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Financial Services Representative Salary

Financial Services Representatives in the United States are not likely to strike it rich; they only make around $35K per year on average. Total cash incomes of Financial Services Representatives run from $25K to $46K, depending on bonuses that can occasionally exceed $5K, profit sharing that reaches $5K, and some commissions of nearly $13K. While the particular city and years of experience impact pay for this group, the company is the most influential factor. The majority of workers are highly satisfied with their job. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half. This snapshot results from replies to PayScale's salary survey.
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$24,867 - $46,594
(Median)
$25K
$35K
$47K
MEDIAN: $35,443
10%
50%
90%

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$10.84 - $19.36
(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
$24,867 - $46,594  
   
Bonus
$0.00 - $5,239  
Profit Sharing
$489.36 - $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).
)
$24,892 - $46,432  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 267
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
$10.84 - $19.36  
   
Overtime
$16.12 - $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 - $5,239  
   
Commission
$0.00 - $12,766  
Profit Sharing
$489.36 - $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).
)
$24,892 - $46,432  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 259

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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 might see a strong upturn in salary after transitioning into upper-level roles such as Banking Branch Manager, a seemingly popular career choice. People currently working in the latter position report a noticeably higher median income of $51K per year.

Financial Service Representative (FSR) Job Listings

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Popular Employer Salaries for Financial Services Representative


Financial Services Representatives flock to TD Bank, N.A., State Employees Credit Union - North Carolina, Fidelity Investments, State Employees' Credit Union, and Bank of The West, highly regarded companies that employ a generous number of people in this profession. 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.

While select State Employees Credit Union - North Carolina employees may bring in up to $33K, a median salary of only $28K — the lowest in the field — suggests a serious lag in the earnings department.


Survey takers who work as 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. At the other end of the pay range are skills like Customer Service. Aptitude in Customer Service tends to also indicate an understanding of Sales.

Pay by Experience Level for Financial Services Representative

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


Experience and pay tend to be weakly linked for Financial Services Representatives — those with more experience do not necessarily bring in higher earnings. People who have worked for fewer than five years bring home $32K on average. Median compensation in the five-to-10 year group, however, is higher at approximately $35K. Financial Services Representatives who work for 10 to 20 years in their occupation tend to earn about $39K. Financial Services Representatives with more than 20 years of experience report incomes that are only modestly higher; the median for these old hands hovers around $41K.

Related Job Salaries

United States (change)

Experience Affects Financial Services Representative Salaries

Late-Career
up arrow 20%

Experienced
up arrow 14%

Mid-Career
up arrow 3%

National Average
$34,000


Skills That Affect Financial Services Representative Salaries

Insurance
up arrow 6%

Sales
0%

National Average
$34,000

Customer Service
up arrow 3%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 94 votes.

Gender

Female
59 %
Male
41 %

Years of Experience

Less than 1 year
12%
1-4 years
50%
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: 58% employee benefits None: 14%