Finance & Insurance

Add Comparison

Workforce

6.14M

2016 BLS Estimate

Average Employee Age

42.9

Estimated Job Growth

0.6%

10-Year Projection

Average Salary

$85,923

Average Male Salary

$117,741

Average Female Salary

$61,870

About

The top three occupations in the Finance & Insurance Industry Group are Financial managers, Insurance sales agents, Insurance claims & policy processing clerks, Tellers, and Personal financial advisors. On average, full-time employees in the Finance & Insurance Industry Sub-Sector work 43.4 hours per week and have an average annual salary of $89,979. Part-time employees in the same industry work 22.8 hours and earn an average annual salary of $34,089.

The locations with the highest concentration of employees in the Finance & Insurance Industry Sub-Sector are Murray Hill, Gramercy & Stuyvesant Town PUMA, NY, Upper East Side PUMA, NY, and Chelsea, Clinton & Midtown Business District PUMA, NY. The industry that purchases the most products or services from the Hospitals Industry Group is Finance & Insurance.

Workforce

A snapshot of jobs, wages, and opportunities in the Finance & Insurance Industry Sub-Sector. Financial managers are the most common position, but the Finance & Insurance Industry Sub-Sector employs a relatively high number of Tellers, compared to other industries. 

The highest average salary in Finance & Insurance goes to Architectural & engineering managers.

Occupations

Occupations by Share

6.14M

Workforce (BLS Estimate)

ACS Estimate: 7M

2.52%

1 Year Growth

± 1.26%

The Bureau of Labor Statistics estimates that there were 6.14M people employed in the Finance & Insurance Industry Sub-Sector in 2016.

According to ACS estimates, the number of people employed in the Finance & Insurance Industry Sub-Sector has been growing at a rate of 2.52%, , from 6.83M people in 2016 to 7M people in 2017.

The following graphic shows the share of employment in Finance & Insurance by various occupations according to ACS estimates. Financial managers represent the largest share of positions held in Finance & Insurance at 10.2%, followed by Insurance sales agents with 6.89% and Insurance claims & policy processing clerks with 4.67%.

View Data
Save Image
Add Data to Cart

Most Common

The most common occupations in the Finance & Insurance Industry Sub-Sector, by number of employees, are Financial managers, Insurance sales agents, Insurance claims & policy processing clerks, Tellers, and Personal financial advisors.

View Data
Save Image
Add Data to Cart
View Data
Save Image
Add Data to Cart

Most Specialized

Compared to other Industry Sub-Sectors, Finance & Insurance employs an unusually high number of Tellers, Insurance sales agents, and Securities, commodities, & financial services sales agents.

View Data
Save Image
Add Data to Cart
View Data
Save Image
Add Data to Cart
View Data
Save Image
Add Data to Cart
View Data
Save Image
Add Data to Cart

Wages

Average Salary

$85,923

AVERAGE WAGE

± $915

On average, employees in the Finance & Insurance Industry Sub-Sector make $85,923 per year. This number makes Finance & Insurance the 3 highest paying Industry Sub-Sector in the United States out of a total of 21 Industry Sub-Sectors.

View Data
Save Image
Add Data to Cart

Wage by Location

HIGHEST PAYING PUBLIC USE MICRODATA AREA

This map shows which public use microdata areas (PUMAs) pay the highest average salary to employees in the Finance & Insurance Industry Sub-Sector.

View Data
Save Image
Add Data to Cart

Wage Distribution

0.466

WAGE GINI

Finance & Insurance has a wage GINI of 0.466, which is less than than the national average of 0.479. In other words, wages are distributed more evenly in Finance & Insurance (shown in red) in comparison to the national average for those wage buckets (shown in gray).

View Data
Save Image
Add Data to Cart

Opportunities

Spatial Concentration

This map shows the PUMAs in the United States that have revealed comparative advantage in the Finance & Insurance Industry Sub-Sector.

These are locations that employ more people in the Finance & Insurance Industry Sub-Sector than expected given both the size of that location's overall labor pool and the national size of the Finance & Insurance Industry Sub-Sector.

