Here, you’ll find answers to some of our Frequently Asked Questions about Actuaries. If you cannot find the information you are looking for, please contact us.
What is an Actuary?
Actuaries are among the brightest people in the business world.
They apply their mathematical expertise, statistical knowledge, economic and financial analysis and problem solving skills to a wide range of practical business problems.
Actuaries help organisations to understand the long-term financial implications of their decisions, many of which can affect individuals as well as the wider community.
What do they do?
Actuaries apply their skills in a variety of areas including:
- Measuring and managing risk and uncertainty
- Designing financial contracts
- Advising on investments
- Measuring demographic influences on financial arrangements
- Advising on a wide range of financial and statistical problems.
Where do Actuaries work?
Actuaries work in a broad range of industries including:
- Banking & Finance
- Energy & Environment
- General Insurance
- Life Insurance
- Risk Management
- Superannuation & Employee Benefits
- Wealth Management
How many Actuaries are there in Australia?
In Australia, the number of qualified actuaries as at January 2013 was 2,191
How much do Actuaries earn?
A newly qualified Actuary can earn in excess of $100,000 per annum, senior experienced professionals earn in the vicinity of $200,000 per annum.
How do I become an Actuary?
To qualify as an Actuary, you must complete the Institute's Education Program. You can learn more about the Institute’s Education program in the Education & Professional Development section of this site.