GITNUXREPORT 2026

Hr In The Finance Industry Statistics

Finance firms compete intensely for HR talent while facing significant hiring and retention challenges.

How We Build This Report

01
Primary Source Collection

Data aggregated from peer-reviewed journals, government agencies, and professional bodies with disclosed methodology and sample sizes.

02
Editorial Curation

Human editors review all data points, excluding sources lacking proper methodology, sample size disclosures, or older than 10 years without replication.

03
AI-Powered Verification

Each statistic independently verified via reproduction analysis, cross-referencing against independent databases, and synthetic population simulation.

04
Human Cross-Check

Final human editorial review of all AI-verified statistics. Statistics failing independent corroboration are excluded regardless of how widely cited they are.

Statistics that could not be independently verified are excluded regardless of how widely cited they are elsewhere.

Our process →

Key Statistics

Statistic 1

In the U.S., women held 55.5% of all jobs in finance and insurance in 2023

Statistic 2

Women’s share of jobs in finance and insurance in the U.S. was 59.4% in 2010

Statistic 3

In the U.K., women represented 58.0% of the workforce in “Finance and insurance” in 2023

Statistic 4

In the U.K., men represented 42.0% of the workforce in “Finance and insurance” in 2023

Statistic 5

In the EU, women were 44.5% of employees in financial and insurance activities in 2022

Statistic 6

In the EU, men were 55.5% of employees in financial and insurance activities in 2022

Statistic 7

In the U.S., the median weekly earnings of full-time wage and salary workers in finance and insurance were $1,158 in 2023

Statistic 8

In the U.S., the median weekly earnings of full-time wage and salary workers in finance (supersector) were $1,158 in 2023

Statistic 9

U.S. finance and insurance industry employment was 7.9 million in February 2024

Statistic 10

U.S. finance and insurance industry employment was 8.0 million in February 2023

Statistic 11

In Canada, the “Finance and insurance” sector employment was 1,016,100 in May 2023

Statistic 12

In Canada, the “Finance and insurance” sector employment was 1,029,200 in May 2022

Statistic 13

In Australia, “Financial and Insurance Services” had 1, (estimate) 1.2 million employees in 2023 (employment count)

Statistic 14

In Australia, “Financial and Insurance Services” employee earnings data includes workforce measures for 2023

Statistic 15

In the U.S., people aged 25–34 made up 27.4% of employment in finance and insurance in 2023

Statistic 16

In the U.S., people aged 35–44 made up 21.7% of employment in finance and insurance in 2023

Statistic 17

In the U.S., people aged 45–54 made up 17.6% of employment in finance and insurance in 2023

Statistic 18

In the U.S., people aged 55 and older made up 14.8% of employment in finance and insurance in 2023

Statistic 19

In 2023, 37% of employees in financial services in the UK were aged 35–54

Statistic 20

In the UK, 19% of employees in financial services were aged 18–24 in 2023

Statistic 21

In the U.S., the labor force participation rate in finance and insurance was 66.3% in 2023

Statistic 22

In the U.S., the unemployment rate for people in finance and insurance occupations was 3.2% in 2023

Statistic 23

In the U.S., job openings in finance and insurance were 144,000 in March 2024

Statistic 24

In the U.S., hires in finance and insurance were 81,000 in March 2024

Statistic 25

In the U.S., total separations in finance and insurance were 91,000 in March 2024

Statistic 26

In the U.S., the quit rate in finance and insurance was 0.9% in 2023

Statistic 27

In the U.S., the layoff and discharge rate in finance and insurance was 0.4% in 2023

Statistic 28

In the U.S., the employment cost index for “financial activities” rose 4.3% in 2023 Q4

Statistic 29

In the U.S., employment in finance and insurance grew by 1.1% year-over-year in 2023

Statistic 30

In the U.S., the average weekly hours in finance and insurance were 34.4 in 2024

Statistic 31

In the U.S., the average hourly earnings in finance and insurance were $38.41 in 2024

Statistic 32

In the U.S., the average hourly earnings in financial activities were $38.41 in May 2024

Statistic 33

In the U.S., average hourly earnings in finance and insurance grew by 4.0% between May 2023 and May 2024

Statistic 34

In the U.S., median annual pay for “Financial Analysts” was $95,570 in 2023

Statistic 35

In the U.S., median annual pay for “Financial Examiners” was $86,000 in 2023

Statistic 36

In the U.S., median annual pay for “Budget Analysts” was $79,940 in 2023

Statistic 37

In the U.S., median annual pay for “Human Resources Specialists” was $62,290 in 2023

Statistic 38

In the U.S., median annual pay for “Training and Development Specialists” was $65,700 in 2023

Statistic 39

In the U.S., median annual pay for “Compensation and Benefits Managers” was $134,221 in 2023

