Education levels

The level of formal education among independent insurance brokers and financial advisers is significantly higher than the population average.

AHS (general high schools) and BHS (vocational/technical high schools) graduates are 2.6 and 2.2 times more frequently employed here than the domestic average. Employees with third-level qualifications (university or universities of applied sciences) are also 1.5 times more frequently found in this sector. In contrast people with only a compulsory school leaving certificate or no school leaving qualifications at all are 2.8 times less frequently represented in this sector.

In contrast to the situation with banking and insurance company workers, the legislator has defined criteria regarding qualifications, admission, education and training that independent advisers are required to fulfil.