical problem solving to analyse the properties and consequences of models. 
  • Apply economic, financial and accounting knowledge in an actuarial context to develop modelling solutions that are informed by financial theory and reflect business realities. 
  • Use the techniques of mathematical statistics to draw inferences from the application of actuarial models to data and quantify the uncertainty in these inferences. 
  • Apply advanced data-analytical, computational and programming skills to the implementation of actuarial and financial models. 
  • Communicate the results and insights of actuarial analyses to stakeholders with differing levels of quantitative expertise. 
  • Operate in the professional arena by maintaining awareness of key ethical and legal issues, continuing to deepen and expand their knowledge and recognising how actuarial practice impacts on stakeholders and society.

Fees and funding

The fees and funding figures below are for 2022/23 entry. If you take a placement year - for example a year abroad or a year in industry - you'll pay a reduced rate of fees for that year

Annual tuition fees

UK (home) International and EU
£9,250 £19,600

UK (home) or international fees? The level of fee that you will be asked to pay depends on whether you're classed as a UK (home) or international student. Check your fee status

Fees for subsequent years

  • UK (home): further increases within the government fee cap will apply in subsequent academic years. We will notify you of any increase as soon as we can.
  • International: fees for international and EU students are subject to annual increases. Increases are currently capped at two per cent each year.

More information

For more information about tuition fees, any reduced fees for study abroad and work placement years, scholarships, tuition fee loans, maintenance loans and living costs see undergraduate fees and funding.

Additional costs

You may find it useful to buy textbooks, and for some modules this may be required. Textbooks usually cost around £30 - £60 each.

Type Amount
Textbooks Optional additional expense £60
Year in industry Compulsory additional expense £1,850
Printing, photocopying and dissertation binding Optional additional expense £0


We'll confirm more funding opportunities for students joining us in 2022/23 throughout the year.

Departmental scholarships

Our Actuarial Science scholarship provides £3,000 for each year of your studies. UK students from households with a residual income of £35,000 or less are eligible to apply. Applications for this studentship open during your first year at York.

Living costs

You can use our living costs guide to help plan your budget. It covers additional costs that are not included in your tuition fee such as expenses for accommodation and study materials.

Teaching and assessment

You’ll study and learn with academics who are active researchers, experts in their field and have a passion for their subjects. Our approach to teaching will provide you with the knowledge, opportunities, and support you need to grow and succeed in a global workplace. Find out more about our approach to teaching and learning.

Teaching format

Our modules are taught by leading academics from the Department of Mathematics and the York Management School. We use a wide range of teaching methods to suit different learning styles, including:

  • Lectures
  • Small-group seminars
  • Problem classes
  • Activity-based workshops
  • Directed independent study
  • Group projects
  • Individual projects

This course has a strong practical focus, allowing you to apply and develop your skills. Our courses are designed to encourage you to take responsibility for your own learning and development, but with all the support you need available from our academics.

Timetabled activities

In your first year, you can expect:

Lectures11-12 hours per week
Seminars3-4 hours per week
Practicals0-1 hours per week

These figures are based on an average student in an average week. Your contact hours will vary throughout the year due to your module choices, non-compulsory classes, exam periods and changes to scheduled activities. Our course structures are changing in September 2023. Find out more about how this course may be affected.

Outside your timetabled hours, you'll study independently. This may include preparation for classes, follow-up work, wider reading, practice completion of assessment tasks, or revision.

In the UK, full-time students are expected to spend 1,200 hours a year learning. That's about 40 hours of classes and independent study each week during term time. Everyone learns at a different rate, so the number of hours you spend on independent study will be different to other students on your course.

Teaching location

You will be based in the Management School on Campus West. Your teaching will take place in various locations around Campus East and Campus West.

About our campus

Our beautiful green campus offers a student-friendly setting in which to live and study, within easy reach of the action in the city centre. It's easy to get around campus - everything is within walking or pedalling distance, or you can always use the fast and frequent bus service.

Assessment and feedback

You will be assessed largely by closed examination, alongside a mixture of weekly problem sets, essays and projects.

In your second and final years you will have some scope to choose forms of assessment that you prefer through selection of optional modules. However, this course puts greater emphasis on examinations due to the requirements of accreditation by the Institute and Faculty of Actuaries.

Percentage of the course typically assessed by coursework and exams

Year 1Year 2Year 3Year 4
Written exams88%97%0%97%
Practical exams0%0%100%0%

The figures above are based on data from 2016/17. Our course structures are changing in September 2023. Find out more about how this course may be affected.

I have really enjoyed my first year on the Actuarial Science course. York Management School is a great place to learn and have time to enjoy yourself which was made possible with the support, whether academic or personal, offered throughout the year.
Charles, BSc Actuarial Science

Careers and skills

This course provides a combination of high-level mathematical skills and cutting edge financial and business theory which is sought after by employers all over the world.

You'll be equipped to engage in high-level mathematical reasoning and open-ended problem solving, with analytical skills applicable to a wide range of management problems.

Career opportunities

Actuarial science graduates work in a wide range of roles related to finance, investment, risk, pensions and insurance. Many progress to actuarial trainee positions at firms such as Mercer, Willis Towers Watson, EY, RSA, MS Amlin, Deloitte and PwC.

Transferable skills

  • Critical thinking and analysis
  • Problem solving
  • Numeracy and data analysis
  • Mathematical reasoning
  • Time management
  • Communication, presentation and reporting to specialist and non-specialist audiences

Entry requirements

Typical offer
A levels

AAA including Mathematics

BTEC National Extended Diploma DDD plus A in A Level Mathematics
Cambridge Pre-U D3, D3, D3 including Mathematics
European Baccalaureate 85% average, including 85% in Mathematics
International Baccalaureate 36 points including Higher Level 6 in Maths
Other international qualifications Equivalent qualifications from your country

Alternative offers

Meeting the following additional criteria may qualify you for an alternative offer.

Criteria Adjustment
Widening participation If you successfully complete one of the following programmes, you may be eligible for an alternative offer up to three A level grades (or equivalent) below our typical offer: Next Step York, Realising Opportunities. More about widening participation.
Contextual offers If you have experience of local authority care or live in an area with low progression to university, you may be eligible for an alternative offer up to two A level grades (or equivalent) below our typical offer. More about contextual offers.
EPQ If you achieve B or higher at EPQ, you may be eligible for an alternative offer up to one A level grade (or equivalent) below our typical offer.

English language

If English isn't your first language you may need to provide evidence of your English language ability. We accept the following qualifications:

Minimum requirement
IELTS (Academic and Indicator) 6.5, with a minimum of 6.0 in each component
C1 Advanced and C2 Proficiency 176, with a minimum of 169 in each component
Duolingo 110 overall, with a minimum of 100 in each component
GCSE/IGCSE/O level English Language (as a first or second language) Grade C
LanguageCert International ESOL SELT B2 Communicator High Pass with a minimum score of 33/50 in each component
PTE Academic 61, with a minimum of 55 in each component
TOEFL 87 overall, with a minimum of 21 in each component
Trinity ISE III Merit in all components

For more information see our undergraduate English language requirements.

If you've not met our English language requirements

You may be eligible for one of our pre-sessional English language courses. These courses will provide you with the level of English needed to meet the conditions of your offer.

The length of course you need to take depends on your current English language test scores and how much you need to improve to reach our English language requirements.

After you've accepted your offer to study at York, we'll confirm which pre-sessional course you should apply to via You@York.


To apply to York, you will need to complete an online application via UCAS (the Universities and Colleges Admissions Service).

If you have faced obstacles to higher education, or you are returning to education after a long absence, you may benefit from the York Access Scheme.

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