Cooperative education program in actuarial studies

Our co-op programs attract high-achieving students who demonstrate a variety of skills and interests. You should have an interest in maths, coding, business and using data for problem-solving.

Actuarial Studies Co-op applicants must meet all of the following criteria:

• completing or have completed their HSC (or equivalent)
• show a genuine interest and motivation to enter the actuarial profession
• active in school and/or community activities
• able to demonstrate exceptional communication, teamwork, problem-solving, innovation, service and leadership skills
• expecting to achieve or have achieved a minimum of Band E4 for HSC Mathematics Extension 2 (or equivalent). For International Baccalaureate (IB) applicants, this is equivalent to a grade of 6 or 7 in Further Mathematics (HL) or Mathematics: Analysis and Approaches (HL)
• expecting to achieve or have achieved a minimum selection rank of 98.00 (which includes a maximum of 5 Educational Access Scheme adjustment points, if eligible)
• no other type of adjustment points will be considered for this requirement
• students expecting a selection rank of 95.00 or above are strongly encouraged to apply.
• be an Australian or New Zealand citizen or permanent visa holder

You will undertake three full-time placements over the course of four years (approximately 15 months in total).

The number of co-op places offered depends on the number of sponsors supporting each new cohort of co-op students. This may vary year by year.

Placement timetable

The first placement is for approximately three months at the end of the first year (over the summer vacation). The second and third placements are approximately six months each, undertaken throughout the third year.

Note: Placements are indicative time frames only. Exact placement dates determined in negotiation with sponsor organisations.

Placement locations and professional expectations

Placements are undertaken at our partner organisations, and each placement is generally undertaken at a different organisation.

Placements are carefully structured and closely supervised learning experiences that allow you to put your learning into practice in the workplace. You will undertake activities that align with the learning outcomes of the placement unit and will be expected to abide by the partner companies’ professional codes of conduct.

Scholarships and insurance

Actuarial Studies Co-op students receive their scholarship ($21,600 per annum) via across two instalments between semester one (1) and two (2) throughout the 4 year program. While students are undertaking their vocational placements but they will not be paid by the sponsor organisation. To learn if your scholarship is tax-deductible, Macquarie recommends that you seek advice based on your personal circumstances. You may wish to consult the Australian Taxation Office for further assistance.

In general, you cannot accept an additional scholarship while enrolled into the Actuarial Studies Co-op program. However, there are exemptions. If you have been offered another scholarship, contact the Coursework Scholarships and Prizes Unit on +61 (2) 9850 7337 or csap@mq.edu.au for advice.

Actuarial Studies Co-op students will be covered by a combination of the University’s and the partner organisation’s insurance cover.

The professional practice component of the program consists of four core units taken over the course of the four-year co-op program.