Actuary Salary Australia: What to Expect When Comparing Job Offers

What does 'actuary salary australia' mean?

When you search for 'actuary salary australia', you're likely reading a job ad or comparing offers and want to know how the pay stacks up nationally. The Salary Index helps you do that by putting every dollar figure against a single benchmark: full-time adult ordinary-time earnings, which is $108,352 per year (index 100). This article explains what public data exists for actuaries, where the gaps are, and how to use the index to compare offers.

What the data says

According to Jobs and Skills Australia, there are about 2,400 actuaries employed in Australia, mostly in New South Wales (72%) and Victoria (17.6%). The workforce is young (median age 33) and predominantly male (66% male, 34% female). Almost 9 in 10 work full-time, averaging 43 hours per week.

But here's the catch: the Australian Bureau of Statistics does not publish median weekly earnings for actuaries. The figure is listed as 'N/A' in the official occupation profile. That means we can't give you a precise index number for the occupation itself. Instead, we have to rely on industry and state proxies.

Using industry and state indices

The industries page shows that Professional, Scientific and Technical Services has an index of 114.7 – about 14.7% above the national line. That translates to roughly $124,300 annualised. Actuaries also work heavily in Financial and Insurance Services, which is not separately listed but likely sits above the national average given the sector's high pay.

State indices vary: if you're comparing a job in Sydney, the NSW index is 101.2 ($109,658 annualised). In Melbourne, Victoria's index is 98 ($106,137). Western Australia is higher at 106.9 ($115,825). So a $130,000 offer in Perth (index 120) looks stronger than the same offer in Sydney (index 120 vs state 101.2) because the local market is already higher.

Reading a job ad with the index

Let's say you see an ad for 'Actuary, 3-5 years experience, $120,000-$140,000'. To compare, take the midpoint ($130,000) and calculate the index: 130,000 ÷ 108,352 × 100 = 120. That's above the Professional services industry index of 114.7, suggesting a competitive offer. But check the state: if the job is in Tasmania (index 88.6), that $130,000 is even more attractive relative to local earnings.

Remember the index is gross ordinary-time earnings. Your take-home will be less after tax. For a $130,000 salary in 2026-27, the resident tax estimate (excluding HELP, etc.) is roughly $30,867 tax plus $2,600 Medicare levy, leaving about $96,533. Use the how the index works page for more on tax.

Award coverage and minimums

Most actuaries are covered by the Banking, Finance and Insurance Award 2020 (MA000019), but award classifications for professional employees are broad. The pay guides from Fair Work Ombudsman list minimum rates for that award, but they are generally well below market rates for qualified actuaries. For example, a 'Professional employee Level 1' might earn around $80,000 under the award, while a qualified actuary would expect $100,000+. Enterprise agreements often set higher rates.

If you're early in your career, check whether the role is classified correctly under the award. The national minimum wage from 1 July 2026 is $26.44 per hour ($52,255 annualised, index 48.2), but no actuary should be paid that little.

Super and other considerations

From 1 July 2026, the super guarantee is 12% on earnings up to $270,830. So a $130,000 salary includes $15,600 in super on top, making total remuneration $145,600. Always compare total package, not just base salary.

Where to find more

• Salary Index for the latest national line and state indices.
• states to compare offers across Australia.
• topics for other occupation comparisons.

Final thought

Because the ABS doesn't publish actuary-specific earnings, the best you can do is use industry and state proxies. An offer with an index above 114.7 (Professional services) is likely above average for the sector. Combine that with your experience level and location, and you'll have a solid basis for negotiation.