Actuary salary Australia: understanding the pay floor and how it compares

Understanding the actuary salary Australia pay floor

When searching for an actuary salary Australia, the first question is which pay floor applies. The Fair Work Commission sets the national minimum wage, which from 1 July 2026 is $26.44 per hour or $1,004.90 per week for a 38-hour ordinary week. The Fair Work Ombudsman explains and enforces this rate. For award-free employees, this is the legal minimum. However, most actuaries are covered by a modern award or enterprise agreement that sets a higher rate. The Professional Employees Award 2020 may apply to some actuaries, but the Fair Work Commission's Modern Awards Pay Database does not list a specific actuary classification. Therefore, the minimum wage for an actuary is the national minimum unless a higher award or agreement applies.

The legal minimum versus survey averages

The legal minimum is not the same as a survey average or a negotiated salary. The ABS May 2026 survey of employee earnings shows average total earnings for all employees is $1,579.2 per week, and full-time adult ordinary-time earnings is $2,083.7 per week. The Jobs and Skills Australia occupation profile for actuaries reports median weekly earnings, but the figure is not publicly available from the provided sources. The profile notes that actuaries have a median age of 33, 89% work full-time, and the average full-time hours are 43 per week. The median weekly earnings for actuaries is not included in the search results, so we cannot provide a specific number. The national minimum is a floor, and actual actuary salaries are typically much higher.

How super fits in

When discussing an actuary salary Australia, superannuation is an employer payment on top of the salary. The super guarantee is 12% of ordinary time earnings, paid by the employer. The national minimum wage of $26.44 per hour does not include super. For example, a full-time actuary earning $2,000 per week would also receive $240 in super, making total remuneration $2,240 per week. The Fair Work Ombudsman's minimum wage pages do not include super. The ABS earnings figures are before tax and super.

Casual loading and age percentages

For casual actuaries, the national minimum wage includes a 25% casual loading, making the casual rate $33.05 per hour. For award-free junior employees, the national minimum is reduced by age percentages. For example, a 16-year-old award-free junior receives 47.3% of the adult rate, or $12.51 per hour. These rates apply only if no modern award or agreement covers the employee. Most actuaries are adults and covered by awards, so the full adult rate applies.

Which minimum wage applies

To determine which minimum wage applies to you, check if you are covered by a modern award or enterprise agreement. Use the Fair Work Ombudsman's Pay and Conditions Tool. If you are award-free and agreement-free, the national minimum applies. For more information, see Which minimum wage applies and Rate tables.

Conclusion

The actuary salary Australia pay floor is the national minimum wage of $26.44 per hour. Actual salaries are higher, but the median weekly earnings for actuaries is not publicly available from the provided sources. The Fair Work Commission sets the national minimum, and the Fair Work Ombudsman enforces it. Super is paid on top. Always check your award or agreement for higher rates.

For the published floors, see the rate tables and how the figures work.