Occupation (4222) - 2024-Q2
The workforce of Insurance Agents and Financial Services (Account Executives) during second quarter of 2024 was 236k people, whose salary averaged $7.94k MX working around 37.8 hours per week.
The average age of Insurance Agents and Financial Services (Account Executives) was 38.1 years. The workforce was distributed in 48.9% men with an average salary of $6.61k MX and, 51.1% women with average salary of $9.2k MX.
The best average salaries received by Insurance Agents and Financial Services (Account Executives) were in Nayarit ($24k MX), Tlaxcala ($14.7k MX), and Baja California Sur ($14k MX) while the workforce was larger in Estado de México (49.7k), Ciudad de México (29.7k), and Nuevo León (15.2k).
In terms of industries, the best average salaries were in Secretarial Support, Photocopying, Collection, Credit Investigation and Similar Services ($16k MX), Regulation and Promotion of Economic Developmen ($16k MX), and Regulation and Promotion of Economic Development ($16k MX), while the workforce was concentrated on Multiple Banking (189k), Financial Institutions for Economic Developmen (42.7k), and Financial Institutions for Economic Development (42.7k).
53.5% of the total informal workers correspond to women with an average salary of $5.69k MX and 46.5% to men with an average salary of $4.9k MX.
At the level of states, Colima had the highest percentage of informal workers with 47.4% corresponding to 950 from 2k workers, while the state with the lowest percentage of informal workers was Nuevo León with a 2.95% corresponding to 447 from 15.2k workers.
At second quarter of 2024, the people who worked as Insurance Agents and Financial Services (Account Executives) were 236k being a 6.63% higher than the first quarter of 2024. (221k).
In the same period, an average salary of $7.94k MX was observed, registering an increase of 14.7%, compared to the first quarter of 2024 ($6.92k MX).
The states with the highest number of Insurance Agents and Financial Services (Account Executives) during the second quarter of 2024 were Estado de México (49.7k), Ciudad de México (29.7k), and Nuevo León (15.2k)
Comparing the first quarter of 2021 and the second quarter of 2024, the main positive variations occurred in Estado de México and Jalisco with an increase of 9.02k (22.2%) and 6.48k (75.5%), respectively. On the other hand, the negative variations were accentuated in Ciudad de México and Morelos with a decrease of 7.68k (20.5%) and 2.44k (47.8%), respectively.
The states with the best average salaries for Insurance Agents and Financial Services (Account Executives) during second quarter of 2024 were Nayarit ($24k MX), Tlaxcala ($14.7k MX), and Baja California Sur ($14k MX)
Comparing the first quarter of 2021 and the second quarter of 2024, the positive salary growth was higher in Nayarit and Tlaxcala with an increase of $12.9k MX (117%) and $6.83k MX (86.7%), respectively. Por otro lado, las variaciones salariales negativas se acentuaron en Sinaloa and Zacatecas with a decrease of $11.8k MX (62.8%) and $8.22k MX (55.6%), respectively.
Average Age 2024-Q2
At second quarter of 2024, the male workforce in Insurance Agents and Financial Services (Account Executives) represented the 48.9% of the employed population and women 51.1%. The male and female workforce was higher in the age group 25 to 34 years (42.4k men and 47.1k women).
The highest average salary was $10.1k MX received by women from 25 to 34 years, while the lowest average salary was $4.22k MX received by men from 45 to 54 years.
* The data regarding salaries have low statistical precision so it should not be used as conclusions.
Average Schooling in Years (2024-Q2)
During the second quarter of 2024, male and female workforce in Insurance Agents and Financial Services (Account Executives) was concentrated in the educational segment with 16 to 18 years of schooling (65.3k men and 71.9k women).
The highest average salary was $11.4k MX received by women with 16 to 18 years of schooling, while the lowest average salary was $5.6k MX received by women with 10 to 12 years of schooling.
* The data regarding salaries have low statistical precision so it should not be used as conclusions.
The visualization shows the distribution of Insurance Agents and Financial Services (Account Executives) in different industries and economic sectors.
At second quarter of 2024, the workforce was higher in Multiple Banking (61.9%), Financial Institutions for Economic Developmen (14%), and Financial Institutions for Economic Development (14%).
In the same period, the best average salaries were received in Secretarial Support, Photocopying, Collection, Credit Investigation and Similar Services ($16k MX), Regulation and Promotion of Economic Developmen ($16k MX), and Regulation and Promotion of Economic Development ($16k MX).
Labor Informality 2024-Q2
During the second quarter of 2024, the labor informality of Insurance Agents and Financial Services (Account Executives) reached a 18%, which implied a decrease from 0.25 percentage points compared to the first quarter of 2024 (18.3%).
The labor informality of this occupation was lower than informality at the country level in 36.3 percentage points during the second quarter of 2024.
Greater Labor Informality: 47.4%, Colima
Less Labor Informality: 2.95 %, Nuevo León
At second quarter of 2024, the states with the highest rate of labor informality in Insurance Agents and Financial Services (Account Executives) were Colima (47.4%), Oaxaca (42.2%), and Aguascalientes (39.2%).
The states with the lowest informality rate were Sinaloa (8.25%), Quintana Roo (5.87%), and Nuevo León (2.95%).
The workforce of Insurance Agents and Financial Services (Account Executives) during the second quarter of 2024 was higher in the age group with 25 to 34 years concentrating 89.5k workers of which 89.5% corresponds to formal employment (80.2k) and 10.5% to informal employment (9.36k).
Regarding the schooling years, the workforce was higher in the range with 16 to 18 years of schooling concentrating 137k workers of which 84.8% corresponds to formal employment (116k) and 15.2% corresponds to informal employment (20.9k).