Master of Actuarial Studies
- Commencing Terms
- Term 1, 2 & 3
- Duration
- 1.7 Year(s)
- Delivery Mode
- Face-to-face (includes blended)
- Campus
-
Kensington
- Codes
- Program code 8411
- CRICOS code 051222G
-
2024 Indicative first year full fee
- $38,000*
- $58,000*
-
2024 Indicative first year full fee
- $56,000*
-
2024 Indicative full fee to complete degree
- $87,000*
Entry Requirements
Fees
Fees
-
Flexible learning
-
#1 ranked program
-
Globally accredited
- Overview
- Entry requirements
- What will I study?
- Future careers
- How to apply
- Fees & Scholarships
Overview
The Master of Actuarial Studies equips you with the data analytics and quantitative risk management training for an actuarial career, and careers in finance.
Through this degree, you’ll learn to apply advanced analytical techniques, deliver highly valued data analytics, and actionable insights. You’ll also develop a specialist quantitative skill set in actuarial models, financial mathematics, probability, machine learning / artificial intelligence analytics, and commerce. The program is accredited by the Actuaries Institute and includes courses and electives to develop your future career as a business professional.
The program has also earned the University-Earned Credit (UEC) program status for Financial Mathematics (FM) exam and Statistics for Risk Modelling (SRM) exam. This UEC program facilitates the pathway for students who pursue the Society of Actuaries (SOA) profession by providing opportunities to earn credit for SOA exams.
Graduates of actuarial studies are in high demand. Upon graduation you’ll be ready for a quantitative role in a range of industries including financial services, insurance, and superannuation, and be equipped help businesses, governments, not-for-profit organisations, and individuals make critical decisions for the future.
If you have already completed an undergraduate degree in Actuarial Studies, the Master of Actuarial Studies will allow you to complete courses equivalent to the Foundation Program of the Actuaries Institute. You can also complete the "Actuarial Control Cycle" and "Data Analytics Principles" courses of the Actuary Program.
Key features
Learn from industry leaders
Our courses are taught by world-leading academic staff and professionally qualified actuaries, with involvement from industry partners.
A pathway to professional accreditation
Through this degree you can gain exemptions to the Actuaries Institute’s professional accreditation exams. Professional accreditation through the Actuaries Institute provides mutual recognition at major international actuarial bodies such as the Institute and Faculty of Actuaries in the UK and the Society of Actuaries in the US.
Why study this degree at UNSW?
You'll study at UNSW Business School, which has been ranked the #1 business school in Australia by AFR BOSS for the last two years in a row*. That means our business education leads the way in career impact, quality and reputation.
The UNSW School of Risk and Actuarial Studies is a designated Centre of Actuarial Excellence (US Society of Actuaries), and a 2021 Casualty Actuarial Society (US) University Award winner.
Our industry connections and world leading research are embedded into our programs to ensure your knowledge, skills and experience are relevant, forward-looking, and in-demand.
*AFR BOSS 2023 Best Business School Rankings
Want to see more from UNSW Business School?
Entry requirements
To be eligible for this program, you must have a recognised bachelor degree (or equivalent qualification) with a substantial component of mathematics, statistics, econometrics or actuarial studies, with a credit average, as determined by the UNSW Business School.
Applicants are expected to have a mathematics background equivalent to a full year of calculus and linear algebra at first-year university undergraduate level.
Entries are also open to students with background in related disciplines including financial engineering, data science, data engineering, physics, engineering, any related quantitative field.
Recognition of prior learning or professional recognition
Advanced standing, or recognition of prior learning is credit granted for experience and prior studies that are relevant to the program. It may be granted for courses covered in an undergraduate program, or the examinations of the Actuaries Institute (Australia), the Institute of Actuaries (UK), or the Society of Actuaries.
If you aren't eligible for advanced standing where you have relevant prior learning, you may be able to take some substitution courses, so that you aren't learning material you have already covered.
English language requirements
You may be asked to provide evidence of your English proficiency to study at UNSW depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.
If you’re completing an Australian Year 12 qualification (e.g. NSW HSC or equivalent), you do not need to provide anything extra to prove your proficiency. Your qualification will be used as evidence of your English proficiency.
If you do need to provide evidence of your English proficiency, this will be indicated in your application. You can prove this by providing evidence that you meet one or more of the following criteria:
- English language tests and university English courses
- Prior study in the medium of English
- Other qualifications
If you need to improve your English skills before you start your degree, UNSW College’s Academic English Programs are for you. The programs are suitable for various English levels and help you prepare for university studies and life in Australia.
To be eligible for this program, you must have a recognised bachelor degree (or equivalent qualification) with a substantial component of mathematics, statistics, econometrics or actuarial studies, with a credit average, as determined by the UNSW Business School.
Applicants are expected to have a mathematics background equivalent to a full year of calculus and linear algebra at first-year university undergraduate level.
Entries are also open to students with background in related disciplines including financial engineering, data science, data engineering, physics, engineering, any related quantitative field.
