Where will this take me?
Actuaries tackle many types of problems, most of which involve uncertainty about the future. Bringing your strong analytical skills, mathematical abilities and science to crystal-ball gazing can lead to a rewarding career as a financial adviser to a range of organisations, including: health insurance companies; banks and other financial institutions; capital and risk management; superannuation funds; and governments.
Melbourne is one of only six institutions in Australia that has full accreditation from the Actuaries Institute. To qualify as an actuary in Australia, you must pass (or be exempt from) all three parts of the professional accreditation process prescribed by the Actuaries
Institute. Parts I and II can be undertaken as part of your Bachelor of Commerce (Honours) degree. The Actuaries Institute administers Part III.
The Faculty of Business and Economics is designated as a Center of Actuarial Excellence by the US Society of Actuaries. You can gain waivers from some US Society of Actuaries exams by gaining Part I qualifications via the Bachelor of Commerce.
- Banking and finance
- Capital and risk management
- Data science
- Insurance and superannuation
- Investments and asset management
|YOUR FIRST JOB||IN 5–10 YEARS||IN 15–20 YEARS|
Head of portfolio strategy
Head of pricing and profitability
Insurance pricing manager
Life insurance appointed actuary
Graduate pathways from this major
Completing the Accounting major means you are very well placed for further study in honours and graduate research in a range of business and economics areas. Research training preparation within the honours year, a postgraduate diploma or a masters degree will be required as preparation for graduate research.
Honours offers you an opportunity to undertake an additional (fourth) year of specialised study in one of the following disciplines; Accounting, Actuarial Studies, Economics or Finance. You’ll complete a number of advanced level subjects and also undertake a minor thesis or major research report. Learn more
If you are interested in a pathway to academia or becoming an industry expert in a business discipline you’ll need to undertake further study. Melbourne Business School offers Doctoral Programs (2-year Master of Commerce + 3-year PhD) in Accounting, Economics, Finance and Decision, Risk and Financial Services and a 3-year Doctoral Program in Actuarial Studies. Doctoral Programs for Management and Marketing are currently offered as a 2-year Master of Commerce + 3-year thesis package.
GRADUATE DEGREE PATHWAYS
If you wish to continue professional studies at graduate level, this major leads to a range of graduate degree pathways:
- Business and economics-focused graduate study in degrees including: accounting, actuarial studies, applied econometrics, business analytics, entrepreneurship , economics, finance, management, management (accounting), management (marketing) , management (finance), and management (human resources).
- Graduate degree pathways that will prepare you for a wide range of professions including law, teaching and health sciences
- Further graduate study to develop your skills outside of your discipline in areas such as humanities and government.
Graduate Degree Packages
If you’re a high achieving Commerce applicant and are confident in your study plan, you can secure a pathway straight from Secondary School into Bachelor of Commerce / Master of Engineering or Bachelor of Commerce / Juris Doctor with a Graduate Degree Package by applying via VTAC. These packages are available to both domestic and international students who complete an Australian Year 12 or the International Baccalaureate (IB) in Australia, as well as Australian citizens who complete an Australian Year 12 or the IB outside Australia for entry in 2019 or later. If you don’t receive the required ATAR for a Graduate Degree Package, as a University of Melbourne student, you’ll still be able to access a huge number of graduate study pathway options.