Financial Representative Salary

Financial Representatives in the United States are not likely to strike it rich; they only make around $38K per year on average. Including potential bonuses and profit sharing proceeds (more than $6K for each in exceptional cases) overall income bottoms out near $27K and hits $51K on the high end. Career length and the particular city each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to a large number, and a majority earn dental coverage. More than half of Financial Representatives (60 percent) survey respondents are men. The majority of workers are highly satisfied with their job. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$24,840 - $47,787

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$12.42 - $21.16

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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$18K$36K$54K
Salary
$24,840 - $47,787  
   
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).
)
$27,135 - $51,407  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 115
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$11$22$33
Hourly Rate
$12.42 - $21.16  
   
Overtime
$22.35 - $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$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).
)
$27,135 - $51,407  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 66
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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 typically list a handful of skills they use on the job. Customer Service and Sales are considered valuable skills and can increase employee pay. Skills that seem to negatively impact pay include Sales.

Pay by Experience Level for Financial Representative

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


More years of relevant experience do not necessarily translate to higher paychecks. During their first five years in the workforce, individuals in this position earn $39K on average. Survey participants with five to 10 years under their belts see an only a slightly bigger average of $39K. Financial Representatives claiming one to two decades of experience make an estimated median of $40K. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Financial Representative with more than 20 years of experience can earn $51K on average.

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Experience Affects Financial Representative Salaries

Late-Career
up arrow 32%

Experienced
up arrow 3%


Mid-Career
0%

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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