Actuarial science salary in Australia
If you are looking at an actuarial science salary in Australia, the most direct public figure comes from the occupation group Actuaries, Mathematicians and Statisticians. The ABS does not break out actuaries alone, but Jobs and Skills Australia reports a median weekly earnings of $2,213 for full-time non-managerial employees in this group. That works out to about $115,076 a year before tax, assuming a 38-hour week.
This figure sits above the national full-time adult average of $2,083.70 a week ($108,352 a year) from the ABS Average Weekly Earnings survey for May 2026. It is also well above the all-employees median of $1,436 a week ($74,672 a year) from the ABS Employee Earnings and Hours survey for August 2025. The national minimum wage from 1 July 2026 is $26.44 an hour, or $1,004.90 a week for a 38-hour week, so actuarial pay is more than double that.
Where does the national figure come from?
The national full-time average is the ABS Average Weekly Earnings, May 2026. It measures average weekly ordinary time earnings for full-time adults, seasonally adjusted, at $2,083.70. This is the line that Average line uses as a benchmark. It is an average, not a median, so it can be pulled up by very high earners. The median for full-time employees is lower, at about $1,741 a week ($90,532 a year), from the same ABS employee earnings survey.
How does actuarial science compare?
The median for Actuaries, Mathematicians and Statisticians is $2,213 a week. That is about 6% above the national full-time average and 27% above the full-time median. The occupation has a high share of full-time workers (91%) and a median age of 36, slightly younger than the all-occupations median of 39. Women make up 48% of the workforce, matching the overall share.
Because the figure is a median for non-managerial employees, it excludes managers and owner-managers of incorporated enterprises. That makes it a cleaner comparison for typical pay in the role. The average for all employees in the occupation, including managers, would likely be higher.
What moves the figure off the line?
Several factors can push an individual actuarial salary away from the national line.
State or territory. The full-time average varies by state. The ACT is highest at $119,090 a year, followed by Western Australia at $115,825 and New South Wales at $109,658. Tasmania is lowest at $96,008. Actuarial jobs are concentrated in financial centres like Sydney and Melbourne, so salaries in those states may be above the national average. However, no state-level median for actuaries is published.
Method of setting pay. Most actuaries are likely paid under individual arrangements or collective agreements, not awards. Nationally, 38.5% of employees have their pay set by individual arrangement and 34.6% by collective agreement. Only 22.7% are on award-only rates. Award rates are generally lower, so actuaries, who are typically professionals, tend to earn more than award-covered workers.
Industry. Actuaries work mainly in finance and insurance, which have above-average earnings. The ABS does not publish industry-specific figures for this occupation, but the finance industry full-time average is higher than the all-industries average.
Experience and seniority. The median age of 36 suggests many actuaries are mid-career. Entry-level salaries will be lower, and senior roles much higher. The Jobs and Skills Australia data does not break down by experience.
For a personalised comparison, you can Place a salary on the line to see how it stacks up against the national full-time average. You can also explore Job medians for other occupations or States and territories to see how averages differ around Australia.
A note on the data
The actuarial median comes from the ABS Survey of Employee Earnings and Hours, May 2023, as reported by Jobs and Skills Australia. It is the most recent available for this occupation. The national averages are from the ABS Average Weekly Earnings, May 2026, released in August 2026. The minimum wage is from Fair Work, effective 1 July 2026. All figures are before tax. For tax, the 2026–27 rates apply: nil up to $18,200, then 15% to $45,000, 30% to $135,000, 37% to $190,000, and 45% above that, plus the 2% Medicare levy.
If you are comparing a specific offer or current salary, remember that the national line is an average of all full-time adults. Your own pay may differ based on your state, industry, experience, and whether you are covered by an award or agreement. The median for actuaries gives a good benchmark, but it is not a guarantee.