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Undergraduate Actuarial Studies

A Challenging and Rewarding Career Path

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Hear from our Student - Stephanie Yap Abidin: a recent Graduate from the Bachelor of Commerce - Actuarial Studies with Bachelor of Applied Finance

The actuary's work is based on the application of mathematical, statistical, economic and financial analysis to a range of practical problems in long-term financial planning and management. They are also involved in the management and control of financial institutions.

At Macquarie, students can study actuarial studies at undergraduate level through a complete single degree program, the Bachelor of Actuarial Studies or as part of a double degree. Actuaries relate numbers to real life. All actuarial students complete units in economics, accounting, mathematics, statistics, finance and actuarial studies.

Macquarie's actuarial studies program is the longest running actuarial course of its kind in Australia and is accredited by the professional actuarial body.

Accreditation

Our Bachelor of Actuarial Studies has been recognised by:

  • The Institute of Actuaries of AustraliaThe Actuaries Institute
    The Actuaries Institute is the body that governs the conduct of the actuarial profession in Australia.

This means that if you complete the three year Bachelor of Actuarial Studies with grades of credit or above in the relevant units you are granted exemption from Part 1 of the Institute's professional exams. If you complete a four-year actuarial studies double degree with grades of credit or above in the relevant units you are granted exemption from Parts 1 and 2 of the Institute's professional exams.

Actuarial Degrees at Macquarie

Macquarie University offers you a complete single degree program the Bachelor of Actuarial Studies, which takes three years of full-time study OR one of the following double degrees, which take four years of full-time study.

Specific Degree Information:

What do you study in an Actuarial Studies degree?

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  • Advising on financial and statistical problems
  • Analysis of mortality and population-based rates
  • Contingent payments
  • Designing financial contracts
  • Effective communication management
  • Investment advice
  • Mathematics of finance
  • Measuring and managing risk
  • Measuring demographic influences on financial arrangements
  • Probabilities and statistics

Where can you go with an Actuarial Studies degree?

Macquarie's highly valued actuarial studies graduates include a Rhodes Scholar, several who have undertaken postgraduate studies in prestigious overseas universities such as Stanford and Harvard, a winner of the Business Review Weekly "Business Student of the Year" Award, and a number of past Presidents of The Institute of Actuaries of Australia.

The actuarial profession is one of the most globalised professions. Our graduates can be found in Europe, North America, Asia and New Zealand, with many finding employment in Kuala Lumpur, Singapore and Hong Kong.

Recent graduates are working in roles in financial services and consulting; with software providers developing financial models for the life insurance market; in mergers and acquisitions overseas; and directing strategy and supply chain consultancies.

Career paths which are in demand include:

  • Australian Taxation Office
  • Banking and Finance
  • Energy and Environment Consultant
  • Funds Manager
  • General and Health Insurance
  • Insurance Analyst
  • Investment
  • Life, General or Health Insurance
  • Management
  • Public Sector: Australia Prudential Regulation Authority,
  • Risk Management and Analysis
  • Superannuation Consultant
  • Wealth Management
  • Non-traditional areas such as IT, e-commerce, climate change

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How much can you earn with an Actuarial Studies degree?

According to the 2009 Macquarie University graduate destination survey, the average Actuarial Studies graduate starting salary is $51,000.

A senior professional can expect to earn in excess of $200,000 per annum.

According to My Career, the average salary for an actuary in 2013 is $95,000 per annum.

More information about a Actuarial Studies at Macquarie