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About the course
Melbourne Business School's Master of Actuarial Science (Extended) provides a graduate pathway into the actuarial profession and is designed to support eligibility for Part I (Foundation) accreditation exemptions with the Actuaries Institute (subject to academic performance). The course develops students' ability to apply actuarial theory, principles and techniques to real-world problems, with particular emphasis on modelling and data-driven decision-making in areas such as insurance and superannuation.
What you might learn
Students build foundational actuarial knowledge and the quantitative skills needed to construct, apply and critically evaluate actuarial models. The program aims to develop analytical problem-solving and communication capabilities so graduates can explain and justify model use and outcomes to technical and non-technical audiences. It also provides preparatory study for those without prior probability and statistics background through an additional initial semester.
Career outcome
Graduates are prepared for entry-level actuarial and quantitative analyst roles, particularly in insurance and superannuation where actuarial modelling and risk measurement are core activities. The degree supports progression toward professional actuarial accreditation pathways and related careers in risk management, pricing, reserving, and analytics. Opportunities may also extend to broader financial services and consulting where statistical modelling and data-driven decision-making are required.
Entry requirements
This program is designed for non-actuarial graduates and is suitable for graduates who have mathematical or statistical specialisations (e.g. mathematics, physics or engineering). If you do not have a background in probability and statistics, an additional semester at the beginning of the program will allow you to take the relevant subjects. English language requirement: 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***
