Wholesaler, Financial Services Salary (United States)

For Financial Services Wholesalers, commissions account for a significant portion of income and add up to more than a third of their $79,747 annual pay. Pay starts at $47,004 and can approach $217,120 per year on the higher side. Career duration is the biggest factor affecting pay for this group, followed by the particular city. Medical benefits are awarded to nearly all, and a strong majority earn dental coverage. Most Financial Services Wholesalers are men (71 percent). Job satisfaction is reported as high by the vast majority of workers. This report is based on answers to PayScale's salary questionnaire.
Wholesaler, Financial Services Salary (?
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.
)
$39,209 - $116,130
(Median)
39K
58K
77K
120K
MEDIAN: $57,887
10%
50%
75%
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$80K$160K$240K
Salary
$39,209 - $116,130  
   
Bonus
$1,993 - $95,943  
Profit Sharing
$997 - $48,479  
Commission
$10,050 - $140,624  
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).
)
$47,004 - $217,120  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 229
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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.

Wholesaler, Financial Services Job Listings

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Popular Skills for Wholesaler, Financial Services

Survey results suggest that Financial Services Wholesalers use a fairly large toolkit of professional skills. Most notably, facility with Sales and Powerpoint are correlated to pay that is significantly above average, leading to increases of 45 percent and 3 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Microsoft Office, Market Research, and Windows Operating System General Use. The majority of those who know Microsoft Office also know Marketing Communications and Market Research.

Pay by Experience Level for Wholesaler, Financial Services

Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher salaries. Workers new to the field can expect to earn $63K, increasing to $84K after five to 10 years. Earnings total $100K after one to two decades. Salaries tend to grow less rapidly after achieving 20 years of experience, with more senior Financial Services Wholesalers earning an average of $118K per year. Experienced employees who have 10-20 years of experience make up about a third of the workforce; inexperienced individuals who have been working for less than one year comprise 1 percent, and senior people with more than 20 years under their belt fill out the remaining 7 percent. More than half of respondents report having between one and nine years of experience in this field.

Pay Difference By Location

San Francisco
up arrow 35%
New York
up arrow 15%
Chicago
up arrow 7%
National Average
$80,000
Boston
up arrow 12%
Larger circles over a city indicate a job is popular in that location.
San Francisco is home to an above-average pay rate for Financial Services Wholesalers, 35 percent higher than the national average. Financial Services Wholesalers will also find cushy salaries in New York (+15 percent) and Chicago (+7 percent). The lowest-paying market is Boston, which sits 12 percent below the national average.

Related Job Salaries

Experience Affects Wholesaler, Financial Services Salaries

Late-Career
up arrow 49%
Experienced
up arrow 25%
National Average
$80,000

Skills That Affect Wholesaler, Financial Services Salaries

up arrow 45%
Powerpoint
up arrow 3%
National Average
$80,000
Marketing Communications
up arrow 9%
Microsoft Word
up arrow 11%
Windows Operating System General Use
up arrow 12%
Microsoft Office
up arrow 14%
Market Research
up arrow 14%

Job Satisfaction

Highly satisfied Image
Highly satisfied
Rated 4 out of 5 based on 56 votes.

Gender

Female
29%
female alumni
 
Male
71%
male alumni

Years of Experience

Less than 1 year
1%
1-4 years
29%
5-9 years
27%
10-19 years
36%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 96% dental benefits Dental: 87%
vision benefits Vision: 70% employee benefits None: 4%
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