Study Actuarial Science

BSc or BCom Actuarial Science, 3-4 years (NQF 7/8), usually with Honours, then professional exams to Fellowship (FASSA)

Pay in South AfricaNot researched for this field yet.

Work abroad3.7 of 5best: Ireland, Australia AI outlookTransformingAI is reinventing the daily work

Getting inVery highcompetition for places · 3-4 year degree

R52 050 to R110 580 first-year fees 11 bursaries list Actuarial Science

School subjects: Maths requiredPhysical Sciences required at some universitiesMaths Literacy not accepted

Entry details and typical minimums

Advanced Programme Mathematics is an advantage at several universities; strong English for the written exams.

Typical minimums: Varies but very demanding; UCT, Stellenbosch, Wits and Pretoria typically expect NSC Mathematics around 80% or higher plus a high APS. Check each faculty's current rules.

Sources: ASSA member designations · ASSA student admissions and exemptions

Pay

Yearly gross pay, turned into rand at the exchange rate. The dot is the typical figure. How pay is measured

USAR1.8–3.0m
IrelandR1.6–3.4m^~
GermanyR1.7m
New ZealandR1.0–2.5m
NetherlandsR1.1–1.8m^~
CanadaR1.1–1.8m
UKR990k–1.8m
AustraliaR1.2m^~

~ limited evidence

Working abroad 3.7 of 5

Score out of 5. Tap a country for steps and visas.

AI outlook

TransformingAI is reinventing the daily work

Statutory actuary roles require a named professional, but modelling and analysis are core AI strengths.

Hands-on In-person care Licensed & accountable

How AI changes each field

Careers

Life insurance actuary
Short-term / general insurance actuary
Pensions and employee benefits consultant
Investment and ALM actuary
Risk and capital modelling analyst
Data scientist / quantitative analyst

ASSA mutual recognition agreements

ASSA has MRAs with the IFoA (UK), Society of Actuaries in Ireland, Institute of Actuaries of Australia, Canadian Institute of Actuaries, Casualty Actuarial Society (US general insurance), Koninklijk Actuarieel Genootschap (NL), DAV (Germany) and the Actuarial Association of Europe. The New Zealand Society of Actuaries also lists ASSA among the bodies it holds mutual recognition agreements with.

Where to study 7

First-year tuition, as published. My Matric Map can check your results against each of these. Tap a university for its entry requirements and dates. Compare study costs

Country by country: steps, exams, visas and pay sources

A maths-heavy degree that gives exemptions from professional exams; you qualify by passing exams to Fellow (FASSA). Actuarial work is employer-driven rather than licence-gated, and FASSA has a recognition route in eight of our nine countries (in the US only through the CAS, which covers general insurance).

Professional regulator: Actuarial Society of South Africa (ASSA)

Where it can take you

Actuarial Science → United Arab Emirates

Overall 3/5 · Moderate

Insurers may only use actuaries registered with the Central Bank; a Fellowship from an approved body is key.

Recognition: 4/5 · Recognised, paperwork only. Mutual recognition or an assessment plus registration. No major exams.
Demand: Some demand

Sources: CBUAE Rulebook - regulations on licensing and registration of actuaries · CBUAE - register an insurance actuary · UAE Government portal - work permits (MOHRE, employer-sponsored) · Abu Dhabi Golden Visa for skilled professionals (AED 30,000 salary, degree)

Qualification and licensing guide

Pay, in rand at the exchange rate

Typical gross pay in each country, turned into rand at the exchange rate. Compare salaries switches between the exchange rate, buying power and after tax, and says how each works.

