Overview
EMPLOYED
10,900
PART-TIME SHARE
15%
FEMALE SHARE
44%
MEDIAN WEEKLY EARNINGS
$2,213
MEDIAN AGE
33
ANNUAL EMPLOYMENT GROWTH
-200
Summary
Actuaries, Mathematicians and Statisticians develop and apply actuarial, mathematical, statistical and quantitative principles and techniques to solve problems in a range of fields such as business and finance, scientific and social research, and engineering.
Tasks
- Defining, analysing and solving complex financial and business problems relating to areas such as insurance premiums, annuities, superannuation funds, pensions and dividends
- Examining financial projections for general insurance companies, finance companies, government and other organisations
- Designing new types of policies, assessing risks and analysing investments in life insurance, superannuation funds, health insurance, friendly societies, financial markets and other areas
- Formulating mathematical models to simulate processes
- Applying models to experimental observations, and adjusting and recasting the models
- Using numerical analysis methods to develop algorithms and perform computations
- Liaising with management and clients to determine the subject or area to be surveyed or examined
- Specifying the data to be collected, and the methodology to be used in collection and analysis
- Evaluating and describing the reliability and utility of source information
- Analysing and interpreting data, and producing relevant statistics to describe and infer particular trends and patterns
Details
On this page
Earnings and Hours
Earnings and Hours | Actuaries, Mathematicians and Statisticians | All Occupations |
---|---|---|
Share of workers who work full-time hours | 85% | 70% |
Average full-time hours worked per week | 42 hours | 44 hours |
Median full-time earnings per week | $2,213 | $1,697 |
Median hourly earnings | $58 | $43 |
Industries
Actuaries, Mathematicians and Statisticians work in industries like:
- Professional, Scientific and Technical Services
- Financial and Insurance Services
- Education and Training
Source:
Ranked using ABS, Labour Force Survey, 2023, four-quarter average data, custom report.
Note: industries that comprise less than 5% of an occupation have been suppressed.
States and territories
New South Wales
51.6%
Victoria
27.5%
Queensland
6.5%
South Australia
4.7%
Western Australia
3.2%
Tasmania
1.1%
Northern Territory
1.1%
Australian Capital Territory
4.3%
Source: ABS Labour Force Survey, Detailed, August 2024, Jobs and Skills Australia trend data.
Age and gender
Age and Gender | Actuaries, Mathematicians and Statisticians | All Occupations |
---|---|---|
Median age | 33 years | 39 years |
Female share of employment | 44% | 48% |
Education
Highest Level of Educational Attainment (% Share) | All Occupations | Actuaries, Mathematicians and Statisticians |
---|---|---|
Post Graduate/Graduate Diploma or Graduate Certificate | 12.2 | 46.2 |
Bachelor degree | 23.2 | 45.0 |
Advanced Diploma/Diploma | 11.1 | 2.0 |
Certificate III/IV | 19.5 | 1.3 |
Year 12 | 15.9 | 3.4 |
Year 11 | 4.0 | 0.2 |
Year 10 and below | 9.7 | 0.5 |
Occupation profiles data
This file contains data displayed on the Occupation Profile pages.
Use of data in this file must include the relevant attribution text provided.
Occupation profiles data - August 2024.xlsx
occupation_profiles_data_-_august_2024.xlsx9088333
DownloadAustralian and New Zealand Standard Classification of Occupations
Australian and New Zealand Standard Classification of Occupations (ANZSCO) is the skill-based classification system used to categorise occupations in the Australian and New Zealand labour markets. ANZSCO provides a basis for the standardised collection, analysis and dissemination of occupation data. Visit the ABS website to learn how ANZSCO works. Jobs and Skills Australia displays data for occupations that are defined by ANZSCO 2013 Version 1.3.