Actuary Salary Sydney: Legal Minimum vs Market Rates in 2026

Actuary salary Sydney: what you need to know

If you are researching an actuary salary in Sydney, it helps to separate the legal minimum from what employers actually pay. This guide uses the latest public figures from the Fair Work Commission, the Australian Bureau of Statistics (ABS), and Jobs and Skills Australia to give you a practical check.

The legal pay floor for actuaries

Actuaries are highly skilled professionals who analyse financial risk. Most are not covered by a modern award. Instead, they are either award-free or employed under an enterprise agreement. For award-free employees, the national minimum wage set by the Fair Work Commission is the legal floor. From 1 July 2026, the adult rate is $26.44 per hour or $1,004.90 per week for a 38-hour week. Casual employees receive a 25% loading, making the minimum $33.05 per hour.

It is important to remember that junior employees, apprentices, trainees, and supported wage employees may be paid less. The Fair Work Ombudsman explains and enforces these rules. If a modern award or enterprise agreement covers the role, the minimum rate in that document applies – and it must be at least the national minimum.

Survey averages for actuaries in Sydney

While the legal minimum is a useful baseline, actual actuary salaries in Sydney are much higher. PayScale, a salary survey website, reports a median base salary of AU$105,610 for actuaries in Sydney, with a range of $77,000 to $163,000. Total compensation including bonuses can reach $178,000. These figures are based on survey responses and reflect market rates, not legal requirements.

Jobs and Skills Australia provides national data for actuaries (ANZSCO 224111). The occupation is small – about 2,400 people nationally. The median age is 33, and 89% work full-time, averaging 43 hours per week. The ABS does not publish median weekly earnings specifically for actuaries at the six-digit level, but the broader group of actuaries, mathematicians and statisticians earns well above the all-occupations median.

How to compare a rate to the minimum

If you have an hourly rate or annual salary, you can check it against the national minimum. For a permanent full-time employee, divide the annual salary by 52 weeks, then by 38 hours. For example, a $106,000 annual salary equals about $53.64 per hour – more than double the minimum. Remember that superannuation of 12% is paid on top by the employer.

For casual employees, compare your hourly rate to the casual minimum of $33.05. If you are paid under an enterprise agreement, check that the base rate is at least the national minimum and that any penalty rates or allowances meet the agreement terms.

Superannuation is extra

Employers must pay the superannuation guarantee of 12% on ordinary time earnings. This is not part of the quoted salary. For an actuary earning $106,000, the employer contributes an additional $12,720 to super. The super guarantee rate is legislated and applies to most employees.

Where to get more help

• Which minimum wage applies – a guide to finding your correct pay floor.
• Rate tables – current national and award minimum rates.
• How the figures work – explanation of how we calculate and present data.

A note on sources

The national minimum wage figures come from the Fair Work Commission’s Annual Wage Review 2026. Survey averages are from PayScale and Jobs and Skills Australia. The ABS provides earnings benchmarks. This site does not give legal or tax advice. Always check your specific award or agreement with the Fair Work Ombudsman.

FAQs

What is the minimum wage for an actuary in Sydney?

There is no specific minimum wage for actuaries. Most actuaries are award-free or covered by an enterprise agreement. The legal floor is the national minimum wage set by the Fair Work Commission: $26.44 per hour or $1,004.90 per week for a full-time adult employee (38 hours). Casual employees receive a 25% loading, making the minimum $33.05 per hour. Junior, apprentice, or supported wage rates may be lower. An enterprise agreement or contract can set a higher rate.

How does the actuary salary in Sydney compare to the national average?

According to Jobs and Skills Australia, actuaries nationally have a median age of 33 and 89% work full-time, with average full-time hours of 43 per week. The ABS reports full-time adult ordinary-time earnings of $2,083.70 per week as of May 2026. PayScale survey data for Sydney shows a median base salary of about $106,000 per year (approximately $53.64 per hour), with a range from $77,000 to $163,000. This is well above the national minimum wage and the all-occupations average.

Do actuaries get superannuation on top of their salary?

Yes. Employers must pay the superannuation guarantee of 12% on top of ordinary time earnings. For an actuary earning $106,000 per year, the employer would contribute an additional $12,720 to super. This is not deducted from the quoted salary; it is paid separately. The super guarantee rate is legislated and applies to most employees.