Gain in-depth work experience with your honours degree

Develop your professional skills and networks across different workplace settings and bring your practical experience back to the classroom to further enhance your studies.

Our Actuarial Studies Co-op Program is a highly competitive full-time honours degree. You'll graduate with practical knowledge, strong professional networks and enhanced employability in your chosen field.

Co-op students alternate between classroom studies and workplace experience in the form of three industry placements of up to three to six months combined with on-campus preparatory and reflective practice components.



Reasons to study actuarial studies at Macquarie University

Macquarie University is recognised as a world leader in actuarial education and the longest-running actuarial degree in Australia. We're designated as a Centre of Actuarial Excellence by the US-based Society of Actuaries.

Learn more about the Bachelor of Actuarial Studies with Professional Practice (Honours), including its key features, career outcomes and professional recognition.

Image of Siya Patel

Macquarie’s Actuarial studies co-op program has provided me the opportunity to gain invaluable experiences in the workforce while I am still pursuing my undergraduate studies. Through this ability to network with professionals, I have been taught many priceless interpersonal skills that I can utilise in both my professional and daily life.

Siya Patel, Actuarial Studies Co-op student

Actuarial Studies Co-op partners

Additional program details

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.

Year

Summer vacation
(Jan–Feb)

Session 1
(Mar–Jun)

Winter vacation
(Jul)

Session 2
(Aug–Nov)

Session 3/Summer vacation
(Dec)

1st

 

Study

 

Study

Placement 1
(begins)

2nd

Placement 1
(ends)

Study

 

Study

 

3rd

Placement 2
(begins)

Study

Placement 2

Placement 2
(ends)

Placement 3
(begins)

Study

Placement 3

Placement 3
(ends)

4th

 

Study

 

Study

 

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.

Year

1st year
(Session 2)

1st year
(Session 3)

3rd year
(Session 1)

3rd year
(Session 2)

Unit code

PROF1000

PROF2000

PROF3000

PROF4000

Unit name

Introduction to Professional Practice

Professional Practice Placement 1

Professional Practice Placement 2

Advanced Professional Practice and Reflection Practice Placement 3

Delivery

Classroom-based, career identity, professional expectations

In coordination with the three-month placement

In coordination with the six-month placement

In coordination with the six-month placement

Credit points

10cp

10cp

30cp

30cp