Financial Representative Salary

Financial Representatives aren't exactly in the most profitable line of business; these folks earn a belt-tightening average of $38K annually. Total cash compensation to Financial Representatives ranges from $27K on the lower end to $51K on the higher end; the final number includes potential for approximately $6K each from bonuses and profit sharing in exceptional cases. Experience level is the biggest factor affecting pay for this group, followed by geography. Job satisfaction is high and work is enjoyable for most Financial Representatives. Most report receiving medical coverage from their employers and the larger part collect dental insurance. Male Financial Representatives are more prevalent than women among those who took the survey — 60 percent of professionals. The data in this summary comes from the PayScale salary survey.
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$25,681 - $48,010
(Median)
$26K
$38K
$48K
MEDIAN: $38,087
10%
50%
90%

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$12.39 - $21.19
(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
$25,681 - $48,010  
   
Bonus
$0.93 - $6,196  
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).
)
$27,309 - $51,459  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 114
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 - $21.19  
   
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 - $6,196  
   
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).
)
$27,309 - $51,459  
Country: United States | Currency: USD | Updated: 2 Jul 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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Financial Representatives usually report a few specific skills. 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.


For Financial Representatives, more experience in the field does not usually mean bigger paychecks. Those who have worked for fewer than five years take home a median salary of $39K, and workers with five to 10 years of experience earn a higher $40K on average. Financial Representatives who work for 10 to 20 years in their occupation tend to earn about $40K. Veterans who have worked for more than two decades do tend to make the most in the end; the median pay for this group is $51K.

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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
40 %
Male
60 %

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: 53% employee benefits None: 13%
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