What is the average actuary salary in Australia?

According to the ATO's 2023–24 tax returns, the average salary or wages for actuaries was $193,788, while the median was $166,678. For full-time actuaries, mathematicians and statisticians combined, the median full-time weekly earnings are $2,072 per week according to Jobs and Skills Australia.

How is actuary pay taxed in Australia?

Actuary pay is taxed using the 2026–27 resident rates: nil up to $18,200; 15% to $45,000; 30% to $135,000; 37% to $190,000; 45% above that, plus the Medicare levy of 2%. For a median actuary salary of $166,678, the annual tax and Medicare levy is about $46,075, leaving take-home of about $120,603 per year, or $4,639 per fortnight.

Is there an award for actuaries?

No modern award names actuaries. The Banking, Finance and Insurance Award 2020 may cover some roles if the duties match its classifications, but it does not mention actuaries. If no award applies, the legal floor is the National Minimum Wage: $26.44 per hour from 1 July 2026, or $1,004.90 per week for 38 hours.

Actuary Salary Australia 2026: Hourly, Annual, Tax and Super Guide

Based on 2023–24 ATO tax returns, the median actuary salary Australia is $166,678 per year, which equates to roughly $84.30 per hour for a 38-hour week.

Actuary salary Australia: official figures

Actuaries in Australia earn well above the national average. According to the ATO's 2023–24 tax returns, 2,927 people reported their occupation as actuary, with a median salary or wages of $166,678 and an average of $193,788. Jobs and Skills Australia reports median full-time weekly earnings for actuaries, mathematicians and statisticians at $2,072 per week ($56 per hour). This guide helps you convert these figures to hourly, fortnightly, and annual pay, including tax and super.

Hourly conversion

To find the hourly rate from an annual salary, divide by the number of hours worked per year. Assuming a standard 38-hour week and 52 weeks, the formula is:

hourly rate = annual salary ÷ (38 × 52)

For the median actuary salary of $166,678: $166,678 ÷ 1,976 = $84.33 per hour

For the average of $193,788: $193,788 ÷ 1,976 = $98.07 per hour

For the full-time median of $107,744 (from Jobs and Skills Australia): $107,744 ÷ 1,976 = $54.53 per hour

If you are paid a casual loading, add 25% on top of the base rate. The Fair Work Ombudsman's minimum wage for adults is $26.44 per hour from 1 July 2026, or $33.05 with casual loading.

Fortnightly pay

Fortnightly pay is simply weekly pay multiplied by two. For the median actuary salary:

Weekly: $166,678 ÷ 52 = $3,205.35
Fortnightly: $3,205.35 × 2 = $6,410.70 (before tax)

After tax and Medicare levy, the take-home is about $4,639 per fortnight. Use the ATO's fortnightly tax table to work out withholding.

Tax and super

Resident tax rates for 2026–27 are:

$0 – $18,200: nil
$18,201 – $45,000: 15%
$45,001 – $135,000: 30%
$135,001 – $190,000: 37%
$190,001 and over: 45%

Plus the Medicare levy of 2% (generally). For a median actuary salary of $166,678, the tax and Medicare levy is approximately $46,075, leaving $120,603 take-home.

Superannuation guarantee is 12% of ordinary earnings, paid on top of your salary, up to the maximum contribution base of $270,830. For $166,678, super is $20,001.36 (12% of $166,678) added to your fund.

Award coverage and legal floor

No modern award names actuaries. The Banking, Finance and Insurance Award 2020 may cover some roles if the duties match its classifications, but the award text does not mention actuaries. If no award applies, the legal floor is the National Minimum Wage: $26.44 per hour from 1 July 2026, or $1,004.90 per week for 38 hours. Casual loading of 25% applies if you are a casual employee.

Using the timesheet

Our hourly conversion tool lets you enter your base hourly rate and add 25% casual loading. It calculates annual, weekly, and fortnightly pay. It does not assume any rate already includes casual loading. Use the take-home pay page to see after-tax figures.

Conclusion

Actuary salary Australia figures are well above average. Use the official sources: ATO, Jobs and Skills Australia, and the Fair Work Ombudsman. Convert your hourly rate using 38 hours × 52 weeks. Remember super is paid on top, tax is withheld using the 2026–27 rates, and the Medicare levy applies. No award names actuaries, so check your contract or enterprise agreement for penalty rates and overtime.

Disclaimer: Annual pay here is hourly rate × hours per week × 52. It assumes the same rate every week, no unpaid overtime, no penalty rates, no allowances, and no salary sacrifice. Super is estimated at 12% of ordinary earnings only, paid on top, and stops at the $270,830 maximum contribution base. Tax is the 2026–27 resident scale with the full tax-free threshold. Medicare uses the 2025–26 single reduction thresholds because the 2026–27 reduction thresholds were not confirmed here. HELP, the Medicare levy surcharge, and salary packaging are not deducted. This is an estimate, not a determination of your pay or tax.**