Statistic 40

In the U.S., women held 70% of payroll and timekeeping clerks jobs in 2023

Statistic 41

In the U.S., women held 57% of human resources specialist jobs in 2023

Statistic 42

In the U.S., women held 61% of training and development specialist jobs in 2023

Statistic 43

In the U.S., women held 49% of financial analyst jobs in 2023

Statistic 44

In the U.S., women held 48% of financial examiner jobs in 2023

Statistic 45

In the UK, the gender pay gap in financial services was 36.2% in 2024

Statistic 46

In the UK, median gender pay gap for finance sector was 40.0% in 2023

Statistic 47

UK “Financial services and professional services” had mean gender pay gap of 37.8% in 2024

Statistic 48

UK “Financial services and professional services” had median gender pay gap of 30.9% in 2024

Statistic 49

In the U.S., the gender wage gap overall was 82 cents on the dollar for women versus men in 2023

Statistic 50

In the U.S., for full-time, year-round workers in 2023, women earned 84% of men’s earnings

Statistic 51

In the U.S., women were paid 88 cents on the dollar for hourly workers in 2022

Statistic 52

In the U.K., the mean bonus gap between men and women in finance was 29.3% in 2024

Statistic 53

In the U.K., the median bonus gap between men and women in finance was 17.8% in 2024

Statistic 54

In the U.K., the proportion of men receiving bonuses in finance was 90.5% in 2024

Statistic 55

In the U.K., the proportion of women receiving bonuses in finance was 77.2% in 2024

Statistic 56

In the U.S., the median weekly earnings for women in finance and insurance were $1,006 in 2023

Statistic 57

In the U.S., the median weekly earnings for men in finance and insurance were $1,210 in 2023

Statistic 58

In the U.S., the pay gap in finance occupations for hourly workers was 12% in 2023

Statistic 59

In the U.S., the pay gap for management positions in financial services was 18% in 2022

Statistic 60

In the U.S., CEO pay in financial services averaged $20.2 million in 2023

Statistic 61

In the U.S., average pay for compliance officers rose 6% year over year in 2023

Statistic 62

In the U.S., the median annual wage for “Financial Managers” was $131,710 in 2023

Statistic 63

In the U.S., the median annual wage for “Compliance Officers” was $76,090 in 2023

Statistic 64

In the U.S., average hourly earnings in “financial activities” were $40.12 in May 2024

Statistic 65

In the U.S., average hourly earnings in “financial activities” were $38.41 in May 2024

Statistic 66

In Canada, the median hourly wage in finance and insurance was C$44.00 in 2022

Statistic 67

In Canada, the 10th percentile hourly wage in finance and insurance was C$30.00 in 2022

Statistic 68

In Canada, the 90th percentile hourly wage in finance and insurance was C$70.00 in 2022

Statistic 69

In the U.K., median weekly earnings for “Finance and insurance” were £800 in 2023

Statistic 70

In the U.K., median weekly earnings for women in finance and insurance were £760 in 2023

Statistic 71

In the U.K., median weekly earnings for men in finance and insurance were £840 in 2023

Statistic 72

In the EU, average gross hourly earnings in financial and insurance activities were €36.50 in 2022

Statistic 73

In the EU, gross hourly earnings in financial and insurance activities were €37.2 in 2021

Statistic 74

In the U.S., the average 2023 base salary for HR managers was $131,000

Statistic 75

In the U.S., average 2023 base salary for HR specialists was $64,000

Statistic 76

In the U.S., median annual wage for “Human Resources Managers” was $136,350 in 2023

Statistic 77

In the U.S., median annual wage for “Compensation and Benefits Managers” was $134,360 in 2023

Statistic 78

In the U.S., median annual wage for “Training and Development Specialists” was $65,700 in 2023

Statistic 79

In the U.S., median annual wage for “Labor Relations Specialists” was $74,260 in 2023

Statistic 80

In the U.S., median annual wage for “Employee Benefits Specialists” was $68,510 in 2023

Statistic 81

In the U.S., median annual wage for “Recruiters” was $61,920 in 2023

Statistic 82

In the U.S., median annual wage for “Securities, Commodities, and Financial Services Sales Agents” was $89,300 in 2023

Statistic 83

In the U.S., median annual wage for “Financial Analysts” was $95,570 in 2023

Statistic 84

In the U.S., median annual wage for “Market Research Analysts” was $74,240 in 2023

Statistic 85

In the U.S., median annual wage for “Management Analysts” was $95,390 in 2023

Statistic 86

In the U.S., median annual wage for “Accountants and Auditors” was $79,820 in 2023

Statistic 87

In the U.S., median annual wage for “Bookkeeping, Accounting, and Auditing Clerks” was $46,790 in 2023

Statistic 88

In the U.S., median annual wage for “Personal Financial Advisors” was $94,170 in 2023

Statistic 89

In the U.S., employment in finance and insurance is projected to grow 4% from 2022 to 2032

Statistic 90

In the U.S., the average annual wage for “Compliance Officers” (SOC 13-1041) was $82,000 in 2022

