Actuary salary in Australia
The median full-time salary for an actuary is $107,700 per annum, before tax, up $22,200 since 2018.
- Your stage of qualification moves the figure most: a part-qualified analyst earns well below a Fellow of the Actuaries Institute, and each exam passed closes some of that gap.
- Consulting firms and investment-side employers tend to pay bonuses on top of base salary, while insurers usually work to structured bands with paid study leave.
- Ask any employer whether exam fees and study days are covered, and whether a salary figure includes super and bonus.
The median salary rose by $22,200 between 2018 and 2024; the dashed line shows a projection to 2028 based on the real ABS Wage Price Index growth rate, not a role-specific forecast.
Roles that pay more than actuary
The largest typical pay rise is $40,500 a year, moving into Quantitative Analyst.
- Quantitative Analyst+$40,500/yr
- Derivatives Trader+$30,200/yr
- Risk Manager+$19,700/yr
How to negotiate a higher actuary salary
- Know the market rate before you ask. The median full-time actuary salary is $107,700; use that, not a guess, as your anchor, and adjust for your experience and employer.
- Lead with what's scarce, not just tenure. Skills like Statistical modelling and Financial analysis and modelling tend to command a premium over general actuary experience, name them specifically when you ask.
- Bring a real alternative to the table. Quantitative Analyst pays a typical $40,500 a year more and draws on similar skills, even mentioning you're weighing it up is a legitimate data point in a pay conversation.
- Time it deliberately. Reviews, the end of a project you delivered, or taking on responsibility beyond your job description are stronger moments to ask than an arbitrary date on the calendar.
- Ask for a number, not a raise. "Based on the market rate and [specific contribution], I'd like to move to X" gets a clearer answer than "I think I deserve more."
Actuary salary questions
How much do actuarys earn in Australia?
The median full-time salary for an actuary is $107,700 a year before tax. Seniority, specialisation, sector and the award or agreement you're employed under all move it.
Is actuary pay rising or falling?
The median actuary salary is up $22,200 since 2018. Figures from 2025 onward on this page are a projection, not a measured result.
What pays more than actuary?
Quantitative Analyst pays a typical $40,500 a year more and draws on similar skills to actuary.
Related salaries
- Forensic Accountant salary
- Management Consultant salary
- Derivatives Trader salary
- Quantitative Analyst salary
- Risk Manager salary
- Statistical Assistant salary
Pay advice
- How to ask for a pay rise, and back it up with real numbersWhat national wage growth looks like right now, how to work out a figure for your own role, wording you can adapt for the conversation, and what to do if the answer is no.
- The average salary in Australia (2026)Full-time adults in Australia averaged $2,083.70 a week in May 2026. Several measures get called the average salary, and this explains which one fits your situation.
- Overtime pay, time in lieu and what your award saysOvertime rates come from your award or agreement, not one national rule. How rates work, what happens on a salary, and how time off in lieu works.