Financial and insurance services skills and workforce snapshot
Workforce overview
Victoria’s tenth largest employing industry:
- 160,000 people employed
- 4.2% of the Victorian workforce.
Top employing jobs in the industry:
- Bank workers
- Credit and loans officers.
Workforce profile
- Predominantly higher‑education qualified and culturally diverse workforce
- 44% of the people employed in the industry work in the finance sub-sector
- Higher proportion of the workforce is aged 25 to 64 (70% compared to 57% statewide)
- Most workers hold a higher-education qualification (62% compared to 41% statewide).
Projections
Strong employment growth projected:
- 17,500 new workers expected by 2028
- Growing at a rate of 2.0% per year to 2028, higher than the state average.
Top growing jobs in the industry are:
- Credit and loans officers, +1,800 new workers by 2028
- Financial investment advisers and managers, +1,400 by 2028.
Regional outlook
Regions expecting the highest share of new workers:
- Melbourne: Inner metropolitan Melbourne, +11,500 new workers by 2028
- Regional Victoria: Barwon, +560 new workers by 2028.
Skills demand
The top growing jobs in the industry range in skill level requirements:
- Higher skilled jobs in the industry command higher wages and have higher retention rates.
Most in-demand industry specific skills:
- General finance
- Agile software development.
Skills supply
Popular vocational education and training courses:
- Diploma of Finance and Mortgage Broking Management
- Certificate IV in Finance and Mortgage Broking.
Popular university study areas:
- Business management
- Management and commerce.
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