Actuary salary in Australia
The median full-time salary for an actuary is $107,700 per annum, before tax, up $22,200 since 2018.
Pay in this field tracks exam progress more than years of service, so a partly qualified actuary and a Fellow in the same team can be on quite different packages. Sector matters too, because consulting firms, life insurers and general insurers each set their own bands, so the same job title can carry a different package depending on where it sits.
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.