Actuarial Scientist Salary in South Africa (2026)
Actuaries are among the highest-paid professionals in South Africa. The career path is long — typically 8–10 years of exams — but the earnings at full fellowship are exceptional.
255% above the SA employed workforce median of R 22 000/month
entryR28k
25thR78k
medianR145k
75thR250k
senior
Entry-level
R 28 000
Student/graduate actuary
Mid-level
R 78 000
Nearly/newly qualified (FASSA)
Senior
R 145 000
Fellow 5+ years post-FASSA
Salary by experience
R 28 000
median/mo
Entry-level
Student/graduate actuary
R 78 000
median/mo
Mid-level
Nearly/newly qualified (FASSA)
R 145 000
median/mo
Senior
Fellow 5+ years post-FASSA
Bar height = salary range · white notch = median · gross monthly before tax
Calculate your take-home pay
See exactly what R 78 000/month looks like after PAYE, UIF, and medical aid.
What affects Actuarial Scientist salary?
Career outlook 2026
Actuaries are in extremely short supply in South Africa, and demand from both traditional insurance and new fields (fintech, data science) is accelerating.
How to qualify as a Actuarial Scientist
Entry requirements, study paths, professional registration, and bursaries.
Minimum entry requirement
NSC (Matric) with exceptional Mathematics results
Qualification paths
BSc Actuarial Science
Offered at UCT, Wits, UP, SU, UKZN, and others. Exempts from early ASSA exams
BSc Statistics / Mathematics (with actuarial pathway)
ASSA Professional Examinations (CT, CA, ST, SA series)
15 exam papers required for full FASSA fellowship — employers typically fund these
Actuarial Society of South Africa
Fellow of ASSA (FASSA) required for the title of 'Actuary'. Full fellowship requires passing all 15 ASSA examination papers — a process that typically takes 8–12 years post-graduation.
Time to qualify
4 years (degree) + 8–12 years (ASSA exams) = 12–16 years to full fellowship
Study costs
R40,000–R80,000/year for the degree; ASSA exam fees are R2,000–R5,000 per paper (usually employer-funded)
Bursaries available
Old Mutual, Sanlam, Discovery, Liberty, and Momentum all run actuarial bursary programmes — competition is intense. Apply in your matric year
Frequently asked questions
How much does an actuarial scientist earn in South Africa?
Earnings depend heavily on exam progress. Student actuaries earn R22,000–R35,000/month. Newly qualified Fellows (FASSA) can earn R80,000–R120,000/month. Senior Fellows in consulting or C-suite roles earn R120,000–R250,000+/month.
Is actuarial science worth studying in South Africa?
Yes — it's one of the highest-earning careers in SA, with strong demand and job security. The exams are challenging and the path is long, but the financial reward is among the best of any profession.
Data source: Actuarial Society of South Africa (ASSA); CareerJunction; Glassdoor ZA · Last updated: April 2026
Salary figures are gross monthly estimates. Individual pay varies by employer, province, experience, and negotiation.
On this page
Quick facts
- Median salary
- R 78 000/mo
- Annual (est.)
- R 936 000/yr
- Min. APS
- 36 points
- Time to qualify
- 4 years (degree) + 8–12 years (ASSA exams) = 12–16 years to full fellowship
- vs SA median
- +255%