Actuaries evaluate risk and opportunity – applying mathematical, statistical, economic and financial analyses to a wide range of business problems.

Insurance, superannuation, wealth management, investments, health financing and banking, are the more readily recognised fields in which actuaries work, but they also work in new, high-growth fields, such as data analytics, energy resources and the environment. Many actuaries also hold executive positions in the operational management of financial institutions. 


Job Demand: High

Average weekly wage: $1,769

Where you could work:

Banks - NAB, ANZ, Commonwealth Banks, Wespac 

Insurance Companies - Suncorp

Superannuation Companies - Sunsuper

Actuaries do the following tasks:

  • Defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
  • Examining financial projections for general insurance companies, finance companies, government and other organisations
  • Designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
  • Formulating mathematical models to simulate processes applying models to experimental observations, and adjusting and recasting the models using numerical analysis methods to develop algorithms and perform computations
  • Evaluating and describing the reliability and utility of source information
  • Analysing and interpreting data, and producing relevant statistics to describe trends and patterns