Masters in Actuarial Science in Canada is a 1–2 years postgraduation degree program in the area of mathematics and statistics. University of Calgary, Simon Fraser University are some top universities in Canada offering the course. International students need to have IELTS score of 6.5, TOEFL score of 83 for admission. The annual tuition fees for Master of Actuarial Science in Canada ranges from 8,102.4 CAD (498078.84 INR)- 27,520 CAD (1691736.97 INR). An Actuarial Science graduate can expect job opportunities with an average base salary of 77,000 CAD (47,33,252.37 INR). Students with specific eligibility, can get fully funded scholarships as well.

Masters in Actuarial Science in Canada Highlights

In this section, a quick overview of MSc Actuarial Science in Canada is tabulated.

Course name	Masters in Actuarial Science in Canada
Course type	Full-time or part-time
Duration	1- 2 years
Degree requirements	Bachelors degree with 55% marks in related field with a 3.0 GPA
English language proficiency requirements	IELTS: 6.5 TOEFL: 83 PTE: 53 Duolingo English test: 120
Annual tuition fees	8,102.4 CAD (498078.84 INR)- 27,520 CAD (1691736.97 INR)
Average annual salary	77,000 CAD (47,33,252.37 INR)
Top recruiters	Sun Life, WTW, Deloitte, Mercer and others

Why Study Masters in Actuarial Science in Canada

The reasons of why students are choosing to study masters in Actuarial Science in Canada are mentioned below

• Every year, the number of students enrolling in actuarial science programs is increasing. This sector is expected to grow by 6% than last year.
• Students can get high paying jobs in Canada with high salary of 77,000 CAD (47,33,252.37 INR)
• Companies need more risk assessors to measure calculative risks, so that the demand of actuarial science graduates is also increasing
• Canada is known to have less tuition fees that UK or US

Masters in Actuarial Science in Canada Specializations

Actuarial science is a vast area of study with many specializations in it. Some popular specializations to study in Canada for Masters in Actuarial Science in Canada include the following.

• Accountancy: This specialization deals with managing organizational accounts and keep accounting records.
• Economics: It is designed to teach students the recent trend of changes in the economy
• Finance: This specialization educated students on how to manage financial transactions
• Risk Management: This specialization enables students to estimate risks involved in taking organizational steps
• Mathematics: It is one of the core specializations of Actuarial science that educates students in the field of Mathematics
• Statistics: Another major specialization that enables students to solve business problems using statistical and analytical techniques.

Masters in Actuarial Science in Canada vs MS in Actuarial Science in US

This section shows the difference between Masters in Actuarial Science in Canada and US

Tuition Fees of Masters in Actuarial Science in Canada

In this section, the tuition fees of cheapest universities in Canada offering Masters in Actuarial Science is tabulated.

University name Annual tuition fees University of Waterloo 18,351 CAD (1128091.03 INR) Simon Fraser University 8,102.4 CAD (498078.84 INR) Laval University 8,378.84 CAD (515072.43 INR) University of Windsor 10,182.71 CAD (625961.73 INR) Concordia University 14,372.28 CAD (14372.78 INR) University of Calgary 11,210.04 CAD (689114.79 INR) University of Regina 1,928.20 CAD per credit hour (118532.24 INR) Dalhousie University 7,613.80 CAD (468043.13 INR) University of Manitoba 6,497.62 CAD per term (399428.20 INR) University of Toronto 27,520 CAD (1691736.97 INR)

NOTE: 1GBP= 105.72 INR as on August 18, 2023

Admission Process for Masters in Actuarial Science in Canada

In this section, the admission process of Masters in Actuarial Science in Canada is explained. Application fees, deadlines, admission requirements are tabulated below. However, the admission process include

• Shortlisting the top universities
• New account registration by visiting the official website of the chosen university.
• Filling out the necessary personal and academic information.
• Checking the minimum eligibility criteria for Masters in Actuarial Science in Canada
• Check English language proficiency scores requirements like IELTS, TOEFL score
• Uploading the required documents for the course
• Payment of the application fee

Eligibility Criteria for Masters in Actuarial Science in Canada

The eligibility criteria for admission to Actuarial Science Masters in Canada are as follows

