How to become an Actuary
Analyses mathematical, statistical, demographic, financial or economic data to predict and assess long-term risks and potential impacts of future events.
Main tasks
- Applies and examines complex models to forecast future events that may have financial, social or environmental impacts
- Analyses data to identify opportunities to improve outcomes for companies, government, society and other organisations
- Formulates and proposes strategies to mitigate risks and uncertainties
- Designs policies, assesses risk and analyses investments primarily in life insurance, superannuation, health insurance, friendly societies and financial markets
- Ensures compliance with applicable laws, regulations and an ethical code of conduct
Ways in
- University: Mathematics & Statistics degrees
- TAFE and VET: Diploma of Superannuation (FNS50722); Advanced Diploma of Paraplanning (FNS60920)
- Licence or registration: Registration or licensing is required.
Pay · Outlook · AI and this job
- Typical full-time pay: $107,744 a year
- About 12,500 people work in this job group now, and about 15,900 are projected by 2035. (+27.5%)
- Many tasks in this job could be automated by AI. Jobs and Skills Australia rates its automation exposure as high.
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Questions people ask
How do I become an Actuary?
Ways in include: Mathematics & Statistics degrees; Diploma of Superannuation; Advanced Diploma of Paraplanning.
How much does an Actuary earn in Australia?
Median full-time pay is $107,744 a year (Jobs and Skills Australia).
Is an Actuary a growing career in Australia?
Yes. Employment is projected to grow 28% by 2035, from about 12,500 to about 15,900 people (Jobs and Skills Australia).
Do you need a degree to become an Actuary?
Usually. 95% of people in this job hold a bachelor's degree or higher.
Will AI change the work of an Actuary?
Many tasks in this job could be automated by AI. Jobs and Skills Australia rates its automation exposure as high.
Sources
- Jobs and Skills Australia: Occupation data (ANZSCO), from ABS Labour Force and Census (February 2026), CC BY 4.0, retrieved 2026-10-04
- Jobs and Skills Australia: Generative AI Capacity Study, interactive table data (September 2025), CC BY 4.0, retrieved 2026-10-04
- Jobs and Skills Australia: Employment Projections (Victoria University) (May 2025 to May 2035), CC BY 4.0, retrieved 2026-10-04
- Australian Taxation Office: Taxation Statistics, Individuals Table 15A (2023-24), CC BY 2.5 AU, retrieved 2026-10-04
Updated 2026-10-04