Careers in Actuarial Studies
Actuarial graduates are in demand from a wide range of employers in increasingly diverse areas. Most graduates, particularly those who aim to go on to complete the professional examinations and qualify as Fellows, gain employment with life, general and health insurance companies, and actuarial consulting ﬁrms that service these institutions. Many graduates gain employment in banks, fund managers, management consulting ﬁrms and governments. Data analytics and risk management roles are also areas of increasing employment for actuarial graduates. Jobs are initially as actuarial, financial, data, or quantitative analysts. Later positions are as consultants, Appointed Actuary or more senior management roles.
The UNSW actuarial degree and combined degrees provide opportunities to broaden and deepen your study of business including ﬁnance, accounting, business analytics, information system and economics majors and courses, and as a result actuarial graduates are also employed in banks and investment management, in roles that include:
- Project, infrastructure and structured finance in investment banking
- Data analytics, especially in predictive analytics, machine learning and artificial intelligence (AI)
- Risk management and derivatives related roles in capital markets, financial markets and treasury
- Trading related roles in fixed interest or equity derivatives markets
- Stockbroking, especially as financial sector analysts
- Quantitative research and performance analytics in funds management
Opportunities also exist in financial analyst roles in a variety of other businesses and government departments where the actuaries’ analytical skills add value to the organisation.
The actuarial qualification is widely recognised and allows opportunities to gain international experience. Actuarial skills are currently in great demand worldwide including in Asia, America and Europe. The Jobs Rated Almanac in the USA has often ranked the actuarial profession as the number one profession in terms of better rewards and security and lower stress. The financial rewards from an actuarial career are comparable with, and often better than other professions. Actuaries are among the highest paid professionals in many countries around the world.