Occupation (4222) - 2024-Q3
The workforce of Insurance Agents and Financial Services (Account Executives) during third quarter of 2024 was 200k people, whose salary averaged $7.52k MX working around 42.2 hours per week.
The average age of Insurance Agents and Financial Services (Account Executives) was 36.9 years. The workforce was distributed in 44.6% men with an average salary of $7.57k MX and, 55.4% women with average salary of $7.47k MX.
The best average salaries received by Insurance Agents and Financial Services (Account Executives) were in Tamaulipas ($18.6k MX), Nayarit ($16.1k MX), and Quintana Roo ($15.3k MX) while the workforce was larger in Ciudad de México (28.6k), Estado de México (25.7k), and Nuevo León (13.6k).
In terms of industries, the best average salaries were in Nonmetallic Ore Mining ($24k MX), Natural Gas Supply through Mains to Final Consumers ($18k MX), and Credit Unions and Saving Institutions ($15k MX), while the workforce was concentrated on Multiple Banking (127k), Financial Institutions for Economic Developmen (38.6k), and Financial Institutions for Economic Development (38.6k).
54.9% of the total informal workers correspond to women with an average salary of $7.22k MX and 45.1% to men with an average salary of $8.88k MX.
At the level of states, Guerrero had the highest percentage of informal workers with 46.4% corresponding to 1.03k from 2.23k workers, while the state with the lowest percentage of informal workers was Quintana Roo with a 6.69% corresponding to 161 from 2.41k workers.
At third quarter of 2024, the people who worked as Insurance Agents and Financial Services (Account Executives) were 200k being a 15.3% lower than the second quarter of 2024. (236k).
In the same period, an average salary of $7.52k MX was observed, registering a drop of 5.27%, compared to the second quarter of 2024 ($7.94k MX).
The states with the highest number of Insurance Agents and Financial Services (Account Executives) during the third quarter of 2024 were Ciudad de México (28.6k), Estado de México (25.7k), and Nuevo León (13.6k)
Comparing the first quarter of 2021 and the third quarter of 2024, the main positive variations occurred in Michoacán de Ocampo and Puebla with an increase of 3.51k (36.2%) and 1.41k (17.2%), respectively. On the other hand, the negative variations were accentuated in Estado de México and Veracruz de Ignacio de la Llave with a decrease of 24k (48.4%) and 4.39k (46.7%), respectively.
The states with the best average salaries for Insurance Agents and Financial Services (Account Executives) during third quarter of 2024 were Tamaulipas ($18.6k MX), Nayarit ($16.1k MX), and Quintana Roo ($15.3k MX)
Comparing the first quarter of 2021 and the third quarter of 2024, the positive salary growth was higher in Tamaulipas and Nuevo León with an increase of $9.84k MX (112%) and $7.53k MX (136%), respectively. Por otro lado, las variaciones salariales negativas se acentuaron en Tlaxcala and Nayarit with a decrease of $11.8k MX (80.3%) and $7.96k MX (33.1%), respectively.
Average Age 2024-Q3
At third quarter of 2024, the male workforce in Insurance Agents and Financial Services (Account Executives) represented the 44.6% of the employed population and women 55.4%. The male and female workforce was higher in the age group 25 to 34 years (35k men and 47.5k women).
The highest average salary was $9.27k MX received by women from 35 to 44 years, while the lowest average salary was $5.48k 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-Q3)
During the third 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 (49.5k men and 53.7k women).
The highest average salary was $9.73k MX received by men with 16 to 18 years of schooling, while the lowest average salary was $3.3k MX received by men 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 third quarter of 2024, the workforce was higher in Multiple Banking (53.2%), Financial Institutions for Economic Developmen (16.1%), and Financial Institutions for Economic Development (16.1%).
In the same period, the best average salaries were received in Nonmetallic Ore Mining ($24k MX), Natural Gas Supply through Mains to Final Consumers ($18k MX), and Credit Unions and Saving Institutions ($15k MX).
Labor Informality 2024-Q3
During the third quarter of 2024, the labor informality of Insurance Agents and Financial Services (Account Executives) reached a 19.6%, which implied an increase from 1.63 percentage points compared to the second quarter of 2024 (18%).
The labor informality of this occupation was lower than informality at the country level in 35 percentage points during the third quarter of 2024.
Greater Labor Informality: 46.4%, Guerrero
Less Labor Informality: 6.69 %, Quintana Roo
At third quarter of 2024, the states with the highest rate of labor informality in Insurance Agents and Financial Services (Account Executives) were Guerrero (46.4%), Sinaloa (46.3%), and Jalisco (41.5%).
The states with the lowest informality rate were Hidalgo (8.82%), Baja California (8.8%), and Quintana Roo (6.69%).
The workforce of Insurance Agents and Financial Services (Account Executives) during the third quarter of 2024 was higher in the age group with 25 to 34 years concentrating 82.5k workers of which 89% corresponds to formal employment (73.5k) and 11% to informal employment (9.05k).
Regarding the schooling years, the workforce was higher in the range with 16 to 18 years of schooling concentrating 103k workers of which 77.7% corresponds to formal employment (80.2k) and 22.3% corresponds to informal employment (23k).