Wholesaler, Financial Services Salary

Annual compensation for Financial Services Wholesalers is typically heavily supplemented by bonuses and commissions and totals around $89K (including $64K from bonuses and commissions). Total cash earnings of Financial Services Wholesalers range from $49K on the low end to $261K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $101K and $51K, respectively. Career duration is the biggest factor affecting pay for this group, followed by geography. Most Financial Services Wholesalers survey respondents are men (70 percent). Nearly all enjoy medical while most get dental coverage. Vision coverage is also available to a strong majority. Job satisfaction is high and work is enjoyable for most Financial Services Wholesalers. The information for this snapshot was generated by responses to the PayScale salary survey.
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$40,430 - $124,369
(Median)
$40K
$62K
$120K
MEDIAN: $61,869
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$90K$180K$270K
Salary
$40,430 - $124,369  
   
Bonus
$2,409 - $101,014  
Profit Sharing
$402.68 - $50,684  
Commission
$12,000 - $245,659  
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).
)
$48,861 - $261,145  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 161
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Job Description for Wholesaler, Financial Services

Wholesalers of financial services are responsible for facilitating territorial plans, expanding client list, and meeting financial services objectives on behalf of their company. Some of their main responsibilities include working with other firms to delimit zones and reaching agreements for wholesaling services in certain areas.

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Wholesaler, Financial Services Tasks

  • 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.

Wholesaler, Financial Services Job Listings

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Financial Services Wholesalers generally report applying a varied skill set to their work. Fortunate workers who know Sales can expect a significant pay bump, scoring salaries 22 percent above average. Those listing Market Research as a skill should be prepared for drastically lower pay. Microsoft Office and Windows Operating System General Use also typically command lower compensation.

Pay by Experience Level for Wholesaler, Financial Services

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


Experience seems to be a major factor in determining the incomes of Financial Services Wholesalers. Relatively untried employees who have fewer than five years of experience earn around $66K on average. People who have worked for five to 10 years can expect a higher median salary of $89K. Experienced professionals — those with 10 to 20 years in the field — see salaries in the six-figure territory, securing around $141K on average. Financial Services Wholesalers who surpass 20 years on the job report pay that isn't as high as one would expect; the median compensation for this crowd sits around $165K.

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Experience Affects Wholesaler, Financial Services Salaries

Late-Career
up arrow 85%

Experienced
up arrow 58%


National Average
$89,000


Skills That Affect Wholesaler, Financial Services Salaries

up arrow 22%

National Average
$89,000

Powerpoint
up arrow 7%

Marketing Communications
up arrow 20%

Microsoft Word
up arrow 20%

Windows Operating System General Use
up arrow 21%

Microsoft Office
up arrow 22%

Market Research
up arrow 23%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 28 votes.

Gender

Female
30 %
Male
70 %

Years of Experience

Less than 1 year
1%
1-4 years
25%
5-9 years
30%
10-19 years
32%
20 years or more
12%

Common Health Benefits

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