Work Matters


Business, Administration and Finance

Key facts about his sector

Administrative, clerical & secretarial occupations are projected to see significant further job losses of around 400 thousand jobs to 2017. However, this sector will still employ over 3 million people. There will still be significant employment opportunities as existing staff leave or retire.

Most administration workers have a qualification at level 2, 3 or 4. 60 per cent of managers hold level 4 or 5.

More than 1.2 million people work in 34 thousand workplaces in the UK's financial services sector. 15 per cent work part-time. 6 per cent are self-employed. It has been the sector most affected by the recent banking crisis.

Future increases in employment in the financial sector are likely to be modest in comparison to recent trends. Qualifications and work experience will be essential in a more competitive job market.

Online banking has reduced the need for frontline staff. Demand for sales, customer service and marketing services is increasing.

A university degree is increasing becoming the minimum entry requirement for much of the financial service sector. A small, but rising, proportion of the workforce has a postgraduate qualification. Relevant level 3 and professional qualifications are still sought after by employers.

Growth in the insurance industry will come from pensions, investments, life insurance and long-term care plans. This is in response to an aging population.

Business services, which include accountancy and legal services, are predicted to be one of the most important sources of jobs in the future.


How much could I earn?

Figures are for those, 18 and over, working full-time in the UK. With training and career development, higher salaries can be achieved.

Position
Annual salary
Senior officials in national and local government
Financial managers and chartered secretaries
Financial institution managers
£37,437
Solicitors and lawyers, judges and coroners
Chartered and certified accountants
Management accountants
Public service administrative professionals
£32,835
Legal associate professionals
Brokers
Insurance underwriters
Finance and investment analysts/advisers
Taxation experts
Financial and accounting technicians
Estate agents and auctioneers
£27,431
Civil Service administrative officers and assistants
Local government clerical officers and assistants
Pensions and insurance clerks
Transport and distribution clerks
Library assistants
Database assistants
Market research interviewers
General office assistants
£17,021
Medical, legal, school, company secretaries
Personal assistants and other secretaries
Receptionists and typists
£14,575

The salaries shown are annual, median, gross pay rates. Gross means before tax and other deductions. The median figure is the middle salary in the range of what all people in that category of job earn.

Source: Annual Survey of Hours and Earnings 2009, O.N.S., © Crown Copyright.

Numbers employed in the West of England

Many people choose to commute (regularly travelling between home and work) to get the job they want. This will show you where most of the jobs in this sector are in the region.

Bath and North East Somerset 1,818
Bristol 20,702
North Somerset 1,419
South Gloucestershire 4,085

Annual Business Inquiry Employee Analysis 2009, O.N.S., © Crown Copyright.

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