byGaganDeep
Updated on - 8 Aug, 2024
The Master of Commerce (M.Com) in Actuarial Science is a postgraduate degree program in the field of actuarial computation and usage in areas like insurance, analytics, and quantitative finance. The M.Com Actuarial Science course in India takes two years of full time education. Education includes higher levels of understanding actuarial and statistical analyses, financial modeling, risk management, and economics. Course content areas include skills such as higher level of spreadsheet usage, statistical software and data modeling.
The entrance tests accepted for the admission of M.Com Actuarial Science are CAT, MAT, XAT, CMAT, ATMA and the respective state level entrance exams. Some other colleges may also give direct admission based on the candidate’s CSIR-NET / UGC-NET / GATE / direct PhD entrance test scores. It is common to be admitted based on the academic performance of the applicant in their previous undergraduate degree in actuarial science, statistics, mathematics or any other quantitative field for which the applicant must have achieved a pass with a percentage of between 50-60 percent or its equivalent.
| Feature | Details |
|---|---|
| Full Form | Master of Commerce in Actuarial Science |
| Duration | 2 Years |
| Course Level | Postgraduate |
| Eligibility | Bachelor's degree in Commerce, Mathematics, Statistics, or related field with a minimum of 50% marks, Entrance exam performance |
| Top Colleges | Christ University, Bangalore; Amity University, Noida; University of Mumbai; Bishop Heber College, Tiruchirappalli; Narsee Monjee Institute of Management Studies, Mumbai |
| Entrance Exam | CAT, MAT, University-specific entrance exams |
1. A bachelor’s degree in any discipline and must have secured minimum 50% of the total marks for any recognized University.
2. It would be focused on Mathematics as one of the subjects at 10+2 or graduation level. Certain universities have specific requirements for this course; for instance, candidates must have done Statistics subject.
3. Based on the University’s policy for the exam score of the students, qualifying TANCET/CAT/XAT score for the entrance exam.
4. Some institutes have been known to have preferences for candidates with prior working experience in similar fields.
5. Age and years of experience do not apply but the most common applicants are those in the age range of 21- 30 years.
6. Documents such as IELTS /TOEFL for the foreign students who wish to pursue education in the United Kingdom.
| College Name | Location | Fees (INR per year) |
|---|---|---|
| University of Delhi (Delhi School of Economics) | Delhi | 10,000 |
| University of Mumbai | Mumbai, Maharashtra | 15,000 (approx.) |
| Andhra University | Visakhapatnam, Andhra Pradesh | 12,000 (approx.) |
| Osmania University | Hyderabad, Telangana | 10,000 (approx.) |
| University of Calcutta | Kolkata, West Bengal | 12,000 (approx.) |
| University of Mysore | Mysore, Karnataka | 15,000 (approx.) |
| Banaras Hindu University (BHU) | Varanasi, Uttar Pradesh | 15,000 (approx.) |
| University of Pune | Pune, Maharashtra | 15,000 (approx.) |
| Madras Christian College (MCC) | Chennai, Tamil Nadu | 18,000 (approx.) |
| Christ University, Bangalore | Bangalore, Karnataka | 50,000 (approx.) |
| College Name | Location | Fees (INR per year) |
|---|---|---|
| Symbiosis School of Economics (SSE), Pune: | Pune, Maharashtra | 5-6 Lakhs |
| Birla Institute of Management Technology (BIMTECH), Greater Noida: | Greater Noida, Uttar Pradesh | 4-5 Lakhs |
| FORE School of Management, New Delhi: | New Delhi | 8-10 Lakhs |
| T.A. Pai Management Institute (TAPMI), Manipal: | Manipal, Karnataka | 6-8 Lakhs |
| ICFAI Business School, Hyderabad: | Hyderabad, Telangana | 3-4 Lakhs |
| St. Xavier's College, Mumbai: | Mumbai, Maharashtra | 4-5 Lakhs |
| NMIMS School of Business Management, Mumbai: | Mumbai, Maharashtra | 5-6 Lakhs |
| School of Economics, Amity University, Noida: | Noida, Uttar Pradesh | 3-4 Lakhs |
| Christ University, Bangalore: | Bangalore, Karnataka | 50,000 (approx.) |
| Institute of Insurance and Risk Management (IIRM), Hyderabad: | Hyderabad, Telangana | 6-8 Lakhs |
| College Name | Location | Average CTC (INR lakhs) |
|---|---|---|
| Delhi School of Economics (DSE), University of Delhi | Delhi | 8-12 |
| University of Mumbai | Mumbai, Maharashtra | 6-9 |
| Andhra University | Visakhapatnam, Andhra Pradesh | 5-8 |
| Symbiosis School of Economics (SSE), Pune | Pune, Maharashtra | 7-10 |
| FORE School of Management, New Delhi | New Delhi | 8-11 |
| T.A. Pai Management Institute (TAPMI), Manipal | Manipal, Karnataka | 6-9 |
| Birla Institute of Management Technology (BIMTECH), Greater Noida | Greater Noida, Uttar Pradesh | 5-8 |
| Christ University, Bangalore | Bangalore, Karnataka | 6-9 |
| Specialization | Average Salary (INR lakhs) |
|---|---|
| Life Insurance | 6-9 |
| Non-Life Insurance | 5-8 |
| Risk Management | 6-9 |
| Financial Engineering | 7-10 |
| Investment Analysis | 7-11 |