Page 1Icons/Ionic/iOS/ios-contactFill 1

Financial Services

Overview

The Financial Services industry encompasses a broad range of individuals and organisations involved in activities such as banking, insurance, superannuation, financial markets, and financial advice.

What does this industry cover?

  • Banks
  • Mortgage brokers
  • Financial markets
  • Financial planning and advice
  • Insurance
  • Superannuation
  • Accounting and bookkeeping
  • Mercantile agents
  • Trust administration

Industry Information

Financial services is one of Australia’s largest industries.  It employed over 450,000 people in 2015. The accounting sector is also a major employer, with approximately 350,000 accountants and accounting clerks in 2015.

Over 50% of workers in the financial services industry and accounting sector have a bachelor degree or higher, up 17 percentage points since 2006. 

Employment and wage data for this industry

Commencements Change

The change in Australian Apprenticeships commencements in this industry in the past two years. Commencements year to March 2018: 2209

Source: VOCSTATS, extracted on 26/09/2018. AATIS analysis.

Graduate Employment

Australian Apprentice graduates from this industry in employment (in any industry).

Source: NCVER National Student Outcomes Survey, 2017, unpublished. AATIS analysis.

Graduate Wage

Average wage of Australian Apprentice graduates from this industry employed full-time after training.

Source: NCVER National Student Outcomes Survey, 2017, unpublished. AATIS analysis.

Industry Growth

Growth in employment in this industry in the past 5 years.

Source: Department of Jobs and Small Business, 2017. AATIS analysis.

Industry Size

The number of employees in this industry compared with other Australian industries.

Source: Department of Jobs and Small Business, 2017. AATIS analysis.

Industry Wage

Average wage of all employees in this industry.

Source: Department of Jobs and Small Business, 2017. AATIS analysis.

Key Occupations

Superannuation Agent

Tax Agents

Financial Advisers

Mortage Brokers

Credit Agents

This industry is positioned in the following groups

Industry

Business, Clerical & Financial Services

Work Type

Analytic & Scientific

Organising & Clerical 

Helping & Advising

Ready to see where Financial Services can take you?

Career Pathways

Financial Services has career pathways from Certificate II through to Diploma. Look at the Job Pathway Chart to see what is of interest.

Job Pathway Chart

Practice Aptitude Quiz

This resource illustrates the maths and literacy needed to complete the entry level training in this sector.

Download The Quiz
 

Watch Damon - Ardoit Insurance Group

Play video
 

Watch Erwin - Accounting Trainee

Play video

Support Services

Further Research

Information

Industry information is published by peak level associations, government and major employers.  Accessing industry association sites, including member lists, is a good way of building up an understanding of an industry.  Visiting employer websites and looking for careers or employment menus helps identify how employers recruit and the skills they are recruiting.

Use Google to search for the associations and organisations listed below. 

Industry 

  • Australian Bankers Association
  • Australian Financial Markets Association
  • Australian Retail Credit Association
  • Financial Services Council
  • Insurance Council of Australia
  • Stockbrokers Association of Australia

Other relevant bodies

  • Auditing and Assurance Standards Board
  • Australian Accounting Standards Board
  • Australian Financial Security Authority
  • Australian Prudential Regulation Authority
  • Australian Securities Industrial Commission
  • Australian Transaction Reports and Analysis Centre
  • Council of Financial Regulators
  • Financial Reporting Council
  • Reserve Bank of Australia
  • Tax Practitioners Board

Career Sites