The average pay for an Actuary in Melbourne, Victoria is AU$92,510 per year. Most people with this job move on to other positions after 20 years in this career. Experience has a moderate effect on salary for this job.

AU$58,185 - AU$149,499
AU$58K
AU$92K
AU$150K
MEDIAN: AU$91,563
10%
50%
90%
AU$0AU$158K
Salary AU$58,185 - AU$149,499
Bonus AU$2,936 - AU$25,532
Profit Sharing AU$15,000
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
AU$58,079 - AU$158,556
  • Country: Australia
  • Currency: AUD
  • Updated: 18 Jan 2018
  • Individuals Reporting: 36

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 for them) and the exposure to financial risk for the company.

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Actuary Tasks

  • 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.

Actuary Job Listings

Key Stats for Actuary

Gender

Female
20 %
Male
80 %
Less than 1 year
11%
1-4 years
34%
5-9 years
32%
10-19 years
18%
20 years or more
5%

Experience Affects Actuary Salaries

▲35%

▲13%

National Average
AU$98,000

▼22%

Gender

Female
20 %
Male
80 %

Years of Experience

Less than 1 year
11%
1-4 years
34%
5-9 years
32%
10-19 years
18%
20 years or more
5%

Common Health Benefits

medical benefits
Medical: 29%
dental benefits
Dental: 24%
vision benefits
Vision: 5%
no benefits
None: 62%