The average salary for an Actuary in Australia is AU$99,621.
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AU$59k - AU$172k
AU$3k - AU$31k
AU$970 - AU$21k
AU$60k - AU$194k
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Job Description for Actuary
Actuaries play a key role in insurance companies by serving as analysts who help determine whether the company should issue an insurance policy and what the premium for that policy should be. They use a great deal of statistical analysis in their work, as they examine huge amounts of data related to costing and trends. Insurance companies must always maintain their financial health, and the role of the actuary is to manage risk in the delicate balance between issuing policies (and the costs paid…Read more
- Analyze statistical data, such as mortality, accident, sickness, disability, and retirement rates and construct probability tables to forecast risk and liability for payment of future benefits.
- May ascertain premium rates required and cash reserves necessary to ensure payment of future benefits.
Explore the most common career paths for Actuary. Thickness and color of lines indicates popularity of movement from one job to the next. Visit our career path planner to research other job paths.
More common (> 20%)
Somewhat common (8 - 20%)
Less common (< 8%)
Actuary Job Listings
Popular Skills for Actuary
Skills in Financial Modeling, Pricing and Financial Analysis are correlated to pay that is above average. Skills that pay less than market rate include Microsoft Excel and Data Analysis.
Pay by Experience Level for Actuary
An entry-level Actuary with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of AU$72,292 based on 20 salaries. An early career Actuary with 1-4 years of experience earns an average total compensation of AU$81,149 based on 46 salaries. A mid-career Actuary with 5-9 years of experience earns an average total compensation of AU$115,807 based on 60 salaries. An experienced Actuary with 10-19 years of experience earns an average total compensation of AU$131,547 based on 38 salaries. In their late career (20 years and higher), employees earn an average total compensation of AU$135,000.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Actuary in their job title in Sydney, New South Wales earn an average of 15.4% more than the national average. The lowest salaries can be found in Perth, Western Australia (22.2% less), Brisbane, Queensland (18.3% less) and Melbourne, Victoria (9.7% less).
Years of Experience
This data is based on 174 survey responses.
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