Studying actuarial science in Australia will give you the skills and knowledge to help business, governments, and individuals make critical decisions for the future by evaluating risks and opportunities. Additionally, you will be taught to use advanced analytical techniques to deliver highly valued data analytics and insights. Studying actuarial science in Australia will enable you to know how to apply mathematical, statistical, financial, economic and other skills to find solutions to the most complex and difficult problems facing the commercial world.

In this piece, I will walk you through the list of requirements and qualifications that are needed for studying actuarial science in Australia.

Requirements to Study Bachelor’s of Actuarial Science in Australia

  1. Complete your Secondary Education

    You must have completed your secondary education before you can study actuarial science in Australia. Additionally, you should have a strong foundation in subjects such as mathematics, accounting, calculus and English in your high school results. Therefore, you must have completed 12 years of education or equivalent. However, this can differ across universities in Australia.

  2. English Proficiency Test

    You must write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. It can be tests such as IELTS, or TOEFL. This test can vary based on the university you apply to. Additionally, each school will have the minimum score you should have in the English test. The minimum score for IELTS is 6.0.

  3. Have Academic Transcripts

    You must submit an academic transcript of your previous education. This transcript must contain all your courses and grades that you have studied. Additionally, this transcript must be an official one and it must be written in English.

  4. Have Reference Letters

    You must submit at least two reference letters during your application. This reference letter should be from a teacher or an employer. Therefore, reference letters from friends or family will be rejected.

  5. Statement of Purpose

    Some schools in Australia may require you to write a statement of purpose. This is an essay that explains why you want to study actuarial science in Australia and your career plans. Additionally, you should check the school’s website to know the amount of words that you are required to write in your statement of purpose.

Requirements to Obtain a Masters in Actuarial Science in Australia

  1. Obtain a Bachelor’s Degree

    You must have a bachelor’s degree before you can study master’s in actuarial science in Australia. This bachelor’s degree must be a 4-year program from a recognised university. Additionally, this bachelor’s degree must be in a business administration field or a related field. Additionally, you must submit your academic transcript showing all the grades and courses you offered.

  2. Write the GMAT

    You will be required to write a GMAT before you get admitted to study actuarial science in Australia. Additionally, the average GMAT score you should have is between 600–630.

  3. English Proficiency Test

    You must write an English Language proficiency test if English is not your first language. Additionally, you must show proof of your English proficiency test. The minimum score for IELTS is 6.5. However, the test and test scores can vary depending on your country and Australian university.

  4. Write a Statement of Purpose

    You must write a statement of purpose explaining your qualifications, your plans as well as the reason for choosing to study actuarial science in Australia. Additionally, this essay must be 1-2 pages long.

  5. Letters of Recommendation

    You must submit at least three recommendation letters during your application. These letters must be obtained from an employer or a previous lecturer. Therefore, recommendation letters from a friend or family will be rejected.

  6. Submit your CV

    Your CV should contain all the relevant work experiences as well as all the relevant certifications you have in this field.

How to Apply

You can apply to study actuarial science in Australia through the university’s website. Additionally, you need to go through the school’s website and verify the requirements needed by your school of interest. Therefore, you can apply for the undergraduate program as well as the postgraduate degree.

Duration

The duration for studying actuarial science in Australia can vary based on the program of your choice and the University. The Undergraduate program that will offer a bachelor’s degree lasts for a minimum of 3-4 years of full-time study. However, a postgraduate program that will offer a master’s degree takes 1 to 2 years of full-time study.

Tuition Fee

The tuition fee for studying actuarial science in Australia varies based on each University and the program. Overall, the average tuition fee for the bachelor’s program is 20,000 AUD to 80,000 AUD annually. Additionally, the average tuition fee for a master’s program is 63,000 to 96,000 AUD. However, international students will be required to pay higher than this for both programs.

Universities in Australia that offer Actuarial Science

  1. The University of New South Wales, Sydney, New South Wales
  2. The University of Melbourne, Melbourne, Victoria
  3. Macquarie University, Sydney, New South Wales
  4. The University of Sydney, Sydney, New South Wales
  5. Monash University, Melbourne, Victoria
  6. Australian National University, Canberra, Australian Capital Territory
  7. The University of Queensland, Brisbane, Queensland
  8. University of Adelaide, Adelaide, South Australia
  9. Griffith University, Queensland
  10. University of Western Australia, Perth, Western Australia
  11. Deakin University, Melbourne, Victoria
  12. University of South Australia, Adelaide, South Australia
  13. Victoria University, Melbourne, Victoria
  14. University of Newcastle, Newcastle, New South Wales
  15. University of Technology Sydney, Sydney, New South Wales
  16. Charles Darwin University, Darwin, Northern Territory
  17. Curtin University, Perth, Western Australia
  18. Edith Cowan University, Perth, Western Australia
  19. University of Tasmania, Hobart, Tasmania
  20. Flinders University, Adelaide, South Australia.
  21. Swinburne University of Technology, Melbourne, Victoria.
  22. University of the Sunshine Coast, Sippy Downs, Queensland
  23. Western Sydney University, Western Sydney, New South Wales
  24. University of Wollongong, Wollongong, New South Wales
  25. Murdoch University, Perth, Western Australia
  26. Queensland University of Technology, Brisbane, Queensland
  27. University of Canberra, Canberra, Australian Capital Territory
  28. University of New England, Armidale, New South Wales
  29. Southern Cross University, Lismore, New South Wales
  30. Bond University, Gold Coast, Queensland

In Conclusion, studying actuarial science in Australia can come with effective screening procedures for most universities. Therefore, you must make your plans ahead and prepare every necessary document that is required. Additionally, you must confirm via the school’s website before applying. Finally, if you have any further questions or need assistance, please contact us.

Good luck!

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