On average, commissions constitute a fair portion (over a third) of final income for Financial Services Wholesalers. That final number averages out to $108K across the industry. Career length is the biggest factor affecting pay for this group, followed by geography. Most enjoy medical while a large number get dental coverage. Vision coverage is also available to a strong majority. Making up 76 percent of those who took the survey, male Financial Services Wholesalers greatly outnumber their female counterparts. The majority of Financial Services Wholesalers claim high levels of job satisfaction. The numbers in this rundown were provided by PayScale's salary survey participants.
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$49,132 - $122,308
$49K
$72K
$120K
MEDIAN: $72,143
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$80K$160K$240K
Salary
$49,132 - $122,308  
   
Bonus
$4,932 - $182,461  
Profit Sharing
$18,000  
Commission
$16,218 - $167,675  
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).
)
$50,167 - $236,997  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 44

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United States (change)

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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

  • 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.
  • Strive to become a knowledgeable resource to the broker dealer network and internal associates on all aspects of the investment industry, competitors, and products available in the market
  • 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.

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Pay by Experience Level for Wholesaler, Financial Services

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


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. In this occupation, salaries for the relatively untested average out to $65K, but folks in the five-to-10 year range enjoy a much heftier median of $112K. After working for 10 to 20 years, Financial Services Wholesalers make a median salary of $118K. Average wages for folks with more than 20 years of experience come out to around $228K.

Related Job Salaries

Key Stats for Wholesaler, Financial Services

Gender

Female
24 %
Male
76 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 3 votes.
Less than 1 year
2%
1-4 years
20%
5-9 years
22%
10-19 years
38%
20 years or more
18%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Wholesaler, Financial Services Salaries

Late-Career
up arrow 110%

Experienced
up arrow 9%


National Average
$108,000


Skills That Affect Wholesaler, Financial Services Salaries

up arrow 10%

National Average
$108,000

Powerpoint
up arrow 24%

Marketing Communications
up arrow 34%

Microsoft Word
up arrow 35%

Windows Operating System General Use
up arrow 35%

Microsoft Office
up arrow 36%

Market Research
up arrow 36%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 3 votes.

Gender

Female
24 %
Male
76 %

Years of Experience

Less than 1 year
2%
1-4 years
20%
5-9 years
22%
10-19 years
38%
20 years or more
18%

Common Health Benefits

medical benefits
Medical: 88%
dental benefits
Dental: 81%
vision benefits
Vision: 75%
dental benefits
None: 9%
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