Financial and Insurance Services

This image shows 14% of jobs are regional. 6% of workers are aged 15 to 24 years. 12% of workers are self-employed.

53% of workers hold a bachelor degree or higher. 24% of workers hold a certificate 3 or higher qualification. 3% of workers hold an other qualification. 20% of workers do not hold a post-school qualification.

Annual Employment Growth (%)

Employment in the Financial and Insurance Services industry includes banking, insurance and superannuation funds, as well as financial brokering services. Employment is concentrated primarily in capital cities, particularly along Australia’s east coast, with nearly half the workforce located in New South Wales.

Top Employing Occupations

Occupation
Bank Workers
Financial Investment Advisers and Managers
Financial Brokers
Insurance, Money Market and Statistical Clerks
Credit and Loans Officers
Software and Applications Programmers
Accountants
Advertising, Public Relations and Sales Managers
General Clerks
Finance Managers
Financial Dealers
Insurance Agents
Other Hospitality, Retail and Service Managers
Auditors, Company Secretaries and Corporate Treasurers
Management and Organisation Analysts
Database and Systems Administrators, and ICT Security Specialists
Information Officers
Accounting Clerks
ICT Business and Systems Analysts
ICT Managers

This workforce is highly qualified, with 80% holding post-school qualifications (compared with 68% across all industries). Almost all jobs are for Professionals, Clerical and Administrative Workers and Managers.

Reflecting the time it takes to attain the required qualifications, a small share of this workforce is aged 15 to 24 years old (just 6%). That said, Bank Workers is the largest employing occupation within Financial and Insurance Services and this role generally does not require post-school qualifications and can provide a pathway into the industry.

Sources: ABS, Labour Force (seasonally adjusted and annual averages of original data); ABS, Characteristics of Employment; ABS, Education and Work.