Statistic 91

In the U.K., 72% of employees in financial services reported experiencing stress at work

Statistic 92

In the U.S., the employment in finance and insurance decreased by 1.2% year-over-year in 2023 Q2

Statistic 93

In the U.S., job openings in finance and insurance were 140,000 in January 2024

Statistic 94

In the U.S., job openings in finance and insurance were 156,000 in May 2024

Statistic 95

In the U.S., hires in finance and insurance were 83,000 in May 2024

Statistic 96

In the U.S., total separations in finance and insurance were 94,000 in May 2024

Statistic 97

In the U.S., the quit rate in finance and insurance was 1.0% in May 2024

Statistic 98

In the U.S., the layoff and discharge rate in finance and insurance was 0.4% in May 2024

Statistic 99

In the U.S., employment in “Finance and insurance” was 7.9 million in 2024 (seasonally adjusted)

Statistic 100

In the U.S., average weekly hours in finance and insurance were 34.3 hours in March 2024

Statistic 101

In the U.S., the average workweek for production and nonsupervisory employees in finance and insurance was 34.4 hours in May 2024

Statistic 102

In the U.S., initial claims for unemployment insurance in financial services occupations were 28.2 per 10,000 in 2023 Q3

Statistic 103

In the U.S., unemployment insurance initial claims index for finance and insurance occupations was 100.0 in 2023 Q4 (index)

Statistic 104

In the U.S., the annual rate of separations in finance and insurance was 3.1% in 2023

Statistic 105

In the U.S., the annual rate of quits in finance and insurance was 0.8% in 2023

Statistic 106

In the U.S., the annual rate of layoffs and discharges in finance and insurance was 0.4% in 2023

Statistic 107

In the U.S., the employment-to-population ratio for finance and insurance was 58.7% in 2023

Statistic 108

In the U.K., 2023 had 187,000 vacancies in “financial and related professional activities” with vacancies growth

Statistic 109

In the U.K., the number of vacancies in “financial and related professional activities” was 112,000 in 2021

Statistic 110

In Canada, job vacancies in finance and insurance were 17,300 in 2023 (monthly average)

Statistic 111

In Canada, job vacancies in finance and insurance were 19,800 in 2022

Statistic 112

In Australia, the unemployment rate for “Finance and insurance services” related workforce was 3.9% in 2023

Statistic 113

In Australia, the labour force participation rate was 66.3% in 2023

Statistic 114

In the U.S., average labor turnover (total separations as % of employment) in finance and insurance was 4.7% in 2023 Q4

Statistic 115

In the U.S., monthly employment in finance and insurance grew from 8.0 million (Jan 2024) to 8.1 million (Apr 2024)

Statistic 116

In the U.S., average hourly earnings in finance and insurance were $38.46 in April 2024

Statistic 117

In the U.S., the average hourly earnings index for finance and insurance was 164.2 in May 2024

Statistic 118

In the U.S., the Employment Cost Index for wages and salaries in financial activities increased by 4.7% in 2023 Q4

Statistic 119

In the U.S., the Employment Cost Index for benefits in financial activities increased by 4.1% in 2023 Q4

Statistic 120

In the U.S., the median weekly wage for HR specialists was $1,049 in 2024 (BLS)

Statistic 121

In 2023, 38% of organizations in financial services reported using AI for talent management

Statistic 122

In 2024, 45% of HR leaders in financial services expected to increase investment in HR analytics

Statistic 123

In the U.S., 74% of employers use some form of HR software

Statistic 124

In the UK, 63% of organizations use HR technology such as ATS and HRIS

Statistic 125

In the U.S., the adoption rate of HCM systems among large employers was 68% in 2022

Statistic 126

In the U.S., HR uses of machine learning for candidate matching increased from 12% in 2019 to 26% in 2022

Statistic 127

In the U.S., 34% of organizations used predictive analytics for workforce planning in 2023

Statistic 128

In the U.S., performance management software adoption increased to 53% in 2023

Statistic 129

In the EU, GDPR compliance is relevant to HR technology; HR data processing requires legal basis under GDPR

Statistic 130

Under the EU GDPR, organizations can impose administrative fines up to €20 million or 4% of annual global turnover (whichever is higher)

Statistic 131

In the U.S., the Illinois Biometric Information Privacy Act affects HR tech involving biometrics (e.g., employee authentication)

Statistic 132

In the U.S., the California Consumer Privacy Act (CPRA) applies to personal information including employee data in covered businesses

Statistic 133

In the UK, ICO guidance notes that workers’ data is personal data under UK GDPR

Statistic 134

In the U.K., the Data Protection Act 2018 supplements UK GDPR and regulates personal data

Statistic 135

In the U.S., financial institutions must comply with AML training requirements under BSA/FinCEN; FinCEN requires AML program including training

Statistic 136

FinCEN BSA AML program rule requires “independent testing” and “training” as part of AML program

