Financial Representative Salary

Pay for Financial Representatives in the United States is very modest at just $38K annually. Including potential for bonuses and profit sharing, each hitting highs of $6K, total cash payment to Financial Representatives can bottom out at $28K or peak near $51K. Career duration is the biggest factor affecting pay for this group, followed by geography. Most Financial Representatives report high levels of job satisfaction. Medical benefits are awarded to most, and a strong majority earn dental coverage. There are more male Financial Representatives than female among those who completed the questionnaire, making up 61 percent. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$26,832 - $48,225
(Median)
$27K
$38K
$48K
MEDIAN: $38,153
10%
50%
90%

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$12.39 - $21.28
(Median)
$12
$17
$21
MEDIAN: $16.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$18K$36K$54K
Salary
$26,832 - $48,225  
   
Bonus
$0.93 - $6,183  
Profit Sharing
$195.74 - $6,183  
Commission
$509 - $7,370  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$27,513 - $51,485  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 113
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$11$22$33
Hourly Rate
$12.39 - $21.28  
   
Overtime
$22.35 - $32.22  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$22K$44K$66K
Bonus
$0.93 - $6,183  
   
Commission
$509 - $7,370  
Profit Sharing
$195.74 - $6,183  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$27,513 - $51,485  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 65
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Job Description for Financial Representative

A financial representative works at a financial institution and offers services to clients. This is a sales position, and the representative is expected to acquire new customers via referrals, advertising, cold-calling, networking, and/or lead follow-ups. Commission is usually offered based on sales, and there may also be targets that representatives must reach. When working with clients, a financial representative should have a solid understanding of their needs and their financial goals. The representative should also understand the performance of the clients’ portfolios and make changes (or offer to do so) when necessary. They should also follow-up with current clients to make sure they are satisfied with their service; when clients are dissatisfied, their representative must find a way to remedy the situation.

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Financial Representative Tasks

  • Monitor market trends, identify and pursue potential customer leads, and meet sales goals.
  • Discuss customers' financial concerns, questions, and needs.
  • Provide financial advice and match financial products with customers' needs and goals.
  • Develop long-term rapport with customers and foster profitable relationships.

Financial Service Representative (FSR) Job Listings

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Job skills reported by Financial Representatives are limited. Customer Service and Sales are considered valuable skills and can increase employee pay. Skills that are correlated to lower pay, on the other hand, include Sales.

Pay by Experience Level for Financial Representative

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Financial Representatives with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Relatively untried employees who have fewer than five years of experience earn around $39K on average. People who have worked for five to 10 years can expect a higher median salary of $40K. People with 10 to 20 years of experience make an average of about $40K in this role. Survey participants who have spent more than 20 years on the job report a predictably higher median income of $51K, demonstrating that compensation is roughly commensurate with experience in the end.

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Experience Affects Financial Representative Salaries

Late-Career
up arrow 32%

Experienced
up arrow 3%

Mid-Career
up arrow 1%


National Average
$39,000

Skills That Affect Financial Representative Salaries

Customer Service
up arrow 6%

National Average
$39,000

Sales
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 16 votes.

Gender

Female
39 %
Male
61 %

Years of Experience

Less than 1 year
20%
1-4 years
61%
5-9 years
9%
10-19 years
6%
20 years or more
3%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 70%
vision benefits Vision: 54% employee benefits None: 12%
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