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Financial Services Representative Salary

Those pursuing careers as Financial Services Representatives in the United States may have to make do with less; average incomes for people in this area hover around only $36K annually. Final incomes of Financial Services Representatives generally vary between $25K and $46K; more lucrative packages include potential for bonuses, profit sharing, and commissions — occasionally as high as $5K each for the first two and $13K for the last. Compensation for this group is mainly affected by the particular firm, but geography and years of experience are influential factors as well. Medical benefits are awarded to most, and a strong majority earn dental coverage. Most Financial Services Representatives like their work and job satisfaction is high. Financial Services Representatives survey participants are largely women, dominating at 60 percent. This report is based on answers to PayScale's salary questionnaire.
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$24,990 - $46,171
(Median)
$25K
$36K
$46K
MEDIAN: $35,549
10%
50%
90%

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$10.92 - $19.48
(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
$24,990 - $46,171  
   
Bonus
$0.00 - $5,169  
Profit Sharing
$734 - $4,966  
Commission
$0.00 - $12,766  
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).
)
$24,997 - $46,482  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 264
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$11$22$33
Hourly Rate
$10.92 - $19.48  
   
Overtime
$16.16 - $30.01  
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$22K$44K$66K
Bonus
$0.00 - $5,169  
   
Commission
$0.00 - $12,766  
Profit Sharing
$734 - $4,966  
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).
)
$24,997 - $46,482  
Country: United States | Currency: USD | Updated: 16 May 2015 | Individuals Reporting: 263
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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 who move on to become Banking Branch Managers may enjoy significant pay raises, as Banking Branch Managers get paid an average of $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, Fidelity Investments, State Employees' Credit Union, and Bank of The West are top firms with a reputation for hiring a great number of Financial Services Representatives. Although Fidelity Investments leads the field in pay with a median salary of $44K, employees there receive a wide spread of salaries, from $32K on the low end all the way up to $58K at the top.

State Employees Credit Union - North Carolina offers the smallest salaries in town — $28K on average — but the considerable range in workers' salaries (stretching from $18K to $33K) creates a rather varied pay scale.


Typical Financial Services Representatives report a focused set of job skills. Those who have experience with Insurance, Sales, and Customer Service can expect to be compensated well for these skills. 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. Although individuals who have less than five years' experience earn $32K on average, people with five to 10 years benefit from a notably larger average of $36K. Financial Services Representatives with one to two decades of relevant experience report an average salary of approximately $39K. Veterans who have surpassed the 20-year mark may make only slightly more than those who are navigating the mid-career stage; the more senior group reports median earnings of around $41K.

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Experience Affects Financial Services Representative Salaries

Late-Career
up arrow 19%

Experienced
up arrow 14%

Mid-Career
up arrow 4%

National Average
$34,000


Skills That Affect Financial Services Representative Salaries

Insurance
up arrow 5%

Sales
up arrow 1%

National Average
$34,000

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 91 votes.

Gender

Female
60 %
Male
40 %

Years of Experience

Less than 1 year
12%
1-4 years
49%
5-9 years
21%
10-19 years
13%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 75%
vision benefits Vision: 60% employee benefits None: 13%
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