Actuarial Science and Actuarial Studies - B6060

There is a level of financial risk behind every decision a business makes. Actuaries are essential for helping to navigate these risks and making the right decisions. They are the analytical thinkers who see the opportunities within data, numbers and patterns - and transform them into more positive business outcomes.

This combined bachelor's and master’s program offers you a faster, more streamlined pathway towards a rewarding career as an Actuary.

The 4-year program begins with the Bachelor of Actuarial Science. Learn how to evaluate risks, forecast futures and influence economic structures. Apply mathematical and statistical concepts to real-world scenarios, then choose from one of two specialisations - Actuarial Studies or Actuarial Analytics - to start fine-tuning the skills that will open doors for your career.

As you reach the end of the 3-year bachelor’s program, you have the unique opportunity to study postgraduate electives that can form the start of your master's degree.

The master's program advances the skills you have developed during your first three years of study. You can choose to tailor your studies from a range of electives including econometrics, statistics, business modelling and finance, while fast-tracking your studies by completing the program in just one year.

You need professional certification from the Actuaries Institute to work as an Actuary. By completing units as part of this combined program, you will be fast-tracking your certification - gaining exemptions from some of the Institute’s Programs.

This means less time studying and more time growing your career. Actuaries apply their analytic skillset to any field that needs to manage financial risk, and this can include working in areas such as finance, insurance, superannuation and government. Today, actuaries are even helping to address global challenges like climate change and cybersecurity.

Ready to make more of an impact as an actuary?

At a glance

Subject prerequisites
English Maths Sciences / Other
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Course Details

Location
  • On-campus at Clayton: Full time & part time
Duration
  • 4 years (full time)
  • 8 years (part time)
Start date
 First Semester (February)
Qualification
 Bachelor of Actuarial Science, Master of Actuarial Studies
Fees

Information about fees

Course Handbook

This course will prepare you for a career as an actuary. This double degree will allow you to complete the Foundation Program and the university component of the Actuary Program under the Accreditation Agreement with the Actuaries Institute. It is designed for getting the maximum number of exemptions within the shortest time.

You will have the opportunity to gain industry-based experience as part of the specialisations in the bachelor component of this course: Actuarial studies and Actuarial analytics. You will be able to seek employment in international finance and business fields dealing with life, general or health insurance, superannuation and financial consulting. Many actuaries and actuarial graduates work on investment operations for asset managers, stockbrokers and banks. There are a range of government-related jobs in regulatory control, workers' compensation, education and others. Some actuaries work with large companies on long-term strategic planning and in the broader fields of risk management, banking and data analysis.

View details specific to degree:

Please select a specialisation for more details:

Please select a specialisation for more details:

Entry Requirements

Entry Requirements (Domestic students)

There are many ways to be considered for entry to a Monash University degree depending on your educational background and history. The below options reflect the academic requirements for the different applicant categories (or the highest level of education previously completed) to be considered for this Monash course. All applicants must satisfy equivalence of the VCE subject prerequisites or equivalent tertiary units including the English language requirements.

Qualifications

Equivalent Australian Year 12

Alternative qualifications and prerequisites

For other domestic and international qualification entry requirements and scores for this course use the study credit and admissions eligibility search.

English requirements

Applicants must also meet the English language requirements.

University entrance requirements

Minimum entrance requirements for admission to Monash University Australia.

The course structure and progression map can be viewed in the Handbook.

Making the application

Future students

Semester one (February)

Applications for on campus studies should be made online through the Victorian Tertiary Admissions Centre

Apply through VTAC

Current Monash students

You may apply to transfer from another Monash course. Transfers are a competitive process. You may apply mid-year for available courses however consideration will be given as to whether you will be able to follow your course progression.

Please note that if you apply for a course transfer, you should still enrol in your current course as if you were continuing so as not to jeopardise your enrolment in the Faculty if your transfer application is unsuccessful. More about Course Transfer.

Self assess for credit eligibility

Check for study credit using the "Credit search" link on the Credit for prior study page.

Fees

Fees are subject to change annually.

Commonwealth supported place (CSP)

The average annual student contribution amount for 2026 is:

A$13,558

Note: see information on how fees are calculated.

Fee assistance

As a Commonwealth supported student, you may be able to either:

Full fee

Fees are per 48 credit points which represents a standard full-time course load for a year. The fees for 2026 are:

A$38,000

Scholarships

We offer over 360 types of scholarships, valued at up to $280,000. Some scholarships offer one-off payments while others continue for the length of your course. Learn more about Monash Scholarships.

Other fees

The Student Services and Amenities Fee applies to some students each calendar year.