Wholesaler, Financial Services Salary

The median total income of Financial Services Wholesalers is around $84K, and for the average worker in this area, a good chunk of that (just over two-fifths, in fact) comes from commissions. In the world of Financial Services Wholesalers, overall income ranges from $48K near the bottom to $241K at the top; this can include more than $100K from bonuses and more than $51K from profit sharing in exceptional cases. Career duration is the biggest factor affecting pay for this group, followed by geography. Making up 70 percent of those who took the survey, male Financial Services Wholesalers greatly outnumber their female counterparts. Medical benefits are awarded to nearly all, and most earn dental coverage. Most Financial Services Wholesalers like their work and job satisfaction is high. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
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$39,707 - $120,997
(Median)
$40K
$60K
$120K
MEDIAN: $59,931
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$90K$180K$270K
Salary
$39,707 - $120,997  
   
Bonus
$1,965 - $100,000  
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).
)
$48,419 - $241,251  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 173
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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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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 37 percent above average. Skills that pay less than market rate 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. The average inexperienced worker earns $64K, and someone who has worked for five to 10 years can expect a bigger median salary of $87K. Professionals who spend a good 10 to 20 years in the workforce haul in an average of $137K. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $165K on average.

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Experience Affects Wholesaler, Financial Services Salaries

Late-Career
up arrow 96%

Experienced
up arrow 63%


National Average
$84,000


Skills That Affect Wholesaler, Financial Services Salaries

up arrow 37%

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
30 %
Male
70 %

Years of Experience

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

Common Health Benefits

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