Actuaries, Mathematicians and Statisticians
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.
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
JSA produces employment projections to show where likely future job opportunities may be. The latest data are for the five years from November 2021 to November 2026. Over this period, the number of workers:
- is expected to grow strongly
- is likely to reach 18,500 by 2026.
Source: Jobs and Skills Australia Employment Projections to 2026.
Notes: The number employed includes people who work in this occupation as their main job. People who work in more than one job are counted against the occupation they work the most hours in.
Employment projections figures are rounded to the nearest 100. Calculations based on these rounded figures may result in differences to the numbers that are displayed on this page. Employment projections data (including occupations) can be downloaded from the Employment Projections page.
Number of Workers
Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and Jobs and Skills Australia Employment Projections to 2026.
Earnings and hours
Around 79% of people employed as Actuaries, Mathematicians and Statisticians work full-time hours, in all their jobs combined. This is 13 percentage points above the all jobs average (66%).
Full-time workers work an average of 42 hours per week in their main job. This is similar to the all jobs average (44 hours per week).
Median full-time earnings are $1,931 per week, this is much higher than the all jobs median ($1,593):
- 3 in 4 workers earn more than $1,691
- 1 in 4 earn more than $2,293
Median hourly earnings are $55, this is more than the all jobs median ($41 per hour).
Sources: Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average. Full-time median earnings and median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2021. Compared to all jobs median.
Weekly Earnings (Before Tax)
|Earnings||Actuaries, Mathematicians and Statisticians||All Jobs Average|
Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.
Employment across Australia
Employment by State and Territory (% Share)
|State||Actuaries, Mathematicians and Statisticians||All Jobs Average|
Around 90% of Actuaries, Mathematicians and Statisticians live in capital cities, compared with the all jobs average of 62%.
New South Wales and the Australian Capital Territory have a large share of employment relative to their population size.
The region with the largest share of workers is Melbourne - Inner South.
Source: Based on ABS Census 2016, Customised Report. Share of workers across Australian states, territories and regions, in this job compared to the all jobs average.
Age and gender
The median age of Actuaries, Mathematicians and Statisticians is 37 years. This is similar to the all jobs average of 40 years.
A large share of workers are aged 25 to 34 years.
Females make up 43% of the workforce. This is 5 percentage points below the all jobs average of 48%.
Source: Based on ABS Census 2016, Customised Report. Age profile and gender share compared to the all jobs average.
Age Profile (% Share)
|Age Bracket||Actuaries, Mathematicians and Statisticians||All Jobs Average|
|65 and Over||2.5||4.2|
Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Education, training and experience
A bachelor degree in a related field is needed to work as an Actuary, Mathematician or Statistician. Many workers have a postgraduate qualification.
- Course Seeker to search and compare higher education courses.
- ComparED to compare undergraduate and postgraduate student experiences and outcomes.
Highest Level of Education (% Share)
|Type of Qualification||Actuaries, Mathematicians and Statisticians||All Jobs Average|
|Post Graduate/Graduate Diploma or Graduate Certificate||45.4||10.1|
|Year 10 and below||0.6||12.5|
Source: ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). Qualifications needed by new workers might be different from the qualifications of workers already in the job.
Skills and Knowledge
Employers look for Actuaries, Mathematicians and Statisticians who have strong attention to detail, can communicate clearly and can work well in a team.
Skills can be improved through training or experience.
Using maths to solve problems.
Reading work related information.
Thinking about the pros and cons of different ways to solve a problem.
Being able to use what you have learnt to solve problems now and again in the future.
Writing things for co-workers or customers.
Writing computer programs.
Using scientific rules and methods to solve problems.
Talking to others.
55%Complex problem solving
Noticing a problem and figuring out the best way to solve it.
55%Judgment and decision making
Figuring out the pros and cons of different options and choosing the best one.
Listening to others, not interrupting, and asking good questions.
Understanding needs and product requirements to create a design.
Figuring out the best way to teach or learn something new.
Figuring out how a system should work and how changes in conditions, operations, and the environment will affect it.
Teaching people how to do something.
Keeping track of how well work is progressing so you can make changes or improvements.
Measuring how well a system is working and how to improve it.
41%Coordination with others
Being adaptable and coordinating work with other people.
Managing your own and other peoples' time to get work done.
Talking people into changing their minds or their behaviour.
These are important topics, subjects or knowledge areas.
Arithmetic, algebra, geometry, calculus, or statistics.
71%Computers and electronics
Circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
English language including the meaning and spelling of words, rules of composition, and grammar.
53%Education and training
Curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
47%Administration and management
Business principles involved in strategic planning, leadership, and coordinating people and resources.
Word processing, managing files and records, stenography and transcription, designing forms, and other office work.
38%Customer and personal service
Understanding customer needs, providing good quality service, and measuring customer satisfaction.
29%Personnel and human resources
Recruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.
Plant and animal organisms, their tissues, cells, functions, how they rely on and work with each other and the environment.
23%Engineering and technology
Use engineering, science and technology to design and produce goods and services.
The physical laws of matter, motion and energy, and how they interact through space and time.
22%Production and processing
Raw materials, production processes, quality control, costs, and ways of making and distributing goods.
21%Communications and media
Media production, communication, and dissemination. Includes written, spoken, and visual media.
Describing land, sea, and air, including their physical characteristics, locations, how they work together, and the location of plant, animal, and human life.
