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Actuary

Identify, evaluate and minimise risk in a business setting.

What's it like to be an Actuary?

An Actuary uses mathematical, economic, statistical and financial analysis and knowledge to identify, evaluate and minimise risk and uncertainty in a variety of business settings.

Actuary

Tasks and duties

  • Examining and analysing statistics related to risks and calculate the possible financial consequences of those risks.
  • Estimating future probabilities of events and establish premiums, expected rates of return or contributions for clients and companies.
  • Ensuring companies have appropriate finance available to minimise the impact of risk and uncertainty.
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Actuaries are individuals with excellent problem-solving skills, in addition to possessing superior analytical, statistical and mathematical abilities.

Actuaries tend to be employed within the industries of insurance, superannuation, fund management, investments, education, health financing and banking.

What can I earn as an Actuary?

All
NSW
VIC
WA
QLD
TAS
SA
NT
ACT
The most common annual salary in AUS for an Actuary is between $150k and $170k
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Source: SEEK job ads. Salaries include superannuation.

How to become an Actuary


SEEK Learning
To work as an actuary in Australia, you need a degree in the field in addition to completing the Institute of Actuaries education program.

  1. Complete a Bachelor of Actuarial Studies or a Bachelor of Commerce (majoring in Actuarial Studies) at an accredited university.
  2. The governing body for actuaries is the Australian Institute of Actuaries. To qualify as an actuary in Australia you must ensure that you complete an accredited education program that covers the Institute’s “Part II syllabus”, although exemptions are possible based on your university grades. Then complete the four-module Part III, which is offered by distance through the Actuaries Institute, where you learn how to apply the concepts, processes and technical skills of being an actuary.
  3. Complete the three-year practical experience requirement and the professionalism course in order to become an accredited associate actuary.

Explore related qualifications

SEEK users who have worked as an Actuary have studied these qualifications.

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ACT

Bachelor of Actuarial Studies

This qualification provides skills to analyse and manage risk within the financial planning and management industry.

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Source: SEEK job ads and SEEK Profile data

Upskill with an online short course

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How do Actuaries rate their role?

Latest reviews from 1 Actuaries surveyed on SEEK

Work-life balance
5.0
Job satisfaction
5.0
Career progression opportunities
4.0
Job security
5.0
Pay / Salary
5.0
Variety of work
5.0

Latest reviews

All
Positive
Negative
Oct 2018
My job is AA rated!
Reviewer's Qualification
Fellow of the Institute of Actuaries of Australia
Experience
10+ years
Organisation size
Medium (20-199 employees)
Specialisation
Finance
The good things
My AA role is internal - I am an employee. Some AAs are external consultants. I have been both in my career and internal is best as I not only do the statutory work but the pricing, reinsurance and h...
The challenges
My role suits me very well - I think of myself as an “actuarial decathlete” as I have to do the analysis, report writing, presentations, researching new methods, etc. The only dlight downside is that...
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Source: SEEK Role Reviews

What are the job opportunities for Actuaries?

Find out how the job market is trending

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NSW
VIC
WA
QLD
TAS
SA
NT
ACT

Job opportunities

Actuary jobs on SEEK
60
Jobs on SEEK right now
Source: SEEK

Projected job growthAlert

National increase over next 5 years *
9.7%
2019
2024
Source: LMIP. Actuaries, Mathematicians and Statisticians

Latest Actuary jobs on SEEK

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Source: SEEK job ads

Browse related careers by interest

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Source: SEEK job ads and SEEK Profile data