Financial Brokers operate as independent agents to facilitate the trading of commodities and arrange insurance and loans of money on behalf of clients.
monitoring commodity prices, trends and other factors affecting the supply and demand for commodities
negotiating the purchase and sale of commodities such as grains, wool, minerals and metals
determining the specific financial and insurance requirements of clients, and researching and reviewing available finance and insurance products for suitability to meet clients' requirements
analysing clients' financial status, discussing financial options and developing financial strategies
recommending loan combinations that meet clients' needs
interviewing prospective clients to explain insurance policy conditions, risks covered, premium rates and benefits, and to make recommendations on the amount and type of cover
arranging insurance, home loan mortgages and other types of finance for clients through banks, lenders, financiers and insurance companies
preparing documents which set out the conditions of finance, repayments and loan periods
identifying and advising on significant risk changes to clients' insurance
broking complex and commercial leases, equipment finance, commercial finance, project finance and finance for property developers
Vocational Education and Training (VET)
Informal or on-the-job
The NSC produces employment projections to show where likely future job opportunities may be. The latest data are for the five years from November 2021 to November 2026. Over this period, the number of workers:
- is expected to grow strongly
- is likely to reach 48,000 by 2026.
Source: National Skills Commission Employment Projections to 2026.
Notes: The number employed includes people who work in this occupation as their main job. People who work in more than one job are counted against the occupation they work the most hours in.
Employment projections figures are rounded to the nearest 100. Calculations based on these rounded figures may result in differences to the numbers that are displayed on this page. Employment projections data (including occupations) can be downloaded from the Employment Projections page.
Number of Workers
Source: ABS Labour Force Survey, ABS seasonally adjusted data to November 2021 and National Skills Commission Employment Projections to 2026.
Earnings and hours
Around 83% of people employed as Financial Brokers work full-time hours, in all their jobs combined. This is 17 percentage points above the all jobs average (66%).
Full-time workers work an average of 46 hours per week in their main job. This is similar to the all jobs average (44 hours per week).
More than a third of workers regularly work overtime or extra hours (either paid or unpaid).
Median full-time earnings are $2,622 per week, this is much higher than the all jobs median ($1,593):
- 3 in 4 workers earn more than $1,442
- 1 in 4 earn more than $3,464
Median hourly earnings are $70, this is much more than the all jobs median ($41 per hour).
Sources: Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average. Overtime hours: ABS, Characteristics of Employment, 2021. Full-time median earnings and median hourly earnings: ABS, Survey of Employee Earnings and Hours, May 2021. Compared to all jobs median.
Weekly Earnings (Before Tax)
|Earnings||Financial Brokers||All Jobs Average|
Source: Based on ABS Survey of Employee Earnings and Hours, May 2021, Customised Report. Median weekly total cash earnings for full-time non-managerial employees paid at the adult rate. Earnings are before tax and include amounts salary sacrificed. Earnings can vary greatly depending on the skills and experience of the worker and the demands of the role. These figures should be used as a guide only, not to determine a wage rate.
Most Financial Brokers work in the Financial and insurance services industry.
Source: ABS Labour Force Survey, annual average 2021.
Employment across Australia
Employment by State and Territory (% Share)
|State||Financial Brokers||All Jobs Average|
Around 73% of Financial Brokers live in capital cities, compared with the all jobs average of 62%.
Source: Based on ABS Census 2016, Customised Report. Share of workers across Australian states, territories and regions, in this job compared to the all jobs average.
Age and gender
The median age of Financial Brokers is 43 years. This is higher than the all jobs average of 40 years.
A large share of workers are aged 35 to 44 years.
Females make up 34% of the workforce. This is 14 percentage points below the all jobs average of 48%.
Source: Based on ABS Census 2016, Customised Report. Age profile and gender share compared to the all jobs average.
Age Profile (% Share)
|Age Bracket||Financial Brokers||All Jobs Average|
|65 and Over||5.5||4.2|
Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Education, training and experience
A formal qualification in commerce, accounting, finance, economics or actuarial studies is usually needed to work as a Financial Broker. Vocational Education and Training (VET) and university are both common study pathways.