Recognition of prior learning or professional recognition
Advanced standing, or recognition of prior learning is credit granted for experience and prior studies that are relevant to the program. It may be granted for courses covered in an undergraduate program, or the examinations of the Actuaries Institute (Australia), the Institute of Actuaries (UK), or the Society of Actuaries.
If you aren't eligible for advanced standing where you have relevant prior learning, you may be able to take some substitution courses, so that you aren't learning material you have already covered.
English language requirements
You may be asked to provide evidence of your English proficiency to study at UNSW depending on whether you are from an English-speaking background or non-English speaking background. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.
If English is not your first language, you’ll need to provide proof of your English proficiency before you can be given an offer to study at UNSW. You can do this by providing evidence that you meet one or more of the following criteria:
- English language tests and university English courses
- Prior study in the medium of English
- Other qualifications
If you need to improve your English skills before you start your degree, UNSW College’s Academic English Programs are for you. The programs are suitable for various English levels and help you prepare for university studies and life in Australia.
Check the specific English language requirements for this program
Program structure
The Master of Actuarial Studies is a 1.7 year program consisting of 12 courses, tailored to suit your goals. The program includes:
- Six core courses
- Five electives, to match your career goals
- One capstone project
In the core courses you will study probability, statistics, financial mathematics, data visualisation and communication, statistical machine learning, finance, financial reporting and business economics. In the capstone you will study actuarial theory and practice and/or actuarial data analytic applications.
Your electives will develop your actuarial expertise in areas such as insurance, superannuation, and risk management, as well other related areas. There are more than 25 elective courses to choose from that span mathematics, computer science, marketing, information technology, finance, and economic topics.
High achieving students will also have the opportunity to engage in research-related courses/project reports.
For current and detailed course information, visit the Actuarial Studies Handbook.
Future careers
With highly transferable skills in actuarial studies, business, analytics, and statistics, you can move across, and succeed in the private sector, financial institutions, and government departments. UNSW Business School's Career Accelerator provides work experiences and professional development opportunities to help get you started.
Potential careers
- Actuarial Analyst
- Asset Management Trainee
- Business Consultant
- Credit Analyst
- Data Analyst
- Insurance Analyst
- Investment Banker
- Management Consultant
- Risk Assessment Officer
- Superannuation Adviser
- Wealth Management Analyst
- Derivatives Trader
Accreditation
The Master of Actuarial Studies provides a strong foundation for becoming an actuary or working within a related field. You can earn exemptions from courses in the Actuaries Institute’s Foundation and Actuary Program in Australia, or VEE credit from the Society of Actuaries (USA). Mutual recognition arrangements between major actuarial associations also mean that your professional qualifications are internationally transferrable.
How to apply
Applications must be submitted through our Apply Online portal. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term. Some high-demand programs and Faculties with limited places may have an earlier application deadline or commencement date. Find out more.
Ready to start your application?
For most international students, applications are submitted via our Apply Online service. We encourage you to submit your completed application as early as possible to ensure it will be processed in time for your preferred term.
Some high-demand programs with limited places, may have an earlier application deadline or may have an earlier commencement date. For more information visit our international applicant information page.
Ready to start your application?
Fees & Scholarships
*Fees are subject to annual review (or when required) by the University and may vary accordingly.
Indicative fees are a guide only and have been calculated based on the typical enrolment patterns of students undertaking the program. The indicative fees listed here is an estimate for tuition only and excludes non-tuition fees and charges. The amount you pay will vary depending on the calendar year of enrolment, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (48 units of credit (UOC) per year).
You should not rely on indicative fees as fee increases are assessed when required and may exceed the indicative figures listed here. Actual fees are calculated on enrolment. More information on fees can be found at the UNSW fees website.
Commonwealth Study Assistance such as Ausstudy, and Youth Allowance is available for some Masters degrees. For the most up-to-date information and list of degrees visit UNSW Current Student Financial Support.
*Fees are subject to annual review by the University and may increase annually, with the new fees effective from the start of each calendar year. The indicative fees listed here are based on an estimated average and are for tuition only other fees and charges are not included. The amount you pay will vary depending on the calendar year to enrol, the courses you select and whether your study load is more or less than 1 Equivalent Full Time Student Load (8 courses per year).
Indicative fees are a guide for comparison only based on current conditions and available data. You should not rely on indicative fees. More information on fees can be found at the UNSW fees website.
Indicative fees to complete the program have been calculated based on a percentage increase for every year of the program. Fee increases are assessed annually and may exceed the indicative figures listed here.
Indicative fees to complete the program include tuition plus an estimate of study-related costs of approximately $1,000 per year. To find out more about other costs, visit UNSW International.
Scholarships
At UNSW, we award over $83 million in scholarships each year. We pride ourselves on rewarding excellence and making university accessible to students from all walks of life. Whether you’re a domestic or international student, our range of scholarships, prizes and awards can support your journey.
QS World University Rankings, 2024.
AFR Top 100 Future leaders Award.
#1 Australian uni attended by start-up founders.
I can flexibly choose my subjects each term depending on the workload that I’m able to take on.
