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Actuary

ANZSCO 224111

An Actuary analyses data to assess financial risks and inform decision-making in sectors like banking and insurance, requiring strong analytical skills.

  • This role has a low level of AI exposure. Core skills such as adaptability, social intelligence, and complex physical tasks remain beyond the capabilities of current AI.
      • NSW
      • ACT
      • VIC
      • QLD
      • WA
  • 10,000 people employed in Australia
AI exposure data adapted from Felten, Raj & Seamans (2021). Shortage data sourced from Jobs and Skills Australia (2024).

How do I become a actuary

Get qualified to work as a actuary with a course recognised across Australia. Speak to a training provider to learn more.

Common questions

In Australia, a full time Actuary generally earns $2,400 per week ($124,800 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.

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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

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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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Further reading

What is the Role of a Business Analyst?

14th October 2022

What Skills Does a Data Analyst Need?

25th November 2022

Career Spotlight: Accounting and Taxation Professionals

9th October 2019

Actuary careers

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.