Queensland's first cohort of Actuarial Science students graduated from Bond University this week and are now embarking on what has been dubbed one of the fastest growing careers in the world.
According to the Australian Government Job Outlook, actuarial science is set to see a 25 per cent increase in job opportunities in the next five years.
Amongst the group of students who graduated - three postgraduates and eight undergraduates - some landed jobs before they completed their degree while others reported job offers 10 minutes after sitting an interview.
Bond's Head of Actuarial Science Professor Terry O'Neill, said the demand from organisations for Actuarial Science graduates had grown in recent years, with Bond now able to provide local talent.
"Businesses and governments are realising the benefits of collating and analysing the enormous pools of data available to us, thanks to the digital age," he said.
"Bond was quick to recognise the demand for actuarial scientists and is the first, and only, university in Queensland to fill the gap in the market by offering tertiary qualifications in the industry.
"In the past, Queensland businesses have had to hire and train graduates from interstate, but the introduction of Actuarial Sciences at Bond University enables companies to find local graduates, aiding in employee retention.
"It also opens doors for more Queenslanders to establish a career in this rapidly expanding industry, and for talented students to transition into graduate roles through Bond's extensive network of business partnerships.
"We are extremely proud to have produced the first cohort of actuarial scientists in Queensland and look forward to continuing to offer our students degrees for the future."
Actuarial Sciences graduate Lachlan Farr landed a job 12 months before finishing his degree and will relocate to Sydney this week to work in the banking and markets division of the Commonwealth Bank.
Lachlan, who also has a degree in Commerce from Bond University, said his role with the bank was a 'dream job'.
"Studying a post graduate in Actuarial Sciences has put me ahead of the field in terms of job opportunities and landed me the exact position I was looking for," he said.
"It's an honour to have been offered a role at one of the big four banks, and the fact that I had a job lined up a year before graduating relieved some of the pressures and enabled me to really focus on my studies.
"It's a unique time to be in this profession and it's been an exciting experience to be a part of the first cohort of students to graduate with an Actuarial Science degree in Queensland.
"I'm looking forward to my move to Sydney as there are a lot of Bond graduates living there, so it will be a great support system for me while I transition into my next adventure."
Hand-picked from the graduating class of 2016 by RACQ, Lucy Ward begins her career in the organisation's analytics team this week.
Lucy said she was thrilled to find a new degree with excellent job prospects that combined her love of maths and finance.
"Initially I had planned to study engineering but when Bond introduced actuarial sciences I jumped at the opportunity to be among the first Queenslanders to hold a qualification in this exciting field," she said.
"When an RACQ representative came to Bond to do a presentation about their role within the business as well as recent projects that they had undertaken, I realised how suited I was to such a role.
"When I was put forward to apply for the job prior to my graduation, I jumped at the chance and can't believe I am now set to graduate and start my dream job all within the space of a couple of days.
"I've absolutely loved studying at Bond and am grateful for all of the support I've been given throughout my time there.
"I'm really excited to begin the next chapter of my life and am looking forward to putting my skills to use in a real work situation and see the impact it has on the world."
RACQ General Manager Analytics and Business Solutions, Michael French, said the implementation of the degree has been a benefit for the large organisation as the company previously had to source actuarial graduates from southern states.
”We invest in the training of our graduates to help them be the best they can be,” Mr French said.
“From an employee retention perspective it makes sense to look locally first and we also love to support Queensland based businesses and institutions like Bond.”
The graduating class included honours student Mark Johnman. As a result of his graduation, Bond’s Actuarial Science programs are now fully accredited by the Actuaries Institute of Australia. Bond is the only university in Queensland to offer these accredited programs.