Financial Services Representative Salary

Financial Services Representatives in the United States take home an average $15.22 per hour. Incomes of Financial Services Representatives vary widely depending on performance components; bonuses and profit sharing that can occasionally exceed $5K cause paychecks to spread between $25K on the low end and $47K on the high end. The most influential factor affecting pay for this group is the particular firm, though the particular city and years of experience have a (lesser) impact as well. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Most Financial Services Representatives report high levels of job satisfaction. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$25,998 - $47,011
(Median)
$26K
$36K
$47K
MEDIAN: $35,728
10%
50%
90%

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$11.44 - $19.71
(Median)
$11
$15
$20
MEDIAN: $15.00
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$16K$32K$48K
Salary
$25,998 - $47,011  
   
Bonus
$0.00 - $5,070  
Profit Sharing
$727 - $5,152  
Commission
$0.00 - $11,983  
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).
)
$25,337 - $46,578  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 264
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
$11.44 - $19.71  
   
Overtime
$15.36 - $29.50  
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
$0.00 - $5,070  
   
Commission
$0.00 - $11,983  
Profit Sharing
$727 - $5,152  
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).
)
$25,337 - $46,578  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 314
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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

  • 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 Services Representative


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Financial Services Representatives often transition into Banking Branch Manager positions, for which compensation tends to be much higher. On average, Banking Branch Managers earn $51K per year.

Financial Service Representative (FSR) Job Listings

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Popular Employer Salaries for Financial Services Representative


TD Bank, N.A., State Employees Credit Union - North Carolina, State Employees' Credit Union, Fidelity Investments, and TD Banknorth are all popular places to work. TD Bank, N.A. offers the best pay with a median salary of $41K, though salaries there don't seem that varied, bottoming out near $28K and maxing out at just $46K.

State Employees Credit Union - North Carolina offers the lowest pay, with a median salary of just $28K. The pay scale doesn't vary widely, either; compensation ranges from $18K to $33K.

Popular Skills for Financial Services Representative


Financial Services Representatives report using a diverse set of skills on the job. Most notably, skills in Insurance, Financial Analysis, Sales, and Customer Service are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Banking and Cash Handling. It is often found that people who know Customer Service are also skilled in Insurance.

Pay by Experience Level for Financial Services Representative

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


More years of relevant experience do not necessarily translate to higher paychecks. Survey participants with less than five years' experience pocket $33K on average, but those with five to 10 years of experience enjoy a much bigger median of $36K. The average pay reported by folks with 10 to 20 years of experience is around $38K. More than 20 years of experience mean a somewhat bigger median paycheck of $40K, but it's not much more than what less experienced people make.

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Experience Affects Financial Services Representative Salaries

Late-Career
up arrow 17%

Experienced
up arrow 11%

Mid-Career
up arrow 4%

National Average
$34,000


Skills That Affect Financial Services Representative Salaries

Insurance
up arrow 11%

Financial Analysis
up arrow 5%

National Average
$34,000

Sales
up arrow 1%

Customer Service
up arrow 2%

Cash Handling
up arrow 4%

Banking
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 82 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
11%
1-4 years
49%
5-9 years
22%
10-19 years
12%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 75%
medical benefits
Vision: 64%
dental benefits
None: 13%
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