ANZSCO 2241

Actuaries, Mathematicians and Statisticians

Overview

EMPLOYED

11,800

PART-TIME SHARE

15%

FEMALE SHARE

44%

MEDIAN WEEKLY EARNINGS

$2,213

MEDIAN AGE

33

ANNUAL EMPLOYMENT GROWTH

200

About this data

Summary

Actuaries, Mathematicians and Statisticians develop and apply actuarial, mathematical, statistical and quantitative principles and techniques to solve problems in a range of fields such as business and finance, scientific and social research, and engineering.

Tasks

  • Defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
  • Examining financial projections for general insurance companies, finance companies, government and other organisations
  • Designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
  • Formulating mathematical models to simulate processes
  • Applying models to experimental observations, and adjusting and recasting the models
  • Using numerical analysis methods to develop algorithms and perform computations
  • Liaising with management and clients to determine the subject or area to be surveyed or examined
  • Specifying the data to be collected, and the methodology to be used in collection and analysis
  • Evaluating and describing the reliability and utility of source information
  • Analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns

ANZSCO Classification

Details

On this page

    Earnings and Hours

    Weekly Earnings (Before Tax)
    Source: Share of workers who work full-time hours: ABS, Labour Force Survey, 2023, four-quarter average, customised report.
    Average full-time hours worked per week: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Median full-time earnings per week and Median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2023, customised report.
    Note: median earnings data have not been produced for some occupations where there is a high standard error, and are published with "N/A" values.
    Earnings and Hours Actuaries, Mathematicians and Statisticians All Occupations
    Share of workers who work full-time hours 85% 70%
    Average full-time hours worked per week 42 hours 44 hours
    Median full-time earnings per week $2,213 $1,697
    Median hourly earnings $58 $43

    Industries

    Actuaries, Mathematicians and Statisticians work in industries like:

    Source: Ranked using ABS, Labour Force Survey, 2023, four-quarter average data, custom report.
    Note: industries that comprise less than 5% of an occupation have been suppressed.

    States and territories

    New South Wales

    51.6%

    Victoria

    27.5%

    Queensland

    6.5%

    South Australia

    4.7%

    Tasmania

    1.1%

    Northern Territory

    1.1%

    Australian Capital Territory

    4.3%

    Source: ABS Labour Force Survey, Detailed, August 2024, Jobs and Skills Australia trend data.

    Age and gender

    Age and Gender Profile
    Source: ABS, Labour Force Survey, 2023, four-quarter average, customised report.
    Age and Gender Actuaries, Mathematicians and Statisticians All Occupations
    Median age 33 years 39 years
    Female share of employment 44% 48%
    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Age Profile (% Share) All Occupations Actuaries, Mathematicians and Statisticians
    15–19 5.2 0.4
    20–24 9.1 9.5
    25–34 22.7 32.6
    35–44 22.3 27.3
    45–54 20.4 17.5
    55–59 8.8 5.9
    60–64 6.5 3.5
    65 and Over 4.9 3.1

    Education

    Visit

    • Course Seeker to search and compare higher education courses.
    • ComparED to compare undergraduate and postgraduate student experiences and outcomes.
    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Highest Level of Educational Attainment (% Share) All Occupations Actuaries, Mathematicians and Statisticians
    Post Graduate/Graduate Diploma or Graduate Certificate 12.2 46.2
    Bachelor degree 23.2 45.0
    Advanced Diploma/Diploma 11.1 2.0
    Certificate III/IV 19.5 1.3
    Year 12 15.9 3.4
    Year 11 4.0 0.2
    Year 10 and below 9.7 0.5
    On this page

      Occupation profiles data

      This file contains data displayed on the Occupation Profile pages.

      Use of data in this file must include the relevant attribution text provided.

      Occupation profiles data - November 2024.xlsx

      occupation_profiles_data_-_november_2024.xlsx946664

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      Australian and New Zealand Standard Classification of Occupations

      Australian and New Zealand Standard Classification of Occupations (ANZSCO) is the skill-based classification system used to categorise occupations in the Australian and New Zealand labour markets. ANZSCO provides a basis for the standardised collection, analysis and dissemination of occupation data. Visit the ABS website to learn how ANZSCO works. Jobs and Skills Australia displays data for occupations that are defined by ANZSCO 2013 Version 1.3.