The majority of employees of financial companies in all subsectors hold a bachelor’s degree.Among them,the percentages of employees holding a bachelor’s degree are:banks 65.40%;insurance companies 48.93%;and securities companies 48.63%.

Employees holding a master’s degree or a doctoral degree are 13.50%and 0.41%of the banking workforce;13.24%and 0.35%of the insurance workforce;and 30.00%and 1.63%of securities workforce respectively.Higher proportions exist in asset management,markets,trust,fund and financial leasing subsectors.Factoring companies have no employee with a doctoral degree.

Employees with only a secondary vocational,high school and even lower education background mainly concentrate in pawn(33.87%),micro-lending(14.81%),and insurance(10.25%)subsectors(see Figure 28).

Figure 28　Academic background of financial company employees by subsector

In terms of overseas education background,banks hire 7,535 employees with overseas undergraduate and graduate background or holding a bachelor’s degree,a master’s degree or a doctoral degree from overseas institutions;securities companies 2,431;insurance companies 1,645;fund companies 973;asset management companies 812;markets companies 595;financial leasing companies 492;futures companies 437;payment companies 186;trust companies 184;financial leasing companies 137;group finance companies 111;micro-lending companies 65;financing guarantee companies 31;factoring companies 26;and pawn companies 19(see Figure 29).

Figure 29　Employees with overseas education background by subsector