Actuaries, Mathematicians and Statisticians

Snapshot

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. Econometricians are excluded from this unit group.

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Actuaries, Mathematicians and Statisticians
  • How many are employed in this occupation?
5,100
  • What are the average weekly earnings for full time workers ($ before tax)?
$1821
  • How does unemployment compare with other occupations?
Below average
  • What are the job prospects for this occupation?
Low
  • What will be the likely future employment growth for the next five years?
Strong growth
Top
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This career is suited to
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Tasks

This occupation may include associated occupations with varying 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

Job Titles

  • Actuary
  • Mathematician
  • Statistician

University

  • Bachelor of Mathematics
  • Bachelor of Science - Mathematics and Statistics
  • Bachelor of Commerce / Bachelor of Science

Other Careers In This Industry

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