BSc Actuarial Science Jobs, Scope, Salary in India 2024

Updated on - Jan 4, 2023

B.Sc. Actuarial Science jobs are available for graduates in a wider and more diverse variety of roles. Graduates will have job opportunities in both the private and public sectors. The career options are very wide and diverse, due to the flexibility of the coursework that the students obtain. Some of the B.Sc. Actuarial Science job lists include Risk Managers, Auditors, Budget Analysts, Economists, Cost Estimators, Financial Analysts, etc

Career Prospects and Job Scope for a B.Sc. Actuarial Science Graduate

Jobs for B.Sc. Actuarial Science graduates are available to students at ease. A student can easily map their B.Sc Actuarial Science course as per his or her future aspirations with options ranging from Accounting, Mathematician, Statistician, and more. Accounting jobs are the primary areas of employment for graduates of the B.Sc. Actuarial Science course.

The B.Sc. Actuarial Science scope of work for a graduate is comprehensive and varies over a large number of working areas and sectors. Listed below are some of the popular jobs after B.Sc. Actuarial Science that is undertaken by graduates:

Risk Managers
Auditors
Budget Analysts
Economists
Cost Estimators
Financial Analysts, etc

Areas of Recruitment for B.Sc. Actuarial Science

There is a large scope of B.Sc. Actuarial Science jobs for graduates in both the private and public sectors. After B.Sc. Actuarial Science graduation students pursuing a B.Sc. Actuarial Science courses are not limited to their specific areas resulting in a vast job.

With many specialisations, the B.Sc. Actuarial Science course is an all-around course. Concerning the previous academic background and the personal choice and the ability of the student toward a particular program, there exists an appropriate plan for almost every candidate opting for the B.Sc. Actuarial Science course.

Some of the areas of recruitment are:

Risk Managers
Auditors
Budget Analysts
Economists
Cost Estimators
Financial Analysts, etc.

B.Sc. Actuarial Science Salary

The B.Sc. Actuarial Science salary for the graduates can differ according to the specialisation that the aspirants decide to pursue. Other factors which can affect B.Sc. Actuarial Science salary in India includes experience, location, and specialisation. Graduates can increase their salary by doing internships and work placements as it would add to their experiences.

B.Sc. Actuarial Science Salary in India

The average B.Sc. Actuarial Science salary for graduates is around INR 5 - 8 LPA [Source: PayScale]. The table below shows the salary breakdown of B.Sc. Actuarial Science graduates in India:

B.Sc. Actuarial Science Salary	Amount
Highest Salary	INR 10 LPA
Lowest Salary	INR 5 LPA
Average Salary	INR 8 LPA

Source: Glassdoor

The table below contains the list of B.Sc. Actuarial Science job profiles and their average salaries per annum:

Designation	Salary
Actuary	INR 7 LPA
Budget Analysts	INR 4 LPA
Economists	INR 6 LPA
Cost Estimators	INR 6 LPA
Mathematicians	INR 7 LPA

Source: Payscale

B.Sc. Actuarial Science Salary Abroad

B.Sc. Actuarial Science is one of the most popular courses in the world, making it an attractive prospect for Indian students to pursue abroad. Students will have access to the best infrastructure, amenities, academic curriculums, and faculties while pursuing a B.Sc. Actuarial Science abroad.

Furthermore, they will have the opportunity to work and earn attractive salaries upon completing the course. The average salary of a B.Sc. Actuarial Science graduate abroad is USD 52,000 PA (Source: PayScale). The table below contains the list of job profiles abroad and the appropriate per annum salaries:

Job Profile	Salary
Actuary	USD 60,869
Budget Analysts	USD 59,168
Economists	USD 51,012
Cost Estimators	USD 51,518
Mathematicians	USD 41,636

Career Scope of B.Sc. Actuarial Science

B.Sc. Actuarial Science is one of the most diverse courses in terms of, not just employment opportunities across various domains, but also the scope of higher education for graduates.

Depending on the B.Sc. Actuarial Science specialisation opted for by the student, they will be able to find relevant jobs in their domain or find the appropriate course for further education.

The scope of a B.Sc. Actuarial Science is quite vast whether a graduate chooses to work or study further.

Courses after B.Sc. Actuarial Science

B.Sc. Actuarial Science graduates can opt for higher studies once they complete their undergraduate studies. There are plenty of options for a B.Sc. Actuarial Science graduates to choose from depending on their B.Sc. Actuarial Science specialisation.

The list below contains the names of courses that B.Sc. Actuarial Science graduates can pursue this after completing the course:

Career Options after B.Sc. Actuarial Science

There are a number of employment domains that B.Sc. Actuarial Science graduates can join immediately after graduation. B.Sc. Actuarial Science is one of the most diverse courses in terms of employment opportunities for graduates. The list of career opportunities available to B.Sc. Actuarial Science graduates are as follows:

Actuarial: Responsible for analysing financial activities and trying to solve the associated risks. An Actuary generally works in pension programs and insurance sectors.
Cost Estimators: Responsible for collecting and analysing data to estimate date and time, materials, and the money required to construct a building, product, or for providing any service.
Budget Analysts: Responsible for helping private and public industries for organising their finances by analysing budgets.
Mathematicians: Responsible for researching, understanding and developing mathematical principles.
Economists: Responsible for collecting and analysing data on goods and services by collecting research trends and evaluating economic issues.

Government Jobs for B.Sc. Actuarial Science Graduates

Bachelor of Science in Actuarial Science jobs salary varies with the experience and job position. This valuation depends on the specialisation option of the aspirant, his or her sector of employment, job profile, diligence, and dedication at the workplace as well as the seniority and experience of the aspirant.

B.Sc. Actuarial Science course jobs are available for graduates in the government sector as well. The job opportunities for B.Sc. Actuarial Science students are available in a large number of job roles owing to the diversity of the education. The average B.Sc. Actuarial Science jobs salary for graduates is around INR 2.5 - 3 LPA. The job designations include:

Top Government Hiring Roles	Salary
Mathematicians	INR 7 LPA
Economists	INR 6.5 LPA
Budget Analysts	INR 4 LPA

Source: Payscale

Private Jobs for B.Sc. Actuarial Science Graduates

Students who don’t wish to pursue a government job can build a career after B.Sc. Actuarial Science in the private sector. The job opportunities for B.Sc. Actuarial Science students in the private sector are endless. The average B.Sc. Actuarial Science jobs salary for graduates is around INR 5 - 8 LPA. The job designations include:

Top Private Hiring Roles	Salary
Actuary	INR 8 LPA
Auditors and Accountants	INR 5 LPA
Insurance Underwriters	INR 4 LPA

Source: Payscale

Job Opportunities Abroad for B.Sc. Actuarial Science Graduates

There are plenty of opportunities for graduates after B.Sc. Actuarial Science, in the international job market. The education and information they gain are so specialised that those graduates' demand is higher than the supply. The course is designed such that every student, irrespective of their specialisation, is employable in a foreign country.