LIFE AS AN ACTUARY
We live in a time where risks abound, where trust is at a premium and where the challenge and potential of a data-driven world loom large. That’s why actuaries are more in demand than ever.
Become an actuary and you can look forward to a career where:
- You can work on big real-world issues – everything from financial management, designing insurance products for people and property to policy work on climate change, health, retirement and much more.
- You work in a profession that is highly regarded for its skills, ethics, and professionalism.
- Your career is global and future-proof thanks to the global recognition given to Australian actuaries and the profession’s growing focus on data and innovation.
HOW TO BECOME AN ACTUARY
The actuarial education program in Australia is made up of three parts:
- The Foundation Program – the first stage in the actuarial qualification pathway, focused on Actuarial Statistics, Actuarial Mathematics and Business, Finance and Economics.
- The Actuary Program – complete these four subjects and you will be an actuary and awarded the designation Associate.
- The Fellowship Program – the Fellowship Program adds depth and specialisation to your professional education and the Fellow designation offers further career opportunity.
YOUR JOURNEY TO QUALIFICATION
To qualify as an actuary, you need to complete both your study and professional experience requirements. Usually, you would complete your earlier studies at one of our accredited universities, prior to continuing your training with the Actuaries Institute.
As a student member of the Institute, you may have your exemptions granted for subjects you’ve completed if your grades meet the required academic standards. More information about this process is on our Foundation Program exemptions and Actuary Program exemptions pages.
At university, depending on your degree, you complete the Foundation Program and two Actuary Program subjects in 3-5 years. An additional 2.5 years of study is typically required to complete the Actuary Program and Fellowship Program subject requirements. Overall, a minimum of 5.5 years (full time equivalent) study would typically be required to complete the Education Program.
The Fellowship Program Banking subject is expected to be offered in Semester 1 2024.
IMPORTANT - TRANSITION ARRANGEMENTS
The Actuarial Education Program is always evolving to make sure actuaries’ skills and knowledge meet the changing needs of our clients and our communities. For students who commenced actuarial studies prior to 2019, read about the Transition Arrangements that may apply.
OPPORTUNITIES TO CONTINUE YOUR PROFESSIONAL DEVELOPMENT
The Institute is building new certification opportunities that enhance our Continued Professional Development offerings.