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Major

Actuarial Studies

    Where will this take me?

    Overview

    Career outcomes

    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.

    PROFESSIONAL RECOGNITION

    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.

    ACTUARIAL SECTORS
    • Banking and finance
    • Capital and risk management
    • Data science
    • Insurance and superannuation
    • Investments and asset management

    Learn more about the Centre for Actuarial Studies.

    YOUR FIRST JOB
    IN 5–10 YEARS
    IN 15–20 YEARS
    • Actuarial analyst
    • Actuarial consultant
    • Head of portfolio strategy
    • Pricing associate
    • Data engineer
    • Head of pricing and profitability
    • Portfolio analyst
    • Insurance pricing manager
    • Life insurance appointed actuary

    Graduate pathways from this major

    GRADUATE RESEARCH

    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

    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

    Doctoral Programs

    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:

    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.