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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 4 courses available for people who want to become an Actuary.
Possible job outcomes:
The Master of Actuarial Practice responds to the growing need for expertise in risk assessment, innovative business solutions, and complex data analysis. It is ideal for those passionate about mathematics and eager to develop advanced quantitative analysis skills for problem-solving in business environments. This course prepares students for a career as qualified Actuaries, professionals increasingly sought-after for their ability to interpret and understand diverse quantitative information beneficial to organisations. .
Average duration: 24 months.
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..
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.
Looking for a career in risk management, insurance, superannuation, or actuarial research? The Bachelor of Actuarial Studies will teach you how to assess and manage financial risks to individuals, corporations, and governments. Your studies begin with an introduction to macro and microeconomics as well as the key modelling tools used by actuaries. You’ll then explore financial mathematics, probability and statistics, data visualisation, risk management and analytics, and quantitative data science. Even better, you can complete this degree alongside complementary disciplines including commerce, economics, and information systems. Enquire now for admissions criteria, actuarial career outcomes, and universities near you that offer the Bachelor of Actuarial Studies..
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.
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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.