Master of Commerce [M.Com] (Actuarial Science)

2 Years
Degree
Post Graduation
Full Time

MCom in Actuarial Science 2024: Admission Process, Eligibility, Entrance Exam

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

MCom Actuarial Science Course Highlights 2024

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

MCom Actuarial Science Course Eligibility 2024

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.

Top 10 Government MCom Actuarial Science Colleges 2024

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.)

Top 10 Private MCom Actuarial Science Colleges 2024

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

MCom Actuarial Science Course Placements 2024

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

MCom Actuarial Science Course Jobs and Salary 2024

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

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