Finance & Insurance, and Real Estate, Rental & Leasing

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Workforce

6.14M

2016 BLS Estimate

Average Employee Age

43.6

Estimated Job Growth

0.6%

10-Year Projection

Average Salary

$78,544

Average Male Salary

$101,535

Average Female Salary

$58,981

About

Workforce

Diversity

Input/Output

Projections

About

The top three occupations in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Group are Financial managers, Real estate brokers & sales agents, Property, real estate, & community association managers, Insurance sales agents, and Firstline supervisors of nonretail sales workers. On average, full-time employees in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector work 43.5 hours per week and have an average annual salary of $84,177. Part-time employees in the same industry work 22.4 hours and earn an average annual salary of $30,415.

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

Photo by Ken Teegardin

Workforce

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

The highest average salary in Finance & Insurance, and Real Estate, Rental & Leasing goes to Petroleum, mining & geological engineers, including mining safety engineers.

Occupations

Occupations by Share

6.14M

Workforce (BLS Estimate)

ACS Estimate: 9.66M

2.02%

1 Year Growth

± 1.06%

The Bureau of Labor Statistics estimates that there were 6.14M people employed in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector in 2016.

According to ACS estimates, the number of people employed in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector has been growing at a rate of 2.02%, , from 9.47M people in 2016 to 9.66M people in 2017.

The following graphic shows the share of employment in Finance & Insurance, and Real Estate, Rental & Leasing by various occupations according to ACS estimates. Financial managers represent the largest share of positions held in Finance & Insurance, and Real Estate, Rental & Leasing at 7.57%, followed by Real estate brokers & sales agents with 6.42% and Property, real estate, & community association managers with 5.2%.

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Most Common

The most common occupations in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector, by number of employees, are Financial managers, Real estate brokers & sales agents, Property, real estate, & community association managers, Insurance sales agents, and Firstline supervisors of nonretail sales workers.

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Most Specialized

Compared to other Industry Sectors, Finance & Insurance, and Real Estate, Rental & Leasing employs an unusually high number of Tellers, Real estate brokers & sales agents, and Insurance sales agents.

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Highest Paid

The highest paid occupations in Finance & Insurance, and Real Estate, Rental & Leasing, by average wage, are Petroleum, mining & geological engineers, including mining safety engineers, Other Physical Scientists, and Economists.

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Wages

Average Salary

$78,544

AVERAGE WAGE

± $737

On average, employees in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector make $78,544 per year. This number makes Finance & Insurance, and Real Estate, Rental & Leasing the 3 highest paying Industry Sector in the United States out of a total of 14 Industry Sectors.

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Wage by Location

HIGHEST PAYING PUBLIC USE MICRODATA AREA

HIGHEST PAYING PUMAS

  1. Battery Park City, Greenwich Village & Soho PUMA, NY

  2. Westchester County (Southeast) PUMA, NY

  3. Battery Park City, Greenwich Village & Soho PUMA, NY

This map shows which public use microdata areas (PUMAs) pay the highest average salary to employees in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

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Wage Distribution

0.479

WAGE GINI

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

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Opportunities

Spatial Concentration

Public Use Microdata Areas with RCA

  1. Chelsea, Clinton & Midtown Business District PUMA, NY

  2. Murray Hill, Gramercy & Stuyvesant Town PUMA, NY

  3. Upper East Side PUMA, NY

This map shows the PUMAs in the United States that have revealed comparative advantage in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

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

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Diversity

Demographic information on the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector in the US. Male employees tend to earn more than Female employees, with average respective salaries of $101,535 and $58,981. So too tend to earn more than other races and ethnicities in this industry.

Gender Composition

5.22M

FEMALE WORKFORCE

±55.1k

4.44M

MALE WORKFORCE

±51k

54% of workers in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector are Female, making them the more common gender in the workforce. This chart shows the gender breakdown of the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

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Wage by Gender in Common Jobs

$101,535

AVERAGE MALE SALARY

±$1,349

$58,981

AVERAGE FEMALE SALARY

±$667

On average, Male workers in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector make 1.72 times more than their Female counterparts. This chart shows the gender-based wage disparity in the 5 most common occupations in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

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Wage by Race & Ethnicity in Common Jobs

RACE OR ETHNICITY WITH THE HIGHEST AVERAGE SALARY

  1. Asian

  2. White

  3. Two or More Races

On average, Asian employees in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector earn 1.2 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, and Real Estate, Rental & Leasing Industry Sector.

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Input/Output

Estimates of the sources of the costs and the purchasers of the products in the Finance & Insurance, and Real Estate, Rental & Leasing Industry 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, and Real Estate, Rental & Leasing Industry Sector, and the largest industry purchasing services from the Finance & Insurance, and Real Estate, Rental & Leasing Industry 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

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Intermediate Inputs

HIGHEST INPUT INDUSTRY

  1. Finance, insurance, real estate, rental, and leasing

  2. Professional and business services

  3. Information

The Finance & Insurance, and Real Estate, Rental & Leasing Industry 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.

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Use of Output by Other Industries

LARGEST PURCHASING INDUSTRY

  1. Finance, insurance, real estate, rental, and leasing

  2. Educational services, health care, and social assistance

  3. Professional and business services

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

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Projections

Growth projections of the Finance & Insurance, and Real Estate, Rental & Leasing Industry 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, and Real Estate, Rental & Leasing Industry 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

This line chart shows the projected 10-year growth in the number of jobs for the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

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Output Growth

2.4%

ESTIMATED GROWTH

This line chart shows the projected 10-year growth in output of the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

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