Actuarial Science is a study area that uses math, statistics, probability, data, and financial theory to assess and manage financial risks. This field is especially useful in the insurance and investment industries, as both use data to understand uncertainty and plan for future outcomes.
Being an actuary may not sound as exciting as being an astronaut or as adrenaline-inducing as working in healthcare. However, this field is crucial for supporting financial stability and helping organizations prepare for risk. Actuaries help ensure that organizations have financial safety nets in case of financial calamities.
Because actuaries often work in insurance, consulting, banking, and finance, they can earn competitive salaries, especially after gaining professional certifications and training. Considering this, studying abroad can be beneficial for gaining broader experience and more extensive skills in the industry. Here are the best countries to study Actuarial Science.
Top Countries to Study Actuarial Science
1. Australia
Australia is among the top countries where you can study Actuarial Science. Many universities offer actuarial studies at the undergraduate level, and some also offer graduate study options. This gives you more choices when deciding where to apply. Some notable universities that offer Actuarial Science or Actuarial Studies programs include the University of Melbourne, Australian National University, Monash University, University of New South Wales, and Macquarie University.
Besides these universities, Australia is an excellent study destination because of its strong student environment. Government data showed that 622,043 international students studied in Australia in the year-to-date period to February 2026, so international students can find a large and active community. Most universities also offer support through international student centers and offices, which can help with academic concerns, living and accommodation questions, and even job-seeking.
And if you are a bit exhausted by the analytical aspects of being an Actuarial Science student, Australia offers its great outdoors to help you de-stress. The country has more than 500 national parks and 21 World Heritage properties, giving students many opportunities to explore nature and return to their studies refreshed.
2. Belgium
Unlike Australia, where you can select from many universities to pursue your degree, Belgium has fewer places for those looking to study Actuarial Science. However, it places great emphasis on academic excellence, with KU Leuven being one of the country’s strongest global universities. KU Leuven was ranked 59th in the QS World University Rankings 2027 and traces its foundation to 1425.
Universities in the country offer international opportunities to their students and are generally accommodating to international students. Tuition fees in Belgium vary by region, institution, program, and nationality. For example, recent official guidance for Flanders and Brussels lists fees of €1,157 for EU/EEA students and about €1,200 to €8,000 for non-EU/EEA students, depending on the program. In French-speaking Belgium, official guidance lists maximum annual tuition fees of €1,194 for students from the Wallonia-Brussels Federation or EU member states, while many non-EU students pay a total of €5,369. You should always check the official university tuition page before applying, especially if you are planning graduate studies in Belgium.
Finally, becoming an international student in Belgium also means you get to enjoy its vibrant city life. There are many cultural attractions here that you can explore by public transport or bicycle. Additionally, students can enjoy lively social and cultural activities after a full day of studying.
3. United States of America
The United States has long been popular for its world-class universities and academic programs. It is a common dream destination for international students looking to finish a degree that can support a flexible global career. Some notable universities for Actuarial Science in the United States include Brigham Young University, University of Illinois Urbana-Champaign, Ohio State University, Florida State University, and the University of Minnesota.
These universities offer undergraduate actuarial science pathways, and some also offer broader actuarial ecosystems or graduate-level opportunities, letting you explore various career options.
Besides working as an actuary, you can work toward careers such as financial analyst, insurance underwriter, or management analyst. In the United States, median annual wages in May 2024 were $101,350 for financial and investment analysts, $79,880 for insurance underwriters, $101,190 for management analysts, and $125,770 for actuaries.
Top universities in the United States also offer rigorous curricula that can help students prepare for professional actuarial exams. For this reason, the United States remains one of the best countries to study Actuarial Science.
4. Portugal
Portugal, a country located in Southern Europe, is home to a strong Actuarial Science program at the ISEG Lisbon School of Economics and Management at the University of Lisbon. ISEG’s Master’s in Actuarial Science is taught in English, lasts four semesters, is fully accredited by the UK’s Institute and Faculty of Actuaries, and is listed by the Society of Actuaries in the United States. ISEG is also a triple-accredited business school, holding EQUIS, AACSB, and AMBA accreditations, a distinction held by less than 1% of business schools worldwide.
The curriculum in Portugal also gives students the opportunity to gain practical experience before graduation. In ISEG’s Master’s in Actuarial Science, the final semester includes the Master’s Final Work, which can be completed through a dissertation, project, or internship.
Portugal also remains one of the more affordable study destinations in Western Europe, although costs vary significantly by city and lifestyle. International students should generally plan for about €500 to €1,000 per month for living costs, with Lisbon and Porto usually being more expensive than smaller student cities.
5. Hong Kong
Joining this list of the best places to study Actuarial Science is Hong Kong. One of its top universities, the University of Hong Kong, offers a Bachelor of Science in Actuarial Science that is accredited by the UK’s Institute and Faculty of Actuaries. HKU also lists approved courses for Validation by Educational Experience, or VEE. Students who take the approved HKU courses and receive at least a B- grade may be eligible to apply for the corresponding VEE credits from the Society of Actuaries. However, VEE credit is not the same as being exempt from all professional actuarial exams, and students should check the latest SOA and CAS rules before applying for credit.
Speaking of careers, Hong Kong also offers vast opportunities for Actuarial Science graduates. It is one of the world’s leading international financial centers and is home to many financial institutions. As such, you can find jobs in industries such as insurance, banking, risk management consulting, accounting, government and regulatory bodies, and investment banking. Graduates of the University of Hong Kong have a better starting point as they can benefit from a strong alumni and industry network, connecting with professionals already working in the field.
We hope this article on the best countries to study actuarial science was informative and insightful. To learn more about studying abroad, check out the Available Programs for International Students.
