Savings institutions, including credit unions

Industry Group

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    Workforce Population
    407k
    2024
    Average Employee Age
    41.8
    2024
    Estimated Job Growth
    3.38%
    10-Year Projection
    Average Salary
    $76,103
    2024
    Average Male Salary
    $100,919
    2024
    Average Female Salary
    $64,246
    2024

    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 41.7 hours per week and have an average annual salary of $79,382. Part-time employees in the same industry work 23.1 hours and earn an average annual salary of $32,154.

    The locations with the highest concentration of employees in the Savings institutions, including credit unions Industry Group are Escambia County (North) PUMA, FL, Escambia County (Southwest) PUMA, FL, and Escambia County (Southeast) PUMA, FL.

    The workforce of Savings institutions, including credit unions Industry Group in 2024 was 407,209 people, with 67.7% woman, and 32.3% men.

    In 2024, 68% of the workforce in the Savings institutions, including credit unions Industry Group was White (276,756 people), of which 67.6% were women and 32.4% men.

    Photo by Ken Teegardin
    Finance & InsuranceFinance & 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 407,209 people and is concentrated in California (33,054 workers). The average annual salary was $76,103, being $6,225 more than the national average salary, which was $69,878.

    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).

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    Employment by Location

    The states that concentrated the largest workforce in 2024 were California (33.1k), Florida (31.1k), and Texas (29.8k).

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

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    Yearly Wage Ranking

    In 2024, Savings institutions, including credit unions Industry Group had an average annual wage of $76,103, $6,225 more than the average national salary of $69,878.

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

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    Wage Distribution

    0.388
    WAGE GINI

    Savings institutions, including credit unions has a wage GINI of 0.388, which is less than than the national average of 0.474. 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.

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    Occupations

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

    Financial managers are the most common position with 73,698 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 2024, the occupations that concentrated the largest number of employees in this industry were financial managers (73,698 people), tellers (54,145 people), and credit counselors & loan officers (41,442 people)

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    Wage by Sex in Common Jobs

    $100,919
    AVERAGE MALE SALARY
    ±$6,681
    $64,246
    AVERAGE FEMALE SALARY
    ±$2,596

    On average, Male workers in the Savings institutions, including credit unions Industry Group make 1.57 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.

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    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.

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    Intermediate Inputs

    The closest comparable data for Savings institutions, including credit unions is from Finance & Insurance, and Real Estate, Rental & Leasing.
    HIGHEST INPUT INDUSTRY
    1. Finance, insurance, real estate, rental, and leasing
    2. Professional and business services
    3. Information

    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. This visualization does not include labor and capital costs.

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    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
    1. Finance, insurance, real estate, rental, and leasing
    2. Professional and business services
    3. Transportation and warehousing

    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.

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    Establishments

    States with more establishments in 2022
    1. California
      60,055
    2. Texas
      50,881
    3. 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.

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    Diversity

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

    Of the total workforce, 67.7% corresponds to women and 32.3% men. Male employees tend to earn more than Female employees, with average respective salaries of $100,919 and $64,246.

    76.5% of workers have a bachelors degree, some college or high school or equivalent.

    Gender and Age

    275,550
    Women
    67.7%
    131,659
    Men
    32.3%

    The workforce of Savings institutions, including credit unions industry in 2024 was 407,209 people, with 67.7% woman, and 32.3% men.

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

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    Races

    In 2024, 68% of the workforce in the Savings institutions, including credit unions industry was White (276,756 people), of which 67.6% were women and 32.4% men.

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

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    Educational Levels

    The main educational levels achieved by the Savings institutions, including credit unions workers in 2024 were bachelors degree (124,473 people), some college (108,206 people), and high school or equivalent (79,032 people).

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

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    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.

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    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.

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