Internal Wholesaler Salary

The median total income of Internal Wholesalers is around $64K, and for the average worker in this area, a good chunk of that (just under a third, in fact) comes from commissions. In the world of Internal Wholesalers, overall cash allowance can occasionally include more than $31K from bonuses and, in some exceptional cases, $9K from profit sharing, causing incomes to vary widely between $40K and $91K. Geography is the biggest factor affecting pay for this group, followed by experience level. Generally, women make up less than a third of all Internal Wholesalers who answered the questionnnaire. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to the larger part. The majority of workers are highly satisfied with their job. This snapshot results from replies to PayScale's salary survey.

$37,295 - $65,968
(Median)
$37K
$49K
$66K
MEDIAN: $48,594
10%
50%
90%

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$11.85 - $33.11
(Median)
$12
$20
$33
MEDIAN: $19.00
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$31K$62K$93K
Salary
$37,295 - $65,968  
   
Bonus
$1,007 - $30,639  
Profit Sharing
$1,007 - $9,123  
Commission
$7,891 - $40,107  
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).
)
$39,548 - $91,055  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 209
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$17$34$51
Hourly Rate
$11.85 - $33.11  
   
Overtime
$32.00  
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$50K$100K$150K
Bonus
$1,007 - $30,639  
   
Commission
$7,891 - $40,107  
Profit Sharing
$1,007 - $9,123  
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).
)
$39,548 - $91,055  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 13
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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


Just a handful of professional skills are reported by Internal Wholesalers who took the survey. Most notably, skills in Financial Analysis, Sales, Customer Service, and Customer Relationship Management (CRM) are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Investment Management, Customer Relationship Management, and Customer Service. Experience with Customer Relationship Management is often linked with knowledge of Sales.

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. Salaries of relatively inexperienced workers fall in the neighborhood of $59K, but folks who have racked up five to 10 years see a notably higher median of $70K. After working for 10 to 20 years, Internal Wholesalers make a median salary of $71K. Veterans who have acquired more than 20 years report a median income of $75K, which is generally higher than the pay reported by other tenure groups.

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Experience Affects Internal Wholesaler Salaries

Late-Career
up arrow 18%

Experienced
up arrow 10%

Mid-Career
up arrow 9%

National Average
$64,000


Skills That Affect Internal Wholesaler Salaries

Financial Analysis
up arrow 4%

National Average
$64,000

Sales
up arrow 2%

Customer Service
up arrow 4%

Customer Relationship Management (CRM)
up arrow 6%

Investment Management
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 39 votes.

Gender

Female
21 %
Male
79 %

Years of Experience

Less than 1 year
3%
1-4 years
45%
5-9 years
32%
10-19 years
17%
20 years or more
4%

Common Health Benefits

medical benefits
Medical: 91%
dental benefits
Dental: 82%
medical benefits
Vision: 69%
dental benefits
None: 7%
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