Top 5 Financial and Insurance Services Occupations
|Top 5 Occupations||This Industry||All Industries|
|Financial Investment Advisers and Managers||38,500||51,800|
|Insurance, Money Market and Statistical Clerks||23,800||29,900|
|Credit and Loan Officers||22,300||31,100|
Financial and Insurance Services employs 440,200 Australians, or 4% of the workforce.
Employment growth was strong over the five years to November 2015 (up by 12.6% or 49,400). Slightly weaker, albeit around average, employment growth is expected over the five years to November 2020 (up by 8.5% or 37,400).
New South Wales has 42% of this industry’s jobs. Just 14% of employment is in regional Australia, the lowest of any industry.
Workers in Financial and Insurance Services are highly qualified, with the university sector playing an important role in the provision of skills. Half the workers hold a bachelor degree or higher qualification and an additional 21% have a certificate III or higher vocational education and training (VET) qualification.
Consistent with the need for post-school qualifications for the vast majority of jobs in this industry, relatively few workers are young (7% are aged between 15 and 24 years, compared with the national average of 16%).
Women have a large share of employment (51% compared with the all industries average of 46%).
Educational attainment, Financial and Insurance Services (% of industry total)
Age profile, Financial and Insurance Services (% of industry total)
Employment projections by region, Financial and Insurance Services, five years to November 2020 (% change)
For more information see lmip.gov.au
Sources: ABS, Labour Force (trend and annual averages of original data); ABS, Education and Work; Department of Employment, Industry Employment Projections