Insurance employees see 6% salary growth

There were 8,566 full-time employees in Financial Activities at the end of the third quarter of 2023, according to data from the Statistics and Census Service (DSEC). Among them, 7,281 were in the Banking Sector, 801 in Insurance Activities and 274 in Other Financial Intermediation, up by 1.8%, 4.8% and 10.5% respectively year-on-year. In September, average earnings (excluding irregular remuneration) in Financial Activities were MOP30,480, down slightly by 0.1% year-on-year. Average earnings in the Banking Sector dropped 1.4% year-on-year to MOP30,650, while those in Insurance Activities grew 6% to MOP33,000.