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Study Actuarial Science in Malaysia

Course Duration:

3 - 4 Years

Average Salary:

RM 1,800 - 2,600

Average Fees:

RM 40,000 - 100,000

Job Demand:

What is Actuarial Science?

Studying Actuarial Science in Malaysia involves utilising mathematical and statistical methods to assess risk in the insurance and finance industries.

As a profession, you are awarded a working environment that is intellectually stimulating and challenging with continuous growth in technical skills and ability. Do you like helping people? Do you want to help them get good healthcare and maybe protect themselves in old age? Do you want to create economic growth in Malaysia? Do you like taking calculated risk because you’re good at analysing one before going through with it? Lastly and most importantly, do you know who an Actuary is? (H

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What are the subjects you will study in a Actuarial Science?

Additional Maths

Mathematics

Bahasa Malaysia

Probability and Statistics A

Probability and Statistics B

Linear Algebra

Finance and Financial Reporting

Why should you study Actuarial Science?

With so many degree options out there, here are some top reasons why you should study Actuarial Science:

Wide Range of Career:

With an Actuarial Science degree, you can work in different fields such as life insurance, health department, bank, property and even make structures for life insurance policies.

Less competition

Most people are not aware that there is such a thing as ‘Actuarial Science’ and how important it is, hence, those venturing in this field have a wide range of opportunities when applying for a job.

Good with Numbers

Not everyone is gifted with a brain that loves calculating. So if you’re one of those that can’t imagine life without Maths and Statistics, then this field is perfect for you.

What are industry experts saying about Actuarial Science?

What are the entry requirements for an Actuarial Science course?

Diploma in Actuarial Science

SPM : Minimum of 5 credits, with good grades in Mathematics & Additional Mathematics

O-Levels : Minimum of 5 credits, with good grades in Mathematics & Additional Mathematics

Degree in Actuarial Science

A-Level : ABB including A in Mathematics

STPM : ABB including A in Mathematics

UEC : 6A including A1 in Mathemathics and Advanced Mathematics

SAM : ATAR 90

SMA 3 (Indonesia) : 8

IB Diploma : 28 points

Any other relevant qualification with high level of attainment in mathematics recognised by the Malaysian Government :

  • Foundation in Science

ABBC – A in Mathematics, B in Physics, B in Chemistry, C in Academic English/Study Skills

  • Foundation in Business

ABBC – A in Mathematics, B in Accountancy and Finance, B in Business Management, C in Academic English/Study Skills

  • Diploma in the relevant field as recognised by the University’s senate
  • Diploma deemed recognised by the Malaysian Government
  • Any other relevant qualification deemed recognised by the Malaysian Government

Important Note: Actuarial Science consists of very difficult examinations. Even those who memorised, crammed and mastered every detail of the textbook find it difficult to ace it. .

How does your education pathway look like?


  • SPM
  • Pre-U / Diploma (2 years)
  • Degree (3 - 4 years)
  • Postgraduate

It is not necessary for you to do your postgraduate or be a professional but doing so would help you advance in your career. You can opt to work straight after degree.

What skills do you need for a course in Actuarial Science?

Logical

You know that 1+1 = 2. You know that if you had to take 3 things with you to a deserted island, one of them would be a boat. You know the chicken came before the egg. You don’t know all this because you’re smart, you know these things because it’s simple logic.

Good communicator

You have no issues conveying a complicated assignment to the rest of the class because you’ve mastered the art of simplifying complicated information into simple terms everyone can understand, without skimping on the details.

Good with Numbers

While everyone else dreaded the day the Additional Mathematics exam fell on, that was your easiest paper. You didn’t really have to study much either, because by just listening in class, you were able to pick up all the skills needed. While some may have been born with a silver spoon in their mouths, you were born with a calculator in yours.

What career options do you have with an Actuarial Science degree?

Who are all the top recruiters in Malaysia?

Below are a few of the top Actuarial Science firms in Malaysia.

Where can you study Actuarial Science in Malaysia?

Do note that all courses should be accredited by the Malaysian Qualifications Agency (MQA). Click here to check if the course you choose is accredited.


For a start, here are some of the most popular Actuarial Science schools in Malaysia.

Top Universities/Colleges to study
Actuarial Science courses

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