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Financial Specialist Salary

Financial Specialists in the United States pull down an average of $45K annually. In the world of Financial Specialists, overall income ranges from $29K near the bottom to $70K at the top; this can include more than $10K from bonuses and more than $6K from profit sharing in exceptional cases. Geography is the biggest factor affecting pay for this group, followed by career duration. More than half of Financial Specialists (66 percent) survey participants are women. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Job satisfaction for Financial Specialists is high. The figures in this rundown are based on the results of PayScale's salary questionnaire.
$31,929 - $71,827
(Median)
32K
45K
57K
72K
MEDIAN: $44,624
10%
50%
75%
90%

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$11.46 - $23.53
(Median)
11
14
17
20
24
MEDIAN: $16.00
10%
25%
50%
75%
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$24K$48K$72K
Salary
$31,929 - $71,827  
   
Bonus
$0.00 - $9,963  
Profit Sharing
$1.07 - $6,456  
Commission
$5,000 - $19,774  
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).
)
$29,048 - $70,137  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 225
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$13$26$39
Hourly Rate
$11.46 - $23.53  
   
Overtime
$15.55 - $38.31  
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$26K$52K$78K
Bonus
$0.00 - $9,963  
   
Commission
$5,000 - $19,774  
Profit Sharing
$1.07 - $6,456  
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).
)
$29,048 - $70,137  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 123
United States (change)

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 who transition into an upper level Private Banker role may receive a large increase in pay as the position pays an average $78K per year. The most common career progression for Financial Specialists leads to becoming a Banking Branch Manager, where average pay is $51K annually. However, many Financial Specialists also opt to become Personal Bankers. Typically, a Personal Banker brings home $35K.

Financial Specialist Job Listings

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Survey results suggest that Financial Specialists put a wide range of professional skills to use. Most notably, facility with Banking, Sales, and General Ledger Accounting are correlated to pay that is significantly above average, leading to increases of 56 percent, 25 percent, and 22 percent, respectively. Skills that seem to negatively impact pay include Customer Service, Billing, and Accounting. Those with knowledge of Accounting tend to be skilled in Financial Analysis as well.

Pay by Experience Level for Financial Specialist

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


For Financial Specialists, level of experience appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Salaries of relatively inexperienced workers fall in the neighborhood of $39K, but folks who have racked up five to 10 years see a notably higher median of $45K. For Financial Specialists, 10 to 20 years of experience on the job amounts to an average salary of $50K. Financial Specialists with more than 20 years of experience report incomes that are no higher than those with 10 to 20 years on the job.

Related Job Salaries

Experience Affects Financial Specialist Salaries

Late-Career
up arrow 19%

Experienced
up arrow 17%


National Average
$42,000


Skills That Affect Financial Specialist Salaries

Banking
up arrow 56%

Sales
up arrow 25%

General Ledger Accounting
up arrow 22%

Microsoft Excel
up arrow 15%


National Average
$42,000

Accounting
up arrow 4%

Customer Service
up arrow 12%

Billing
up arrow 12%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 101 votes.

Gender

Female
66 %
Male
34 %

Years of Experience

Less than 1 year
4%
1-4 years
39%
5-9 years
27%
10-19 years
20%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 88% dental benefits Dental: 75%
vision benefits Vision: 66% employee benefits None: 10%