Financial Representative Salary

Pay for Financial Representatives in the United States is very modest at just $38K per year. Incomes of Financial Representatives vary widely depending on performance components; bonuses and profit sharing that can occasionally exceed $6K cause paychecks to spread between $27K on the low end and $51K on the high end. Location and years of experience each impact pay for this group, with the former having the largest influence. The majority of Financial Representatives (62 percent) who took the survey are men. A large number enjoy medical while a majority get dental coverage. Vision coverage is also available to slightly more than half. Job satisfaction is considered about average by most people in this profession. The information for this snapshot was generated by responses to the PayScale salary survey.
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$28,238 - $50,061
(Median)
$28K
$38K
$50K
MEDIAN: $38,041
10%
50%
90%

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$11.94 - $20.92
(Median)
$12
$16
$21
MEDIAN: $15.00
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
$28,238 - $50,061  
   
Bonus
$0.00 - $6,040  
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).
)
$27,135 - $51,216  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 99
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
$11.94 - $20.92  
   
Overtime
$18.12 - $32.52  
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 - $6,040  
   
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).
)
$27,135 - $51,216  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 52

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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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Just a handful of professional skills are reported by Financial Representatives who took the survey. Customer Service and Sales are considered valuable skills and can increase employee pay. At the other end of the pay range are skills like Sales.

Related Job Salaries

United States (change)

Experience Affects Financial Representative Salaries

Experienced
up arrow 16%

Mid-Career
up arrow 4%

National Average
$39,000

Entry-Level
up arrow 1%

Skills That Affect Financial Representative Salaries

Customer Service
up arrow 6%

National Average
$39,000

Sales
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 18 votes.

Gender

Female
38 %
Male
62 %

Years of Experience

Less than 1 year
23%
1-4 years
60%
5-9 years
9%
10-19 years
5%
20 years or more
3%

Common Health Benefits

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