Discover industries – Financial and Insurance Services

Many employees in this small industry are located in NSW. Nearly half of the workers have a university degree and a third have a vocational qualification.

A financial advisor shows a couple some graphs on a laptop screen

About Financial and Insurance Services 

Businesses in this industry are mainly based in Sydney and Melbourne. They are involved in activities like:

  • banking and other financial services
  • life, health and other insurance cover
  • superannuation funds
  • other auxiliary finance and insurance services.

Most workers in this industry have some form of post-school qualification, however there are also a significant number who do not.

Most people in this industry work full-time. 

Source: Labour Market Insights, Jan 2024

Workforce share in Australia

Percentage of workers who have their main job in this industry. 

3.9 %
Employed in Australia

The number of people this industry employs in Australia. 

Industry growth in Australia

This is the projected amount this industry will grow by in Australia over the next 5 years. 

6.5 %

Source: Jobs and Skills Australia (JSA), Employment Projections, May 2023.

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Current and future employment in Australia

See how Australia's Financial and Insurance Services industry is projected to grow by 13.8% over a 10-year period compared to an average Australian industry growth rate of 14.2%.

Largest employing occupations

This table shows the top-10 occupations in Financial and Insurance Services by employment numbers. 

Financial Investment Advisers and Managers
Bank Worker
Financial Brokers
Insurance, Money Market and Statistical Clerks
Credit or Loans Officer
Software and Applications Programmers
Financial Dealers
Advertising, Public Relations and Sales Managers
Other Hospitality, Retail and Service Managers

Source: ABS Labour Force Survey, 2021

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