Wholesaler, Financial Services Salary

On average, commissions constitute a fair portion (just over two-fifths) of final income for Financial Services Wholesalers. That final number averages out to $84K across the industry. Cash earnings for Financial Services Wholesalers — which occasionally include more than $100K from bonuses and more than $51K from profit sharing — stretch from around $48K to approximately $241K. Career duration is the biggest factor affecting pay for this group, followed by geography. Most Financial Services Wholesalers report high levels of job satisfaction. Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a strong majority. This report is based on answers to PayScale's salary questionnaire.
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$39,733 - $120,883

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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$90K$180K$270K
Salary
$39,733 - $120,883  
   
Bonus
$1,973 - $99,905  
Profit Sharing
$402.68 - $50,684  
Commission
$10,000 - $170,000  
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).
)
$48,475 - $240,526  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 174
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Job Description for Wholesaler, Financial Services

  • Proactively educate financial advisors/registered representatives regarding company's distributed products and benefits and make recommendations to clients.
  • Provide appropriate guidance to the financial advisors/registered representatives regarding the company's operating results and business strategies.
  • Grow company's market share within the territory through consultation with financial advisors/registered representatives on company's products.
  • Develop new and build upon existing relationships with financial advisors/ registered representatives in the Broker Dealer network within their territory.
  • Maintain knowledge of company's business and market performance/position in order to provide guidance to financial advisors/registered representatives related to company's distributed products.

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Overall, survey participants reported applying a fair number of skills to their work. Fortunate workers who know Sales can expect a significant pay bump, scoring salaries 38 percent above average. Skills that are correlated to lower pay, on the other hand, include Microsoft Office, Market Research, and Windows Operating System General Use.

Pay by Experience Level for Wholesaler, Financial Services

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


Financial Services Wholesalers generally obtain higher compensation for more plentiful past experience. Salaries for inexperienced workers average out to $87K, and those with five to 10 years' experience earn a higher median of $64K. Experienced professionals — those with 10 to 20 years in the field — see salaries in the six-figure territory, securing around $137K on average. More than 20 years of experience mean a somewhat bigger median paycheck of $150K, but it's not much more than what less experienced people make.

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Experience Affects Wholesaler, Financial Services Salaries

Late-Career
up arrow 78%

Experienced
up arrow 63%


National Average
$84,000


Skills That Affect Wholesaler, Financial Services Salaries

up arrow 38%

National Average
$84,000

Powerpoint
up arrow 2%

Marketing Communications
up arrow 15%

Microsoft Word
up arrow 16%

Windows Operating System General Use
up arrow 17%

Market Research
up arrow 18%

Microsoft Office
up arrow 19%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 34 votes.

Gender

Female
31 %
Male
69 %

Years of Experience

Less than 1 year
2%
1-4 years
28%
5-9 years
27%
10-19 years
33%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 96% dental benefits Dental: 87%
vision benefits Vision: 72% employee benefits None: 3%
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