United States R1.8–3.0m

Ireland R1.6–3.4m^*

Germany R1.7m

New Zealand R1.0–2.5m

Netherlands R1.1–1.8m^*

Canada R1.1–1.8m

United Kingdom R990k–1.8m^*

Australia R1.2m^*

South Africa · pay range · starting pay · hover or tap a bar for details · gross pay a year, low to high estimate; the bar ends at the typical figure · * weaker figure

Country	Typical gross pay	Range and starting pay	Occupation and source
United Kingdom	GBP 53 342 Median 2025	GBP 41 906 to 74 372 25th to 75th percentile, 2025 · ONS ASHE 2025 (provisional), Table 14.7a Annual pay - Gross, full-time · SOC 2433 Actuaries, economists and statisticians, full-time, April 2025; understates qualified actuaries. Starting GBP 32 000 Trainee/student actuary, first job after the degree, 2026 · National Careers Service job profile: actuary ('Starter' salary) · NCS starter 32,000; experienced 70,000. Fellowship usually takes 6-8 years.	SOC2020 2433 Actuaries, economists and statisticians ONS ASHE 2025 (provisional), Table 14.7a Annual pay - Gross, full-time · Median gross annual, full-time, April 2025. Code combines actuaries with economists/statisticians, so understates qualified actuaries. CV 8.4%.
Ireland	EUR 109 333 Middle of the advertised range 2026	EUR 80 000 to 170 000 salary survey range, 2026 · Morgan McKinley Ireland Salary Guide 2026 (permanent salaries) · low confidence · Qualified Actuary only, lowest to highest across bands and 5 cities (same source as typical). Qualification takes ~4-6 years; part-qualified range 40,000-80,000. Starting EUR 33 800 First year after an L8 degree, typically a student/part-qualified actuary, 2023 · CSO Higher Education Outcomes, table HEO12 Graduate Earnings (NFQ Level 8, 2022 graduates, year 1): Natural Sciences, Mathematics and Statistics · low confidence, not shown on the chart · EUR650/wk x52. Median, earned 2023. Broad field of study; includes part-time workers, so understates full-time pay. Weak proxy: MM part-qualified actuary 0-3 yrs is 40,000-55,000.	Qualified Actuary (Insurance) Morgan McKinley Ireland Salary Guide 2026 (permanent salaries) · Midpoint of each published band (0-3/3-5/5+ yrs) averaged over bands and the 5 listed cities. Range EUR80,000-170,000, qualified actuaries only. Part-qualified actuaries average about EUR51,000.
Netherlands	EUR 72 176 Median 2025	EUR 55 328 to 91 104 25th to 75th percentile, 2025 · CBS StatLine 86355NED Werknemers; uurloon en beroep (p25/p75 gross hourly) · low confidence · BRC 2014 0711 Biologen, wiskundigen en natuurwetenschappers, employees, 2025: p25 26.60/h, p75 43.80/h x2080, excl. holiday pay (as typical). Proxy group as typical; understates qualified actuaries. Starting EUR 49 109 New wo-master graduate, 1 year after leaving university, 2024 · CBS StatLine 83815NED Uitstromers ho; uurloon na verlaten onderwijs (median, cohort 2022/'23, 1 yr after leaving) · low confidence, not shown on the chart · Wo-master 'Economie': median 23.61/h x2080, Oct 2024, employees. Actuarial science/econometrics sits in the economics field; whole-field median likely understates.	BRC 2014 0711 Biologen, wiskundigen en natuurwetenschappers CBS StatLine 86355NED Werknemers; uurloon en beroep · Median gross hourly x2080 (40h x52). Hourly excl. holiday pay, NL full-time ~36-38h; errors largely offset. CBS codes actuarissen here with scientists; likely understates qualified actuaries.
Germany	EUR 83 724 Median 2025	Not researched yet	KldB 2010 41184 Berufe in der Mathematik (sonstige spezifische Tätigkeitsangabe) - hoch komplexe Tätigkeiten BA Entgeltatlas (Beschäftigungsstatistik), Stichtag 31.12.2025 · Median monthly gross full-time x12. Employees in social insurance only (no self-employed/Beamte); capped at 8,050 EUR/mo. Aktuare/Wirtschaftsmathematiker coded here; no separate actuary code. n=2,124.
