Internal Wholesaler Salary

A big portion of take-home pay for Internal Wholesalers — nearly one-fourth, in fact — arrives through commissions. This profession's median overall income is approximately $63K. Total incomes of Internal Wholesalers incorporate potential for, in a few cases, more than $29K from bonuses and close to $49K from profit sharing; these performance components cause packages to range between $41K and $86K. Geography and tenure each impact pay for this group, with the former having the largest influence. Medical benefits are awarded to almost all, and a fair number earn dental coverage. Most people on this career path report moderate levels of job satisfaction. Making up 78 percent of those who took the survey, male Internal Wholesalers greatly outnumber their female counterparts. Participants in PayScale's salary questionnaire provided the particulars of this report.

$36,997 - $66,508
(Median)
$37K
$49K
$67K
MEDIAN: $48,600
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$29K$58K$87K
Salary
$36,997 - $66,508  
   
Bonus
$507 - $29,245  
Profit Sharing
$1,287 - $48,936  
Commission
$6,040 - $35,745  
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).
)
$40,990 - $85,672  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 128

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Job Description for Internal Wholesaler

Internal wholesalers work in the insurance and investment fields, and their primary function is to work closely with external vendors and financial institutions to increase sales and seek new markets for their firm. Typical employers include life insurance companies, investment banking firms, and similar institutions. These professionals typically work full time during regular business hours in an office environment. Their regular tasks include building relationships between internal advisers and external wholesale clients and providing product information to potential clients such as presentations, sales literature, individual and group meetings, and corporate workshops. They also initiate sales calls and related follow-up communication, as well as identify new corporate or regional opportunities to establish new clients and enter new markets.

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Internal Wholesaler Tasks

  • Increase market penetration by setting appointments, delivering product updates and proactively cultivating new prospects.
  • Make outbound telephone sales calls to third party distributors within region to promote financial products.
  • Respond to inbound sales inquiries, literature requests and service issues.
  • Work in coordination with Regional Vice President to achieve regional sales goals and retain assets.
  • Resolve any operational issues as they relate to clients of the assigned territory.

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Popular Skills for Internal Wholesaler


Typical Internal Wholesalers report a focused set of job skills. Most notably, skills in Customer Relationship Management, Sales, Customer Service, and Investment Management are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Investment Management. Employees educated in Customer Relationship Management are typically practiced in Sales, too.

Pay by Experience Level for Internal Wholesaler

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


Experience and pay tend to be weakly linked for Internal Wholesalers — those with more experience do not necessarily bring in higher earnings. Respondents with less than five years' experience take home $55K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $69K. Internal Wholesalers see a median salary of $72K after reaching one to two decades on the job. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $77K.

Related Job Salaries

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Experience Affects Internal Wholesaler Salaries

Late-Career
up arrow 22%

Experienced
up arrow 14%

Mid-Career
up arrow 10%

National Average
$63,000


Skills That Affect Internal Wholesaler Salaries

Customer Relationship Management (CRM)
0%

National Average
$63,000

Sales
up arrow 2%

Customer Service
up arrow 3%

Investment Management
up arrow 7%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 22 votes.

Gender

Female
22 %
Male
78 %

Years of Experience

Less than 1 year
2%
1-4 years
38%
5-9 years
37%
10-19 years
18%
20 years or more
5%

Common Health Benefits

medical benefits Medical: 91% dental benefits Dental: 79%
vision benefits Vision: 66% employee benefits None: 9%