How does an actuary salary compare to the national full-time average?

The national full-time adult ordinary-time average is $2,083.70 per week, or about $108,352 per year (ABS Average Weekly Earnings, May 2026). The median actuary salary in Sydney of around $106,000 is slightly below this average. However, many actuaries earn bonuses and other compensation that can push total pay above the national average, especially at senior levels. The all-employees median (including part-time) is about $74,100 per year, so full-time actuaries are well above that.

What factors influence actuary pay in Sydney?

Key factors include experience level (entry-level, mid-career, senior), professional qualifications (associate vs fellow of the Actuaries Institute), industry sector (insurance, superannuation, consulting, banking), and employer type (public vs private sector). Sydney's cost of living and demand for actuaries in financial services also play a role. The state full-time average for New South Wales is about $109,658 per year, so actuaries in Sydney may earn close to or above that depending on their role.

Actuary salary in Sydney: how it compares to the national average

Q: What is the average salary for an actuary in Sydney?

The Australian Bureau of Statistics does not publish a specific median or average for actuaries at the occupation level. However, private salary surveys such as PayScale report a median total compensation of around $106,000 per year for actuaries in Sydney, based on a sample of professionals. This figure includes base salary and bonus, and ranges from about $77,000 for entry-level to $163,000 for experienced actuaries.

Actuary salaries in Sydney and the national average

Actuary salaries in Sydney sit close to the national full-time average, but the exact figure depends on experience, qualifications, and industry. This page explains where actuary pay stands relative to the line drawn by the ABS Average Weekly Earnings, and what factors can push compensation above or below that benchmark.

How the national average is set

The national full-time adult ordinary-time average is $2,083.70 per week, or about $108,352 per year, based on the ABS Average Weekly Earnings survey for May 2026. This is the line used on this site. It represents the average weekly ordinary-time earnings for full-time adults across all industries and occupations, before tax. The ABS also publishes a full-time median of about $90,532 per year and an all-employees median of about $74,100 per year (ABS Employee Earnings, August 2025). These are distinct from the average and are useful for comparing typical earnings.

Where actuary salaries sit

The ABS does not publish a specific median or average for actuaries at the occupation level. Jobs and Skills Australia notes that median weekly earnings for actuaries are not available due to data limitations. However, private salary surveys such as PayScale report a median total compensation of around $106,000 per year for actuaries in Sydney, based on a sample of 23 profiles as of March 2026. This figure includes base salary and bonus, with a range from about $77,000 for entry-level to $163,000 for experienced professionals.

Compared to the national full-time average of $108,352, the Sydney actuary median is slightly below the line. But many actuaries earn bonuses and other incentives that can lift total pay above the average, especially at senior levels. The all-employees median of $74,100 is much lower, so full-time actuaries are comfortably above that benchmark.

What moves pay above or below the line

Several factors can push an actuary's salary above or below the national average:

Experience and qualifications: Entry-level actuaries (less than 1 year) earn around $73,700 total compensation, well below the average. Early-career actuaries (1–4 years) earn about $101,700, close to the line. Mid-career and senior actuaries can earn $130,000 or more, exceeding the average. Fellowship of the Actuaries Institute typically commands higher pay than associate level.
Industry sector: Actuaries in insurance and superannuation tend to earn more than those in general consulting or government. The financial services sector in Sydney is a major employer and often pays above the state average.
Employer type: The public sector full-time average is about $2,263 per week ($117,676 per year), while the private sector average is $2,034 per week ($105,768 per year). Actuaries in government roles may earn less than those in private insurance companies.
Location: Sydney is part of New South Wales, where the state full-time average is about $109,658 per year. Actuaries in Sydney may earn close to or above this state average, especially in senior roles. Other states have different averages: Victoria $106,137, Queensland $106,064, Western Australia $115,825, and the ACT $119,090.

State and territory context

The national average masks variation across states. For example, the ACT has the highest full-time average at about $119,090, while Tasmania is lowest at $96,008. Sydney's actuary salaries should be viewed against the New South Wales average of $109,658. The PayScale median of $106,000 is slightly below that state average, but senior actuaries in Sydney can easily exceed it.

For more on how state averages are calculated, see States and territories. To compare actuary pay with other occupations, see Job medians.

Summary

Actuary salaries in Sydney are broadly in line with the national full-time average, with typical total compensation around $106,000 per year. Experience, qualifications, and industry are the main drivers that move pay above or below the line. While the ABS does not provide a specific actuary figure, private surveys offer a useful guide. For the most current data, refer to the ABS Average Weekly Earnings release and the Fair Work minimum wage updates.

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