United States	USD 130 000 Median 2025	USD 97 680 to 170 650 25th to 75th percentile, 2025 · BLS OEWS May 2025 national (via BLS Public Data API) · OEWS May 2025 national annual 25th/75th percentile for SOC 15-2011; p10 $78,570, p90 $215,100; not top-coded. Starting USD 58 100 1 year after a bachelor's in management science & quantitative methods (CIP 52.13, which includes actuarial science), 2022 · College Scorecard field-of-study data (Jun 2026 release), EARN_MDN_1YR · low confidence, not shown on the chart · Grad-weighted median of program medians, earnings 1 yr after completion (2018-20 grads, CY2020-21, 2022 $; working & not enrolled, incl. part-time). Actuarial science cannot be isolated at 4-digit CIP; entry-level actuaries with exams passed typically earn more.	15-2011 Actuaries BLS Occupational Employment and Wage Statistics (OEWS), May 2025 national · OEWS national median annual wage, May 2025.
Canada	CAD 106 080 Median 2024	CAD 87 006 to 140 005 25th to 75th percentile, 2024 · Job Bank wage data 2025 release (LFS 2023-2024), national quartiles · Job Bank Q1/Q3 hourly C$41.83/C$67.31 x2080, NOC 21210, LFS 2023-24. Low/high (~p10/p90): C$65,000/C$160,846. Includes mathematicians and statisticians. Starting CAD 59 000 2 years after a bachelor's in mathematics and statistics, actuarial-student stage, 2024 · Statistics Canada Table 37-10-0281 (ELMLP), graduates two years after graduation · low confidence, not shown on the chart · Median employment income 2 yrs after graduation (2022 grads, measured 2024, 2024 $); excludes full-time students, includes part-time/part-year workers. No actuarial-only figure; all math/statistics grads, many not in actuarial jobs.	21210 Mathematicians, statisticians and actuaries Job Bank wage data (open data), Labour Force Survey · No actuary-only NOC code; figure covers mathematicians and statisticians too. National median hourly wage C$51.00 x 2080 h. Job Bank/LFS reference period 2023-2024, published 19 Nov 2025.
Australia	AUD 107 744 Median 2025	Starting AUD 76 000 About 4 months after completing the bachelor's degree, full-time employed domestic graduates, 2025 · QILT Graduate Outcomes Survey 2025 national report tables: median full-time salary, undergraduates, by 45 study areas ('Banking and finance') · low confidence, not shown on the chart · No actuarial-only figure; actuarial studies sit in 'Banking and finance' (incl. insurance/actuarial). Mathematics median 82,000.	Actuaries, Mathematicians and Statisticians (ANZSCO 2241) ABS Survey of Employee Earnings and Hours, May 2025 (customised report), via JSA Occupation Profiles · Median $2072/wk x52; FT non-managerial adult-rate employees, before tax. Actuaries (224111) pooled with mathematicians/statisticians; small group, so this understates actuaries.
New Zealand	NZD 157 000 Median 2026	NZD 99 000 to 244 000 careers service range, 2026 · Tahatu Career Navigator job profile: Actuary ('most common' pay range) · Tahatu 'most common' band (full published range 68,000-336,000); Stats NZ IDI/Census + IR data, percentiles not defined, no vintage stated. Starting NZD 64 000 Maths/statistics graduate, year 1 after the bachelor's, 2026 · Tahatu Career Navigator study page 'Bachelors degrees in mathematics and statistics': median employed income 1 year after completion (Stats NZ IDI + IR) · low confidence, not shown on the chart · Published in $ thousands; vintage not stated; includes part-year/part-time earners. Proxy: no actuarial-specific figure. Year-1 p25-p75 49k-74k.	Actuary Tahatu Career Navigator (Ministry of Education / Tertiary Education Commission careers service) · Published range $68,000-$336,000, most common $99,000-$244,000. Very wide range. From Stats NZ Census/IDI + Inland Revenue data; no vintage stated (year = year observed).

General information, not immigration or legal advice. Researched 2026-10-07.