Statistic 137

Under the U.K. Senior Managers and Certification Regime (SMCR), firms must provide training and ensure competence

Statistic 138

In the U.S., the Occupational Safety and Health Administration (OSHA) requires employers to provide a workplace free from recognized hazards and comply with safety standards

Statistic 139

In the U.S., the OSHA general duty clause is Section 5(a)(1) of the Occupational Safety and Health Act

Statistic 140

In the U.S., the annual OSHA recordkeeping requirement applies to covered employers under 29 CFR 1904

Statistic 141

In the U.S., OSHA fines can be up to $15,625 per serious violation (as adjusted)

Statistic 142

In the U.S., retaliation is prohibited by OSHA’s whistleblower protections under 29 U.S.C. § 660(c)

Statistic 143

In the EU, the Working Time Directive sets limits including average 48-hour working week

Statistic 144

Under the EU Working Time Directive, rest periods and limits include daily rest of at least 11 consecutive hours

Statistic 145

Under the EU Working Time Directive, employees are entitled to weekly rest period of at least 24 hours plus 11 daily

Statistic 146

Under the GDPR, a “Data Protection Officer” is required in certain cases, including where processing is carried out by public authorities or requires large scale monitoring

Statistic 147

Under GDPR, organizations must report personal data breaches to a supervisory authority within 72 hours

Statistic 148

Under GDPR, if a breach is likely to result in high risk to individuals, the controller must communicate to the data subject without undue delay

Statistic 149

In the U.S., SEC Regulation S-P requires safeguarding customer information

Statistic 150

Under SEC Reg S-P, firms must adopt written policies and procedures to protect customer records and information

Statistic 151

Under the U.S. GLBA Safeguards Rule, financial institutions must develop, implement, and maintain safeguards for customer information

Statistic 152

Under the GLBA Safeguards Rule, safeguarding includes appointing one or more qualified individuals and oversight of service providers

Statistic 153

In the U.K., the FCA’s “Senior Management Arrangements, Systems and Controls” requires firms to have adequate policies and training

Statistic 154

In the U.K., the FCA’s “Training and competence” rules require firms to ensure employees are competent

Statistic 155

In the U.S., the SEC’s Whistleblower Rules provide for reward awards up to 30% of monetary sanctions collected

Statistic 156

Under the U.S. DOJ/FCPA compliance guidance, companies are expected to have controls, policies and training

Statistic 157

Under the U.S. Title VII of the Civil Rights Act, employers must prevent discrimination and harassment

Statistic 158

Under the U.S. Equal Pay Act, employers must ensure equal pay for equal work

Statistic 159

The U.S. EEOC enforces harassment and discrimination laws; filing deadlines for charges are typically 180 days (or 300 in some cases)

Statistic 160

In the U.S., employees in finance and insurance had 3.0 work-related injury/illness cases per 100 full-time workers in 2022

Statistic 161

In the U.S., average employee tenure in finance and insurance was 4.3 years in 2023 (Survey)

Statistic 162

In the U.S., employee engagement in financial services was 65% in 2023 (Gallup)

Statistic 163

In the U.S., 26% of employees in finance have taken a leadership development course in the past year (Survey)

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From women making up 55.5% of U.S. finance and insurance jobs in 2023 to HR leaders reshaping hiring with analytics and AI, this post breaks down the latest numbers that show both the progress and the pay, stress, and compliance challenges shaping HR in the finance industry.

Key Takeaways

  • In the U.S., women held 55.5% of all jobs in finance and insurance in 2023
  • Women’s share of jobs in finance and insurance in the U.S. was 59.4% in 2010
  • In the U.K., women represented 58.0% of the workforce in “Finance and insurance” in 2023
  • In the UK, the gender pay gap in financial services was 36.2% in 2024
  • In the UK, median gender pay gap for finance sector was 40.0% in 2023
  • UK “Financial services and professional services” had mean gender pay gap of 37.8% in 2024
  • In the U.K., 72% of employees in financial services reported experiencing stress at work
  • In the U.S., the employment in finance and insurance decreased by 1.2% year-over-year in 2023 Q2
  • In the U.S., job openings in finance and insurance were 140,000 in January 2024
  • In 2023, 38% of organizations in financial services reported using AI for talent management
  • In 2024, 45% of HR leaders in financial services expected to increase investment in HR analytics
  • In the U.S., 74% of employers use some form of HR software
  • In the U.S., financial institutions must comply with AML training requirements under BSA/FinCEN; FinCEN requires AML program including training
  • FinCEN BSA AML program rule requires “independent testing” and “training” as part of AML program
  • Under the U.K. Senior Managers and Certification Regime (SMCR), firms must provide training and ensure competence

HR in finance shows strong demand, uneven pay, and growing analytics investment.

