Financial Investment Advisers
Overview
Snapshot
Summary
Financial Investment Advisers develop and implement financial plans for individuals or organisations, and advise on investment strategies and their taxation implications, securities, insurance, pension plans and real estate.
Tasks
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Interviews prospective clients to determine financial status and objectives, discusses financial options and develops financial plans and investment strategies.
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Monitors investment performance, and reviews and revises investment plans based on modified needs and changes in markets.
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Recommends and arranges insurance cover for clients.
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Arranges to buy and sell stocks and bonds for clients.
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Advises on investment strategies, sources of funds and the distribution of earnings.
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Sets financial objectives, and develops and implements strategies for achieving the financial objectives.
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Manages funds raised from personal superannuation savings policies and unit trusts.
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May refer clients to other organisations to obtain services outlined in financial plans.
Characteristics
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University
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Vocational Education and Training (VET)
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Administrative
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Enterprising
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Sedentary
Outlook
JSA produces employment projections to show where likely future job opportunities may be. Employment projections data are only produced for occupations at the broad four digit Australian and New Zealand Standard Classification of Occupations (ANZSCO) level. While data are not available for this occupation, projections data are available for the parent occupation, Financial Investment Advisers and Managers, under the outlook section.
Earnings and hours
Working arrangements
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Around 85% of people employed as Financial Investment Advisers work full-time hours, in all their jobs combined. This is 19 percentage points above the all jobs average (66%).
Full-time workers work an average of 44 hours per week in their main job. This is the same as the all jobs average.
Sources:Full-time share and full-time hours: ABS, 2016 Census, customised report. Compared to the all jobs average.
Industries
Main industries
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Most Financial Investment Advisers work in the Financial and insurance services industry. They are also employed in industries like:
- Professional, scientific and technical services
- Rental, hiring and real estate services
- Public administration and safety.
Source: Based on ABS Census 2016, Customised Report.
Regions
Employment across Australia
NSW
VIC
QLD
SA
WA
TAS
NT
ACT
Employment by State and Territory (% Share)
State | Financial Investment Advisers | All Jobs Average |
---|---|---|
NSW | 33.5 | 31.6 |
VIC | 29.5 | 25.6 |
QLD | 18.0 | 20.0 |
SA | 6.6 | 7.0 |
WA | 9.1 | 10.8 |
TAS | 1.5 | 2.0 |
NT | 0.3 | 1.0 |
ACT | 1.5 | 1.9 |
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Around 76% of Financial Investment Advisers live in capital cities, compared with the all jobs average of 62%.
Victoria has a large share of employment relative to its population size.
The regions with the largest share of workers are:
- Melbourne - Inner
- Sydney - North Sydney and Hornsby
- Melbourne - Inner South
- Melbourne - Inner East
- Sydney - Eastern Suburbs.
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.
Worker profile
Age and gender
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The median age of Financial Investment Advisers is 41 years. This is similar to the all jobs average of 40 years.
A large share of workers are aged 35 to 44 years.
Females make up 31% of the workforce. This is 17 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 Investment Advisers | All Jobs Average |
---|---|---|
15-19 | 0.1 | 5.0 |
20-24 | 4.4 | 9.3 |
25-34 | 26.1 | 22.9 |
35-44 | 28.2 | 22.0 |
45-54 | 22.3 | 21.6 |
55-59 | 8.2 | 9.0 |
60-64 | 5.6 | 6.0 |
65 and Over | 5.1 | 4.2 |
Median Age | 41 | 40 |
Source: Based on ABS Census 2016, Customised Report. Age profile of workers in this job compared to the all jobs average.
Employment Pathways
Education, training and experience
A formal qualification in finance, accounting, commerce or economics is usually needed to work as a Financial Investment Adviser. Vocational Education and Training (VET) and university are both common study pathways.
Registration with the Australian Security and Investments Commission is required.
Visit
- 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 Investment Advisers | All Jobs Average |
---|---|---|
Post Graduate/Graduate Diploma or Graduate Certificate | 19.7 | 10.1 |
Bachelor degree | 41.5 | 21.8 |
Advanced Diploma/Diploma | 28.1 | 11.6 |
Certificate III/IV | 2.4 | 21.1 |
Year 12 | 6.4 | 18.1 |
Year 11 | 0.9 | 4.8 |
Year 10 and below | 1.0 | 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 Investment Advisers and Managers who can communicate clearly, work well in a team and have strong interpersonal skills.
Skills
Skills can be improved through training or experience.
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61%
Reading comprehensionReading work related information.
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59%
SpeakingTalking to others.
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57%
Active listeningListening to others, not interrupting, and asking good questions.
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57%
Critical thinkingThinking about the pros and cons of different ways to solve a problem.
