Finance & Insurance, and Real Estate, Rental & Leasing

About

The top three occupations in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector are financial managers, real estate brokers & sales agents, and insurance sales agents. 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 $90,484. Part-time employees in the same industry work 22.2 hours and earn an average annual salary of $33,142.

The locations with the highest concentration of employees in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector are Battery Park City, Greenwich Village & Soho PUMA, NY, Murray Hill, Gramercy & Stuyvesant Town PUMA, NY, and Chelsea, Clinton & Midtown Business District PUMA, NY.

The workforce of Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector in 2020 was 9,668,431 people, with 53.9% woman, and 46.1% men.

In 2020, 74.9% of the workforce in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector was White (7,239,182 people), of which 53.1% were women and 46.9% men.

Photo by Ken Teegardin

Employment & Salaries

A snapshot of workforce, wages, and opportunities in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

The workforce in Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector was 9,668,431 people and is concentrated in California (1,017,884 workers). The average annual salary was $84,443, being $28,489 more than the national average salary, which was $55,954.

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 2020 were California (1.02M), Texas (844k), and New York (729k).

This map shows the states in the United States shaded by workforce for Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

Yearly Wage Ranking

In 2020, Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector had an average annual wage of $84,443, $28,489 more than the average national salary of $55,954.

The graph shows the position of Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector in the ranking of industries by average annual wage.

Wage Distribution

0.478

WAGE GINI

Finance & Insurance, and Real Estate, Rental & Leasing has a wage GINI of 0.478, which is less than than the national average of 0.478. 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).

The graphic shows the distribution of average salaries by buckets for Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector workers compared to the entire workforce in the country.

Occupations

A review of jobs and wages in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

Financial managers are the most common position with 768,848 workers, but the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector employs a relatively high number of Real estate brokers & sales agents and Insurance sales agents.

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

Occupations Distribution

The graph shows the distribution of employees in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector according to occupations. In 2020, the occupations that concentrated the largest number of employees in this industry were financial managers (768,848 people), real estate brokers & sales agents (630,309 people), and insurance sales agents (501,246 people)

Wage by Sex in Common Jobs

$109,276

AVERAGE MALE SALARY

±$1,443

$63,236

AVERAGE FEMALE SALARY

±$712

On average, Male workers in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector make 1.73 times more than their Female counterparts. This chart shows the sex-based wage disparity in the 5 most common occupations in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

Business

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.

The industrial flow illustrates the intermediate inputs and the use of outputs of the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

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.

California and Texas stand out as the states with the largest number of establishments in the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector.

Industrial Flow

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 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

HIGHEST INPUT INDUSTRY

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.

Use of Output by Other Industries

LARGEST PURCHASING INDUSTRY

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.

Establishments

States with more establishments in 2016

California
425,040
Texas
318,580
Florida
278,414

The charts shows the distribution of establishments in the Finance & Insurance, and Real Estate, Rental & Leasing industry by states and the number of establishments according to size.

Median Earnings

States with the highest median earnings in 2020

The charts shows the median earnings of the Finance & Insurance, and Real Estate, Rental & Leasing industry by state and the annual evolution of the median earnings of the industry compared to the national level.

Diversity

Demographic information on the Finance & Insurance, and Real Estate, Rental & Leasing Industry Sector in the US.

Of the total workforce, 53.9% corresponds to women and 46.1% men. Male employees tend to earn more than Female employees, with average respective salaries of $109,276 and $63,236.

74.6% of workers have a bachelors degree, some college or high school or equivalent.

Gender and Age

5,214,988

Women

53.9%

4,453,443

Men

46.1%

The workforce of Finance & Insurance, and Real Estate, Rental & Leasing industry in 2020 was 9,668,431 people, with 53.9% woman, and 46.1% men.

The visualization shows the distribution of the workforce by gender and age in Finance & Insurance, and Real Estate, Rental & Leasing industry.

Races

In 2020, 74.9% of the workforce in the Finance & Insurance, and Real Estate, Rental & Leasing industry was White (7,239,182 people), of which 53.1% were women and 46.9% men.

Other races that concentrated a significant number of workers were Black and Asian.

Educational Levels

The main educational levels achieved by the Finance & Insurance, and Real Estate, Rental & Leasing workers in 2020 were bachelors degree (3,492,902 people), some college (2,166,245 people), and high school or equivalent (1,555,346 people).

The chart shows the Finance & Insurance, and Real Estate, Rental & Leasing workforce by gender and educational level.

Projections

Growth projections of the Finance and Insurance industry, both by number of employees and output, from the Bureau of Labor and Statistics. The national workforce is projected to grow 7.66% in the next ten years. The Finance and Insurance industry has a lower projected workforce growth at 1.03%. Its projected 10-year growth in output (15.2%) is lower than the projected national growth in output (24.2%).

Job Growth

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

1.03%

Estimated Job Growth

10-year Projection

7.66%

National Growth

10-year Projection

This line chart shows the projected 10-year growth in the number of jobs for Finance and Insurance. This industry is expected to grow less than than 7.66%, 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.

15.2%

Estimate Growth

10-year Projection

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

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