• A 4 years bachelor’s degree in Actuarial Science or any other relevant field
• A minimum of 3.0 GPA on a scale of 4.0 GPA, which is equivalent to 83-86% aggregate.
• Optional GRE or GMAT scores.
• IELTS score of 6.5
• TOEFL score of 83

Documents Required for Admission to MSc Actuarial Science Canada

The below-mentioned documents are required for admission to Masters in Actuarial Science in Canada

• Original academic transcripts.
• 2-3 Letters of Recommendation(LOR).
• Statement of Purposes(SOP).
• Personal statement.
• Updated CV.
• Original bank statements.
• A valid copy of passport and ID proof
• Documents of scholarship (if applied)
• Canada student visa application

Masters in Actuarial Science in Canada Application Fee

Application fees required by top Canadian universities for admission to Actuarial science masters program in Canada are tabulated below

University name	Application fees
University of Waterloo	125 CAD (7684.13 INR)
Simon Fraser University	125 CAD (7684.13 INR)
Laval University	94.50 CAD (5809.20 INR)
University of Windsor	125 CAD (7684.13 INR)
Concordia University	100 CAD (6147.30 INR)
University of Calgary	145 CAD (8913.59 INR)
University of Regina	100 CAD (6147.30 INR)
Dalhousie University	115 CAD (7059.78 INR)
University of Manitoba	100 CAD (6147.30 INR)
University of Toronto	125 CAD (7684.13 INR)

NOTE: 1GBP= 105.72 INR as on August 18, 2023

Masters in Actuarial Science in Canada Application Deadline

The application deadlines for the course of Masters in Actuarial Science in Canada for International students are as follows

University name	Application deadline
University of Waterloo	January 15, 2024 for September 2024 admission
Simon Fraser University	Closed for Fall 2023 Applications will open on October 2023 for Fall 2024 admission
Laval University	Closed
University of Windsor	April 1 (closed)
Concordia University	February 1 (closed)
University of Calgary	January 15 (closed)
University of Regina	Closed
Dalhousie University	January 15 (closed)
University of Manitoba	February 1 (closed)
University of Toronto	January 22

Masters in Actuarial Science in Canada Admission Requirements

In this section, university-wise admission requirements for Masters in Actuarial Science in Canada are tabulated.

University name	GRE or GMAT requirements	English language requirements
University of Waterloo	Not required	IELTS score: 7.0 TOEFL: 90
Simon Fraser University	GRE score: not accepted	IELTS: 7.0 TOEFL: 93 PTE: 65
Laval University	Optional	IELTS: 6.5
University of Windsor	Accepted	IELTS: 6.5 TOEFL: 83 PTE score: 65
Concordia University	Not required	IELTS: 6.5 TOEFL: 90 Duolingo English test: 120 PTE score: 61
University of Calgary	GRE or GMAT score: Not required	IELTS: 7.0 TOEFL: 93
University of Regina	Optional	IELTS: 6.5 TOEFL: 20 in each band PTE: 53 Duolingo English test: 120
Dalhousie University	GRE score: optional	IELTS: 7.0 TOEFL: 92 PTE: 65
University of Manitoba	Not accepted	IELTS: 6.5 TOEFL: 86 PTE: 58
University of Toronto	Optional	IELTS: 6.5 TOEFL: 100 Duolingo English test score:120

Masters in Actuarial Science in Canada Cost of Attendance

Students must be aware of the cost of studying in Canada before applying to any Canadian university. However, university-wise cost of attendance for Masters in Actuarial Science is tabulated below.

University name	Yearly cost of living
University of Waterloo	34920 CAD (2143716.10 INR)
Simon Fraser University	14661.48 CAD (900058.73 INR)
Laval University	32,730 CAD (2009273.43 INR)
University of Windsor	10,017 to11,718 CAD (614937.12- 719360.40 INR)
Concordia University	21716 CAD (1333131.12 INR)
University of Calgary	9892 CAD (607263.45 INR)
University of Regina	23,640- 24,140 CAD (1451244.23- 1481938.91 INR)
Dalhousie University	45672 CAD (2803774.39 INR)
University of Manitoba	30794 CAD (1890423.64 INR)
University of Toronto	14960 CAD (918384.68 INR)

NOTE: 1GBP= 105.72 INR as on August 18, 2023