Study Actuarial Science in Germany
Actuarial science, in both academic and professional aspects, deals with the insurance industry's mathematical and statistical significance. Although most jobs related to actuarial science can employ candidates with a bachelor’s degree in Germany, most universities offer master’s degrees in actuarial science if the bachelor's degree is in another field. Postgraduate degrees in actuarial science can include an MBA degree, math, or actuarial science.
Some of the most popular countries in Germany for pursuing a career in actuarial science are Koln, Munchen, Mannheim, Frankfurt. From around 47 universities in Germany, more than 5,000 academic research papers included the subject of actuarial science. Most German universities have ranked in the top 50 European countries for research performance in the same field.
To secure a job in Germany in the actuarial science industry, a bachelor's in any of the following majors can suffice, along with prior experience in either internships or full-time employment. Some of the bachelor's degrees related to actuarial science are:
- Actuarial Science
- Any other analytical subject
Additionally, most German companies and employers in the actuarial science industry may require, and it is recommended, that candidates finish some coursework before employment. Coursework may include pieces of training to gain skills in writing, economics, computer science, public speaking, and communication skills.
One of the main requirements for studying or getting a job in actuarial science in Germany is The German Association of Actuaries or Deutsche Aktuarvereinigung (DAV) qualification. DAV is a mathematics course taught and tested in German universities and can count as a replacement for a diploma with equivalent qualifications. To qualify for an actuary DAV, one must complete several examinations, the scores of which can help in future employment and higher education studies.
Why Study Actuarial Science in Germany?
With a degree in actuarial science, graduates can implement the much-needed skills gained at university in their future careers. An actuarial science degree offers the ability to manage a private or corporate financial state as well as insurance and retirement plans.
A few reasons to study actuarial science in Germany include:
- After getting a professional certification in actuarial science in Germany, one can get employment in some of the most prestigious companies in the most popular cities.
- Finance graduates can highly benefit from an actuarial science degree, considering the high demand for professionals in Germany’s industry.
- With an actuarial science degree, you can benefit from numerous skills, such as problem-solving, analytical skills, communication skills, critical thinking, etc.
- German higher education institutions offer excellent quality education and cheap to no tuition fees for international students — not forgetting the great benefits of partnerships with big companies.
- Graduates of actuarial science in Germany can benefit from the large demand for employees in this industry. Most jobs available can be found on, ”actupool,” where many German university graduates seek help.
- German universities that offer actuarial sciences are known to deliver an excellent teaching method, where project-based learning is crucial.
- Studying actuarial science in Germany is free of tuition, compared to the UK and US, where tuition fees are significantly more expensive.