Master's in Actuarial Science
ISEG - Lisbon School of Economics and Management offers this 24-month English-taught master's in Lisbon, ranked #27 by FT — Masters in Finance. The Masters in Actuarial Science requires a solid academic background in Mathematical Analysis, Probability and Statistics.
What it takes to get in
Entry bar: moderate. Driven by specific prior degree and prerequisite coursework.
- English requirement
- All candidates should have an excellent command of the English language, written and spoken.
- Prior degree
- The Masters in Actuarial Science requires a solid academic background in Mathematical Analysis, Probability and Statistics. This normally implies holding a bachelor's degree, either national or foreign institutions, in Mathematics, Mathematics with Economics, Statistics or some of the bachelor's degrees in Economics, Finance or Management. Applicants from other fields will be considered on a case-by-case basis.
- Accepted degrees
- MathematicsMathematics with EconomicsStatisticsEconomicsFinanceManagement
- Documents required
- Certificate of the undergraduate degree
- Academic Transcript
- Curriculum vitae
- Motivation Letter
- English Diploma
- Reference Letter
What it costs
Plan for roughly €27k–€30k per year all-in as a Non-EU student — tuition plus a normal Lisbon student life.
Living in Lisbon →
What you'll study
120 ECTS over 24 months — core foundations, then a track of your choice, then a thesis.
Core courses
Computation Tools for Actuaries · Financial Markets and Investments · Financial Mathematics · Probability and Stochastic Processes · Risk Models · Generalized Linear Models · Loss Reserving · Risk Theory · Survival Models and Life Contingencies · Time Series · Models in Finance · Solvency Models
Assumed knowledge
Rankings
- FT — Masters in Finance 2025#27
- FT — European Business Schools 2025#67
Visa & life in Portugal
The practical stuff — what's allowed, what's funded, what to expect after you graduate.
- Student visa
- Visa D4 (Residence Visa for Study). Fee €170 · 4-8 wks processing · ~€760/month proof of funds. Residence permit ~€155 after arrival. AIMA replaced SEF in 2023; expect delays.
- Post-study work
- Renewable Residence Permit for Work/Business — 12 months. No employer sponsorship required during the search window. No dedicated graduate-only job-seeker permit; graduates renew study permit yearly while seeking work or apply for work residence on hire.
- Scholarships
- Camões Institute Scholarships · FCT PhD Studentships (€1,144/month) · University merit awards
- English-taught master's
- ~350 English-taught master's; Nova SBE, Católica Lisbon, IST Lisbon lead. Source: studyinportugal.edu.pt.
About ISEG - Lisbon School of Economics and Management
Common questions
Is Master's in Actuarial Science at ISEG - Lisbon School of Economics and Management taught in English?
Yes — the programme is taught entirely in English.
How much does Master's in Actuarial Science at ISEG - Lisbon School of Economics and Management cost?
International tuition is €8,500 per year. Over the full 24-month programme that's roughly €17,000 in tuition, before living costs.
What is the acceptance rate at ISEG - Lisbon School of Economics and Management?
Not published. Most European public universities don't release acceptance rates — admission is requirements-based, so if you meet the stated requirements your application gets a full review rather than competing against a fixed quota. Based on the published requirements (specific prior degree, prerequisite coursework), the entry bar here is moderate.
Do I need GRE or GMAT scores?
No — GRE and GMAT scores are not required for this programme.
Can I work in Portugal after graduating?
Post-study work rights in Portugal depend on your nationality — EU/EEA citizens can work freely, and most EU countries offer a job-search permit for non-EU graduates. Check the national immigration authority for current rules.
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