Savings institutions, including credit unions

Industry Group

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Workforce Population

307k

2021

Average Employee Age

41.1

2021

Estimated Job Growth

1.03%

10-Year Projection

Average Salary

$60,486

2021

Average Male Salary

$82,422

2021

Average Female Salary

$50,989

2021

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 41.6 hours per week and have an average annual salary of $63,926. Part-time employees in the same industry work 24 hours and earn an average annual salary of $25,500.

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

The workforce of Savings institutions, including credit unions Industry Group in 2021 was 306,688 people, with 69.8% woman, and 30.2% men.

In 2021, 75.1% of the workforce in the Savings institutions, including credit unions Industry Group was White (230,176 people), of which 70.3% were women and 29.7% 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 306,688 people and is concentrated in California (26,702 workers). The average annual salary was $60,486, being $891 more than the national average salary, which was $59,596.

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 2021 were California (26.7k), Florida (23.4k), and Texas (22.1k).

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

Yearly Wage Ranking

In 2021, Savings institutions, including credit unions Industry Group had an average annual wage of $60,486, $891 more than the average national salary of $59,596.

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

Wage Distribution

0.376

WAGE GINI

Savings institutions, including credit unions has a wage GINI of 0.376, which is less than than the national average of 0.478. 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 47,867 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 Lawyers, & judges, magistrates, & other judicial workers.

Occupations Distribution

The graph shows the distribution of employees in the Savings institutions, including credit unions Industry Group according to occupations. In 2021, the occupations that concentrated the largest number of employees in this industry were financial managers (47,867 people), tellers (46,596 people), and credit counselors & loan officers (33,111 people)

Wage by Sex in Common Jobs

$82,422

AVERAGE MALE SALARY

±$6,496

$50,989

AVERAGE FEMALE SALARY

±$2,110

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

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 2016

California
19,674
Texas
16,742
Florida
13,762

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, 69.8% corresponds to women and 30.2% men. Male employees tend to earn more than Female employees, with average respective salaries of $82,422 and $50,989.

78% of workers have a some college, bachelors degree or high school or equivalent.

Gender and Age

214,024

Women

69.8%

92,664

Men

30.2%

The workforce of Savings institutions, including credit unions industry in 2021 was 306,688 people, with 69.8% woman, and 30.2% men.

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

Races

In 2021, 75.1% of the workforce in the Savings institutions, including credit unions industry was White (230,176 people), of which 70.3% were women and 29.7% 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 2021 were some college (89,592 people), bachelors degree (89,171 people), and high school or equivalent (60,389 people).

The chart shows the Savings institutions, including credit unions 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.