Actuary salary Australia: what lands in your bank after tax
Actuaries reported a median salary of $166,678 on 2023–24 tax returns, according to the ATO, but your take-home depends on whether that figure is gross pay or a total package.
Actuary salary: gross, package and take-home
When you see an actuary salary advertised, it can be hard to tell whether the number is your gross pay, a total package including super, or something else. This guide breaks down the latest public figures so you know what to expect in your bank account.
What the ATO says actuaries earn
The Australian Taxation Office publishes salary and wage data from tax returns. For 2023–24, 2,927 people who listed their occupation as actuary reported a median salary or wage of $166,678 and an average of $193,788 . These figures include part-time and part-year workers, so the median is lower than a typical full-time rate. For comparison, statisticians had a median of $111,413 and mathematicians $115,374.
Jobs and Skills Australia’s full-time median
Jobs and Skills Australia publishes a median full-time weekly earnings figure for the combined group of actuaries, mathematicians and statisticians (ANZSCO 2241). That figure is **$2,072 per week, or about **$107,744 a year . That’s well below the ATO’s actuary-only median because it covers all three occupations and excludes part-time employees. The average full-time hours for actuaries is 43 hours per week, and 89% work full-time.
Your take-home pay on a typical actuary salary
Using the ATO median of $166,678, your 2026–27 income tax and Medicare levy (at 2%, with the latest published single-person thresholds of $28,028 and $35,013) reduce your gross to about **$120,603 a year, or $4,639 a fortnight. That’s your take-home pay if you have private hospital cover and no HELP/HECS debt. If you don’t have cover and your income exceeds $105,000, you also pay the Medicare levy surcharge, which reduces take-home further. Use our Take-home pay calculator for your exact situation.
Package vs gross: watch out for super
Many job ads quote a “total package” that includes the employer’s super contribution. From 1 July 2026, the super guarantee is 12% on earnings up to $270,830. If an ad says “$180,000 package”, your gross salary is about $160,714 before super. That changes your tax and take-home. Always check whether the figure is base salary or total package. Our Super guide explains how to compare.
Award coverage and legal minimum
No modern award specifically names actuaries. If you are award-free, your legal floor is the National Minimum Wage: $26.44 an hour and $1,004.90 a week from 1 July 2026. Most actuaries earn well above that, but it’s important to know your rights. If your employer is in financial services, the Banking, Finance and Insurance Award 2020 may apply depending on your duties. Check with Fair Work or your HR team.
Why the numbers differ
The ATO median ($166,678) and the Jobs and Skills Australia full-time median ($107,744) measure different populations. The ATO counts everyone who filed a tax return as an actuary, including part-time and part-year workers. Jobs and Skills Australia uses a survey of full-time non-managerial employees across three occupations. Neither is a legal minimum or a guaranteed salary. Your actual offer will depend on your experience, location, and the employer’s size and industry.
Next steps
- Use our Tax and Medicare guide to see how your salary is taxed.
- See the Average pay page for benchmarks for other occupations.
- If you’re negotiating, our Clearance tool can help you compare offers.
Remember: the actuary salary you see is not what you take home. Always clarify gross, super, and package before you accept.
Questions
What is the average actuary salary in Australia?
Based on 2023–24 ATO data, the average salary or wage for actuaries was $193,788, while the median was $166,678. Jobs and Skills Australia reports a median full-time weekly earnings of $2,072 for actuaries, mathematicians and statisticians combined.
How much take-home pay does an actuary receive?
On the median actuary salary of $166,678, your take-home pay after 2026–27 income tax and the Medicare levy (assuming private hospital cover) is about $120,603 a year, or $4,639 a fortnight. If your salary is part of a package including super, remember super is not deducted from your take-home.
Is the actuary salary figure from the ATO the same as what I'll be paid?
No. The ATO figure includes part-time and part-year workers, so it's lower than a typical full-time rate. Your actual pay depends on your employer, experience, and whether you are covered by an award or enterprise agreement.