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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 11 courses available for people who want to become an Actuary. These are the top 5 most popular courses.
Possible job outcomes:
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 Commerce (Actuarial Studies) equips students to pinpoint, scrutinise, and measure risks through mathematical, econometric, and financial frameworks. Emphasising skills applicable to fields such as pension, insurance, risk management, and fund management, this course imparts forecasting and econometric modelling expertise. Graduates will be adept at deploying these skills in diverse business environments across both the public and private sectors..
Average duration: 3 years.
The Bachelor of Science (Honours) (Applied Mathematics) provides an in-depth exploration of mathematical techniques and their practical applications across diverse fields. Students engage with advanced mathematical theories, deepening their analytical skills and capacity to solve complex problems. This course prepares graduates for a range of careers requiring mathematical expertise or for further academic pursuits in specialised areas of mathematics..
Average duration: 12 months.
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..
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
Actuarial Analyst
$1,250 weekly pay
Applied Mathematician
Applied Statistician
Bioinformatician
Biomathematician
Computer Vision Engineer
Econometrician
Mathematical Modeller
Mathematician
$1,440 weekly pay
Operations Research Analyst
Physicist
Quantitative Analyst
Quantitative Researcher
Statistical Analyst
Statistician
$1,540 weekly pay
Actuarial Consultant
$1,500 weekly pay
Actuary
$1,920 weekly pay
Biostatistician
Computational Physicist
Financial Engineer
Risk Analyst
Risk Management
Business Analyst
Business Data Analyst
Credit Risk Analyst
Enterprise Risk Manager
Financial Analyst
$2,125 weekly pay
Financial Risk Manager
$1,550 weekly pay
Operational Risk Manager
Resilience Officer
Risk Manager
Senior Business Analyst
Senior Risk Manager
$2,300 weekly pay
Learn more about Actuary courses in your area.