Financial Services Representatives in the United States take home an average $15.61 per hour. The most important factor affecting compensation for this group is the particular firm, followed by geography and tenure. Women make up a slight majority of Financial Services Representatives (57 percent) survey respondents. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the greater part. Most people in this profession are content with their work, and moderate levels of job satisfaction are reported. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$27,678 - $50,361
(Median)
$28K
$36K
$50K
MEDIAN: $35,759
10%
50%
90%

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$11.37 - $19.84
(Median)
$11
$16
$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$17K$34K$51K
Salary
$27,678 - $50,361  
   
Bonus
$300.00 - $6,251  
Profit Sharing
$1,965  
Commission
$0.00 - $14,597  
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).
)
$25,443 - $48,889  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 145
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
$11.37 - $19.84  
   
Overtime
$14.74 - $28.75  
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
$300.00 - $6,251  
   
Commission
$0.00 - $14,597  
Profit Sharing
$1,965  
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).
)
$25,443 - $48,889  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 206
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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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Many Financial Services Representatives move into a Banking Branch Manager role, and folks who currently hold that position report a much higher median income of $52K 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, State Employees Credit Union - North Carolina, Fidelity Investments, and TD Banknorth are top-notch employers for Financial Services Representatives in this area. Charles Schwab & Co., Inc. offers the highest compensation with a median salary of $50K. Those in search of high salaries should also consider Fidelity Investments, TD Bank, N.A., and TD Banknorth, top-paying firms where Financial Services Representatives rake in a respectable $42K, $41K, or $35K, respectively.

With a median employee salary of $28K, State Employees Credit Union - North Carolina pays significantly less than its competitors (79 percent less than the top paying company). Bank of The West, State Employees' Credit Union, and TD Banknorth also scrape the bottom of the pay scale, with median earnings hovering around $29K, $33K, and $35K.

Popular Skills for Financial Services Representative


Survey results show that Financial Services Representatives use a fair number of skills. Most notably, skills in Oral / Verbal Communication, Customer Relationship Management, Financial Analysis, and Sales are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Banking and Cash Handling. Those educated in Customer Service tend to be well versed in Insurance.

Pay by Experience Level for Financial Services Representative

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


Salaries of relatively inexperienced workers fall in the neighborhood of $34K, but folks who have racked up five to 10 years see a notably higher median of $36K. Financial Services Representatives bring in $38K after working for 10 to 20 years. For some reason, Financial Services Representatives with more than two decades of experience report lower paychecks overall; the median sum in this group sits near $37K.

Related Job Salaries

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Experience Affects Financial Services Representative Salaries

Experienced
up arrow 8%

Late-Career
up arrow 6%

Mid-Career
up arrow 4%

National Average
$35,000


Skills That Affect Financial Services Representative Salaries

Oral / Verbal Communication
up arrow 3%

Financial Analysis
up arrow 2%

Customer Relationship Management (CRM)
up arrow 2%

Customer Service
up arrow 1%

Sales
up arrow 1%

Insurance
0%

National Average
$35,000

Cash Handling
up arrow 3%

Banking
up arrow 8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 48 votes.

Gender

Female
57 %
Male
43 %

Years of Experience

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

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 75%
medical benefits
Vision: 66%
dental benefits
None: 13%
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