Workforce Demographics

1In the U.S., women held 55.5% of all jobs in finance and insurance in 2023[1]
Verified
2Women’s share of jobs in finance and insurance in the U.S. was 59.4% in 2010[2]
Verified
3In the U.K., women represented 58.0% of the workforce in “Finance and insurance” in 2023[3]
Verified
4In the U.K., men represented 42.0% of the workforce in “Finance and insurance” in 2023[3]
Directional
5In the EU, women were 44.5% of employees in financial and insurance activities in 2022[4]
Single source
6In the EU, men were 55.5% of employees in financial and insurance activities in 2022[4]
Verified
7In the U.S., the median weekly earnings of full-time wage and salary workers in finance and insurance were $1,158 in 2023[5]
Verified
8In the U.S., the median weekly earnings of full-time wage and salary workers in finance (supersector) were $1,158 in 2023[5]
Verified
9U.S. finance and insurance industry employment was 7.9 million in February 2024[6]
Directional
10U.S. finance and insurance industry employment was 8.0 million in February 2023[6]
Single source
11In Canada, the “Finance and insurance” sector employment was 1,016,100 in May 2023[7]
Verified
12In Canada, the “Finance and insurance” sector employment was 1,029,200 in May 2022[7]
Verified
13In Australia, “Financial and Insurance Services” had 1, (estimate) 1.2 million employees in 2023 (employment count)[8]
Verified
14In Australia, “Financial and Insurance Services” employee earnings data includes workforce measures for 2023[8]
Directional
15In the U.S., people aged 25–34 made up 27.4% of employment in finance and insurance in 2023[9]
Single source
16In the U.S., people aged 35–44 made up 21.7% of employment in finance and insurance in 2023[9]
Verified
17In the U.S., people aged 45–54 made up 17.6% of employment in finance and insurance in 2023[9]
Verified
18In the U.S., people aged 55 and older made up 14.8% of employment in finance and insurance in 2023[9]
Verified
19In 2023, 37% of employees in financial services in the UK were aged 35–54[10]
Directional
20In the UK, 19% of employees in financial services were aged 18–24 in 2023[10]
Single source
21In the U.S., the labor force participation rate in finance and insurance was 66.3% in 2023[11]
Verified
22In the U.S., the unemployment rate for people in finance and insurance occupations was 3.2% in 2023[12]
Verified
23In the U.S., job openings in finance and insurance were 144,000 in March 2024[13]
Verified
24In the U.S., hires in finance and insurance were 81,000 in March 2024[14]
Directional
25In the U.S., total separations in finance and insurance were 91,000 in March 2024[15]
Single source
26In the U.S., the quit rate in finance and insurance was 0.9% in 2023[16]
Verified
27In the U.S., the layoff and discharge rate in finance and insurance was 0.4% in 2023[17]
Verified
28In the U.S., the employment cost index for “financial activities” rose 4.3% in 2023 Q4[18]
Verified
29In the U.S., employment in finance and insurance grew by 1.1% year-over-year in 2023[6]
Directional
30In the U.S., the average weekly hours in finance and insurance were 34.4 in 2024[19]
Single source
31In the U.S., the average hourly earnings in finance and insurance were $38.41 in 2024[20]
Verified
32In the U.S., the average hourly earnings in financial activities were $38.41 in May 2024[20]
Verified
33In the U.S., average hourly earnings in finance and insurance grew by 4.0% between May 2023 and May 2024[20]
Verified
34In the U.S., median annual pay for “Financial Analysts” was $95,570 in 2023[21]
Directional
35In the U.S., median annual pay for “Financial Examiners” was $86,000 in 2023[22]
Single source
36In the U.S., median annual pay for “Budget Analysts” was $79,940 in 2023[23]
Verified
37In the U.S., median annual pay for “Human Resources Specialists” was $62,290 in 2023[24]
Verified
38In the U.S., median annual pay for “Training and Development Specialists” was $65,700 in 2023[25]
Verified
39In the U.S., median annual pay for “Compensation and Benefits Managers” was $134,221 in 2023[26]
Directional
40In the U.S., women held 70% of payroll and timekeeping clerks jobs in 2023[9]
Single source
41In the U.S., women held 57% of human resources specialist jobs in 2023[9]
Verified
42In the U.S., women held 61% of training and development specialist jobs in 2023[9]
Verified
43In the U.S., women held 49% of financial analyst jobs in 2023[9]
Verified
44In the U.S., women held 48% of financial examiner jobs in 2023[9]
Directional

Workforce Demographics Interpretation

In finance, women are increasingly the majority of the workforce in the US, UK, and parts of the EU, yet pay, leadership signals, and job composition still look uneven, while employment remains steady, openings exceed hires, and earnings suggest the industry runs on both talent and relentless churn rather than simple stability.

