Most of the financial and insurance services sector have some non-school qualification from a higher education establishment, according to the latest education and work report from the Australian Bureau of Statistics (ABS).

A total of 263,400 people have some form of degree and certificates from a higher education establishment, compared to 126,000 with no formal qualifications.

Most qualified people have a bachelor degree (114,700) followed by 53,400 having an advanced diploma or diploma from a higher education establishment.

The smallest qualification group was those with a graduate diploma (11,100).

According to the ABS survey, 8.1 million Australians had some form of qualification from a higher education establishment.