Registration or licencing may be required.
- Course Seeker to search and compare higher education courses.
- ComparED to compare undergraduate and postgraduate student experiences and outcomes.
- My Skills to compare Vocational Education and Training (VET) courses, providers and student outcomes.
- AAPathways website to explore Financial Services VET training pathways.
Highest Level of Education (% Share)
|Type of Qualification||Financial Brokers||All Jobs Average|
|Post Graduate/Graduate Diploma or Graduate Certificate||10.0||10.1|
|Year 10 and below||3.6||12.5|
Source: ABS Census 2016, Customised Report. Highest qualification completed by workers in this job (in any field of study). Qualifications needed by new workers might be different from the qualifications of workers already in the job.
Skills and Knowledge
Employers look for Financial Brokers who provide good customer service and who have strong interpersonal skills.
Skills can be improved through training or experience.
Listening to others, not interrupting, and asking good questions.
Thinking about the pros and cons of different ways to solve a problem.
Reading work related information.
Talking to others.
55%Judgment and decision making
Figuring out the pros and cons of different options and choosing the best one.
Looking for ways to help people.
Writing things for co-workers or customers.
Using maths to solve problems.
46%Complex problem solving
Noticing a problem and figuring out the best way to solve it.
Being able to use what you have learnt to solve problems now and again in the future.
Keeping track of how well work is progressing so you can make changes or improvements.
Bringing people together and trying to sort out their differences.
Talking people into changing their minds or their behaviour.
Understanding why people react the way they do.
43%Coordination with others
Being adaptable and coordinating work with other people.
Teaching people how to do something.
Managing your own and other peoples' time to get work done.
39%Management of personnel resources
Motivating, developing, and directing people as they work, and choosing the best people for the job.
Figuring out the best way to teach or learn something new.
Figuring out how a system should work and how changes in conditions, operations, and the environment will affect it.
These are important topics, subjects or knowledge areas.
78%Customer and personal service
Understanding customer needs, providing good quality service, and measuring customer satisfaction.
63%Sales and marketing
Showing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.
Arithmetic, algebra, geometry, calculus, or statistics.
English language including the meaning and spelling of words, rules of composition, and grammar.
Word processing, managing files and records, stenography and transcription, designing forms, and other office work.
57%Economics and accounting
Economics and accounting, the financial markets, banking and checking and reporting of financial data.
56%Law and government
How our laws and courts work. Government rules and regulations, and the political system.
54%Computers and electronics
Circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
49%Administration and management
Business principles involved in strategic planning, leadership, and coordinating people and resources.
44%Education and training
Curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
40%Personnel and human resources
Recruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.
Human behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.
31%Communications and media
Media production, communication, and dissemination. Includes written, spoken, and visual media.
24%Production and processing
Raw materials, production processes, quality control, costs, and ways of making and distributing goods.
Foreign (non-English) language including the meaning and spelling of words, rules of composition and grammar, and pronunciation.
Describing land, sea, and air, including their physical characteristics, locations, how they work together, and the location of plant, animal, and human life.
14%Public safety and security
Use of equipment, rules and ideas to protect people, data, property, and institutions.
14%Sociology and anthropology
Group behaviour and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.
Transmission, broadcasting, switching, control, and operation of telecommunications systems.
12%Building and construction
Materials, and methods used to construct or repair houses, buildings, or other structures like highways and roads.
Workers use these physical and mental abilities..
See details that are up-close (within a few feet).
Communicate by speaking.
Listen to and understand what people say.
Read and understand written information.
Write in a way that people can understand.
Use general rules to find answers or solve problems logically.
Use lots of detailed information to come up with answers or make general rules.
Identify and understand the speech of another person.
50%Working with numbers
Add, subtract, multiply, or divide.
Notice when something is wrong or is likely to go wrong, even if you can't solve the problem.
Speak clearly so others can understand you.
Choose the right maths method or formula to solve a problem.
46%Sorting or ordering
Order or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).
Come up with different ways of grouping things.
34%Flexibility of closure
See a pattern (a figure, object, word, or sound) hidden in other distracting material.
