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An Actuary interprets information and data to assist with financial decision making. You might analyse data from a range of sources and assess the risk to an organisation. Actuaries may work in banking, insurance and other financial industries. You may make predictions and guide the development of policies and strategies.
Actuaries require expert analytical skills and must be able to prepare accurate information. You’ll need to be a good communicator and be able to convey your findings to a range of stakeholders. Actuaries should have strong attention to detail and be able to follow correct procedures. You might work as part of a larger team in this role.
There are 7 courses available for people who want to become an Actuary. These are the top 5 most popular courses.
Possible job outcomes:
The Master of Mathematical Sciences enhances and broadens knowledge in mathematics and statistics, focusing on their application in fields such as computer science, business, science, and psychology. The course develops skills in researching mathematical or statistical problems across different disciplines and in communicating complex information effectively. Special emphasis is placed on preparing graduates for the workforce, concentrating on the practical application of mathematics and statistics in various industries, thereby equipping students with versatile, industry-relevant skills..
Average duration: 24 months.
The Bachelor of Actuarial Studies (Honours) is tailored for graduates of the Bachelor of Actuarial Studies aiming to enhance their expertise and gain a competitive advantage. This course focuses on developing advanced analytical, problem-solving, and research skills through a significant research thesis. Actuaries play a vital role in measuring and managing risk, aiding businesses, governments, not-for-profit organisations, and individuals in making crucial future decisions. This degree equips students with highly sought-after skills in various professional settings. .
Average duration: 12 months.
The Bachelor of Mathematical Sciences (Honours) offers research training and advanced study in mathematics, statistics, data science, finance, and industrial optimisation. It emphasises independent learning and professional skill development, including effective time management through hands-on creative project management. The course encourages students to take initiative, work independently, and deepen their knowledge and analytical skills, qualities highly valued by employers..
Average duration: 4 years.
The Bachelor of Science (Mathematics) offers a thorough understanding of mathematical principles and theories. It equips students with strong analytical and problem-solving abilities across various mathematical branches, such as calculus, linear and abstract algebra, probability, statistics, and differential equations. These skills are foundational for fields like science, technology, engineering, and finance..
Average duration: 3 years.
The Bachelor of Science (Applied Mathematics) delves into advanced mathematical methods for real-world solutions. Students learn about mathematical modelling, applied mathematical analysis, and numerical methods essential in computer programming. Enhancing critical thinking, this course teaches logical, analytical, and creative problem-solving techniques. Specializations include natural resources mathematics and operations research. Practical experience from work placements readies graduates for careers in finance, engineering, technology, and sciences..
In Australia, a full time Actuary generally earns $1,920 per week ($99,840 annual salary) before tax. This is a median figure for full-time employees and should be considered a guide only. As you gain more experience you can expect a potentially higher salary than people who are new to the industry.
The number of people working in this field is likely to grow strongly in coming years. There are currently 1,800 people employed in this industry in Australia and many of them specialise as an Actuary. Actuaries may find work across all regions of Australia.
Source: Australian Government Labour Market Insights
A Bachelor of Actuarial Studies is an ideal qualification if you’re planning a career as an Actuary. This course will give you the skills to assess and manage financial risks to individuals, corporations and governments. You’ll cover topics including applied financial mathematics, probability and statistics, data visualisation, risk management and analytics and quantitative data science.
We’ll find nearby campuses and check if you’re eligible for funding in your state.
Here are some potential career pathways within mathematics and statistics and risk management. Click on an occupation to learn more about the role and the qualifications that can help you get started in this industry.
Mathematics and Statistics
Mathematician
$1,440 weekly pay
Statistician
$1,540 weekly pay
Actuary
$1,920 weekly pay
Biostatistician
Risk Analyst
Risk Management
Business Analyst
Business Data Analyst
$1,500 weekly pay
Credit Risk Analyst
Enterprise Risk Manager
Financial Analyst
$1,450 weekly pay
Financial Risk Manager
$1,550 weekly pay
Operational Risk Manager
Resilience Officer
Senior Business Analyst
Senior Risk Manager
$2,300 weekly pay
Learn more about Actuary courses in your area.