Monash University

Bachelor of Commerce (Actuarial Studies)

Nationally Recognised Higher Education

Actuarial studies gives you the skills to identify, analyse and quantify risk, using mathematical, econometric and financial models. This major gives you the skills to pursue a career across a range of fields including traditional pension and life insurance, general insurance, enterprise risk management, fund management and econometric modelling. You will learn forecasting and econometric modelling tools and develop the technical skills to apply these tools to a wide range of business settings across the public and private sector. Subject to unit choices, you may meet some of the requirements of Part I of the Actuaries Institute professional qualification, which you will need to work as a professional actuary.

Delivery mode

Monash University offers this course through the following delivery modes:

On campus

Work with instructors and classmates in a supportive and collaborative environment.


Locations
  • Wellington Road, Clayton

Entry requirements

Domestic Students

  • There are no mandated entry requirements.

Recent secondary education

Australian VCE subjects

  • English: Units 3 & 4: a study score of at least 27 in English (EAL) or at least 25 in English other than EAL
  • Maths:Units 3 & 4: a study score of at least 25 in one of Maths: Mathematical Methods or Maths: Specialist Mathematics

IB subjects

  • English: At least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL
  • Maths: At least 4 in Mathematics: Analysis and Approaches SL or 3 in Mathematics: Analysis and Approaches HL or 3 in Mathematics: Applications and Interpretations HL

VET Study

All applicants must satisfy the equivalence of the VCE subject prerequisites.

VET Certificate IV, Diploma or Advanced Diploma graduates: Applicants will require a minimum 70% average to be considered for selection. Preference will be given to applicants whose prior studies are related to the course. Programs that involve competency-based assessment without grades or marks will not be sufficient to meet admission requirements.

Higher education

University: Applicants will require a minimum 70% average to be considered for selection. Preference will be given to applicants whose prior studies are related to the course. A minimum of two single units must be completed in order to meet minimum admission requirements.

Work and life experience

Applicants who have successfully completed Year 12 are eligible to apply for this course.

Applicants with no formal secondary or tertiary qualifications are not eligible to apply for this course. This course uses the entire academic record as part of its selection considerations.

If you don't have the entrance requirements above, you'll be able to gain entry to this course by completing the pathway Monash College Diploma of Commerce.

English language requirements

  • Academic IELTS/IELTS Online: Minimum overall score 6.5
  • Paper-based TOEFL: Minimum overall score 550
  • Internet-based TOEFL/TOEFL iBT Paper Edition: Minimum overall score 79
  • Pearson Test of English (Academic): Minimum overall score 58
  • C1 Advanced: Minimum overall score 176
  • C2 Proficiency: Minimum overall score 176

Recent secondary education

Australian VCE subjects

  • English: Units 3 & 4: a study score of at least 27 in English (EAL) or at least 25 in English other than EAL
  • Maths:Units 3 & 4: a study score of at least 25 in one of Maths: Mathematical Methods or Maths: Specialist Mathematics

IB subjects

  • English: At least 4 in English SL or 3 in English HL or 5 in English B SL or 4 in English B HL
  • Maths: At least 4 in Mathematics: Analysis and Approaches SL or 3 in Mathematics: Analysis and Approaches HL or 3 in Mathematics: Applications and Interpretations HL

VET Study

All applicants must satisfy the equivalence of the VCE subject prerequisites.

VET Certificate IV, Diploma or Advanced Diploma graduates: Applicants will require a minimum 70% average to be considered for selection. Preference will be given to applicants whose prior studies are related to the course. Programs that involve competency-based assessment without grades or marks will not be sufficient to meet admission requirements.

Higher education

University: Applicants will require a minimum 70% average to be considered for selection. Preference will be given to applicants whose prior studies are related to the course. A minimum of two single units must be completed in order to meet minimum admission requirements.

Work and life experience

Applicants who have successfully completed Year 12 are eligible to apply for this course.

Applicants with no formal secondary or tertiary qualifications are not eligible to apply for this course. This course uses the entire academic record as part of its selection considerations.

If you don't have the entrance requirements above, you'll be able to gain entry to this course by completing the pathway Monash College Diploma of Commerce.

English language requirements

  • Academic IELTS/IELTS Online: Minimum overall score 6.5
  • Paper-based TOEFL: Minimum overall score 550
  • Internet-based TOEFL/TOEFL iBT Paper Edition: Minimum overall score 79
  • Pearson Test of English (Academic): Minimum overall score 58
  • C1 Advanced: Minimum overall score 176
  • C2 Proficiency: Minimum overall score 176
Additional requirements may apply.

Course fees

Estimated Fee* $43,500 - $156,600 Fees are based on full-time study.
* Fees are indicative only and vary based on your circumstances and eligibility for government funding.
Standard Tuition:
$43,500
Full Fee Tuition:
$156,600
Enquire with Monash University to find out more.
Study mode On Campus
Duration 3 Years
Estimated fee* $43,500 - $156,600 Support may be available

Career opportunities

The Bachelor of Commerce (Actuarial Studies) will prepare you for the following roles.

Actuarial Consultant

An Actuarial Consultant provides expert advice on financial risk and uncertainty. You might work for insurance companies, consultancy firms, or gov...

Avg yearly income $119,600
Entry barriers Low

Portfolio Analyst

A Portfolio Analyst evaluates and monitors investment portfolios for individuals or organisations. You might work in a financial institution, inves...

Avg yearly income $78,000
Entry barriers Low

Actuarial Analyst

An Actuarial Analyst assesses financial risks using mathematics, statistics, and financial theory. You might work in an insurance company, consulta...

Avg yearly income $91,000
Entry barriers Low

Risk Analyst

A Risk Analyst analyses information and data to assess risk. You might work in banking, insurance or a range of other industries. Risk Analysts mak...

Avg yearly income $121,992
Entry barriers Low

Investment Analyst

An Investment Analyst evaluates financial data and trends to provide investment recommendations. You might work in financial institutions, investme...

Avg yearly income $83,200
Entry barriers Low

Actuary

An Actuary interprets information and data to assist with financial decision making. You might analyse data from a range of sources and assess the ...

Avg yearly income $124,800
Entry barriers Low

About Monash University

Monash is a modern, global, research-intensive university, delivering education and research excellence in Australia and across the Indo-Pacific.

We’re making a positive impact on today's global challenges – whether that’s by mitigating climate change, easing geopolitical insecurity or fostering healthy communities.

We've achieved an enviable reputation for research and teaching excellence in a short 60 years and are ranked among the world's top universities.