Financial Services Representative Salary

Financial Services Representatives in the United States can expect to earn an average of $15.61 per hour. Cash earnings of Financial Services Representatives — including $7K in bonuses, $20K in profit sharing proceeds, and $9K in commissions near the top of the pay scale — stretch from approximately $25K to approximately $49K depending on individual performance. This group's pay is mainly influenced by the company, followed by the particular city and years of experience. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Job satisfaction for Financial Services Representatives is high. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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$28,140 - $50,082
$28K
$36K
$50K
MEDIAN: $36,466
10%
50%
90%

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$11.38 - $20.03
$11
$16
$20
MEDIAN: $15.61
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
$28,140 - $50,082  
   
Bonus
$300.50 - $6,687  
Profit Sharing
$-0.50 - $19,866  
Commission
$0.00 - $9,274  
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).
)
$25,333 - $49,496  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 144
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
$11.38 - $20.03  
   
Overtime
$14.09 - $28.76  
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
$300.50 - $6,687  
   
Commission
$0.00 - $9,274  
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).
)
$25,333 - $49,496  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 216

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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Though it's uncommon, some Financial Services Representatives move into roles as Banking Branch Managers, where pay is an average $52K per year.

Financial Service Representative (FSR) Job Listings

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Popular Employer Salaries for Financial Services Representative


Many Financial Services Representatives can be found at TD Bank, N.A., State Employees' Credit Union, State Employees Credit Union - North Carolina, Bank of The West, and TD Banknorth, firms that are at the top of the field. The biggest paychecks can be found at Charles Schwab & Co., Inc. — the median salary there is $50K. Other big spenders include TD Banknorth, Fidelity Investments, and TD Bank, N.A., top-paying firms where Financial Services Representatives see paychecks nearing $46K, $43K, or $41K.

Relative to other names in the field, compensation is very low at State Employees Credit Union - North Carolina — the median salary comes to just $28K, 79 percent lower than the top payer. Bank of The West, State Employees' Credit Union, and TD Bank, N.A. also scrape the bottom of the pay scale, with median earnings hovering around $29K, $33K, and $41K.

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 seem to negatively impact pay include Banking and Cash Handling. Those proficient in Customer Service are, more often than not, 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.


Experience does not seem to be a strong driver of pay increase in this role. 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. On average, Financial Services Representatives make $37K following one to two decades on the job. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $39K.

Related Job Salaries

Key Stats for Financial Services Representative

Gender

Female
59 %
Male
41 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 51 votes.
Less than 1 year
9%
1-4 years
52%
5-9 years
20%
10-19 years
13%
20 years or more
6%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Financial Services Representative Salaries

Late-Career
▲13%

Experienced
▲6%

Mid-Career
▲4%

National Average
$35,000

▼2%

Skills That Affect Financial Services Representative Salaries

Oral / Verbal Communication
▲3%

Financial Analysis
▲2%

Customer Relationship Management (CRM)
▲2%


▲1%

Insurance
▼0%

National Average
$35,000

Cash Handling
▼3%

Banking
▼8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 51 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
9%
1-4 years
52%
5-9 years
20%
10-19 years
13%
20 years or more
6%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 74%
vision benefits
Vision: 65%
dental benefits
None: 14%
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