From consulting to insurance: These are the sectors where you're most likely to get promoted

 
Rebecca Smith
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Forget a pay rise, how about a promotion? (Source: Getty)

Have you been promoted lately? Chances are if you’re in consulting or insurance the answer is a resounding yes.

Consulting and professional services and insurance were the top sectors for promotions in the past five years, according to a study from Emolument.

The salary benchmarking site asked 1,950 professionals if they’d been promoted in the past five years and this is what they found…

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Promotions by sector

Have you been promoted in the last 5 years? Yes | No

Consulting & Professional Services 68 per cent 32 per cent
Insurance 68 per cent 32 per cent
Retail & Trade 67 per cent 33 per cent
Construction, Real Estate, Architecture 64 per cent 36 per cent
Apps, Web, eCommerce 62 per cent 38 per cent
Consumer Goods 60 per cent 40 per cent
Manufacturing & Industrials 59 per cent 41 per cent
Financial Services 58 per cent 42 per cent
Transportation & Logistics 56 per cent 44 per cent
Technology & Telecoms 55 per cent 45 per cent
Services, Tourism, Restaurants 54 per cent 46 per cent
Energy, Mining, Chemicals, Environmental 54 per cent 46 per cent
Public sector & Education 53 per cent 47 per cent
Media, Communication 53 per cent 47 per cent
Pharmaceuticals & Biotech 48 per cent 52 per cent

Working for a large firm in a well-established industry paid off; it was one of the best way to obtain regular promotions, while smaller firms were much more restrained on that front.

Read more: I've been passed over for a promotion: Should I move jobs?

Consulting and insurance firms promote junior employees on a regular basis – as many as 68 per cent of employees in both sectors said they’d been promoted in the past five years.

Emolument said the constant concern over good employees moving on for a corporate job partly explains this; and a more impressive job title is often used as an incentive when pay doesn’t stack up to expectations.

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