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

Course Details

Location
  • On-campus at Clayton: Full time
Duration
  • 4 years (full time)
Start date
First Semester (February), Second Semester (July)
Qualification
Bachelor of Actuarial Science, Master of Actuarial Studies
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 (International students)

You need to satisfy all of the following requirements to be considered for entry into this course.

At the time of enrolment in a course at Monash University, you must be at least 17 years of age.

View all minimum age requirements.

All Monash undergraduate courses require you to have successfully completed a minimum of an Australian Year 12 qualification (or equivalent) and achieve the required academic entry score. Most Monash faculties generally use your most recent studies for admission however other guidelines may apply where your prior qualification may be considered.

Entry requirements for each qualification level are as follows:

All Monash undergraduate courses require you to satisfy English entry requirements in one of the following ways:

If your English test does not meet the above scores you may want to consider Monash English. Some Monash courses however do not accept Monash English.

The English measures outlined above must be completed within 3 years prior to the Monash course commencement date (other time limitations may apply as outlined in the Admission to Coursework Courses and Units Procedure). If you have completed several measures of English proficiency over a period of time, the highest valid measure will be accepted.

Monash University reserve the right to ask students to complete an English test to meet English course requirements upon request.

Further information can be located at English language requirements.

International students applying for a visa need to satisfy English requirements set by the Department of Home Affairs where these requirements and acceptable English tests differ from Monash University.

All Monash University undergraduate courses require you to have previously studied and achieved required Australian level standards in specific subject known as prerequisite subjects.

You must satisfy the following prerequisite subject requirements for this course:

*If you have completed an Australian Year 12 qualification you will be required to meet the prerequisite subject requirements that are equivalent to the VCE prerequisite subject requirements specified above.

Courses with maths and science prerequisite subjects

If the course you are applying for requires maths and/or science as prerequisite subjects, you can meet the requirements in the following ways:

  • Australian Year 12 or International Baccalaureate (IB) Diploma Programme:

    You must meet the maths and/or science prerequisite subject required for your chosen course as specified above (if applicable).

  • Other qualifications recognised by Monash:

    If you have completed maths and/or science subjects in the relevant discipline at the required grade level, it is assumed that you have knowledge equivalent to the Australian Year 12 (VCE equivalent) prerequisite subject required for your chosen course. It is strongly recommended that you check that you have covered the assumed knowledge required for your course by completing the Assumed Knowledge Skills Analysis.

    This online activity includes multiple-choice questions based on your prior studies and helps you identify areas for revision, so you can start your course feeling confident and prepared. Once you accept your Monash offer and set up your student account you can complete the Assumed Knowledge Skills Analysis before starting your course.

These guidelines do not apply to the Bachelor of Medical Science or Doctor of Medicine, or to courses that require a tertiary-level Physiology unit: Bachelor of Pharmacy (Honours) (Graduate Entry), and Bachelor of Pharmacy (Honours) and Master of Pharmacy (Graduate Entry).

Alternative pathways

If you don't satisfy the requirements for direct entry consider these pathway options.

Entry requirements for Monash University are subject to change.

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

Making the application

Future students

Semester one (February)

Apply directly to Monash using course code B6060.

Apply

Semester two (July)

Apply directly to Monash using course code B6060.

Apply

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.

International fee

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

A$55,900

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.

Enrolment Obligations

International students enrolling in a CRICOS-registered course can study no more than one third (33%) of their course by distance and/or online learning. Students must enrol in at least one unit that is not by distance and/or online in each compulsory study period unless the student is completing the last unit of their course. See standard 8.19 and 8.20 of National Code of Practice for Providers of Education and Training to Overseas Students 2018.

CRICOS code: 113701J

International course guides

If you are an international student and wish to find out more about our courses, entry requirements, studying at Monash and more, please download our international course guides below.

International Study Grants

International study grants

International Study Grants valued at up to $10,000