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University of New South Wales (UNSW)

  • 34% international / 66% domestic

Master of Actuarial Studies (Extension)

  • Masters (Coursework)

The Master of Actuarial Studies (Extension) equips you with the data analytics and quantitative risk management training for success in an actuarial career, or a career in finance.

The extension program adds four courses to the Master of Actuarial Studies.

Key details

Degree Type
Masters (Coursework)
Duration
2 - 2 years full-time
Study Mode
In person
Domestic Fees
$38,000 per year / $117,000 total

About this course

Overview

The Master of Actuarial Studies (Extension) equips you with the data analytics and quantitative risk management training for success in an actuarial career, or a career in finance.

The extension program adds four courses to the Master of Actuarial Studies. This allows you to complete the professionally accredited courses to become an actuary, as well as to broaden your knowledge through electives in actuarial studies, risk management, business, or options in mathematics and in computer science. The program is accredited by the Actuaries Institute.

The program has also earned the University-Earned Credit (UEC) program status for Financial Mathematics (FM) exam and Statistics for Risk Modelling (SRM) exam. This UEC program facilitates the pathway for students who pursue the Society of Actuaries (SOA)

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profession by providing opportunities to earn credit for SOA exams.

You'll learn to apply advanced analytical techniques, deliver highly valued data analytics, and actionable insights. You'll also develop a specialist quantitative skill set in actuarial models, financial mathematics, probability, machine learning / artificial intelligence analytics, and commerce.

As a graduate of of actuarial studies you'll be in high demand as your training will equip you to help businesses, governments, not-for-profit organisations, and individuals make critical decisions for the future. You'll graduate ready for a quantitative role in a range of industries including financial services, insurance, and superannuation.

Key features

Learn from industry leaders

Our courses are taught by world-leading academic staff and professionally qualified actuaries, with involvement from industry partners.

A pathway to professional accreditation

Through this degree you can gain exemptions to the Actuaries Institute's professional accreditation exams. Professional accreditation through the Actuaries Institute provides mutual recognition at major international actuarial bodies such as the Institute and Faculty of Actuaries in the UK and the Society of Actuaries in the US.

Why study this degree at UNSW?

You'll study at UNSW Business School, which has been ranked the #1 business school in Australia by AFR BOSS for the last two years in a row*. That means our business education leads the way in career impact, quality and reputation.

The UNSW School of Risk and Actuarial Studies is a designated Centre of Actuarial Excellence (US Society of Actuaries), and a 2021 Casualty Actuarial Society (US) University Award winner.

Our industry connections and world leading research are embedded into our programs to ensure your knowledge, skills and experience are relevant, forward-looking, and in-demand.

*AFR BOSS 2023 Best Business School Rankings

Program Code
8416
CRICOS Code
068778K
Campus
Kensington
Total Units of Credit (UOC)
96
Indicative Enrolments
70
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Entry requirements

Entry requirements

To be eligible for this program, you must have a recognised bachelor degree (or equivalent qualification) with a substantial component of mathematics, statistics, econometrics or actuarial studies, with a credit average, as determined by the UNSW Business School.

Applicants are expected to have a mathematics background equivalent to a full year of calculus and linear algebra at first-year university undergraduate level.

Entries are also open to students with background in related disciplines including financial engineering, data science, data engineering, physics, engineering, any related quantitative field.

Recognition of prior learning or professional recognition

Advanced standing, or recognition of prior learning is credit granted for experience and prior studies that are relevant to the program. It may be granted for courses covered in an undergraduate program, or the examinations of the Actuaries Institute (Australia), the Institute of Actuaries (UK), or the Society of Actuaries.

If you aren't eligible for advanced standing where you have relevant prior learning, you may be able to take some substitution courses, so that you aren't learning material you have already covered.

English language requirements

You may be asked to provide evidence of your English proficiency to study at UNSW depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.

If you're completing an Australian Year 12 qualification (e.g. NSW HSC or equivalent), you do not need to provide anything extra to prove your proficiency. Your qualification will be used as evidence of your English proficiency.

If you do need to provide evidence of your English proficiency, this will be indicated in your application. You can prove this by providing evidence that you meet one or more of the following criteria:

  • English language tests and university English courses
  • Prior study in the medium of English
  • Other qualifications

If you need to improve your English skills before you start your degree, UNSW College's Academic English Programs are for you. The programs are suitable for various English levels and help you prepare for university studies and life in Australia.

To be eligible for this program, you must have a recognised bachelor degree (or equivalent qualification) with a substantial component of mathematics, statistics, econometrics or actuarial studies, with a credit average, as determined by the UNSW Business School.

Applicants are expected to have a mathematics background equivalent to a full year of calculus and linear algebra at first-year university undergraduate level.

Entries are also open to students with background in related disciplines including financial engineering, data science, data engineering, physics, engineering, any related quantitative field.

Recognition of prior learning or professional recognition

Advanced standing, or recognition of prior learning is credit granted for experience and prior studies that are relevant to the program. It may be granted for courses covered in an undergraduate program, or the examinations of the Actuaries Institute (Australia), the Institute of Actuaries (UK), or the Society of Actuaries.

If you aren't eligible for advanced standing where you have relevant prior learning, you may be able to take some substitution courses, so that you aren't learning material you have already covered.

English language requirements

You may be asked to provide evidence of your English proficiency to study at UNSW depending on your educational background and citizenship. English language skills are vitally important for coping with lectures, tutorials, assignments and examinations - this is why UNSW requires a minimum English language competency for enrolment.

If you're completing an Australian Year 12 qualification (e.g. NSW HSC or equivalent), you do not need to provide anything extra to prove your proficiency. Your qualification will be used as evidence of your English proficiency.

If you do need to provide evidence of your English proficiency, this will be indicated in your application. You can prove this by providing evidence that you meet one or more of the following criteria:

  • English language tests and university English courses
  • Prior study in the medium of English
  • Other qualifications

If you need to improve your English skills before you start your degree, UNSW College's Academic English Programs are for you. The programs are suitable for various English levels and help you prepare for university studies and life in Australia.

Study locations

Kensington

Career pathways

Future careers

With highly transferable skills in actuarial studies, business, analytics, and statistics, you can move across, and succeed in the private sector, financial institutions, and government departments. UNSW Business School's Career Accelerator provides work experiences and professional development opportunities to help get you started.

Potential careers
  • Actuarial Analyst
  • Asset Management Trainee
  • Business Consultant
  • Credit Analyst
  • Data Analyst
  • Insurance Analyst
  • Investment Banker
  • Management Consultant
  • Risk Assessment Officer
  • Superannuation Adviser
  • Wealth Management Analyst
  • Derivatives Trader
Accreditation

The Master of Actuarial Studies provides a strong foundation for becoming an actuary or working within a related field. You can earn exemptions from courses in the Actuaries Institute's Foundation and Actuary Program in Australia, or VEE credit from the Society of Actuaries (USA). Mutual recognition arrangements between major actuarial associations also mean that your professional qualifications are internationally transferrable.

Graduate outcomes

Graduate satisfaction and employment outcomes for Business & Management courses at University of New South Wales (UNSW).
83.6%
Overall satisfaction
82.8%
Skill scale
69.9%
Teaching scale
93.7%
Employed full-time
$125k
Average salary