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Actuary

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.

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.
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?

The most common salary  for an Actuary is between $120k and $140k
Source: SEEK job ads and SEEK Profile data

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 an undergraduate degree in 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 actuarial qualifications

Find a qualification that will prepare you to work as an Actuary.

Duration 2 yrs - 6 yrs
5 institutions offering this qualification
Choose an institution
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Source: SEEK job ads and SEEK Profile data

How do Actuaries rate their role?

Latest reviews from 1 Actuaries surveyed on SEEK

Latest reviews

5 out of 5Oct 2018
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...
Source: SEEK Role Reviews

What are the job opportunities for Actuaries?

Find out how the job market is trending

Job opportunities

Actuary jobs on SEEK
Source: SEEK

Projected job growth

National increase over next 5 years
7.8%
2018
2023
Source: LMIP. Actuaries, Mathematicians and Statisticians
Latest Actuary jobs on SEEK
Bluefin Resources Pty Limited
Sydney > CBD, Inner West & Eastern Suburbs
I am representing a reputable Global Insurance Company to seek for an Reserving Actuary to support their General Insurance division.
Bluefin Resources Pty Limited
Brisbane
A leading Insurer is now seeking a Life Actuary to support their Actuarial and Finance Advisory function.
QBE
Sydney > CBD, Inner West & Eastern Suburbs
Support the design and implementation plan of Actuarial strategic transformational initiatives across QBE Group
Ensure Recruitment - Seek Award Winner - Best Small Specialist
Sydney > CBD, Inner West & Eastern Suburbs
Life insurance, manage the actuarial function, excellent salary + an array of benefits. direct and retail life insurance for NZ based in Sydney.
Source: SEEK job ads and SEEK Profile data

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Source: SEEK job ads and SEEK Profile data

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