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Financial Representative Salary

Financial Representatives in the United States can expect only a modest salary, with average pay of just $38K annually. With some bonuses approaching $7K and certain profit sharing proceeds approaching $6K, overall incomes of Financial Representatives spread between $27K and $51K depending on individual performance. Location is the biggest factor affecting pay for this group, followed by career length. Men make up the majority of Financial Representatives (62 percent) survey respondents. Most report receiving medical coverage from their employers and the greater part collect dental insurance. Job satisfaction is reported as high by the vast majority of workers. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$27,004 - $49,471
(Median)
$27K
$38K
$49K
MEDIAN: $38,041
10%
50%
90%

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$12.00 - $21.05
(Median)
$12
$16
$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
$27,004 - $49,471  
   
Bonus
$0.00 - $7,370  
Profit Sharing
$206.08 - $6,020  
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).
)
$27,092 - $51,271  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 105
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
$12.00 - $21.05  
   
Overtime
$18.26 - $32.42  
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
$0.00 - $7,370  
   
Commission
$509 - $7,370  
Profit Sharing
$206.08 - $6,020  
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).
)
$27,092 - $51,271  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 54

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United States (change)


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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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Financial Representatives usually report a few specific skills. Customer Service and Sales are considered valuable skills and can increase employee pay. Skills that seem to negatively impact pay include Sales.

Related Job Salaries

United States (change)

Experience Affects Financial Representative Salaries

Experienced
up arrow 10%

Mid-Career
up arrow 8%

National Average
$39,000

Entry-Level
up arrow 1%

Skills That Affect Financial Representative Salaries

Customer Service
up arrow 7%

National Average
$39,000

Sales
up arrow 4%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 17 votes.

Gender

Female
38 %
Male
62 %

Years of Experience

Less than 1 year
21%
1-4 years
61%
5-9 years
9%
10-19 years
6%
20 years or more
3%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 68%
vision benefits Vision: 52% employee benefits None: 13%
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