Business & Finance
Actuary
You use advanced maths to price risk for insurance, pensions and banks.
- Starting salary
- R30 000 – R50 000
- Job demand
- Growing fast
- Key subjects
- Mathematics, Physical Sciences
What do they do?
You use advanced maths to price risk for insurance, pensions and banks.
A day in the life
You build statistical models, analyse risk data and advise companies on the future cost of decisions.
Skills you need
- Advanced maths
- Statistics
- Persistence
- Communication
School subjects that help
- Mathematics
- Physical Sciences
- Accounting
How long does it take?
3 main steps after school, usually 3–6 years of study, plus practical experience.
Study path
- 1High school
- 2BSc Actuarial Science
- 3Professional exams (several years)
- 4Qualified actuary
Ways in: University degree · Professional certification (ASSA). University is not the only route.
Where can I study?
- University of Cape Town
- University of the Witwatersrand
- Stellenbosch University
- University of Pretoria
- University of the Free State
- North-West University
Admission requirements differ by institution, always check the official website.
What can I earn?
Entry level
R30 000 – R50 000
per month (estimate)
Mid career
R60 000 – R100 000
per month (estimate)
Experienced / senior
R120 000 – R250 000+
per month (estimate)
Estimated salary ranges only. Salaries vary based on experience, qualification, industry, location and employer.
How to start preparing now
- • Push yourself in maths
- • Learn basic probability
- • Play strategy and prediction games
Try this career
Work out the odds of winning a simple dice game, then test it 50 times.
Related careers
Like this field but not sure about this exact job? Try these.
This tool is designed to help you explore career possibilities. It does not replace professional career counselling, school guidance or official university admission requirements.