Come up with a number of ideas about a topic, even if the ideas aren't very good.
Pay attention to something without being distracted.
Remember things like words, numbers, pictures, and procedures.
Do two or more things at the same time.
Put together small parts with your fingers.
These are kinds of activities workers regularly do in this job.
72%Building good relationships
Building good working relationships and keeping them over time.
68%Planning and prioritising work
Deciding on goals and putting together a detailed plan to get the work done.
66%Keeping your knowledge up-to-date
Keeping up-to-date with technology and new ideas.
66%Researching and investigating
Looking for, getting and understanding different kinds of information.
62%Making decisions and solving problems
Using information to work out the best solution and solve problems.
62%Working with the public
Greeting or serving customers, clients or guests, and public speaking or performing.
58%Negotiating and resolving conflicts
Handling complaints and disagreements, and negotiating with people.
58%Communicating with the public
Giving information to the public, business or government by telephone, in writing, or in person.
58%Collecting and organising information
Compiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.
57%Giving expert advice
Providing guidance and expert advice to management or other groups.
56%Communicating within a team
Giving information to co-workers by telephone, in writing, or in person.
55%Making sense of information and ideas
Looking at, working with, and understanding data or information.
55%Providing office support
Doing day-to-day office work such as filing and processing paperwork.
53%Checking compliance with standards
Deciding whether events or processes comply with laws, regulations, or standards.
Convincing people to buy something or to change their minds or actions.
51%Scheduling work and activities
Working out the timing of events, programs, and activities, as well as the work of others.
45%Working with computers
Using computers to program, write software, set up functions, enter data, or process information.
45%Looking for changes over time
Comparing objects, actions, or events. Looking for differences between them or changes over time.
44%Documenting or recording information
Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
42%Explaining things to people
Helping people to understand and use information.
Interests and demands
Learn about the daily activities, and physical and social demands faced by workers. Explore the values and work styles that workers rate as most important.
Interests are the style or type of work we prefer to do. All interest areas are shown below.
Following set procedures and routines. Working with numbers and details more than with ideas, usually following rules.
Starting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.
Working with people. Helping or providing service to others.
Ideas and thinking. Searching for facts and figuring out problems in your head.
Working with forms, designs and patterns. Often need self-expression and can be done without following rules.
Practical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.
Serve and work with others. Workers usually get along well with each other, do things to help other people, and are rarely pressured to do things that go against their sense of right and wrong.
Work alone and make decisions. Workers are able to try out their own ideas, make decisions on their own, and work with little or no supervision.
Supportive management that stands behind employees. Workers are treated fairly by their company, they are supported by management, and have supervisors who train them well.
Results oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.
Advancement and the potential to lead. Workers are recognised for the work that they do, they may give directions and instructions to others, and they are looked up to in their company and their community.
Job security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.
Talk on the telephone.
95%Contact with people
Have contact with people by telephone, face-to-face, or any other way.
93%Freedom to make decisions
Have freedom to make decision on your own.
92%Spend time sitting
Spend time sitting at work.
92%Being exact or accurate
Be very exact or highly accurate.
92%Frequent decision making
Frequently make decisions that impact other people.
Use electronic mail.
Talk with people face-to-face.
88%Impact of decisions
Make decisions that have a large impact on other people.
87%Letters and memos
Write letters and memos.
Have freedom to decide on tasks, priorities, and goals.
Work with people in a group or team.
83%Indoors, heat controlled
Work indoors with access to heating or cooling.
83%Contact with the public
Work with customers or the public.
82%Repeating same tasks
Repeat the same tasks or activities (e.g., key entry) over and over, without stopping.
Work to strict deadlines.
Compete with others, or be aware of competitive pressures.
65%Lead or coordinate a team
Lead others to do work activities.
63%Automation of tasks
Do tasks that are mostly automated.
63%Consequence of error
Work where mistakes have serious consequences.
O*NET is a trademark of the U.S. Department of Labor, Employment and Training Administration.
The skills and importance ratings on this page are derived from the US Department of Labor O*NET Database Version 21.2, 13-2072.00 - Loan Officers.