Savings institutions, including credit unions

Industry Group

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Workforce Population

405k

2023

Average Employee Age

41.7

2023

Estimated Job Growth

3.38%

10-Year Projection

Average Salary

$73,402

2023

Average Male Salary

$99,601

2023

Average Female Salary

$61,363

2023

About

The top three occupations in the Savings institutions, including credit unions Industry Group are financial managers, tellers, and credit counselors & loan officers. On average, full-time employees in the Savings institutions, including credit unions Industry Group work 41.8 hours per week and have an average annual salary of $76,838. Part-time employees in the same industry work 23.6 hours and earn an average annual salary of $31,373.

The locations with the highest concentration of employees in the Savings institutions, including credit unions Industry Group are N/A.

The workforce of Savings institutions, including credit unions Industry Group in 2023 was 404,684 people, with 68.5% woman, and 31.5% men.

In 2023, 70.5% of the workforce in the Savings institutions, including credit unions Industry Group was White (285,303 people), of which 68.7% were women and 31.3% men.

Photo by Ken Teegardin

Finance & Insurance Finance & Insurance, and Real Estate, Rental & Leasing

Employment & Salaries

A snapshot of workforce, wages, and opportunities in the Savings institutions, including credit unions Industry Group.

The workforce in Savings institutions, including credit unions Industry Group was 404,684 people and is concentrated in California (33,441 workers). The average annual salary was $73,402, being $5,675 more than the national average salary, which was $67,727.

Monthly Employment

Showing data for the Financial Activities industry sector.

Start Year

Y-Axis

1.64%

Year-over-year growth

Employment change between February 2022 and February 2023

As of February 2023, there are 9.01M people employed in the Financial Activities industry. This represents a 1.64% increase in employment when compared to February 2022.

This chart shows monthly employment numbers for Financial Activities over time (non-seasonally adjusted).

Employment by Location

The states that concentrated the largest workforce in 2023 were California (33.4k), Texas (30.1k), and Florida (30.1k).

This map shows the states in the United States shaded by workforce for Savings institutions, including credit unions Industry Group.

Yearly Wage Ranking

In 2023, Savings institutions, including credit unions Industry Group had an average annual wage of $73,402, $5,675 more than the average national salary of $67,727.

The graph shows the position of Savings institutions, including credit unions Industry Group in the ranking of industries by average annual wage.

Wage Distribution

0.391

WAGE GINI

Savings institutions, including credit unions has a wage GINI of 0.391, which is less than than the national average of 0.476. In other words, wages are distributed more evenly in Savings institutions, including credit unions (shown in red) in comparison to the national average for those wage buckets (shown in gray).

The graphic shows the distribution of average salaries by buckets for Savings institutions, including credit unions Industry Group workers compared to the entire workforce in the country.

Occupations

A review of jobs and wages in the Savings institutions, including credit unions Industry Group.

Financial managers are the most common position with 72,337 workers, but the Savings institutions, including credit unions Industry Group employs a relatively high number of Tellers and Credit counselors & loan officers.

The highest average salary in Savings institutions, including credit unions goes to Economists.

Occupations Distribution

The graph shows the distribution of employees in the Savings institutions, including credit unions Industry Group according to occupations. In 2023, the occupations that concentrated the largest number of employees in this industry were financial managers (72,337 people), tellers (55,815 people), and credit counselors & loan officers (41,726 people)

Wage by Sex in Common Jobs

$99,601

AVERAGE MALE SALARY

±$6,650

$61,363

AVERAGE FEMALE SALARY

±$2,481

On average, Male workers in the Savings institutions, including credit unions Industry Group make 1.62 times more than their Female counterparts. This chart shows the sex-based wage disparity in the 5 most common occupations in the Savings institutions, including credit unions Industry Group.

Business

Estimates of the sources of the costs and the purchasers of the products in the Savings institutions, including credit unions Industry Group. Based on estimates from the Bureau of Economic Analysis, this section indicates the amount of money spent by a specific industry in other industries.

