ANZSCO 224111

Actuaries

Overview

EMPLOYED

2,400

PART-TIME SHARE

11%

FEMALE SHARE

34%

MEDIAN WEEKLY EARNINGS

N/A

MEDIAN AGE

33

ANNUAL EMPLOYMENT GROWTH

N/A

About this data

Summary

Actuaries analyse mathematical, statistical, demographic, financial or economic data to predict and assess the long-term risk involved in financial decisions and planning.

Tasks

  • Defines, analyses and solves complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
  • Examines financial projections for general insurance companies, finance companies, government and other organisations
  • Designs new types of policies, assesses risks and analyses investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas

ANZSCO Classification

Details

On this page

    Hours worked

    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Note: those who were classified as "Employed, away from work" at the time of the 2021 Census (accounting for approx. 8% of total employment), have been excluded from the "Average full-time hours worked per week" denominator.
    Hours worked Actuaries All Occupations
    Share of workers who work full-time hours 89% 64%
    Average full-time hours worked per week 43 hours 44 hours

    Industries

    Actuaries work in industries like:

    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Note: industries that comprise less than 5% of an occupation have been suppressed.

    States and territories

    New South Wales

    72.0%

    Victoria

    17.6%

    Queensland

    4.7%

    South Australia

    0.8%

    Tasmania

    0.3%

    Northern Territory

    0.0%

    Australian Capital Territory

    2.4%

    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.

    Age and gender

    Age and Gender Profile
    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Age and Gender Actuaries All Occupations
    Median age 33 years 40 years
    Female share of employment 34% 49%
    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Age Profile (% Share) All Occupations Actuaries
    15–19 5.2 0.0
    20–24 9.1 15.2
    25–34 22.7 39.4
    35–44 22.3 26.5
    45–54 20.4 11.5
    55–59 8.8 3.3
    60–64 6.5 1.9
    65 and Over 4.9 2.1

    Education

    Registration with the Actuaries Institute is required.

    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 qualification completed by workers in this job (in any field of study).
    Qualifications needed by new workers might be different from the qualifications of workers already in the job.
    Note: the sum of the educational attainment categories may not add up to 100% due to the exclusion of non-descriptive categories such as not stated responses.
    Highest Level of Educational Attainment (% Share) All Occupations Actuaries
    Post Graduate/Graduate Diploma or Graduate Certificate 12.2 25.1
    Bachelor degree 23.2 70.0
    Advanced Diploma/Diploma 11.1 0.3
    Certificate III/IV 19.5 0.1
    Year 12 15.9 2.0
    Year 11 4.0 0.0
    Year 10 and below 9.7 0.0
    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

      Download

      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.