Demand for Financial Specialists runs highest on the East Coast; the three top-paying cities in the United States are Washington, New York, and Philadelphia. In the world of Financial Specialists, overall cash allowance can occasionally include more than $15K from bonuses and, in some exceptional cases, $4K from profit sharing, causing incomes to vary widely between $29K and $77K. Geographic location and career duration each impact pay for this group, with the former having the largest influence. Most workers in this position report high levels of job satisfaction. Women make up the majority of Financial Specialists (67 percent) who completed the questionnaire. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to a strong majority. Respondents to the PayScale salary survey provided the data for this report.
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$34,328 - $80,725
(Median)
$34K
$49K
$81K
MEDIAN: $49,475
10%
50%
90%

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$12.26 - $25.34
(Median)
$12
$17
$25
MEDIAN: $16.00
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$27K$54K$81K
Salary
$34,328 - $80,725  
   
Bonus
$-0.48 - $15,101  
Profit Sharing
$-0.50 - $4,438  
Commission
$3,064 - $29,361  
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).
)
$29,332 - $76,997  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 230
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$14$28$42
Hourly Rate
$12.26 - $25.34  
   
Overtime
$16.85 - $40.52  
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$28K$56K$84K
Bonus
$-0.48 - $15,101  
   
Commission
$3,064 - $29,361  
Profit Sharing
$-0.50 - $4,438  
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).
)
$29,332 - $76,997  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 130
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Job Description for Financial Specialist

A financial specialist is primarily responsible for selling services and products at a financial institution and meeting with customers to understand their needs. Generally, this person should have have a high school diploma or equivalent, though many companies also require a Bachelor’s degree in a field such as Finance or Marketing and/or training or courses in economics, finance, marketing, or mathematics.

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Financial Specialist Tasks

  • Provide insight on financial trends, suggest optimization strategies, and offer insight into potential business models.
  • Submit summaries and reports documenting analyses, technical, and factual research.
  • Monitor and analyze finance numbers, providing guidance, forecasts, and issue identification.
  • Calculate and advise clients or team members on particular financial questions.

Common Career Paths for Financial Specialist


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Financial Specialists may experience a large salary bump if they progress into a role such as Private Banker. The latter position pays an average of $80K annually. Financial Specialists typically move into roles as Banking Branch Managers or Senior Financial Analysts, and those positions pay $6K more and $30K more, respectively.

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Popular Skills for Financial Specialist


Survey takers working as Financial Specialists report using a large range of professional skills. Most notably, facility with Budget Management, Financial Modeling, and Banking are correlated to pay that is significantly above average, leading to increases of 43 percent, 42 percent, and 41 percent, respectively. At the other end of the pay range are skills like Billing, Customer Service, and Accounts Payable. Most people who know Accounting also know Customer Service.

Pay by Experience Level for Financial Specialist

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


The average worker who claims fewer than five years of experience earns around $43K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $49K. The average pay reported by folks with 10 to 20 years of experience is around $55K. Survey participants with more than two decades under their belts actually report earning less than people with less experience; the former take home only $52K on average.

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Experience Affects Financial Specialist Salaries




National Average
$46,000


Skills That Affect Financial Specialist Salaries

Budget Management
up arrow 43%

Financial Modeling
up arrow 42%

Banking
up arrow 41%

General Ledger Accounting
up arrow 13%


up arrow 7%

Financial Reporting
0%

Microsoft Excel
0%

National Average
$46,000

Data Analysis
up arrow 1%

Accounting
up arrow 2%

Accounts Receivable
up arrow 12%

Accounts Payable
up arrow 12%


Billing
up arrow 18%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 52 votes.

Gender

Female
67 %
Male
33 %

Years of Experience

Less than 1 year
5%
1-4 years
44%
5-9 years
23%
10-19 years
19%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 80%
medical benefits
Vision: 74%
dental benefits
None: 10%
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