Maths, data and statistics

How to become an actuary

Official title: Actuary

Also called: Actuarial scientist, Actuarial analyst, Appointed actuary, Valuation actuary, Pricing actuary, Risk modelling actuary, Actuarial data scientist

Actuaries predict and assess the financial risks and impacts of future events. They work in areas like insurance, superannuation and investment.

Main tasks

Assess financial risks
Analyse data to predict future events
Develop risk management plans
Use applied mathematics
Negotiate contracts
Write financial reports
Use data to give pricing recommendations

How to become one

You need a qualification to become an actuary. You usually need University Entrance to do the study or training for this job. Required: to complete exams and professional requirements through an international actuary body. Other requirements: a Bachelor of Commerce (Actuarial Science) or similar; a Bachelor of Science (Actuarial Science) or similar; a bachelor's degree in mathematics and statistics, banking and finance or similar area; a Postgraduate Certificate in Actuarial Science; experience in similar work; to be a member of the New Zealand Society of Actuaries.

See the full Tahatū profile

Ways in

University: Business & Commerce degrees, Offered by 6 universities in New Zealand
University: Mathematics & Statistics degrees

Pay · Past change · AI and this job

Most common pay: $99,000 to $244,000 a year (median $157,000), a TEC estimate before tax.
Lower: $68,000 a year · Upper: $336,000 a year
TEC's pay figures are estimates only. TEC says they must not be used to set pay, in pay negotiations or in visa applications.
Change in the number of people doing this job between the 2018 and 2023 Censuses: Decrease (TEC). This is past change, not a forecast.
People employed in the group Actuaries, Mathematicians and Statisticians: 1,557 at the 2018 Census and 1,398 at the 2023 Census (-10.2%). Past change, not a forecast.
Generative AI could change many tasks in this job, which usually reshapes the work more than it replaces it, by the ILO's global estimate.

Who does this work

About 290 people did this job at the 2023 Census (TEC).
In the group Actuaries, Mathematicians and Statisticians, 44% of workers are female (sex at birth, 2023 Census).
Where people in the group Actuaries, Mathematicians and Statisticians work (2023 Census): Auckland 34.3%, Wellington 32.5%, and Canterbury 17.6%.

Questions people ask

How do I become an actuary?

How much does an actuary earn in New Zealand?

The Tertiary Education Commission estimates median pay at $157,000 a year, before tax. Most common pay is $99,000 to $244,000 a year.

Has the number of people working as an actuary grown in New Zealand?

It has shrunk: TEC records a decrease in the number of people doing this job between the 2018 and 2023 Censuses. This is past change, not a forecast.

Will AI change the work of an actuary?

Generative AI could change many tasks in this job, which usually reshapes the work more than it replaces it, by the ILO's global estimate.

Sources

Tertiary Education Commission (Tahatu Career Navigator): Tahatu career ideas: descriptions, tasks, pay estimates, people employed, employment change 2018 to 2023, entry requirements, registration, interest scores (Site scrape 2026-10 (816 career ideas, sitemap lastmod 2026-10-01)), CC BY 4.0, retrieved 4 October 2026
Stats NZ (via Figure.NZ): Census totals by topic for individuals 2013, 2018, 2023 (CEN23_TBT_004): employed by occupation, ANZSCO V1.3, summed to unit group (2023 Census (CEN23_TBT_004)), CC BY 4.0 (Stats NZ), CC BY 3.0 NZ (Figure.NZ), retrieved 4 October 2026
Stats NZ (via Figure.NZ): Census 2023: employed by regional council, occupation (ANZSCO V1.3 unit group) and sex at birth (2023 Census), CC BY 4.0 (Stats NZ), CC BY 3.0 NZ (Figure.NZ), retrieved 4 October 2026
International Labour Organization, Generative AI and Jobs: A Refined Global Index of Occupational Exposure (ILO Working Paper 140, Gmyrek et al.) (ILO Working Paper 140, May 2025, Annex Table A1), CC BY 4.0, retrieved 4 October 2026

This content is sourced from the Tertiary Education Commission through the Tahatū Career Navigator website (www.tahatu.govt.nz) and used under the CC BY 4.0 licence. All or some of the information has been modified by Peernovo. TEC has not approved, endorsed or tested these modifications. TEC will not be held accountable for any errors within this content.

Qualification information from NZQA, used under CC BY 3.0 NZ.

This work is based on/includes Stats NZ's data which are licensed by Stats NZ for reuse under the Creative Commons Attribution 4.0 International licence. Census data via Figure.NZ.

Includes information from O*NET OnLine by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), used under the CC BY 4.0 license. O*NET is a trademark of USDOL/ETA. USDOL/ETA has not approved, endorsed, or tested these modifications.

Sources: Tertiary Education Commission, Tahatū Career Navigator (career ideas, pay estimates, entry requirements and study options, CC BY 4.0, modified by Peernovo); Stats NZ, 2023 Census (via Figure.NZ) and the National Occupation List (CC BY 4.0); NZQA qualification information (CC BY 3.0 NZ); O*NET interest scores (CC BY 4.0); ILO global generative AI exposure index (CC BY 4.0). Links between career ideas and ANZSCO groups, degree fields and broad job groups are Peernovo's.

These results are not official statistics. They have been created for research purposes from the Integrated Data Infrastructure (IDI), which is carefully managed by Stats NZ.

Graduate outcomes: these results are not official statistics. They have been created for research purposes from the Integrated Data Infrastructure (IDI), which is carefully managed by Stats NZ.

Updated 4 October 2026