Financial Service Representative (FSR) Salary (United States)

Salaries for Financial Service Representatives in the United States lie in the neighborhood of $14.54 per hour. The pay spectrum stretches from $11.19 per hour to $18.82. In the world of Financial Service Representatives, total cash compensation ranges from $25,314 on the lower end to $45,206 on the higher end; this includes bonuses that peak near $4,911 and profit sharing that approaches $4,338, with some high rollers snagging commissions as high as $9,744. Geographic location is the main element affecting pay for this group—career duration and the specific company are driving factors as well. Most workers in this profession enjoy health benefits; medical and dental coverage is claimed by most, and more than half earn vision coverage. There are more female Financial Service Representatives than male, making up 62 percent of individuals in this profession. Job satisfaction for Financial Service Representatives is high. This outline is based on answers to PayScale's salary survey.
Financial Service Representative (FSR) Salary (?
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.
)
$25,314 - $45,206
(Median)
25K
30K
34K
40K
45K
MEDIAN: $34,399
10%
25%
50%
75%
90%
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Financial Service Representative (FSR) Salary (?
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.
)
$11.19 - $18.82
(Median)
11
13
15
17
19
MEDIAN: $14.00
10%
25%
50%
75%
90%
Add this chart to your site: 640px    300px

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$16K$32K$48K
Salary
$25,314 - $45,206  
   
Bonus
$0.00 - $4,911  
Profit Sharing
$125.00 - $4,338  
Commission
$20.27 - $9,744  
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).
)
$24,867 - $45,076  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 392
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$10$20$30
Hourly Rate
$11.19 - $18.82  
   
Overtime
$9.47 - $28.96  
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$20K$40K$60K
Bonus
$0.00 - $4,911  
   
Commission
$20.27 - $9,744  
Profit Sharing
$125.00 - $4,338  
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).
)
$24,867 - $45,076  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 441
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Job Description for Financial Service Representative (FSR)

A financial service representative (or FSR) generally works for a bank or credit union, although there are also a limited number of FSR positions available in insurance agencies, financial groups, and other institutions. The financial service representative holds a customer-facing position that requires that the employee be well-versed in the various financial offerings of their company.
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Financial Service Representative (FSR) 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.

Common Career Paths for Financial Service Representative (FSR)

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Compensation usually increases greatly for Financial Service Representatives who advance in their career. Upper-end positions like Bank Branch Manager may make an additional $18,040 per year than lower-end positions. Financial Service Representatives moving up in their career tend to step into positions as Assistant Bank Branch Managers or Personal Bankers, where paychecks increase by $5,462 or $1,632 per year.

Financial Service Representative (FSR) Job Listings

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Popular Employer Salaries for Financial Service Representative (FSR)

Pay for Financial Service Representatives is best at TD Bank, N.A., which offers a median salary of $36,466. However, there's little room to grow there, with salaries maxing out at $46K.
With a median salary of $30,969, SunTrust Banks Inc. provides Financial Service Representatives with the lowest pay in their field; moreover, earnings are capped at only $42K, limiting employee salary growth. Others at the bottom of the scale for this job include San Diego County Credit Union at $32,214, and TD Bank, N.A. where $36,466 is the norm.

Popular Skills for Financial Service Representative (FSR)

Survey takers who work as Financial Service Representatives usually report a few specific skills. Banking is considered a valuable skill and can increase employee pay by 7 percent. Most people experienced in Customer Service also know Microsoft Office.

Pay by Experience Level for Financial Service Representative (FSR)

Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Financial Service Representatives, level of experience is overall a somewhat less important part of the salary calculation—more experience does not yield dramatically higher pay—and pay raises are largely incremental. Compensation grows after five to 10 years from $33K to $35K. Those with one to two decades of experience under their belt tend to see salaries around $38K. As Financial Service Representatives reach 20 years on the job, salary increases slow down a bit, averaging $38K. Experienced employees who have 10-20 years of experience make up 13 percent of the workforce; inexperienced individuals who have been working for less than one year comprise 7 percent, and senior people with more than 20 years under their belt fill out the remaining less than five. Most of respondents report one to nine years of experience.

Pay Difference By Location

New York
up arrow 33%
Philadelphia
up arrow 13%
San Diego
up arrow 10%
National Average
$33,000
Larger circles over a city indicate a job is popular in that location.
For those looking to make money, Financial Service Representatives in New York enjoy an exceptional pay rate, 33 percent above the national average. Financial Service Representatives will also find cushy salaries in Philadelphia (+13 percent) and San Diego (+10 percent).

Related Job Salaries

Experience Affects Financial Service Representative (FSR) Salaries

Late-Career
up arrow 16%
National Average
$33,000

Skills That Affect Financial Service Representative (FSR) Salaries

up arrow 7%
Sales
up arrow 2%
Customer Service
up arrow 1%
Customer Relationship Management (CRM)
up arrow 1%
Microsoft Office
0%
National Average
$33,000

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 173 votes.

Gender

Female
62%
female alumni
 
Male
38%
male alumni

Years of Experience

Less than 1 year
7%
1-4 years
52%
5-9 years
25%
10-19 years
13%
20 years or more
4%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 75%
vision benefits Vision: 59% employee benefits None: 15%
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