The industrial flow illustrates the intermediate inputs and the use of outputs of the Savings institutions, including credit unions Industry Group.

The Savings institutions, including credit unions Industry Group gets the most input, by its share of the cost of all intermediate inputs, from the Finance, insurance, real estate, rental, and leasing Industry.

California and Texas stand out as the states with the largest number of establishments in the Savings institutions, including credit unions Industry Group.

Industrial Flow

The closest comparable data for Savings institutions, including credit unions is from Finance & Insurance, and Real Estate, Rental & Leasing.

Finance, insurance, real estate, rental, and leasing has the highest single input, by dollars, to the Savings institutions, including credit unions Industry Group, and the largest industry purchasing services from the Savings institutions, including credit unions Industry Group is Finance, insurance, real estate, rental, and leasing.

In this flow diagram, 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.

Intermediate Inputs

The closest comparable data for Savings institutions, including credit unions is from Finance & Insurance, and Real Estate, Rental & Leasing.

HIGHEST INPUT INDUSTRY

Finance, insurance, real estate, rental, and leasing
Professional and business services
Information

Use of Output by Other Industries

The closest comparable data for Savings institutions, including credit unions is from Finance & Insurance, and Real Estate, Rental & Leasing.

LARGEST PURCHASING INDUSTRY

The Finance, insurance, real estate, rental, and leasing Industry purchases the greatest share of products and services from the Savings institutions, including credit unions Industry Group in order to produce other goods and services. Purchases of the Savings institutions, including credit unions Industry Group for final consumption by consumers, businesses, or government are not included here.

Establishments

States with more establishments in 2022

California
60,055
Texas
50,881
Florida
42,508

The charts shows the distribution of establishments in the Savings institutions, including credit unions industry by states and the number of establishments according to size.

Diversity

Demographic information on the Savings institutions, including credit unions Industry Group in the US.

Of the total workforce, 68.5% corresponds to women and 31.5% men. Male employees tend to earn more than Female employees, with average respective salaries of $99,601 and $61,363.

77.1% of workers have a bachelors degree, some college or high school or equivalent.

Gender and Age

277,272

Women

68.5%

127,412

Men

31.5%

The workforce of Savings institutions, including credit unions industry in 2023 was 404,684 people, with 68.5% woman, and 31.5% men.

The visualization shows the distribution of the workforce by gender and age in Savings institutions, including credit unions industry.

Races

In 2023, 70.5% of the workforce in the Savings institutions, including credit unions industry was White (285,303 people), of which 68.7% were women and 31.3% men.

Other races that concentrated a significant number of workers were Black and Two or More Races.

Educational Levels

The main educational levels achieved by the Savings institutions, including credit unions workers in 2023 were bachelors degree (121,549 people), some college (111,383 people), and high school or equivalent (78,943 people).

The chart shows the Savings institutions, including credit unions workforce by gender and educational level.

Projections

Growth projections of the Finance and Insurance and Depository Credit Intermediation industry, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 3.38% in the next ten years. The Finance and Insurance and Depository Credit Intermediation industry has a lower projected workforce growth at 3.38%. Its projected 10-year growth in output (21.8%) is lower than the projected national growth in output (21.8%).

Job Growth

For growth projections, the closest comparable industry reported by the Bureau of Labor Statistics is Finance and Insurance and Depository Credit Intermediation.

3.38%

Estimated Job Growth

10-year Projection

3.38%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Finance and Insurance and Depository Credit Intermediation. This industry is expected to grow approximately the same than 3.38%, the average rate of national job growth.

Output Growth

For growth projections, the closest comparable industry reported by the Bureau of Labor Statistics is Finance and Insurance and Depository Credit Intermediation.

21.8%

Estimate Growth

10-year Projection

This line chart shows the projected 10-year growth in output of the Finance and Insurance and Depository Credit Intermediation industry.