Financial and Insurance Services

EMPLOYED

548,700

PART-TIME SHARE

13%

WORKFORCE SHARE

3.8%

FEMALE SHARE

50%

MEDIAN WEEKLY EARNINGS

$1,900

MEDIAN AGE

40

Around 3.8% of workers have their main job in the Financial and Insurance Services industry.

Businesses in this industry are mainly involved in activities like:

  • Banking and other financial services
  • Life, health and other insurance cover
  • Superannuation funds
  • Other auxiliary finance and insurance services

A large share of the workforce work in cities.

Median earnings are $1,900 per week, higher than all industries median earnings of $1,700.

On this page

    Employment

    Employment in the Financial and Insurance Services industry grew over the 20 years to February 2025.
    The number of workers grew by 5,000 (or 0.9%) over the last year.

    Source: ABS, Labour Force Survey, Detailed, February 2025, Jobs and Skills Australia (JSA) trend data.
    Note: Over the COVID-19 pandemic period (highlighted section in the chart above), some industries have censored values, resulting in a broken series for impacted industries. This is due to large quarterly fluctuations in employment resulting in trend data being unreliable for these quarters. Where data are available over the COVID-19 pandemic period, JSA recommends caution when using these trend estimates.
    Quarterly employment, Financial and Insurance Services Employment
    361100
    365900
    370100
    374000
    378700
    384400
    390700
    397400
    402600
    405500
    406700
    407300
    407200
    406600
    405300
    403200
    401200
    399900
    399700
    400100
    399700
    398300
    398500
    401600
    407800
    415000
    420500
    423700
    425000
    425000
    423600
    422000
    420800
    420000
    418300
    415200
    412100
    409800
    408600
    408900
    410800
    415000
    422000
    428900
    432800
    435000
    435700
    435500
    435400
    433900
    432100
    432200
    434600
    438000
    440400
    441300
    442300
    444400
    448800
    455200
    462000
    468000
    472500
    476700
    482800
    492900
    506400
    520400
    533400
    542900
    548300
    551500
    552400
    552700
    551700
    548600
    543700
    540300
    540900
    544500
    548700

    Sectors

    Depository Financial Intermediation is the largest sector in the Financial and Insurance Services industry, employing 194,700 workers.

    Source: ABS, Labour Force Survey, Detailed, February 2025, Jobs and Skills Australia (JSA) trend data.
    Note: the sum of sectoral employment may not equal the industry total as data are trended separately, and not further defined (nfd) classifications have been excluded.
    Employment by industry sectors Employment
    Depository Financial Intermediation 194700
    Auxiliary Finance and Investment Services 170400
    Health and General Insurance 104600
    Auxiliary Insurance Services 24600
    Superannuation Funds 19200
    Financial Asset Investing 13200
    Life Insurance 7600
    Non-Depository Financing 2500
    Central Banking 1300

    Occupations

    Financial Investment Advisers and Managers is the largest employing occupation in the Financial and Insurance Services industry.

    The 10 largest employing occupations are shown below.

    Some occupations are common across a number of industries.

    Largest employing occupations

    Industry data

    This file contains data for all 19 industries to make comparing industry data easy. Information available includes:

    • industry overview
    • industry employment (20-year time series)
    • industry sector employment
    • top employing occupations by industry.

     

    Industry data - February 2025.xlsx

    industry_data_-_february_2025.xlsx118382

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