Financial Representative Salary

The median total income of Financial Representatives is around $42K, and for the average worker in this area, a good chunk of that (more than a third, in fact) comes from commissions. In the world of Financial Representatives, overall cash allowance can occasionally include more than $8K from bonuses and, in some exceptional cases, $15K from profit sharing, causing incomes to vary widely between $25K and $54K. The most important factor affecting compensation for this group is geographic location, followed by the company and experience level. Job satisfaction for Financial Representatives is high. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to slightly more than half. The majority of Financial Representatives (60 percent) who took the survey are men. This report is based on answers to PayScale's salary questionnaire.
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$24,270 - $51,717
$24K
$40K
$52K
MEDIAN: $40,328
10%
50%
90%

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$10.89 - $21.65
$11
$18
$22
MEDIAN: $18.31
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$33K$66K$99K
Salary
$24,270 - $51,717  
   
Bonus
$511 - $7,902  
Profit Sharing
$0.00 - $15,000  
Commission
$206.08 - $96,958  
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).
)
$24,757 - $54,451  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 130
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$17$34$51
Hourly Rate
$10.89 - $21.65  
   
Overtime
$21.00 - $32.22  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Bonus
$511 - $7,902  
   
Commission
$206.08 - $96,958  
Profit Sharing
$0.00 - $15,000  
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).
)
$24,757 - $54,451  
Country: United States | Currency: USD | Updated: 4 May 2017 | Individuals Reporting: 60

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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

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

Financial Service Representative (FSR) Job Listings

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Popular Employer Salaries for Financial Representative


Those at TD Ameritrade, Inc can expect to make the most, with the company offering a median salary of $48K.

Pay by Experience Level for Financial Representative

Pay by Experience for a Financial Representative has a positive trend. An entry-level Financial Representative with less than 5 years of experience can expect to earn an average total compensation of $43,000 based on 152 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Representative with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $41,000 based on 25 salaries. An experienced Financial Representative which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 22 salaries. A Financial Representative with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $50,000 based on 5 salaries.

Related Job Salaries

Key Stats for Financial Representative

Gender

Female
40 %
Male
60 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 15 votes.
Less than 1 year
22%
1-4 years
56%
5-9 years
9%
10-19 years
11%
20 years or more
2%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Financial Representative Salaries

Late-Career
▲19%

▲1%

National Average
$42,000

Mid-Career
▼2%

Experienced
▼2%

Skills That Affect Financial Representative Salaries

Financial Advisor
▲18%


▲4%

National Average
$42,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 15 votes.

Gender

Female
40 %
Male
60 %

Years of Experience

Less than 1 year
22%
1-4 years
56%
5-9 years
9%
10-19 years
11%
20 years or more
2%

Common Health Benefits

medical benefits
Medical: 86%
dental benefits
Dental: 75%
vision benefits
Vision: 54%
no benefits
None: 13%
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