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57%
MonitoringKeeping track of how well work is progressing so you can make changes or improvements.
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55%
WritingWriting things for co-workers or customers.
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54%
Judgment and decision makingFiguring out the pros and cons of different options and choosing the best one.
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54%
Serving othersLooking for ways to help people.
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54%
MathematicsUsing maths to solve problems.
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52%
PersuasionTalking people into changing their minds or their behaviour.
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50%
Complex problem solvingNoticing a problem and figuring out the best way to solve it.
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48%
Active learningBeing able to use what you have learnt to solve problems now and again in the future.
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48%
Social perceptivenessUnderstanding why people react the way they do.
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48%
Systems analysisFiguring out how a system should work and how changes in conditions, operations, and the environment will affect it.
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48%
Systems evaluationMeasuring how well a system is working and how to improve it.
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46%
Management of financial resourcesFiguring out how money is needed to do something, and keeping track of the money that's being spent.
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45%
InstructingTeaching people how to do something.
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45%
Operations analysisUnderstanding needs and product requirements to create a design.
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41%
Coordination with othersBeing adaptable and coordinating work with other people.
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41%
Time managementManaging your own and other peoples' time to get work done.
Knowledge
These are important topics, subjects or knowledge areas.
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73%
Customer and personal serviceUnderstanding customer needs, providing good quality service, and measuring customer satisfaction.
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69%
Economics and accountingEconomics and accounting, the financial markets, banking and checking and reporting of financial data.
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67%
MathematicsArithmetic, algebra, geometry, calculus, or statistics.
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67%
Sales and marketingShowing, promoting, and selling including marketing strategy, product demonstration, sales techniques, and sales control systems.
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63%
Administration and managementBusiness principles involved in strategic planning, leadership, and coordinating people and resources.
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63%
ClericalWord processing, managing files and records, stenography and transcription, designing forms, and other office work.
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61%
Education and trainingCurriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
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60%
English languageEnglish language including the meaning and spelling of words, rules of composition, and grammar.
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59%
Computers and electronicsCircuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.
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54%
PsychologyHuman behaviour; differences in ability, personality, and interests; learning and motivation; research methods; assessing and treating disorders.
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54%
Law and governmentHow our laws and courts work. Government rules and regulations, and the political system.
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51%
Personnel and human resourcesRecruiting and training people, managing pay and other entitlements (like sick leave), and negotiating pay and conditions.
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42%
Therapy and counsellingDiagnosis, treatment, and rehabilitation of physical and mental dysfunctions, and career counselling and guidance.
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36%
Communications and mediaMedia production, communication, and dissemination. Includes written, spoken, and visual media.
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35%
Philosophy and theologyPhilosophical systems and religions, including their basic principles, values, ethics, ways of thinking, customs, practices, and impact on society.
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34%
Production and processingRaw materials, production processes, quality control, costs, and ways of making and distributing goods.
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33%
Sociology and anthropologyGroup behaviour and dynamics, societal trends and influences, human migrations, ethnicity, cultures and their history and origins.
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24%
History and archeologyEvents of the past, their causes, how we learn about them, and how they influence the way we live today.
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21%
TelecommunicationsTransmission, broadcasting, switching, control, and operation of telecommunications systems.
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20%
Public safety and securityUse of equipment, rules and ideas to protect people, data, property, and institutions.
Abilities
Workers use these physical and mental abilities..
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66%
Oral expressionCommunicate by speaking.
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64%
Deductive reasoningUse general rules to find answers or solve problems logically.
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64%
Working with numbersAdd, subtract, multiply, or divide.
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61%
Written expressionWrite in a way that people can understand.
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59%
Oral comprehensionListen to and understand what people say.
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59%
Written comprehensionRead and understand written information.
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59%
Near visionSee details that are up-close (within a few feet).
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57%
Problem spottingNotice when something is wrong or is likely to go wrong, even if you can't solve the problem.
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55%
Inductive reasoningUse lots of detailed information to come up with answers or make general rules.
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55%
Speech recognitionIdentify and understand the speech of another person.
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54%
MathematicsChoose the right maths method or formula to solve a problem.
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52%
Speech claritySpeak clearly so others can understand you.
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48%
BrainstormingCome up with a number of ideas about a topic, even if the ideas aren't very good.
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46%
CategorisingCome up with different ways of grouping things.
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46%
Sorting or orderingOrder or arrange things in a pattern or sequence (e.g., numbers, letters, words, pictures, mathematical operations).
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43%
OriginalityCome up with unusual or clever ideas, or creative ways to solve a problem.
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37%
Perceptual speedUse your eyes to quickly compare groups of letters, numbers, pictures, or other things.
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36%
Flexibility of closureSee a pattern (a figure, object, word, or sound) hidden in other distracting material.
