Sustainable societies need actuaries
Actuaries will always be in demand to plan for the future. They predict and analyse financial risks and solve business problems in many industries.
Actuaries can contribute to policy work on climate change, future health and retirement provision, and natural disaster planning.
Study at the only university in New Zealand to offer Actuarial Science qualifications and courses.
Who can study for this qualification
You’ll need a Bachelor's degree with a major in Actuarial Science, Finance, Statistics, or a related field, with at least a B+ grade average.
What you’ll learn
The Master of Actuarial Science is the only Master’s-level actuarial science qualification offered in New Zealand. Your skills will be in strong demand globally and in New Zealand.
You’ll hone your abilities to:
- analyse and interpret financial and stochastic information
- solve complex problems in risk management
- make accurate and methodical decisions under uncertainty
- communicate complicated scenarios to relevant stakeholders.
Your studies will connect you with organisations in the public and private sectors that employ actuaries, giving you the opportunity to build a powerful network of contacts that will benefit you in your future career.
A fast track to professional accreditation
Qualified and accredited actuaries belong to professional bodies to show employers and clients that they have the expertise and knowledge needed to be a successful actuary. It is a profession that is highly regarded for its skills, ethics, and professionalism.
The Master of Actuarial Science will provide you with a fast track to Actuaries Institute of Australia accreditation, which is recognised in both New Zealand and Australia. Graduates will be exempt from all but two of the exams required for accreditation, allowing you to become an accredited actuary faster.
How you’ll study
The MActSc is 180 points. Studying full time, you’ll complete it in one and a half years: typically Trimesters 1 and 2 in your first year, and Trimester 1 in your second year.
If you study part time, it will take longer.
Entry requirements
Entry requirements for domestic students
- Requirements for students who completed university in:
If you live in New Zealand and are a citizen or permanent resident of New Zealand or Australia, you're considered a domestic student.
Some citizens of the Cook Islands, Niue, and Tokelau may automatically hold New Zealand citizenship.
Diplomatic residents living in New Zealand are also regarded as domestic students.
To be accepted into this qualification, you need:
1. (a) Before enrolment, a candidate for the MActSc degree shall have:
(i) completed an appropriate Bachelor’s degree with a major in Actuarial Science, Finance, Statistics, or a related field, with the equivalent of at least a B+ average standard in the relevant subject; and
(ii) been accepted by the programme director as capable of proceeding with the proposed course of study.
(b) Requirement (a)(i) may be waived by the Associate Dean (Students) of the Wellington School of Business and Government for a candidate who has extensive practical, professional, or scholarly experience of an appropriate kind.
Qualification requirements
Excerpt from the regulations for the MActSc
2. (a) Except as provided in (b), or section 4, the course of study for the MActSc shall consist of courses worth at least 180 points, including:
(i) Actuarial Control Cycle I (ACTS 511), Actuarial Control Cycle II (ACTS 512), Data Science for Actuaries (ACTS 513), Derivative Securities (FINA 403), Fixed Income Securities (FINA 406) and two courses from FINA 404, Stochastic Processes (STAT 433), Time Series (STAT 435), Generalised Linear Models (STAT 438)
(ii) 60 further approved 400- or 500-level points in AIML, COMP, DATA, STAT, MATH, or postgraduate courses offered by the Wellington School of Business and Government.
(b) The programme director may exempt from any course listed in (a)(i) a candidate who has mastered the material covered in that course through previous study and/or practical experience. Credit may be awarded where the previous study involved postgraduate courses not credited to a complete qualification; otherwise, the candidate shall replace exempted courses with approved postgraduate electives of an equivalent points value.
3. (a) A candidate shall normally be enrolled for at least three trimesters and shall complete the degree within four years of first enrolling in the programme.
(b) A candidate who has failed two or more courses, or any course twice, may continue in the programme only with the permission of the associate dean.
