BlogUniversityTop 5 Universities for Actuarial Studies in 2023 Revealed

Top 5 Universities for Actuarial Studies in 2023 Revealed

Are you wondering which universities are the best in teaching Actuarial Studies? 

Not to worry! We’ve found the top 5 universities in Australia to study or major in Actuarial Studies.

Keep reading to see which university made the cut! 

Keen to get into one of these universities? Make sure you’ve got an ATAR goal so that you know what marks you need to achieve this year!

#5. Macquarie University

Macquarie University - Actuarial Studies

Image sourced from Sofiri

Rankings

Macquarie University is ranked 8th in the top Australian schools for Accounting and Finance course by QS Top Universities Rankings 2023, and takes place as the 5th best university to study Actuarial Studies.

On a global scale, Macquarie University is ranked 98th in the QS Top Universities Rankings for Accounting and Finance in 2023. It also ranks 14th for Top Universities in Australia by the QS Top Universities Rankings.

About

The Macquarie Business School was founded in 2018 with six departments including Actuarial Studies and Business Analytics. Despite its lower global ranking, Macquarie University is the first university accredited with a professional actuarial body in the world and has provided actuarial education for over 50 years.

Many of the Actuarial Studies and Business Analytics teaching staff have a doctorate-level education with research and funding milestones. 

A Bachelor of Actuarial Studies integrates accreditation from the Actuarial Institutes within the course assessments. 

There is an extensive range of scholarships for students enrolling in a Bachelor of Actuarial Studies. These include the Macquarie Business School Dean’s Academic Excellence Scholarship, which provides $5000 to $10,000 for up to 4 years to the successful applicant.

Entry Requirements

The entry requirement for a Bachelor of Actuarial Studies at Macquarie University is a minimum ATAR of 95, and assumed knowledge for the course is Mathematics Extension 1. HSC Mathematics Extension 2 is also a recommended subject (which gives you an idea of the level of Maths knowledge required for the degree).

Learn about the pros and cons of a Bachelor of Actuarial Studies at Macquarie!

#4. Australian National University

ANU - Actuarial Studies

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Rankings

The Australian National University is ranked as the 5th best Australian school for Accounting and Finance course by QS Top Universities Rankings 2023 and is the 4th best university for studying an Actuarial degree.

However, ANU is ranked as the best university in Australia by the QS Top Universities Rankings 2023! 

Out of the global rankings, the University of New South Wales is ranked 44th in the QS Top Universities Rankings for Accounting and Finance in 2023. 

About

The ANU College of Business and Economics is renowned for its exceptional staff and facilities, which both make up one of the world’s best research-intensive universities. 

All 12 Actuarial teaching staff are experienced professionals who have achieved research publications, grants, and career milestones.

There are up to 72 scholarships for Bachelor of Actuarial Studies students at ANU. 

Entry Requirements

As of 2023, the entry requirement for a Bachelor of Actuarial Studies at ANU is a minimum ATAR of 92, and the prerequisite for the course is Mathematics Extension 1. 

#3. Monash University

Monash Business School - Actuarial Studies

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Rankings

Monash University is ranked as the 4th best Australian school for Accounting and Finance course by QS Top Universities Rankings 2023 and the 3rd best university for an Actuarial degree.

Monash takes the place as the 6th best university in Australia by the QS Top Universities Rankings 2023 and 36th in the QS Top Universities Rankings for Accounting and Finance in 2023.

About

The Monash Business School started with a faculty for the Bachelor of Economics and has since grown to a School with more than 16,000 students.  

The Monash Business School offers various state-of-the-art teaching facilities such as the Monash Laboratory for Experimental Economics and the Monash Business Behavioural Laboratory.  

Actuarial Studies can be studied in 2 ways: through a major in a Bachelor of Commerce or undertaking a Bachelor of Actuarial Science. However, these two courses have only partial exemptions for accreditation from the Actuaries Institute.  

Entry Requirements

As of 2023, the entry requirement for a Bachelor of Commerce (Major in Actuarial Studies) is a guaranteed ATAR of 86.

For a Bachelor of Actuarial Science, the guaranteed entry is also an ATAR of 86.

For both courses, the prerequisites are a study score of at least 25 in Mathematical Methods or Specialist Mathematics, and a study score of at least 27 in English (EAL) or at least 25 in English other than EAL.

#2. The University of Melbourne 

Melbourne Business School - Actuarial Studies

Image sourced from Urban.com.au

Rankings

The University of Melbourne is ranked 2nd best in the top Australian schools for Accounting and Finance course by QS Top Universities Rankings 2023 and also comes 2nd best for a degree in Actuarial Studies..

It is also the 2nd Best University in Australia according to the QS Top Universities Rankings 2023!

On a global scale, the University of Melbourne is ranked 23rd in the QS Top Universities Rankings for Accounting and Finance in 2023.

About

The Melbourne Business School was founded in 1963, and the University of Melbourne is the second-oldest university in Australia. 

80% of the Melbourne Business school graduates are employed full-time within the first four months of graduating. 34% secure a job with EY, Deloitte, KPMG, PwC or NAB. 

Actuarial Studies is in fact studied as a major in a Bachelor of Commerce and still acquires full accreditation from the Actuaries Institute upon graduation.

The Commerce Achievement Scholarship offers a total value of up to $26,500 for applicants who have just completed their Australian Year 12 qualifications and are applying for a Bachelor of Commerce. Applicants must have achieved a minimum of 98.00 ATAR.

Entry Requirements

The entry requirements for a Bachelor of Commerce (Majoring in Actuarial Studies) is an ATAR of 91.

Prerequisites for majoring in Actuarial Studies is Mathematics Extension 1 and any two units of English.

Find out what it’s like studying a Bachelor of Commerce at ANU!

#1. The University of New South Wales

Image sourced from UNSW Business School

Rankings 

The University of New South Wales Business School is ranked as the best Australian school for Accounting and Finance course by QS Top Universities Rankings 2023 and the best university for an Actuarial degree.

It is also ranked as the 4th overall best university in Australia by the QS Top Universities Rankings 2023. 

Out of the global rankings, the University of New South Wales is ranked 21st in the QS Top Universities Rankings for Accounting and Finance in 2023. 

Learn more about what it’s like studying Actuarial Studies at UNSW!

About

When the UNSW Business School began in 1955, it started as just a single Faculty of Commerce. 

Today, the University of New South Wales Business School is located in the main Kensington campus and has grown into seven sub-schools including the Risk & Actuarial School. As of 2020, there are approximately 14,897 students enrolled in the University of New South Wales Business School.

Teaching staff at the Risk & Actuarial School are well-qualified with many doctorate-level professors and international academics that provide a broad range of perspectives to the academic courses.

There are a number of scholarships available to new students enrolled in a Bachelor of Actuarial Studies such as the Business School Merit Scholarship and the Business School Rural Scholarship.

Entry Requirements

Students applying for a Bachelor of Actuarial Studies in Australia must meet the entry requirement of a 98 ATAR or above. The prerequisite knowledge is Mathematics Extension 1.

Curious about what an Actuary actually does? Check out what Shivee, an Actuary at Swiss Re, does!


Lynn Chen is a Content Writer at Art of Smart Education and is a Communication student at UTS with a major in Creative Writing. Lynn’s articles have been published in Vertigo, The Comma, and Shut Up and Go. In her spare time, she also writes poetry.

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