BSc Actuarial Science (with a Placement Year)

The BSc Actuarial Science (with a Placement Year) at LSE is a highly analytical programme of study that blends rigorous academic study with applied professional experience. Delivered by the internationally recognised Department of Statistics, the programme draws on LSE’s strengths as a leading social science institution. Students benefit from exposure to cutting-edge research and interdisciplinary teaching, with insights drawn from statistics, mathematics, economics and finance. This broad perspective prepares students to analyse and manage risk and uncertainty in financial and insurance markets, while also understanding the wider social, regulatory, and ethical contexts in which decisions are made.

A distinctive feature of the programme is the integrated industry placement year, undertaken between the second and final years of study. The placement allows students to apply their learning in a professional setting, build practical skills, and gain direct insight into actuarial or statistical work. Students secure placements with major insurance, consultancy, and financial firms, supported by the department and LSE Careers. This professional experience enhances students’ readiness for the workplace, helping them refine career goals and often leading to graduate job offers. Graduates typically progress into high-earning roles across insurance (life and general), pensions, investment, banking, and consultancy.

The programme also offers the opportunity to earn exemptions from professional examinations with the Institute and Faculty of Actuaries (IFoA), supporting a faster route to qualification. Graduates leave not only with deep technical knowledge and real-world experience, but also with the ability to apply actuarial and statistical thinking to some of the most pressing global issues, including climate risk, financial resilience, and sustainable investment. Whether entering the private or public sector, students are equipped to contribute to data-driven, responsible decision-making in a complex and rapidly changing world.

This programme is also available as a three-year programme without a placement year: BSc Actuarial Science.

• Accredited by the Institute and Faculty of Actuaries (IFoA) for the purpose of exemption from some professional examinations
• Students may obtain exemption from some professional examinations of the Chartered Institute of Management Accountants (CIMA)’s CGMA® Professional Qualification through relevant pathway.

Learn more about this programme’s accreditation and exemptions

Watch The Joy of Stats,  a documentary that gives an insight into the exciting world of statistics.

For an introduction to mathematics as it's applied in economics and finance:

• M Anthony and N Biggs Mathematics for Economics and Finance (Cambridge University Press, 1996)

Much of university level mathematics and statistics is concerned with formal proofs and rigorous mathematical argument and this is necessary for some of the advanced mathematics required in finance, economics and other fields of application. For an introduction, we recommend:

• R Allenby Numbers and Proofs (Butterworth- Heinemann, 1997)
• P Eccles An Introduction to Mathematical Reasoning (Cambridge University Press, 1997)
• T Gowers Mathematics: a very short introduction (Oxford University Press, 2002)
• D Hand Statistics: a very short introduction (Oxford University Press, 2008)
• M Liebeck A Concise Introduction to Pure Mathematics (Chapman & Hall/CRC Mathematics, 2005)

Applicants are encouraged to take the Test of Mathematics for University Admission (TMUA). The test is not mandatory, however a good performance on the test may make an application more competitive.

You’ll take two compulsory courses in mathematics and statistics, alongside microeconomics and macroeconomics. Additionally, you’ll take LSE100.

Your second year involves six compulsory half unit courses.

In your third year, you'll undertake an industry placement in a professional setting, allowing you to apply your learning in practice and gain valuable experience in the actuarial, financial, or related sectors. Previous students from the Department of Statistics have completed placements with a range of leading organisations, including Deloitte, Jefferies, Lazard, Glencore, Opus, Natixis and SMBC, with salaries above £30,000.

While you're responsible for securing your own placement, you'll receive dedicated support from the department and LSE Careers. This includes guidance on CVs, applications, and interviews, as well as access to employer events and advertised opportunities. Our Placements Coordinator will work closely with you throughout the process to help you identify and secure a suitable placement.

During the placement year, you'll be required to complete a compulsory, non-credit-bearing course, which supports reflection on your learning and professional development.

Please note that while extensive support is available, all placement offers are made at the discretion of employers and cannot be guaranteed. If you're unable to secure a suitable placement by the end of the Spring Term in your second year, you'll be transferred to the three-year BSc Actuarial Science programme.

In the final year, you'll take two compulsory half-unit courses, and a semi-optional unit of course(s).

The Department of Statistics at LSE is one of the oldest and most distinguished in the UK.

