Financial Services Representative Salary

Average Financial Services Representatives in the United States make around $15.70 per hour. Cash earnings for Financial Services Representatives — which occasionally include more than $7K from bonuses and more than $20K from profit sharing — stretch from around $26K to approximately $50K. The most important factor affecting compensation for this group is the particular firm, followed by geography and experience level. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Women make up a slight majority of Financial Services Representatives (58 percent) survey respondents. Most workers in this position report moderate levels of job satisfaction. This report is based on answers to PayScale's salary questionnaire.
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$28,881 - $50,451
$29K
$36K
$50K
MEDIAN: $36,399
10%
50%
90%

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$11.61 - $20.19
$12
$16
$20
MEDIAN: $15.70
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$17K$34K$51K
Salary
$28,881 - $50,451  
   
Bonus
$350.00 - $6,725  
Profit Sharing
$-0.50 - $19,866  
Commission
$0.00 - $13,500  
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).
)
$25,676 - $49,677  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 141
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$10$20$30
Hourly Rate
$11.61 - $20.19  
   
Overtime
$14.19 - $27.09  
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$20K$40K$60K
Bonus
$350.00 - $6,725  
   
Commission
$0.00 - $13,500  
Profit Sharing
$-0.50 - $19,866  
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).
)
$25,676 - $49,677  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 205

Find Out Exactly What You Should Be Paid

United States (change)

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Job Description for Financial Services Representative

A financial services representative works for a bank or other financial establishment to assist customers with a variety of the investments. They may also serve as the point person for handling regular loan applications for home mortgages, which includes providing information to customers on the application process. The financial services representative must be familiar with - and able to speak to customers about - a variety of investment strategies to suit the varying needs of the bank’s customers. The representative must be able to gather information from clients such as age, time until retirement, family size, and income to help the client determine appropriate investment options. The representative also looks at the client’s current investments and debts, and they may also be expected to make recommendations related to reducing payments or interest. Many banks also sell investment insurance and life-event insurance. The financial services representative presents these products to clients and customers as well.

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Financial Services 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.

Common Career Paths for Financial Services Representative


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While Financial Services Representatives do not often become Banking Branch Managers, the job pays $52K per year on average.

Financial Service Representative (FSR) Job Listings

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Popular Employer Salaries for Financial Services Representative


Dominating the field, TD Bank, N.A., State Employees' Credit Union, State Employees Credit Union - North Carolina, Fidelity Investments, and Bank of The West are top firms with a reputation for hiring a great number of Financial Services Representatives. Those at Charles Schwab & Co., Inc. can expect to make the most, with the company offering a median salary of $50K. TD Banknorth, Fidelity Investments, and TD Bank, N.A. also offer top salaries for Financial Services Representatives. Workers at these firms can expect to earn about $46K, $43K, and $41K, respectively.

The lowest pay by far can be found at State Employees Credit Union - North Carolina — this employer offers a median salary of $28K, 79 percent less than the top paying company. Also approaching the lower end are Bank of The West at $29K, State Employees' Credit Union at $33K, and TD Bank, N.A. at $41K.

Popular Skills for Financial Services Representative


Financial Services Representatives report using a diverse set of skills on the job. Most notably, skills in Oral / Verbal Communication, Customer Relationship Management, Financial Analysis, and Customer Service are correlated to pay that is above average. Skills that pay less than market rate include Banking and Cash Handling. Most people skilled in Customer Service are similarly competent in Insurance.

Pay by Experience Level for Financial Services Representative

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


Financial Services Representatives do not generally earn higher incomes from more experience in the field. Folks with fewer than five years of experience take home $34K on average, and those who have worked for five to 10 years see a bigger median salary of $36K. For Financial Services Representatives, 10 to 20 years of experience on the job amounts to an average salary of $37K. In the end, more experience does seem to mean larger paychecks; seasoned Financial Services Representatives with more than 20 years of experience earn a predictably higher median salary of $40K.

Related Job Salaries

Key Stats for Financial Services Representative

Gender

Female
58 %
Male
42 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 50 votes.
Less than 1 year
9%
1-4 years
52%
5-9 years
19%
10-19 years
14%
20 years or more
6%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Financial Services Representative Salaries

▲14%

▲6%

▲4%

National Average
$35,000

▼2%

Skills That Affect Financial Services Representative Salaries

Oral / Verbal Communication
▲2%


▲1%

Financial Analysis
▲1%

Customer Relationship Management (CRM)
▲1%

National Average
$35,000

Insurance
▼1%

Cash Handling
▼4%

Banking
▼9%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 50 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
9%
1-4 years
52%
5-9 years
19%
10-19 years
14%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 75%
vision benefits
Vision: 65%
dental benefits
None: 13%
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