OSCA 223131

Actuary

Overview

  • Employed persons

    2,400

  • Employment status

    88.6% Full time

    11.2% Part time

  • Median age

    33 years

  • Employment by sex

    34.0% Female

    65.8% Male

    Moderately male dominated

  • Indigenous employment share

    0.0%

  • Main employing industry

    Financial and Insurance Services

Indicator Actuary Total employment
Employed persons 2,400 12,049,400
Median age 33 years 40 years
Full-time share 88.6% 64.2%
Part-time share 11.2% 35.8%
Female employment share 34.0% 48.5%
Male employment share 65.8% 51.5%
Gender segregation intensity scale Moderately male dominated Gender balanced
Indigenous employment share 0.0% 2.2%
Main employing industry Financial and Insurance Services Health Care and Social Assistance
Note: N/A values indicate data are not available due to confidentiality or data reliability requirements.

Occupation overview

Actuaries analyse mathematical, statistical, demographic, financial or economic data to predict and assess long-term risks and potential impacts of future events.

What the occupation involves

  • Applies and examines complex models to forecast future events that may have financial, social or environmental impacts
  • Analyses data to identify opportunities to improve outcomes for companies, government, society and other organisations
  • Formulates and proposes strategies to mitigate risks and uncertainties
  • Designs policies, assesses risk and analyses investments primarily in life insurance, superannuation, health insurance, friendly societies and financial markets
  • Ensures compliance with applicable laws, regulations and an ethical code of conduct

Common occupation titles

No alternative occupation titles are listed for this occupation.

Specialisations

No specialisations are listed for this occupation.

Skill level (education and experience level)

Skill level 1
equivalent to a university level qualification (Bachelor degree or higher).

Note: While skill levels are described using formal education levels, some people use a combination of informal learning, on-the-job training and personal experience to achieve an equivalent level.

Licensing or registration requirements

Registration or licensing is required.

OSCA structure

Employment

On this page

    Industries

    Top 10 most common industries, 2021

    Actuary Total employment
    Industry Share of occupation Industry Share of occupation
    Financial and Insurance Services 77.6% Health Care and Social Assistance 14.5%
    Professional, Scientific and Technical Services 16.4% Retail Trade 9.1%
    Health Care and Social Assistance 2.1% Construction 8.9%
    Public Administration and Safety 1.8% Education and Training 8.8%
    Administrative and Support Services 0.8% Professional, Scientific and Technical Services 7.8%
    Rental, Hiring and Real Estate Services 0.2% Public Administration and Safety 6.6%
    Accommodation and Food Services 0.0% Accommodation and Food Services 6.5%
    Agriculture, Forestry and Fishing 0.0% Manufacturing 5.9%
    Arts and Recreation Services 0.0% Transport, Postal and Warehousing 4.5%
    Construction 0.0% Financial and Insurance Services 3.7%
    Note: N/A values indicate data are not available due to confidentiality or data reliability requirements.

    States and territories

    Employment distribution by states and territories, 2021

    • New South Wales

      72.4%

    • Victoria

      17.7%

    • Queensland

      4.9%

    • South Australia

      0.8%

    • Tasmania

      0.3%

    • Northern Territory

      0.0%

    • Australian Capital Territory

      2.5%

    Actuary Total employment
    State / Territory Employment Share of occupation Employment Share of occupation
    New South Wales 1,700 72.4% 3,684,200 30.6%
    Victoria 420 17.7% 3,162,900 26.2%
    Queensland 120 4.9% 2,444,100 20.3%
    South Australia 20 0.8% 839,400 7.0%
    Western Australia 50 1.9% 1,306,200 10.8%
    Tasmania 10 0.3% 254,700 2.1%
    Northern Territory 0 0.0% 107,000 0.9%
    Australian Capital Territory 60 2.5% 248,600 2.1%
    Note: N/A values indicate data are not available due to confidentiality or data reliability requirements.

    Age and sex

    Employment distibution by age group and sex, 2021

    Actuary

    Total employment

    Age group Actuary Total employment
    15–24 years 15.3% 14.3%
    25–34 years 39.4% 22.7%
    35–44 years 26.8% 22.3%
    45–54 years 11.6% 20.4%
    55–64 years 5.2% 15.3%
    65–74 years 1.7% 4.3%
    75 years and over 0.3% 0.6%
    Note: N/A values indicate data are not available due to confidentiality or data reliability requirements.
    Sex Actuary Total employment
    Female 34.0% 48.5%
    Male 65.8% 51.5%
    Note: N/A values indicate data are not available due to confidentiality or data reliability requirements.

    On this page

      OSCA occupation profiles data

      This file contains data available from the OSCA Occupation Profile page.

      Use of this data must include the relevant attribution text provided.

      OSCA Occupation data - 2021 Census.xlsx

      xlsx 1236447

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      Occupation Standard Classification for Australia (OSCA)

      Occupation Standard Classification for Australia (OSCA) is the skill-based classification used to categorise occupations across the Australian labour market. OSCA is used to define occupations across all official occupational statistics. OSCA replaces the Australian and New Zealand Standard Classification of Occupations (ANZSCO).

      Each job is classified to one, and only one, group of jobs at each level of the classification with no overlaps. This prevents the accidental double-counting of roles within the Australian labour market. For more information about OSCA, visit the What is OSCA information page, or the ABS website.

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