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About the course
Melbourne Business School's Master of Actuarial Science (Enhanced) provides a graduate pathway to prepare you for the actuarial profession, developing analytical capability in actuarial theory, principles, techniques and data. The course emphasises building and evaluating actuarial models, particularly for insurance and superannuation contexts. It is designed to provide accreditation exemptions from Actuaries Institute Part I (Foundation) and half of Part II (Associateship) professional exams, subject to sufficiently high academic results.
What you might learn
Students build a strong foundation in actuarial methods and quantitative problem-solving, learning to explain, apply and critically evaluate actuarial models and assumptions. The course aims to develop the ability to work with data and actuarial techniques to assess and manage financial risk. It is structured to support progression toward professional actuarial accreditation through recognised exam exemptions where eligible.
Career outcome
Graduates can pursue roles applying actuarial modelling and risk analysis in industries such as insurance, superannuation and broader financial services. Career pathways may include actuarial analyst, risk analyst, pricing or reserving analyst, and related quantitative roles supporting product design and risk management decisions. The program also supports progress toward professional recognition through Actuaries Institute accreditation exemptions, strengthening employability in actuarial career tracks.
Entry requirements
The two-year Master of Actuarial Science (Enhanced) is designed to provide non-actuarial graduates with their initial education in actuarial studies. It's suitable for graduates who have mathematical or statistical specialisations (e.g. mathematics, physics or engineering). English language requirements: IELTS 6.5 with no band less than 6.0.
Living Costs in Melbourne**
Restaurant (Meal, Inexpensive Restaurant) A$ 15 - 20 |
Rent per Month (1 bedroom in City Centre) A$ 1,583 - 2,094 |
Rent per Month (1 bedroom Outside of Centre) A$ 1,207 - 1,596 |
Transportation (Daily) A$ 7 - 9 |
Utilities per Month (Electricity, Mobile & Internet) A$ 240 - 318 |
Average Salary***
