Amity is one of the few universities in India that offers Bachelors in Actuarial Science. And many passionate students who want to pursue actuarial science after 12th have this doubt, how good is BSc in Actuarial Science from Amity? and Is it worth to pursue BSc in Actuarial Science from Amity?
I did BSc in Actuarial Science from Amity and cleared 4 papers during my graduation CT1, CT5, CT3 and CB1. So, in this article, I would try to provide all the necessary factors that you must be aware of before deciding to pursue BSc in Actuarial Science from Amity or not.
Hope it helps and do let me know if it does and if you have any questions. Feel free to message me Arpit Surana (LinkedIn)
There are 6 semesters, each semester will have an average of around 10 subjects, combined with internal tests and assignment for each subject followed by exams at the end of the semester. Classes are held 5 days a week from 9-2, depending on the day it can also last till 5 pm or get over by 12pm also. Amity is very strict regarding attendance; 75% attendance is a must with an exception of 70% due to any medical reasons. The batch size is around 15-30 students.
Pros: When each day you have classes at 9, your life tends to become disciplined, you can have a proper schedule and timeline that you could follow.
Cons: Due to strict attendance rules, you need to attend the classes regularly. It is tiring and especially if you are living in far areas like Dwarka, Rohini or Gurgaon because you need to travel 4 hours daily. Regular classes also makes it difficult to manage your actuarial papers along with college exams.
Amity covers almost full syllabus of CM1, CS1, CB1 and CB2 and a few chapters of CM2 and CS2, many Insurance topics are also covered in detail such as – Motor, Health, Life, Group Insurance, Retirement Benefits and General Insurance. This syllabus is distributed among 6 semesters. You can visit https://amity.edu/course-list.aspx?fd=Actuarial%20Science&Programs=Graduate for complete syllabus.
Apart from these, there are 3 compulsory subjects in all the university courses i.e. English & Communication, Psychology (team building, stress management, etc.) and Foreign Language (either of one French/Spanish/German/etc.). Actuarial Application in I.T is also a common subject in all the 6 semesters which involves Basic Excel, Advanced Excel, Basics of R, MS Access & SQL.
Pros: Syllabus is really really good, most of the parts are directly applicable and I think it’s better than pursuing Bachelors in Maths or Stats or any other degree.
Cons: You need to study subjects that are not directly applicable, such as English, foreign language, etc. It’s good to study them but they are not directly applicable.
The syllabus of each paper is distributed in many semesters, so if you are thinking that you can clear papers only on the basis of college studies, then you need to wait very long for that. For example- Syllabus of CS1 is completed in 4 semesters and CM1 is completed in 5 semesters.
Amity regularly conducts many guest lectures or seminars regarding actuarial science in a year. They are really helpful as they gave a great insight into industrial knowledge and help you to enhance your actuarial knowledge. But, also sometimes you need to attend seminars that are not directly applicable such as Banking seminars, guest lecture on risk management, etc.
Amity doesn’t provide Campus Placements for BSc in Actuarial Science; it only provides for Masters in Actuarial Science. However, if any company is willing to recruit Masters as well as Bachelors, then only companies come. However, in the past, it has been observed that there are a few companies that hired one or two bachelor’s students along with master students.
Most of the faculties are very friendly, knowledgeable and always ready to help. Most faculties are young and very supportive. I am not saying that they are not strict but they are always ready to help you.
Infrastructure is really good! The library is the best part of Amity; although you won’t find many actuarial related books, but for self-studies, it’s really good. The campus is fully Air conditioned and equipped with free unlimited Wi-Fi. Yay!
There are plenty of opportunities for sports, debate clubs, photography clubs, etc. You name it and there would be at least two-three committees or clubs in amity. For example, I was part of the Debate Club and Research Committee.
I am not mentioning other details such as fees, eligibility, detailed course syllabus, campus facilities, etc. Since I think, all these things easily available on https://www.amity.edu/asibas/A28831.asp, the purpose of this article is to just provide information of the most important factors that you must be known before deciding to pursue Bachelors in actuarial science from Amity or not.
For me, BSc in Actuarial Science from Amity was 200% worth it. I saw an exponential development of my knowledge and my personality that largely contributes to what I am today. Amity was a turning point in my life, and I am fortunate that I choose Amity.
The biggest advantage of Amity is its course structure, which is very relevant. The I.T subject is also very helpful and relevant to the Actuarial field.
The biggest disadvantage of Amity is 75% strict attendance, 10 subjects – tests and assignments and 9-2 classes which makes it hard to manage with your actuarial exams.
So, in my opinion, it all depends on how well you can manage your time. In my batch, few students were coming from very far locations at least 4 hours of travelling daily but they still manage to clear 3-4 papers with a good CGPA. Conversely, a few of them were living very close to Amity but couldn’t clear any paper in 3 years.
Remember, the degree itself has no such added advantage, it won’t help you to land a job, its the actuarial exams that would ultimately help you to land a good career. So, it all boils down to how focused, passionate and enthusiastic you are and how well you can manage your time. If you can, trust me Amity would be a blessing. If you can’t, then it can be a curse also.
At last, Its important to say that, don’t solely make your decision to choose Amity or not for BSc in Actuarial Science based on this article. It’s always better to frame your decision based on multiple perspectives. It helps you to make healthier and more rational decisions.
Hope it helps. May you have an awesome day ahead.
P.S: This is me, enjoying the proud day of becoming a graduate.