Actuarial studies Business
Because they help financial institutions analyse and manage risk, actuaries are key to helping businesses all over the world to prosper.
Macquarie has the longest-running actuarial studies program of its kind in Australia. You’ll learn how to apply mathematical, statistical, economic and financial analysis to a range of practical problems in long-term risk management.
|Bachelor of Actuarial Studies||97.05|
|Bachelor of Actuarial Studies with the degree of Bachelor of Science||97.00|
|Bachelor of Applied Finance with the degree of Bachelor of Actuarial Studies||97.25|
|Master of Actuarial Practice|
|Bachelor of Actuarial Studies||96.00|
|Bachelor of Actuarial Studies with the degree of Bachelor of Science||96.00|
|Bachelor of Applied Finance with the degree of Bachelor of Actuarial Studies||96.00|
|Master of Actuarial Practice|
We've partnered with the Actuaries Institute to make sure you graduate ready to be an actuarial professional.
Macquarie University is recognised by the Society of Actuaries as a Centre of Actuarial Excellence.
Prameet Jamnadas (graduated 2005) is currently a management consultant at Bain & Company. After graduating from Macquarie's actuarial program, Prameet joined Bain's Sydney office, and in his time there, worked across a broad range of strategic and operational issues for the company's corporate clients, while also spending six months in the company's Private Equity Group. After completing transfers to Bain's New Delhi and San Francisco offices, Prameet took a leave of absence to undertake his MBA at Harvard Business School, and also spent one year as a Teaching Fellow in Harvard University's Department of Economics. After graduating with his MBA in 2010, Prameet returned to Bain & Company, this time in the company's Chicago office.
A degree in actuarial studies can open you doors to career opportunities in the insurance, financial services and banking industries, as well as in the quantitative modelling of consumer behaviour and data analytics. Many of our graduates work in international financial centres such as London, New York, Singapore and Shanghai in fields like:
- funds management
- insurance analyst
- life, general and health insurance
- risk analyst
- superannuation consultancy
Typically with a postgraduate degree, a newly qualified actuary would earn around $95,000 – $110,000 per annum, with at least an $11,000 increase per year for several years (according to the Actuaries Institute). More senior, experienced professionals earn in the vicinity of $200,000 per year*.
* Source payscale.com, June 2015
Macquarie University's PACE program provides opportunities for undergraduate students to gain practical experience by working with industry partners on mutually beneficial projects.
Make the best start for your future career by adding practical experience to your university degree and working alongside professionals in your chosen field. Roger transformed the knowledge of his actuarial degree to the workplace with his PACE activity with 3M.
"The experience of interning at an international company like 3M was highly rewarding. More specifically, working as an Actuarial Intern in the Health Care Division has given me a precious opportunity to apply the technical knowledge I learned at university to solving practical business problems and gain industrial exposure.
During the eight designated weeks, I had the pleasure of working alongside many senior professionals on the team in order to fully understand the problems we faced with the pricing process and devise effective solutions accordingly. By the end of my internship, I had built an efficient, working contract
pricing model for the Health Information Systems team using my actuarial expertise. The tool I created is now being used by the Sales as well as the Marketing teams at 3M for pricing software contracts, on a daily basis. In addition, I have also completed various other tasks and numerous presentations
in front of different teams and several senior managers during my time as an intern. All of these experiences have not only developed my professional skills in various aspects but also given me a great sense of achievement, learning that actuarial experts play an important role at the heart of all businesses.
I would highly recommend PACE to all students at Macquarie University and I sincerely hope that students can keep benefiting from these meaningful, well-established programs like I did." – Roger
No matter what you decide to study at Macquarie, PACE has an opportunity available for you. Learn more about the opportunities available for you through PACE.