Diversity in the Insurance and Finance Industry Workforce

Transcription

1 Diversity in the Insurance and Finance Industry Workforce DBP RESEARCH REQUEST: AXA 1

2 Representation: Diversity in the Industry 2018 DBP INCLUSION INDEX

3 Finance and Insurance Sector Position held % Male % Female % White % Non-White % Black % Hispanic % Asian All sector jobs 42% 58% 69% 31% 13% 9% 8% Executive/senior level officials & 70% 30% 88% 12% 3% 3% 5% managers First/mid-level officials & managers 52% 48% 78% 22% 7% 6% 8% Professionals 48% 52% 72% 28% 9% 6% 11% Technicians 54% 46% 65% 35% 11% 6% 15% Sales 61% 39% 75% 25% 8% 11% 4% Office & clerical 25% 75% 59% 41% 20% 13% 5% Craft 85% 15% 76% 24% 8% 10% 2% Operatives 58% 42% 58% 42% 18% 11% 10% Laborers 72% 28% 71% 29% 11% 13% 2% Service workers 57% 43% 66% 34% 16% 12% 3%

4 Insurance Carriers Position held % Male % Female % White % Non-White % Black % Hispanic % Asian All sector jobs 36% 64% 70% 30% 14% 8% 6% Executive/senior level officials & 67% 33% 88% 12% 3% 3% 4% managers First/mid-level officials & managers 48% 52% 80% 20% 8% 5% 6% Professionals 41% 59% 75% 25% 10% 6% 7% Technicians 38% 62% 67% 33% 15% 7% 9% Sales 52% 48% 68% 32% 11% 14% 4% Office & clerical 21% 79% 58% 42% 22% 12% 4% Craft 80% 20% 72% 28% 10% 11% 2% Operatives 50% 50% 57% 43% 20% 18% 4% Laborers 59% 41% 66% 34% 13% 11% 4% Service workers 47% 53% 69% 31% 16% 9% 4%

5 Insurance Agencies & Brokerages Position held % Male % Female % White % Non-White % Black % Hispanic % Asian All sector jobs 34% 66% 70% 30% 13% 9% 5% Executive/senior level officials & 71% 29% 91% 9% 2% 3% 3% managers First/mid-level officials & managers 44% 56% 79% 21% 7% 6% 5% Professionals 35% 65% 74% 26% 10% 7% 7% Technicians 57% 43% 64% 36% 10% 10% 12% Sales 63% 37% 81% 19% 6% 8% 3% Office & clerical 20% 80% 60% 40% 21% 12% 3% Craft 57% 43% 70% 30% 10% 13% 2% Operatives 91% 9% 51% 49% 26% 10% 5% Laborers 83% 17% 83% 17% 5% 9% 1% Service workers 53% 47% 60% 40% 12% 20% 4%

6 Insurance & Employee Benefits Funds Position held % Male % Female % White % Non-White % Black % Hispanic % Asian All sector jobs 36% 64% 63% 37% 17% 11% 6% Executive/senior level officials & 66% 34% 83% 17% 6% 4% 5% managers First/mid-level officials & managers 43% 57% 75% 25% 10% 7% 6% Professionals 44% 56% 72% 28% 10% 6% 10% Technicians 45% 55% 55% 45% 6% 9% 5% Sales 72% 28% 83% 17% 4% 8% 1% Office & clerical 24% 76% 53% 47% 25% 15% 5% Craft 67% 33% 78% 22% 0% 0% 0% Operatives 74% 26% 32% 68% 60% 4% 0% Service workers 58% 42% 28% 72% 31% 32% 0%

7 Investment Advice Position held % Male % Female % White % Non-White % Black % Hispanic % Asian All sector jobs 55% 45% 77% 23% 6% 6% 10% Executive/senior level officials & 79% 21% 90% 10% 2% 2% 6% managers First/mid-level officials & managers 60% 40% 84% 16% 3% 3% 8% Professionals 61% 39% 76% 24% 4% 4% 14% Technicians 79% 21% 65% 35% 9% 5% 19% Sales 80% 20% 90% 10% 3% 3% 3% Office & clerical 31% 69% 70% 30% 11% 12% 5% Craft 100% 0% 33% 67% 67% 33% 16% Operatives 56% 44% 78% 22% 11% 11% 0% Laborers 100% 0% 75% 25% 0% 25% 0% Service workers 62% 38% 57% 43% 9% 20% 12%

8 Investment Banking and Securities Position held % Male % Female % White % Non-white % Black % Hispanic % Asian All sector jobs 65% 35% 65% 35% 7% 7% 20% Executive/senior level officials & managers 83% 17% 85% 15% 2% 3% 8% First/mid-level officials & managers 69% 31% 70% 30% 4% 5% 19% Professionals 67% 33% 60% 40% 6% 7% 25% Technicians 73% 27% 56% 44% 7% 10% 25% Sales 81% 19% 81% 19% 2% 4% 11% Office & clerical 30% 70% 58% 42% 16% 14% 9% Craft 62% 38% 78% 22% 20% 2% 0% Operatives 94% 6% 77% 23% 6% 6% 12% Laborers 75% 25% 25% 75% 17% 58% 0% Service workers 72% 28% 54% 46% 23% 16% 8%

9 Diversity in Insurance Industry Workforce 2017 Bureau of Labor Statistics - Insurance Industry Demographics by Occupation Insurance Industry Sector Male Female White Non-White Black Asian Hispanic Insurance sales agents 48% 52% 81% 19% 10% 6% 12% Insurance underwriters 36% 64% 86% 14% 9% 5% 8% Insurance claims & policy processing clerks 16% 84% 71% 29% 20% 5% 15% Compliance officers 42% 58% 80% 20% 12% 6% 9% Actuaries NA NA NA NA NA NA NA Note: No BLS demographic data available for occupational category actuaries Source: DOL,BLS

10 Diversity in Financial Industry Workforce 2017 Bureau of Labor Statistics - Financial Services Industry Demographics by Occupation Financial Sector Male Female White Non-White Black Asian Hispanic Finance and Insurance 44% 56% 79% 21% 10% 8% 11% Securities, commodities and financial services sales agents 66% 34% 86% 14% 6% 5% 10% Financial managers 44% 56% 84% 16% 7% 8% 11% Securities, commodities, funds, trusts, investments 62% 38% 83% 17% 5% 9% 8% Personal financial advisors 68% 32% 87% 13% 5% 7% 8% Financial analysts 63% 37% 76% 24% 9% 13% 7% Source: DOL,BLS

11 Diversity in Related Occupations 2017 Bureau of Labor Statistics Other Occupations of Interest Demographics by Occupation Professional Services Male Female White Non-White Black Asian Hispanic Marketing and sales managers 55% 45% 86% 14% 6% 6% 10% Sales and related occupations 51% 49% 80% 20% 11% 6% 16% Mathematicians 48% 52% 71% 29% 12% 15% 7% Statisticians 51% 49% 63% 37% 9% 22% 6% Note: Occupations relate to all industries, not specifically insurance and/or finance but provide useful snapshot of overall demographic representation Source: DOL,BLS