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Financial Representative Salary

Those pursuing careers as Financial Representatives in the United States may have to make do with less; average incomes for people in this area hover around only $38K per year. 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. Geography and tenure each impact pay for this group, with the former having the largest influence. For the most part, people in this position report moderate levels of job satisfaction. A large number enjoy medical while the greater part get dental coverage. Vision coverage is also available to a little more than half. Most people who answered the questionnaire are men; 62 percent of Financial Representatives are male. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$29,450 - $46,698
(Median)
$29K
$38K
$47K
MEDIAN: $37,567
10%
50%
90%

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$11.74 - $21.26
(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
$29,450 - $46,698  
   
Bonus
$0.00 - $6,128  
Profit Sharing
$503 - $6,082  
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).
)
$27,400 - $51,116  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 83
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$12$24$36
Hourly Rate
$11.74 - $21.26  
   
Overtime
$22.02 - $33.21  
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$24K$48K$72K
Bonus
$0.00 - $6,128  
   
Commission
$509 - $7,370  
Profit Sharing
$503 - $6,082  
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).
)
$27,400 - $51,116  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 46
United States (change)

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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Survey takers who work as Financial Representatives report a focused set of job skills. Customer Service and Sales are considered valuable skills and can increase employee pay.

Related Job Salaries

Experience Affects Financial Representative Salaries

Experienced
up arrow 5%

Mid-Career
up arrow 4%

National Average
$38,000

Entry-Level
up arrow 1%

Skills That Affect Financial Representative Salaries

Customer Service
up arrow 7%

National Average
$38,000

Sales
up arrow 2%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 20 votes.

Gender

Female
38 %
Male
62 %

Years of Experience

Less than 1 year
23%
1-4 years
59%
5-9 years
9%
10-19 years
5%
20 years or more
3%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 70%
vision benefits Vision: 54% employee benefits None: 12%