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Financial Services Representative Salary

Financial Services Representatives in the United States may have to scrimp and save; the median compensation is $35K annually. Cash earnings of Financial Services Representatives — including $6K in bonuses, $5K in profit sharing proceeds, and $13K in commissions near the top of the pay scale — stretch from approximately $25K to approximately $46K depending on individual performance. The most influential factor affecting pay for this group is the company, though geography and experience level have a (lesser) impact as well. Most Financial Services Representatives report high levels of job satisfaction. Women Financial Services Representatives who took the survey just slightly outnumber men. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Participants in PayScale's salary questionnaire provided the particulars of this report.
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$24,788 - $46,018
(Median)
$25K
$35K
$46K
MEDIAN: $34,964
10%
50%
90%

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$10.58 - $19.17
(Median)
$11
$15
$19
MEDIAN: $14.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$16K$32K$48K
Salary
$24,788 - $46,018  
   
Bonus
$0.00 - $5,500  
Profit Sharing
$493.16 - $4,949  
Commission
$0.00 - $12,513  
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).
)
$24,566 - $46,156  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 271
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$10$20$30
Hourly Rate
$10.58 - $19.17  
   
Overtime
$16.16 - $29.87  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$20K$40K$60K
Bonus
$0.00 - $5,500  
   
Commission
$0.00 - $12,513  
Profit Sharing
$493.16 - $4,949  
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).
)
$24,566 - $46,156  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 249
United States (change)

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 upper level Banking Branch Manager positions, where pay 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


Fidelity Investments offers the largest salaries in town ($44K on average), but the considerable range in workers' salaries creates a rather varied pay scale that stretches from $32K to $58K.

Offering a median of only $28K, State Employees Credit Union - North Carolina pays the least. Moreover, the compensation range seems pretty narrow; employees make $18K on the lower end and $33K on the higher end.


Financial Services Representatives usually report a few specific skills. Those who have experience with Insurance, Sales, and Customer Service can expect to be compensated well for these skills. Skills that seem to negatively impact pay include Customer Service. It is not unusual for someone who knows Customer Service to be familiar with Sales as well.

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. Those who have worked for fewer than five years take home a median salary of $32K, and workers with five to 10 years of experience earn a higher $35K on average. Financial Services Representatives bring in $39K after working for 10 to 20 years. More than 20 years of experience mean a somewhat bigger median paycheck of $41K, but it's not much more than what less experienced people make.

Related Job Salaries

Experience Affects Financial Services Representative Salaries

Late-Career
up arrow 23%

Experienced
up arrow 15%

Mid-Career
up arrow 3%

National Average
$34,000

Entry-Level
up arrow 4%

Skills That Affect Financial Services Representative Salaries

Insurance
up arrow 7%

Sales
up arrow 1%

National Average
$34,000

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 103 votes.

Gender

Female
58 %
Male
42 %

Years of Experience

Less than 1 year
12%
1-4 years
50%
5-9 years
19%
10-19 years
13%
20 years or more
5%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 73%
vision benefits Vision: 57% employee benefits None: 14%