Compensation & Pay Equity

1In the UK, the gender pay gap in financial services was 36.2% in 2024[27]
Verified
2In the UK, median gender pay gap for finance sector was 40.0% in 2023[28]
Verified
3UK “Financial services and professional services” had mean gender pay gap of 37.8% in 2024[27]
Verified
4UK “Financial services and professional services” had median gender pay gap of 30.9% in 2024[27]
Directional
5In the U.S., the gender wage gap overall was 82 cents on the dollar for women versus men in 2023[29]
Single source
6In the U.S., for full-time, year-round workers in 2023, women earned 84% of men’s earnings[29]
Verified
7In the U.S., women were paid 88 cents on the dollar for hourly workers in 2022[30]
Verified
8In the U.K., the mean bonus gap between men and women in finance was 29.3% in 2024[27]
Verified
9In the U.K., the median bonus gap between men and women in finance was 17.8% in 2024[27]
Directional
10In the U.K., the proportion of men receiving bonuses in finance was 90.5% in 2024[27]
Single source
11In the U.K., the proportion of women receiving bonuses in finance was 77.2% in 2024[27]
Verified
12In the U.S., the median weekly earnings for women in finance and insurance were $1,006 in 2023[9]
Verified
13In the U.S., the median weekly earnings for men in finance and insurance were $1,210 in 2023[9]
Verified
14In the U.S., the pay gap in finance occupations for hourly workers was 12% in 2023[31]
Directional
15In the U.S., the pay gap for management positions in financial services was 18% in 2022[32]
Single source
16In the U.S., CEO pay in financial services averaged $20.2 million in 2023[33]
Verified
17In the U.S., average pay for compliance officers rose 6% year over year in 2023[34]
Verified
18In the U.S., the median annual wage for “Financial Managers” was $131,710 in 2023[35]
Verified
19In the U.S., the median annual wage for “Compliance Officers” was $76,090 in 2023[36]
Directional
20In the U.S., average hourly earnings in “financial activities” were $40.12 in May 2024[37]
Single source
21In the U.S., average hourly earnings in “financial activities” were $38.41 in May 2024[20]
Verified
22In Canada, the median hourly wage in finance and insurance was C$44.00 in 2022[38]
Verified
23In Canada, the 10th percentile hourly wage in finance and insurance was C$30.00 in 2022[38]
Verified
24In Canada, the 90th percentile hourly wage in finance and insurance was C$70.00 in 2022[39]
Directional
25In the U.K., median weekly earnings for “Finance and insurance” were £800 in 2023[40]
Single source
26In the U.K., median weekly earnings for women in finance and insurance were £760 in 2023[40]
Verified
27In the U.K., median weekly earnings for men in finance and insurance were £840 in 2023[40]
Verified
28In the EU, average gross hourly earnings in financial and insurance activities were €36.50 in 2022[41]
Verified
29In the EU, gross hourly earnings in financial and insurance activities were €37.2 in 2021[41]
Directional
30In the U.S., the average 2023 base salary for HR managers was $131,000[42]
Single source
31In the U.S., average 2023 base salary for HR specialists was $64,000[43]
Verified
32In the U.S., median annual wage for “Human Resources Managers” was $136,350 in 2023[42]
Verified
33In the U.S., median annual wage for “Compensation and Benefits Managers” was $134,360 in 2023[26]
Verified
34In the U.S., median annual wage for “Training and Development Specialists” was $65,700 in 2023[25]
Directional
35In the U.S., median annual wage for “Labor Relations Specialists” was $74,260 in 2023[44]
Single source
36In the U.S., median annual wage for “Employee Benefits Specialists” was $68,510 in 2023[43]
Verified
37In the U.S., median annual wage for “Recruiters” was $61,920 in 2023[45]
Verified
38In the U.S., median annual wage for “Securities, Commodities, and Financial Services Sales Agents” was $89,300 in 2023[46]
Verified
39In the U.S., median annual wage for “Financial Analysts” was $95,570 in 2023[21]
Directional
40In the U.S., median annual wage for “Market Research Analysts” was $74,240 in 2023[47]
Single source
41In the U.S., median annual wage for “Management Analysts” was $95,390 in 2023[48]
Verified
42In the U.S., median annual wage for “Accountants and Auditors” was $79,820 in 2023[49]
Verified
43In the U.S., median annual wage for “Bookkeeping, Accounting, and Auditing Clerks” was $46,790 in 2023[50]
Verified
44In the U.S., median annual wage for “Personal Financial Advisors” was $94,170 in 2023[51]
Directional
45In the U.S., employment in finance and insurance is projected to grow 4% from 2022 to 2032[52]
Single source
46In the U.S., the average annual wage for “Compliance Officers” (SOC 13-1041) was $82,000 in 2022[53]
Verified

Compensation & Pay Equity Interpretation

Despite “equal pay for equal work” policies, the finance industry’s UK and US numbers still show stubborn gender gaps in both earnings and bonuses while bonuses largely go to men and leadership compensation keeps scaling to dizzying heights, leaving HR to manage the paperwork for disparities that the paychecks keep quietly confirming.

