With the widest choice of actuarial subjects on offer, the University of Melbourne is your best choice for actuarial studies in Victoria.
Actuaries assess, evaluate and manage the financial risks faced by individuals, organisations and governments for future planning. Risks include illness, disability and death, the effects of natural disasters such as cyclones and earthquakes, and major economic or social change.
If you choose to major in actuarial studies you will have a firm grounding in the traditional actuarial skill set of mathematics, statistics, demography, finance and economics. This background, coupled with strong analytical skills, sees actuaries serving as financial advisers to a range of organisations including life, general and health insurance companies; banks and other financial institutions; superannuation funds; and governments. Actuaries tackle many types of problems, most of which involve uncertainty about the future.
Our Centre of Actuarial Studies is one of only six institutions with full accreditation from the Actuaries Institute, the professional actuarial body in Australia.
Careers
Graduates of the Actuarial Studies major are well prepared for careers in the following areas:
- Banking and finance
- Capital and risk management
- Financial planning
- Financial reporting and performance management
- General insurance
- Health insurance
- Investments and asset management
- Life insurance: product pricing, design and distribution
- Superannuation
- Valuation of insurance liabilities and financial instruments.
Entry requirements for the Bachelor of Commerce
Access Melbourne allows you to be considered below the Clearly-in Rank. Guaranteed entry is available to eligible students from a rural area or disadvantaged financial background. i
Access Melbourne can help you gain a place in a course, even if your ATAR is below the Clearly-in Rank. Eligible students must apply through Access Melbourne and meet prerequisites.
Prerequisites
Units 3 & 4: A study score of at least 25 in English/English Language/Literature or at least 30 in EAL, and at least 25 in Mathematical Methods or Specialist Mathematics.
Students may be eligible to progress into the 3-year Master of Engineering, subject to completing prerequisite subjects. Applicants intending to major in Actuarial Studies or who intend to complete the Master of Engineering following the Bachelor of Commerce are strongly encouraged to complete VCE Specialist Mathematics Units 3 and 4 or equivalent. If VCE Specialist Mathematics has not been completed, students wanting to undertake the Master of Engineering will incur the cost of undertaking an additional Mathematics subject through the University's Community Access Program (CAP). International applicants intending to commence a major in Actuarial Studies from mid-year (July) must, at a minimum, meet the requirements to enter MAST10006 Calculus 2 which requires a study score of at least 29 in VCE Specialist Mathematics 3/4, or IB Higher Level Analysis and Approaches with a score of at least 4 or equivalent, or if attending Trinity College, successful completion of Mathematics 2. If these requirements are not met students are advised to begin at start-year intake (February) the following year.