Actuaries are financial risk specialists who use mathematics, statistics, and financial theory to study uncertain future events — especially in insurance, pensions, and investments. Actuarial Science is South Africa's highest-paid profession at entry level. The BSc Actuarial Science degree (3–4 years) is offered at only a handful of universities. Graduates must pass a series of professional exams with the Actuarial Society of South Africa (ASSA).
Actuaries build financial models, price insurance products, calculate pension obligations, advise on investment strategies, and write technical reports for regulatory authorities. Work is highly analytical and computer-intensive.
Mathematics (Level 7 — 80%+), English (Level 5+), Physical Sciences or Accounting recommended
Use the free Career Helper APS Calculator to calculate your exact score for each SA university.
- University of Cape Town (UCT)
- University of the Witwatersrand (Wits)
- University of Pretoria (UP)
- Stellenbosch University (SU)
Programme names and requirements vary by institution. Always verify directly with the university before applying.
Achieve APS 38+ with Mathematics at Level 7 (80%+). Actuarial Science is offered at UCT, Wits, UP, and Stellenbosch — all highly selective. A strong foundation in advanced maths is essential.
Complete the 3–4 year BSc Actuarial Science degree while starting to write ASSA/IFoA professional exams. Passing CT1–CT8 subjects during university dramatically accelerates your career.
Graduate and join an insurance company, bank, consultancy, or government actuarial department. Continue writing professional exams to qualify as a Fellow of the Actuarial Society (FASSA).
What APS do I need for Actuarial Science in South Africa?
How long does it take to become a qualified actuary?
What is the starting salary for an actuary in South Africa?
Salary ranges are indicative for South Africa 2026 based on market data. Actual salaries vary by employer, location, and experience.