522120/Savings Institutions
US businesses, employees and payroll, 2017 to 2023
91K
employees, 2023
91K
employees, 2023
In 2023, 6,171 US Savings Institutions business locations employed 90,728 people and paid $8.7 billion in annual payroll, $96,380 per employee on average. Employment was down 9.1% from 2022. Massachusetts had the most employees.
Updated Oct 9, 2026 · data year 2023
Business locations
6,171
-10.4% vs 2022
Employees
90,728
-9.1% vs 2022
Annual payroll
$8.7B
-5.7% vs 2022
Average pay
$96,380
+3.7% vs 2022
Over the years
United States, 2017 to 2023
Employees
Paid employees in mid-March
Business locations
Places with paid employees
By state
Employees of Savings Institutions in each state, 2023
Employees by state
States with the most employees
Employees and the share of all the state's jobs
| State | Business locations | Employees | Average pay | Share of state jobs |
|---|---|---|---|---|
| Massachusetts | 862 | 13,947 | $99,117 | 0.40% |
| New York | 675 | 7,954 | $99,847 | 0.09% |
| Pennsylvania | 648 | 6,511 | $77,335 | 0.11% |
| Texas | 95 | 6,320 | $143,337 | 0.05% |
| New Jersey | 471 | 4,880 | $95,267 | 0.12% |
| Ohio | 360 | 4,744 | $79,520 | 0.09% |
| Michigan | 146 | 4,598* | $117,608 | 0.11% |
| Connecticut | 354 | 4,501 | $93,521 | 0.29% |
| Maine | 210 | 3,412 | $76,164 | 0.62% |
| Florida | 168 | 2,876 | $100,424 | 0.03% |
| California | 154 | 2,388* | $109,132 | 0.01% |
| Illinois | 181 | 2,277 | $68,585 | 0.04% |
| Oklahoma | 57 | 2,247* | $96,348 | 0.16% |
| New Hampshire | 141 | 1,866* | $77,945 | 0.30% |
| Wisconsin | 145 | 1,827 | $75,880 | 0.07% |
The 15 states with the most employees. Download the CSV for all 51.
Top metro areas
Metro and micro areas with the most Savings Institutions employees, 2023
Metro areas with the most employees
| Metro area | Locations | Employees | Average pay |
|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ | 769 | 9,034 | $107,681 |
| Boston-Cambridge-Newton, MA-NH | 503 | 8,082 | $103,292 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 269 | 4,183* | $90,665 |
| San Antonio-New Braunfels, TX | 7 | 4,036* | $156,086 |
| Detroit-Warren-Dearborn, MI | 73 | 4,030* | $124,320 |
| Cleveland, OH | 139 | 2,249 | $92,402 |
| Oklahoma City, OK | 37 | 2,121* | $98,740 |
| Providence-Warwick, RI-MA | 148 | 2,027 | $102,549 |
| Worcester, MA | 120 | 1,777 | $91,818 |
| Pittsburgh, PA | 146 | 1,754 | $78,906 |
| Hartford-West Hartford-East Hartford, CT | 107 | 1,377 | $108,005 |
| Dallas-Fort Worth-Arlington, TX | 26 | 1,346 | $147,645 |
| Urban Honolulu, HI | 51 | 1,321* | $86,770 |
| Portland-South Portland, ME | 96 | 1,316 | $75,052 |
| San Diego-Chula Vista-Carlsbad, CA | 6 | 1,183* | $112,150 |
Business size
US Savings Institutions business locations by number of employees, 2023
Locations by size
| Employees | Locations | Share |
|---|---|---|
| Under 5 | 2,133 | 34.6% |
| 5 to 9 | 2,697 | 43.7% |
| 10 to 19 | 689 | 11.2% |
| 20 to 49 | 359 | 5.8% |
| 50 to 99 | 175 | 2.8% |
| 100 to 249 | 86 | 1.4% |
| 250 to 499 | 18 | 0.3% |
| 500 to 999 | 9 | 0.1% |
| 1,000 or more | 5 | 0.1% |
Related industries
The industries this code belongs to
Part of Finance and Insurance 52Credit Intermediation and Related Activities 522Depository Credit Intermediation 5221Savings Institutions 52212
Questions and answers
How many people work in Savings Institutions in the US?
90,728 people worked at 6,171 US Savings Institutions business locations in 2023, down 9.1% from 2022. That is 0.06% of all US private-sector employees.
What is the average pay in Savings Institutions?
$96,380 a year per employee in 2023, from $8.7 billion in annual payroll (up 3.7% from 2022). The average across all US industries was $68,342.
Which state has the most Savings Institutions jobs?
Massachusetts had the most, with 13,947 employees in 2023, followed by New York (7,954) and Pennsylvania (6,511).
Which metro areas have the most Savings Institutions jobs?
New York-Newark-Jersey City, NY-NJ (9,034), Boston-Cambridge-Newton, MA-NH (8,082), Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (4,183) had the most Savings Institutions employees in 2023.
Are most Savings Institutions businesses small?
89.4% of the 6,171 Savings Institutions business locations had fewer than 20 employees in 2023, and 14 had 500 or more.
Official US government statistics, published once a year. Business locations are places with paid employees; employees are counted in mid-March; payroll covers the whole year. Covers most private employers, not the self-employed, most government workers or farm workers on farms. * Less accurate: changed by 5% or more to protect privacy. Changes from the year before are shown only when both years use the same edition of the industry codes.