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36%
Selective attentionPay attention to something without being distracted.
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36%
Speed of recognitionQuickly make sense of and organize things you can see like letters, numbers, pictures, or other things.
Activities
These are kinds of activities workers regularly do in this job.
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85%
Making decisions and solving problemsUsing information to work out the best solution and solve problems.
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79%
Making sense of information and ideasLooking at, working with, and understanding data or information.
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78%
Coming up with systems and processesDeciding on goals and figuring out what you need to do to achieve them.
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75%
Building good relationshipsBuilding good working relationships and keeping them over time.
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75%
Keeping your knowledge up-to-dateKeeping up-to-date with technology and new ideas.
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74%
Planning and prioritising workDeciding on goals and putting together a detailed plan to get the work done.
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73%
Researching and investigatingLooking for, getting and understanding different kinds of information.
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72%
Checking compliance with standardsDeciding whether events or processes comply with laws, regulations, or standards.
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72%
Giving expert adviceProviding guidance and expert advice to management or other groups.
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70%
Collecting and organising informationCompiling, coding, categorizing, calculating, tabulating, auditing, or checking information or data.
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70%
Communicating with the publicGiving information to the public, business or government by telephone, in writing, or in person.
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68%
Looking for changes over timeComparing objects, actions, or events. Looking for differences between them or changes over time.
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64%
Thinking creativelyUsing your own ideas for developing, designing, or creating something new.
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64%
Communicating within a teamGiving information to co-workers by telephone, in writing, or in person.
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64%
Influencing peopleConvincing people to buy something or to change their minds or actions.
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61%
Assessing and evaluating thingsWorking out the value, importance, or quality of things, services or people.
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61%
Working with the publicGreeting or serving customers, clients or guests, and public speaking or performing.
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58%
Explaining things to peopleHelping people to understand and use information.
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50%
Working with computersUsing computers to program, write software, set up functions, enter data, or process information.
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50%
Documenting or recording informationEntering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
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
Interests are the style or type of work we prefer to do. All interest areas are shown below.
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95%
EnterprisingStarting up and carrying out projects. Leading people and making many decisions. Sometimes require risk taking and often deal with business.
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81%
AdministrativeFollowing set procedures and routines. Working with numbers and details more than with ideas, usually following rules.
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52%
HelpingWorking with people. Helping or providing service to others.
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43%
AnalyticalIdeas and thinking. Searching for facts and figuring out problems in your head.
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19%
CreativeWorking with forms, designs and patterns. Often need self-expression and can be done without following rules.
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14%
PracticalPractical, hands-on work. Often with plants and animals, or materials like wood, tools, and machinery.
Values
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76%
IndependenceWork 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.
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71%
AchievementResults oriented. Workers are able to use their strongest abilities, giving them a feeling of accomplishment.
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67%
RecognitionAdvancement 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.
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67%
Working conditionsJob security and good working conditions. There is usually a steady flow of interesting work, and the pay and conditions are generally good.
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62%
RelationshipsServe 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.
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52%
SupportSupportive management that stands behind employees. Workers are treated fairly by their company, they are supported by management, and have supervisors who train them well.
Demands
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95%
Electronic mailUse electronic mail.
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95%
Indoors, heat controlledWork indoors with access to heating or cooling.
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93%
TelephoneTalk on the telephone.
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91%
Spend time sittingSpend time sitting at work.
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88%
Contact with peopleHave contact with people by telephone, face-to-face, or any other way.
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86%
Being exact or accurateBe very exact or highly accurate.
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86%
Frequent decision makingFrequently make decisions that impact other people.
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85%
Face-to-face discussionsTalk with people face-to-face.
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83%
Impact of decisionsMake decisions that have a large impact on other people.
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82%
CompetitionCompete with others, or be aware of competitive pressures.
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80%
Contact with the publicWork with customers or the public.
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79%
Time pressureWork to strict deadlines.
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78%
Unstructured workHave freedom to decide on tasks, priorities, and goals.
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76%
Freedom to make decisionsHave freedom to make decision on your own.
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76%
Letters and memosWrite letters and memos.
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74%
TeamworkWork with people in a group or team.
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65%
Repeating same tasksRepeat the same tasks or activities (e.g., key entry) over and over, without stopping.
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65%
Lead or coordinate a teamLead others to do work activities.
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65%
Responsible for outcomesTake responsibility for the results of other people's work.
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63%
Consequence of errorWork 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, 13-2052.00 - Personal Financial Advisors.
Links and downloads
Research and reports
The Skills Priority List provides a current labour market rating and a future demand rating for nearly 800 occupations nationally. Current labour market ratings are available for occupations at a state and territory level.
Downloads
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Occupation profiles data are available for download.
The Employment Projections are available for download.