Human behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.
17%Economics and accounting
Economics and accounting, the financial markets, banking and checking and reporting of financial data.
17%Law and government
How our laws and courts work. Government rules and regulations, and the political system.
Design techniques, tools, and principles used to make detailed technical plans, blueprints, drawings, and models.
12%Public safety and security
Use of equipment, rules and ideas to protect people, data, property, and institutions.
Transmission, broadcasting, switching, control, and operation of telecommunications systems.
Workers use these physical and mental abilities..
Choose the right maths method or formula to solve a problem.
Listen to and understand what people say.
73%Working with numbers
Add, subtract, multiply, or divide.
Communicate by speaking.
Read and understand written information.
Use general rules to find answers or solve problems logically.
Write in a way that people can understand.
Use lots of detailed information to come up with answers or make general rules.
59%Sorting or ordering
Order or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).
See details that are up-close (within a few feet).
Come up with different ways of grouping things.
Notice when something is wrong or is likely to go wrong, even if you can't solve the problem.
Come up with a number of ideas about a topic, even if the ideas aren't very good.
Come up with unusual or clever ideas, or creative ways to solve a problem.
Speak clearly so others can understand you.
48%Flexibility of closure
See a pattern (a figure, object, word, or sound) hidden in other distracting material.
Identify and understand the speech of another person.
45%Speed of recognition
Quickly make sense of and organize things you can see like letters, numbers, pictures, or other things.
Pay attention to something without being distracted.
Use your eyes to quickly compare groups of letters, numbers, pictures, or other things.
These are kinds of activities workers regularly do in this job.
92%Making sense of information and ideas
Looking at, working with, and understanding data or information.
88%Collecting and organising information
Compiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.
80%Explaining things to people
Helping people to understand and use information.
Using your own ideas for developing, designing, or creating something new.
78%Making decisions and solving problems
Using information to work out the best solution and solve problems.
76%Keeping your knowledge up-to-date
Keeping up-to-date with technology and new ideas.
75%Communicating within a team
Giving information to co-workers by telephone, in writing, or in person.
72%Giving expert advice
Providing guidance and expert advice to management or other groups.
72%Planning and prioritising work
Deciding on goals and putting together a detailed plan to get the work done.
71%Researching and investigating
Looking for, getting and understanding different kinds of information.
70%Working with computers
Using computers to program, write software, set up functions, enter data, or process information.
65%Documenting or recording information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
64%Building good relationships
Building good working relationships and keeping them over time.
64%Communicating with the public
Giving information to the public, business or government by telephone, in writing, or in person.
62%Looking for changes over time
Comparing objects, actions, or events. Looking for differences between them or changes over time.
58%Estimating amounts, costs and resources
Working out sizes, distances, amounts, time, costs, resources, or materials needed for a task.
58%Training and teaching others
Understanding the needs of others, developing training programs, and teaching or instructing.
57%Scheduling work and activities
Working out the timing of events, programs, and activities, as well as the work of others.
51%Coming up with systems and processes
Deciding on goals and figuring out what you need to do to achieve them.
49%Checking compliance with standards
Deciding whether events or processes comply with laws, regulations, or standards.
Interests and demands
Learn about the daily activities, and physical and social demands faced by workers. Explore the values and work styles that workers rate as most important.
Interests are the style or type of work we prefer to do. All interest areas are shown below.
Following set procedures and routines. Working with numbers and details more than with ideas, usually following rules.
Ideas and thinking. Searching for facts and figuring out problems in your head.
Practical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.
Working with forms, designs and patterns. Often need self-expression and can be done without following rules.
Starting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.
Working with people. Helping or providing service to others.
Work alone and make decisions. Workers are able to try out their own ideas, make decisions on their own, and work with little or no supervision.
Results oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.
Advancement and the potential to lead. Workers are recognised for the work that they do, they may give directions and instructions to others, and they are looked up to in their company and their community.
Serve and work with others. Workers usually get along well with each other, do things to help other people, and are rarely pressured to do things that go against their sense of right and wrong.
Job security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.
Supportive management that stands behind employees. Workers are treated fairly by their company, they are supported by management, and have supervisors who train them well.
98%Spend time sitting
Spend time sitting at work.
Use electronic mail.
94%Being exact or accurate
Be very exact or highly accurate.
88%Freedom to make decisions
Have freedom to make decision on your own.
Talk with people face-to-face.
85%Indoors, heat controlled
Work indoors with access to heating or cooling.
Talk on the telephone.
Have freedom to decide on tasks, priorities, and goals.
76%Impact of decisions
Make decisions that have a large impact on other people.
Work with people in a group or team.
67%Contact with people
Have contact with people by telephone, face-to-face, or any other way.
66%Letters and memos
Write letters and memos.
Compete with others, or be aware of competitive pressures.
Work to strict deadlines.
62%Frequent decision making
Frequently make decisions that impact other people.
55%Lead or coordinate a team
Lead others to do work activities.
54%Repeating same tasks
Repeat the same tasks or activities (e.g., key entry) over and over, without stopping.
54%Responsible for outcomes
Take responsibility for the results of other people's work.
51%Consequence of error
Work where mistakes have serious consequences.
51%Physically close to people
Work physically close to other people.
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The skills and importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 15-2041.00 - Statisticians.