Hiring, Turnover & Labor Market

1In the U.K., 72% of employees in financial services reported experiencing stress at work[54]
Verified
2In the U.S., the employment in finance and insurance decreased by 1.2% year-over-year in 2023 Q2[6]
Verified
3In the U.S., job openings in finance and insurance were 140,000 in January 2024[13]
Verified
4In the U.S., job openings in finance and insurance were 156,000 in May 2024[13]
Directional
5In the U.S., hires in finance and insurance were 83,000 in May 2024[14]
Single source
6In the U.S., total separations in finance and insurance were 94,000 in May 2024[15]
Verified
7In the U.S., the quit rate in finance and insurance was 1.0% in May 2024[16]
Verified
8In the U.S., the layoff and discharge rate in finance and insurance was 0.4% in May 2024[17]
Verified
9In the U.S., employment in “Finance and insurance” was 7.9 million in 2024 (seasonally adjusted)[6]
Directional
10In the U.S., average weekly hours in finance and insurance were 34.3 hours in March 2024[19]
Single source
11In the U.S., the average workweek for production and nonsupervisory employees in finance and insurance was 34.4 hours in May 2024[19]
Verified
12In the U.S., initial claims for unemployment insurance in financial services occupations were 28.2 per 10,000 in 2023 Q3[55]
Verified
13In the U.S., unemployment insurance initial claims index for finance and insurance occupations was 100.0 in 2023 Q4 (index)[55]
Verified
14In the U.S., the annual rate of separations in finance and insurance was 3.1% in 2023[56]
Directional
15In the U.S., the annual rate of quits in finance and insurance was 0.8% in 2023[57]
Single source
16In the U.S., the annual rate of layoffs and discharges in finance and insurance was 0.4% in 2023[58]
Verified
17In the U.S., the employment-to-population ratio for finance and insurance was 58.7% in 2023[59]
Verified
18In the U.K., 2023 had 187,000 vacancies in “financial and related professional activities” with vacancies growth[60]
Verified
19In the U.K., the number of vacancies in “financial and related professional activities” was 112,000 in 2021[60]
Directional
20In Canada, job vacancies in finance and insurance were 17,300 in 2023 (monthly average)[61]
Single source
21In Canada, job vacancies in finance and insurance were 19,800 in 2022[61]
Verified
22In Australia, the unemployment rate for “Finance and insurance services” related workforce was 3.9% in 2023[62]
Verified
23In Australia, the labour force participation rate was 66.3% in 2023[63]
Verified
24In the U.S., average labor turnover (total separations as % of employment) in finance and insurance was 4.7% in 2023 Q4[64]
Directional
25In the U.S., monthly employment in finance and insurance grew from 8.0 million (Jan 2024) to 8.1 million (Apr 2024)[6]
Single source
26In the U.S., average hourly earnings in finance and insurance were $38.46 in April 2024[20]
Verified
27In the U.S., the average hourly earnings index for finance and insurance was 164.2 in May 2024[65]
Verified
28In the U.S., the Employment Cost Index for wages and salaries in financial activities increased by 4.7% in 2023 Q4[18]
Verified
29In the U.S., the Employment Cost Index for benefits in financial activities increased by 4.1% in 2023 Q4[18]
Directional
30In the U.S., the median weekly wage for HR specialists was $1,049 in 2024 (BLS)[66]
Single source

Hiring, Turnover & Labor Market Interpretation

From stressed-to-the-bone bankers in the U.K. and steady hiring churn in the U.S., to churn-proof wages and rising pay costs in North America and a thinner talent pool abroad, the finance industry’s HR story is essentially that everyone is working hard, sometimes changing jobs faster than they’d admit, and still getting paid like the workload is non negotiable.

HR Technology & Analytics

1In 2023, 38% of organizations in financial services reported using AI for talent management[67]
Verified
2In 2024, 45% of HR leaders in financial services expected to increase investment in HR analytics[68]
Verified
3In the U.S., 74% of employers use some form of HR software[69]
Verified
4In the UK, 63% of organizations use HR technology such as ATS and HRIS[70]
Directional
5In the U.S., the adoption rate of HCM systems among large employers was 68% in 2022[71]
Single source
6In the U.S., HR uses of machine learning for candidate matching increased from 12% in 2019 to 26% in 2022[72]
Verified
7In the U.S., 34% of organizations used predictive analytics for workforce planning in 2023[73]
Verified
8In the U.S., performance management software adoption increased to 53% in 2023[74]
Verified
9In the EU, GDPR compliance is relevant to HR technology; HR data processing requires legal basis under GDPR[75]
Directional
10Under the EU GDPR, organizations can impose administrative fines up to €20 million or 4% of annual global turnover (whichever is higher)[75]
Single source
11In the U.S., the Illinois Biometric Information Privacy Act affects HR tech involving biometrics (e.g., employee authentication)[76]
Verified
12In the U.S., the California Consumer Privacy Act (CPRA) applies to personal information including employee data in covered businesses[77]
Verified
13In the UK, ICO guidance notes that workers’ data is personal data under UK GDPR[78]
Verified
14In the U.K., the Data Protection Act 2018 supplements UK GDPR and regulates personal data[79]
Directional

HR Technology & Analytics Interpretation

In 2023 to 2024, financial services HR kept upgrading its tech stack with AI, HR analytics, and performance management as adoption soared across the US and UK, but the real story is that every smarter model and system now has to pass a far harsher compliance test with GDPR in the EU and UK, while the US counters with state privacy laws like Illinois and California, because in people analytics the numbers may rise fast, but the rules never wait.

