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What will I learn?

The Melbourne Business School's Graduate Diploma in Actuarial Science is a one-year degree that prepares you to enter the actuarial profession. Graduate Diploma students can apply to transfer to the Master of Actuarial Science if you wish to gain additional benefits offered by the two-year degree.

Who is it for?

This program is suitable for graduates who have a bachelors degree that includes a strong mathematical component. It's also open to graduates who have completed some Part I professional exams.

Employment Opportunities

Graduates of this program have found employment in the following roles:

  • Actuary, Towers Watson Australia
  • Graduate Consultant, Bain & Company
  • Actuary, Territory Insurance Office
  • Analyst – Strategic Change, National Australia Bank

Practical Skills

You will leave the degree with a number of essential skills, including the ability to:

  • be a critical thinker in relation to actuarial studies and related disciplines
  • be analytical in the application of actuarial theory, knowledge, principles, techniques and data.

Which department am I in?

Faculty of Business and Economics



Study options

Full Time (1 year)

Tuition fees
A$46,752.00 (25,43,634) per year
Start date

February 2023


The University of Melbourne

Parkville Campus,

Grattan Street,



3010, MELBOURNE, Australia

Entry requirements

For students from United States

Applicants need to successfully complete an undergraduate degree. English language requirements: IELTS (academic English Only) - 6.5 overall, with written 6.5 and no band less than 6.0; TOEFL (paper-based test) - 577 + TWE 4.5; TOEFL (internet-based test) - 79 + (Writing 21; Speaking 18; Reading 13; Listening 13); Pearson Test of English – you need an overall score from a minimum between 58-64 inclusive and achieve no PTE communicative skills score below 50; Cambridge English, Advanced/Certificate in Advanced English (CAE) – you need a Cambridge English Score from a minimum 176 with no skill below 169.

For international students

In order to be considered for entry, you must have completed:

An undergraduate or postgraduate degree with the equivalent of a major in mathematically based subjects equivalent of a major in mathematically based subjects, for example, studies in mathematics, statistics, physics, engineering.

Minimum scores and tests accepted

  • IELTS: 6.5 (with no band less than 6.0)
  • TOEFL (paper test): 577 with TWE 4.5
  • TOEFL (internet): 79 with Writing 21, Speaking 18, Reading 13, Listening 13
  • Pearson Test of English (Academic): 58-64 inclusive and no communicative skill below 50.

Application deadline - 30 October for Semester 1 intake

*There may be different IELTS requirements depending on your chosen course.