ANZSCO 2221

Financial Brokers

Overview

EMPLOYED

42,700

PART-TIME SHARE

13%

FEMALE SHARE

33%

MEDIAN WEEKLY EARNINGS

$1,635

MEDIAN AGE

41

ANNUAL EMPLOYMENT GROWTH

900

About this data

Summary

Financial Brokers operate as independent agents to facilitate the trading of commodities and arrange insurance and loans of money on behalf of clients.

Tasks

  • Monitoring commodity prices, trends and other factors affecting the supply and demand for commodities
  • Negotiating the purchase and sale of commodities such as grains, wool, minerals and metals
  • Determining the specific financial and insurance requirements of clients, and researching and reviewing available finance and insurance products for suitability to meet clients' requirements
  • Analysing clients' financial status, discussing financial options and developing financial strategies
  • Recommending loan combinations that meet clients' needs
  • Interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover
  • Arranging insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies
  • Preparing documents which set out the conditions of finance, repayments and loan periods
  • Identifying and advising on significant risk changes to clients' insurance
  • Broking complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers

ANZSCO Classification

Details

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    Earnings and Hours

    Weekly Earnings (Before Tax)
    Source: Share of workers who work full-time hours: ABS, Labour Force Survey, 2023, four-quarter average, customised report.
    Average full-time hours worked per week: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Median full-time earnings per week and Median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2023, customised report. Note: median earnings data have not been produced for some occupations where there is a high standard error, and are published with "N/A" values.
    Earnings and Hours Financial Brokers All Occupations
    Share of workers who work full-time hours 87% 70%
    Average full-time hours worked per week 45 hours 44 hours
    Median full-time earnings per week $1,635 $1,697
    Median hourly earnings $43 $43

    Industries

    Financial Brokers work in industries like:

    Source: Ranked using ABS, Labour Force Survey, 2023, four-quarter average data, custom report.
    Note: industries that comprise less than 5% of an occupation have been suppressed.

    States and territories

    New South Wales

    33.7%

    Victoria

    28.8%

    Queensland

    20.2%

    South Australia

    4.5%

    Tasmania

    1.2%

    Northern Territory

    0.6%

    Australian Capital Territory

    0.9%

    Source: ABS Labour Force Survey, Detailed, August 2024, Jobs and Skills Australia trend data.

    Age and gender

    Age and Gender Profile
    Source: ABS, Labour Force Survey, 2023, four-quarter average, customised report.
    Age and Gender Financial Brokers All Occupations
    Median age 41 years 39 years
    Female share of employment 33% 48%
    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Age Profile (% Share) All Occupations Financial Brokers
    15–19 5.2 0.2
    20–24 9.1 3.9
    25–34 22.7 20.6
    35–44 22.3 28.3
    45–54 20.4 25.0
    55–59 8.8 9.4
    60–64 6.5 6.4
    65 and Over 4.9 6.1

    Education

    Source: ABS, 2021 Census of Population and Housing based on place of usual residence.
    Highest Level of Educational Attainment (% Share) All Occupations Financial Brokers
    Post Graduate/Graduate Diploma or Graduate Certificate 12.2 11.4
    Bachelor degree 23.2 27.3
    Advanced Diploma/Diploma 11.1 33.6
    Certificate III/IV 19.5 8.6
    Year 12 15.9 10.4
    Year 11 4.0 1.5
    Year 10 and below 9.7 2.0
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      Occupation profiles data

      This file contains data displayed on the Occupation Profile pages.

      Use of data in this file must include the relevant attribution text provided.

      Occupation profiles data - August 2024.xlsx

      occupation_profiles_data_-_august_2024.xlsx9088333

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      Australian and New Zealand Standard Classification of Occupations

      Australian and New Zealand Standard Classification of Occupations (ANZSCO) is the skill-based classification system used to categorise occupations in the Australian and New Zealand labour markets. ANZSCO provides a basis for the standardised collection, analysis and dissemination of occupation data. Visit the ABS website to learn how ANZSCO works. Jobs and Skills Australia displays data for occupations that are defined by ANZSCO 2013 Version 1.3.