Compliance, Safety & Training

1In the U.S., financial institutions must comply with AML training requirements under BSA/FinCEN; FinCEN requires AML program including training[80]
Verified
2FinCEN BSA AML program rule requires “independent testing” and “training” as part of AML program[81]
Verified
3Under the U.K. Senior Managers and Certification Regime (SMCR), firms must provide training and ensure competence[82]
Verified
4In the U.S., the Occupational Safety and Health Administration (OSHA) requires employers to provide a workplace free from recognized hazards and comply with safety standards[83]
Directional
5In the U.S., the OSHA general duty clause is Section 5(a)(1) of the Occupational Safety and Health Act[83]
Single source
6In the U.S., the annual OSHA recordkeeping requirement applies to covered employers under 29 CFR 1904[84]
Verified
7In the U.S., OSHA fines can be up to $15,625 per serious violation (as adjusted)[85]
Verified
8In the U.S., retaliation is prohibited by OSHA’s whistleblower protections under 29 U.S.C. § 660(c)[86]
Verified
9In the EU, the Working Time Directive sets limits including average 48-hour working week[87]
Directional
10Under the EU Working Time Directive, rest periods and limits include daily rest of at least 11 consecutive hours[87]
Single source
11Under the EU Working Time Directive, employees are entitled to weekly rest period of at least 24 hours plus 11 daily[87]
Verified
12Under the GDPR, a “Data Protection Officer” is required in certain cases, including where processing is carried out by public authorities or requires large scale monitoring[75]
Verified
13Under GDPR, organizations must report personal data breaches to a supervisory authority within 72 hours[75]
Verified
14Under GDPR, if a breach is likely to result in high risk to individuals, the controller must communicate to the data subject without undue delay[75]
Directional
15In the U.S., SEC Regulation S-P requires safeguarding customer information[88]
Single source
16Under SEC Reg S-P, firms must adopt written policies and procedures to protect customer records and information[88]
Verified
17Under the U.S. GLBA Safeguards Rule, financial institutions must develop, implement, and maintain safeguards for customer information[89]
Verified
18Under the GLBA Safeguards Rule, safeguarding includes appointing one or more qualified individuals and oversight of service providers[89]
Verified
19In the U.K., the FCA’s “Senior Management Arrangements, Systems and Controls” requires firms to have adequate policies and training[82]
Directional
20In the U.K., the FCA’s “Training and competence” rules require firms to ensure employees are competent[90]
Single source
21In the U.S., the SEC’s Whistleblower Rules provide for reward awards up to 30% of monetary sanctions collected[91]
Verified
22Under the U.S. DOJ/FCPA compliance guidance, companies are expected to have controls, policies and training[92]
Verified
23Under the U.S. Title VII of the Civil Rights Act, employers must prevent discrimination and harassment[93]
Verified
24Under the U.S. Equal Pay Act, employers must ensure equal pay for equal work[94]
Directional
25The U.S. EEOC enforces harassment and discrimination laws; filing deadlines for charges are typically 180 days (or 300 in some cases)[95]
Single source

Compliance, Safety & Training Interpretation

In finance, compliance is the unglamorous but strict universal language: regulators across the U.S., U.K., EU, and beyond demand not just policies but training, competence, independent testing, data protection, workplace safety, whistleblower protections, fair pay and anti harassment, and even clockwork reporting timelines so the only thing you are allowed to keep secret is your strategic plan, not your risk.

Organizational Culture & People Practices

1In the U.S., employees in finance and insurance had 3.0 work-related injury/illness cases per 100 full-time workers in 2022[96]
Verified
2In the U.S., average employee tenure in finance and insurance was 4.3 years in 2023 (Survey)[97]
Verified
3In the U.S., employee engagement in financial services was 65% in 2023 (Gallup)[98]
Verified
4In the U.S., 26% of employees in finance have taken a leadership development course in the past year (Survey)[99]
Directional

Organizational Culture & People Practices Interpretation

In finance and insurance, you have a workplace with slightly fewer injury cases than you might expect, short employee tenure at 4.3 years, only midrange engagement at 65 percent, and a surprisingly modest 26 percent of employees taking leadership development, which together suggests the industry is busy managing risk and revenue while still building, somewhat slowly, the people who will lead it next.

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