Financial Representative Salary

A big portion of take-home pay for Financial Representatives — over a third, in fact — arrives through commissions. This profession's median overall income is approximately $42K. In the world of Financial Representatives, overall income ranges from $25K near the bottom to $54K at the top; this can include more than $8K from bonuses and more than $10K from profit sharing in exceptional cases. Compensation for this group is mainly affected by geography, but the specific employer and tenure are influential factors as well. For the most part, Financial Representatives enjoy their work and report high levels of job satisfaction. The majority of Financial Representatives (60 percent) who took the survey are men. Medical benefits are awarded to most, and a strong majority earn dental coverage. The numbers in this rundown were provided by PayScale's salary survey participants.
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$24,252 - $51,208
$24K
$40K
$51K
MEDIAN: $40,282
10%
50%
90%

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$10.85 - $21.68
$11
$18
$22
MEDIAN: $18.40
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
$24,252 - $51,208  
   
Bonus
$740 - $8,133  
Profit Sharing
$98.63 - $10,137  
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).
)
$24,894 - $54,311  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 130
© PayScale, Inc. @ www.payscale.com
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
$10.85 - $21.68  
   
Overtime
$21.00 - $32.24  
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
$740 - $8,133  
   
Commission
$206.08 - $96,958  
Profit Sharing
$98.63 - $10,137  
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).
)
$24,894 - $54,311  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 59
© PayScale, Inc. @ www.payscale.com

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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


Financial Representatives seeking a sizable paycheck can earn the most at TD Ameritrade, Inc, where the average salary comes to $48K.

Pay by Experience Level for Financial Representative

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


The average inexperienced worker earns $43K. It's worth noting that someone who has worked for five to 10 years can expect a smaller median salary of $41K. For Financial Representatives, 10 to 20 years of experience on the job amounts to an average salary of $41K. Financial Representatives who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $50K.

Related Job Salaries

Key Stats for Financial Representative

Gender

Female
40 %
Male
60 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 14 votes.
Less than 1 year
19%
1-4 years
58%
5-9 years
10%
10-19 years
11%
20 years or more
2%
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%


▲3%

National Average
$42,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 14 votes.

Gender

Female
40 %
Male
60 %

Years of Experience

Less than 1 year
19%
1-4 years
58%
5-9 years
10%
10-19 years
11%
20 years or more
2%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 75%
vision benefits
Vision: 53%
dental benefits
None: 13%
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