Salary trends of selected occupations in the financial sectors: 2003-2011
by Shuming Bai
International Journal of Services and Standards (IJSS), Vol. 8, No. 2, 2012

Abstract: The paper examines the salary trends and behaviour of 22 occupations in the three-digit NAICS sectors of finance, insurance, and real estate sectors from 2003 to 2011. Overall, the mean wages of the same occupations within each sector are statistically significant different from those across sectors over this period. However, the rate of salary changes in the different job categories can be quite diverse. For example, salaries in the insurance sector are more predictable than others. Salaries that are based heavily on commissions, such as those in the real estate sector, tend to fluctuate more with economic cycles. Interestingly, jobs in the investment industry consistently show the greatest gain during the decade. Finally, the largest salary growth in real dollars as well as in percentage is in the categories that are normally classified as management and the smallest changes are in those occupations that are typically classified as staff positions.

Online publication date: Sat, 27-Dec-2014

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