Financial and Insurance Services

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This image shows 13% of jobs are regional. 5% of workers are aged 15 to 24 years. 11% of workers are self-employed.
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 57% of workers hold a bachelor degree or higher. 20% of workers hold a certificate 3 or higher qualification. 4% of workers hold an other qualification. 19% 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 around 40% of the workforce located in New South Wales.

Top employing occupations This industry All industries
Bank Workers 42,700 44,800
Financial Investment Advisers and Managers 42,000 52,100
Financial Brokers 31,300 32,800
Insurance, Money Market and Statistical Clerks 28,600 30,700
Credit and Loans Officers 28,200 31,000
Accountants 20,100 198,100
Software and Applications Programmers 16,900 150,700
Advertising, Public Relations and Sales Managers 15,500 156,500
Financial Dealers 14,600 17,800
Insurance Agents 14,000 15,800
Finance Managers 13,700 68,700
General Clerks 12,600 311,200
Other Hospitality, Retail and Service Managers 12,600 76,800
Management and Organisation Analysts 12,500 101,500
Auditors, Company Secretaries and Corporate Treasurers 10,600 32,800
Information Officers 9,300 88,300
ICT Managers 7,600 84,400
Other Information and Organisation Professionals 7,200 49,000
Contract, Program and Project Administrators 7,200 123,000
Call or Contact Centre Workers 7,200 33,600

This workforce is highly qualified, with 77% holding post-school qualifications (compared with 65% 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 5%). 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.