Financial Services Representative Salary

Median pay for Financial Services Representatives in the United States is around $15.22 per hour. Overall cash earnings of Financial Services Representatives stretch from $25K near the bottom to $47K on the more lucrative end; these packages can sometimes encompass potential bonuses and profit sharing of almost $5K each, along with commissions approaching $12K in rare cases. The specific employer is the main element affecting pay for this group — geography and experience level are driving factors as well. Work is enjoyable for Financial Services Representatives, who typically claim high levels of job satisfaction. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. This overview is based on answers to PayScale's salary questionnaire.
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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


Dominating the field, TD Bank, N.A., State Employees Credit Union - North Carolina, State Employees' Credit Union, Fidelity Investments, and TD Banknorth are top firms with a reputation for hiring a great number of Financial Services Representatives. Although TD Bank, N.A. offers the highest salaries (median pay is $41K), survey participants reported a rather limited pay range of $28K to $46K.

State Employees Credit Union - North Carolina offers the least money; the median income there is just $28K. The pay range is also pretty narrow, as compensation generally sits between $18K and $33K.

Popular Skills for Financial Services Representative


Survey results suggest that Financial Services Representatives use a fairly large toolkit of professional skills. Most notably, skills in Insurance, Financial Analysis, Sales, and Customer Service are correlated to pay that is above average. At the other end of the pay range are skills like Banking and Cash Handling. For most people, competency in Customer Service indicates knowledge of 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 with a lot of experience do not necessarily enjoy more money. Salaries of relatively inexperienced workers fall in the neighborhood of $33K, but folks who have racked up five to 10 years see a notably higher median of $36K. Financial Services Representatives see a median salary of $38K after reaching one to two decades on the job. Financial Services Representatives who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $40K.

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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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