Master's Degree Risk Management Full Time

Bachelor of Actuarial Science and Master of Actuarial Studies

at Monash University · Melbourne, Victoria

CRICOS course code

113701J

CRICOS provider code

00008C

This course is registered on the Commonwealth Register of Institutions and Courses for Overseas Students. Verify it yourself at cricos.education.gov.au before paying any fee.

Duration

4 years

Tuition (whole course)

A$244,541 total

Per year

A$61,135/yr

Intake

Semester 1 (Feb/Mar), Semester 2 (Jul)

About this program

The Bachelor of Actuarial Science combined with a Master of Actuarial Studies at Monash University provides a robust framework for students aspiring to excel in the field of risk management. This comprehensive programme spans four years and is structured to impart both theoretical knowledge and practical skills essential for a successful career in actuarial science. The curriculum incorporates various units of study focused on mathematics, statistics, finance, and risk assessment methodologies that are critical in addressing real-world challenges.

Throughout the programme, students will engage in a capstone project or research thesis that synthesises their learning and demonstrates their proficiency in solving complex actuarial problems. Additionally, as part of the learning experience, students may participate in work-integrated learning or professional placements, allowing them to apply their knowledge in a professional setting, further enhancing their employability upon graduation.

This course is ideally suited for individuals with a strong mathematical background who are detail-oriented and possess a keen analytical mindset. Graduates will develop significant skills in quantitative analysis, problem-solving, and decision-making, preparing them for various roles in the financial and insurance industries.

Entry requirements

English: International applicants must evidence English proficiency. IELTS Academic 6.0–6.5 overall is the common undergraduate and coursework-postgraduate standard, rising to 7.0–7.5 for teaching, nursing, medicine, law and social work. TOEFL iBT, PTE Academic, Cambridge C1 Advanced and the university’s own English programmes are accepted as equivalents; the Department of Home Affairs sets a separate English threshold for the Student visa itself.

International students: Registered on CRICOS for international students. A Confirmation of Enrolment (CoE) for this course supports a Student visa (subclass 500) application; Overseas Student Health Cover is required for the full duration.

Career outcomes

Actuary
Risk Analyst
Insurance Underwriter
Financial Consultant
Pension Fund Manager

Industries hiring graduates include finance, insurance, superannuation, and consulting sectors. The Australian industry is in need of proficient actuaries, making this qualification highly sought after.

Frequently asked questions

How long is the Bachelor of Actuarial Science and Master of Actuarial Studies at Monash University?

It typically takes 4 years, with intakes in Semester 1 (Feb/Mar), Semester 2 (Jul).

How much is the tuition?

Tuition is around A$244,541 total. Fees change yearly — confirm with an advisor.

What are the career outcomes?

ActuaryRisk AnalystInsurance UnderwriterFinancial ConsultantPension Fund ManagerIndustries hiring graduates include finance, insurance, superannuation, and consulting sectors. The Australian industry is in need of proficient actuaries, making this qualification highly sought afte...

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