View Data
Save Image
Add Data to Cart

Diversity

Demographic information on the Finance & Insurance Industry Sub-Sector in the US. Male employees tend to earn more than Female employees, with average respective salaries of $117,741 and $61,870. So too tend to earn more than other races and ethnicities in this industry.

Gender Composition

3.99M

FEMALE WORKFORCE

±48.3k

3.01M

MALE WORKFORCE

±42.2k

56.9% of workers in the Finance & Insurance Industry Sub-Sector are Female, making them the more common gender in the workforce. This chart shows the gender breakdown of the Finance & Insurance Industry Sub-Sector.

View Data
Save Image
Add Data to Cart

Wage by Gender in Common Jobs

$117,741

AVERAGE MALE SALARY

±$1,762

$61,870

AVERAGE FEMALE SALARY

±$776

On average, Male workers in the Finance & Insurance Industry Sub-Sector make 1.9 times more than their Female counterparts. This chart shows the gender-based wage disparity in the 5 most common occupations in the Finance & Insurance Industry Sub-Sector.

View Data
Save Image
Add Data to Cart

Wage by Race & Ethnicity in Common Jobs

RACE OR ETHNICITY WITH THE HIGHEST AVERAGE SALARY

  1. Asian

  2. White

  3. Alaska Native

On average, Asian employees in the Finance & Insurance Industry Sub-Sector earn 1.17 times more than other races and ethnicities. This chart shows the race and ethnicity-based wage disparities in the 5 most common occupations in the Finance & Insurance Industry Sub-Sector.

View Data
Save Image
Add Data to Cart

Input/Output

Estimates of the sources of the costs and the purchasers of the products in the Finance & Insurance Industry Sub-Sector. Based on estimates from the Bureau of Economic Analysis, this section indicates the amount of money spent by a specific industry in other industries. Finance, insurance, real estate, rental, and leasing has the highest single input, by dollars, to the Finance & Insurance Industry Sub-Sector, and the largest industry purchasing services from the Finance & Insurance Industry Sub-Sector is Finance, insurance, real estate, rental, and leasing.

In this visualization, click on a category to expand or collapse it. All of the industries listed to the left are those places from which the highlighted industry has made purchases. They are the intermediate inputs to the highlighted industry. All those industries listed on the right side are those industries that have made purchases from the highlighted industry. They are the use of outputs of the highlighted industry. The visualizations below offer alternative ways to see and understand this data.

Industrial Flow

The closest comparable data for Finance & Insurance is from Finance & Insurance, and Real Estate, Rental & Leasing.

View Data
Save Image

Intermediate Inputs

The Finance & Insurance Industry Sub-Sector gets the most input, by its share of the cost of all intermediate inputs, from the Finance, insurance, real estate, rental, and leasing Industry. This visualization does not include labor and capital costs.

View Data
Save Image
Add Data to Cart

Use of Output by Other Industries

The Finance, insurance, real estate, rental, and leasing Industry purchases the greatest share of products and services from the Finance & Insurance Industry Sub-Sector in order to produce other goods and services. Purchases of the Finance & Insurance Industry Sub-Sector for final consumption by consumers, businesses, or government are not included here.

View Data
Save Image
Add Data to Cart

Projections

Growth projections of the Finance & Insurance Industry Sub-Sector, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 8.13% in the next ten years. The Finance & Insurance Industry Sub-Sector has a lower projected workforce growth at 0.6%. Its projected 10-year growth in output (2.4%) is lower than the projected national growth in output (24.6%).

Job Growth

0.6%

ESTIMATED GROWTH

8.13%

NATIONAL AVERAGE

This line chart shows the projected 10-year growth in the number of jobs for the Finance & Insurance Industry Sub-Sector, which is lower than the national average of 8.13%.

View Data
Save Image
Add Data to Cart

Output Growth

2.4%

ESTIMATED GROWTH

24.6%

NATIONAL AVERAGE

This line chart shows the projected 10-year growth in output of the Finance & Insurance Industry Sub-Sector, which is lower than the national average of 24.6%

View Data
Save Image
Add Data to Cart