The department has an international reputation for the development of statistical methodology and a long history of pioneering contributions to research and teaching. Many of the world’s most famous and innovative statisticians have been associated with LSE.

Our research spans four main areas – data science, probability in finance and insurance, social statistics, and time series and statistical learning. The department has close links with the Data Science Institute at LSE – an interdisciplinary institute that fosters the study of data science, with a particular emphasis on the social, economic and political contexts.

All aspects of our research were ranked world-leading or internationally excellent in the most recent Research Excellence Framework (2021), submitted jointly with the Department of Mathematics.

The department’s research strengths are reflected in our teaching curriculum. We have a comprehensive range of undergraduate and postgraduate degrees and doctoral research opportunities – hosted in a vibrant department with a supportive and friendly community of staff and students.

Our alumni enjoy successful careers in diverse areas, such as banking, accounting, finance, statistics, government and business consulting while others pursue postgraduate study or research. Our alumni frequently return to LSE to share their career experiences with current students.

Learn more about our programmes and research.

Department of Statistics

We consider each application carefully, taking into account all the details you’ve included on your UCAS form, such as:

• academic achievement, including predicted and achieved grades (also see specific information about this programme in the "entry requirements" above)
• subjects and subject combinations (also see specific information about this programme in the "entry requirements" above)
• your personal statement (new guidance for students applying for 2026/27)
• your teacher’s reference
• educational circumstances

You may also have to provide evidence of your English proficiency, although this is not needed at the application stage. See our English language requirements page.

We’re looking for students who demonstrate:

• outstanding mathematical abilities
• an interest in actuarial science
• involvement in related extra-curricular activities, such as mathematics competitions or Olympiads
• independent thinking
• intellectual curiosity and the ability to ask incisive questions
• creativity and flexibility in problem-solving
• self-motivation and a willingness to work hard
• great communication skills.

The 2026/27 tuition fee for home students hasn't yet been set. As a guide, the 2025/26 fee for home students is £9,535 per year. The home student undergraduate fee may rise in line with inflation in subsequent years.

Placement year

The Home Undergraduate fee for a placement year is set by the UK Office for Students - currently a maximum of 20 per cent of the full-time fee in the year the student starts their programme. As a guide, for home students starting the BSc Actuarial Science (with a Placement Year) in 2025/26, the fee for the placement year is £1,905.

The 2026/27 tuition fee for overseas students is currently under review and will be set in Summer 2025. As a guide, the 2025/26 fee for overseas students is £29,200 per year.

The overseas student undergraduate fee may rise in line with inflation in subsequent years. Once announced, the overseas tuition fee will remain at the same amount for each subsequent year of your full-time study regardless of the length of your programme. This information applies to new overseas undergraduate entrants starting their studies from 2026 onwards.

Placement year

The overseas undergraduate fee for a placement year is 20 per cent of the full-time programme fee in the year the student starts the programme. As a guide, for overseas students starting the BSc Actuarial Science (with a Placement Year) in 2025/26, the fee for the placement year is £5,840.

Formative coursework

All taught courses include formative coursework, which is not assessed. This helps prepare you for summative assessment. We use a wide range of formative assessment methods, such as essays, case studies, reports, quizzes and mock exams.

Feedback on coursework is an essential part of the learning experience. Class teachers mark formative coursework and feedback is normally given within two weeks – provided the work is submitted on time.

Summative assessment

This assessment counts towards your final course mark and degree award.

Summative assessment for most courses is by a three-hour examination in June. A small number of courses are assessed by project work. Your degree award will be based on assessment over all three years, with an emphasis on the second and third years.

You’ll receive feedback on any summative coursework as part of the assessment for individual courses (except for final submitted dissertations). Feedback will normally be provided before the examination period.

Assessment on individual courses can change from year to year. See details of the current formative coursework and summative assessment for each course in the relevant course guide.

Find out more about LSE’s teaching and assessment methods.

Graduates from the programme will be able to work on a range of financial services organisations from companies which operate in the life and general insurance sector through to accounting firms, specialist actuarial consultancies, investment banks , data analytics, statistics, civil service and graduate studies.

Further information on graduate destinations for this programme

From CV workshops through to careers fairs, LSE offers lots of information and support to help you make that all-important step from education into work.

Many of the UK’s top employers give careers presentations at the School during the year and there are numerous workshops covering topics such as job hunting, managing interviews, writing a cover letter and using LinkedIn.

See LSE Careers for further details.