Future careers
Actuaries are highly regarded for their skills, ethics, and professionalism, and accreditation by a professional body shows employers and clients that you have the expertise to succeed.
The MActSc is the only Master’s-level actuarial science qualification offered in New Zealand. It gives you a fast track to Actuaries Institute of Australia qualifications, which are recognised in New Zealand, Australia, and many other countries. Your skills will be in strong demand both here and globally.
Actuaries make recommendations and decisions that affect people’s lives. You could:
- work on investment programmes in the private or public sectors
- design life insurance products
- manage pension schemes
- advise government on retirement, education, and health planning.
More career information
Find out more about careers in actuarial science on our 'What can I do with my degree' page for this subject.
The government careers website, Tahatū, offers more information about jobs, salaries, and current opportunities.
Scholarships
You may be able to get a scholarship to help fund your studies.
One scholarship specifically for Actuarial Science students is:
We have postgraduate and doctoral scholarships available, as well as specialised scholarships for different groups and subject areas. If nothing fits right now, something may suit you later.
We encourage you to apply. It’s a straightforward process, and it could make a real difference.
Scholarships for Actuarial Science students
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In honour of Jonathan Nicholls (ACC's Head of Actuarial Services who passed away in early 2015), ACC wishes to promote the actuarial profession in much the same way that Jonathan did. ACC is dedicated to supporting Actuarial Science students and others looking to pursue a career in the actuarial profession.
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The fund, which was established at the time of the renovation of the C3 lecture theatre, is to assist a second-year student from any faculty in their studies at Te Herenga Waka—Victoria University of Wellington
Scholarships for international students
We're currently offering a NZ$10,000 VUW Postgraduate International Scholarship to all eligible international students enrolling in a Master’s degree or Postgraduate Diploma programme.
Your scholarship will be processed automatically when your programme application is accepted, and the amount will be deducted from your tuition fees.
Other scholarships
We have postgraduate and doctoral scholarships available, as well as specialised scholarships for different groups and subject areas. If nothing fits right now, something may suit you later.
We encourage you to apply. It’s a straightforward process, and it could make a real difference.
Scholarships for Actuarial Science
-
In honour of Jonathan Nicholls (ACC's Head of Actuarial Services who passed away in early 2015), ACC wishes to promote the actuarial profession in much the same way that Jonathan did. ACC is dedicated to supporting Actuarial Science students and others looking to pursue a career in the actuarial profession.
Join our postgraduate community
The Postgraduate Students’ Association provides a voice for you on campus and information on studying at Te Herenga Waka—Victoria University of Wellington.
Postgraduate Students’ Association
MAI ki Pōneke
MAI ki Pōneke are part of an international network of Māori and Indigenous postgraduate students. They provide advice, support, and information to Indigenous postgraduate students of all levels, as well as those thinking about enrolling.
Why Wellington
Wellington is the administrative and financial centre of New Zealand. Take advantage of the University's connections with government agencies such as the Treasury and the Reserve Bank, and many other private sector institutions and professional bodies.
Study for a PhD
If you do well in your Master’s degree, and show an aptitude for advanced research, you’ll be able to apply to do a PhD.
You’ll carry out original and sustained research under supervision from world-class academics in the Wellington School of Business and Government.
As a PhD candidate, you’ll also be supported by the Faculty of Graduate Research.
Academic staff and their research areas
Toby Daglish
Head of School
Hai Lin
Professor of Finance
Budhi Surya
Senior Lecturer in Statistics
Eric Ulm
Associate Professor of Actuarial Science
Get help to manage your finances
We can help you:
- budget your money
- manage your student loan or allowance
- work out your accommodation payment schedule.
If you’re facing financial difficulties, we can help you apply for the Hardship Fund.
You may be eligible for government or community support, too.
Apply for a New Zealand study visa
You’ll need to apply for a study visa if you plan to study with us as an international student.
You should apply for your visa after you’ve received your Offer of Place, and before you come to New Zealand.