Financial Representative Salary

Total annual pay for Financial Representatives is approximately $43K, and commissions account for a significant portion of this final number — over a third on average. In the world of Financial Representatives, overall cash allowance can occasionally include more than $8K from bonuses and, in some exceptional cases, $10K from profit sharing, causing incomes to vary widely between $26K and $55K. Compensation for this group is mainly affected by location, but the specific employer and experience level are influential factors as well. Medical benefits are awarded to most, and a strong majority earn dental coverage. Financial Representatives who participated in the survey are largely men, dominating at 65 percent. The majority of Financial Representatives claim high levels of job satisfaction. This snapshot results from replies to PayScale's salary survey.
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$24,699 - $54,965
$25K
$43K
$55K
MEDIAN: $42,713
10%
50%
90%

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$10.81 - $21.45
$11
$18
$21
MEDIAN: $18.17
10%
50%
90%

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$0$99K
Salary $24,699 - $54,965
Bonus $517 - $8,109
Profit Sharing $0.00 - $10,213
Commission $-0.50 - $99,329
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).
)
$25,089 - $57,615
  • Country: United States
  • Currency: USD
  • Updated: 13 Oct 2017
  • Individuals Reporting: 117
Hourly Data $0$32
Hourly Rate $10.81 - $21.45
Overtime $22.35 - $32.69
Annual Data $0$99K
Bonus $517 - $8,109
Commission $-0.50 - $99,329
Profit Sharing $0.00 - $10,213
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).
)
$25,089 - $57,615
  • Country: United States
  • Currency: USD
  • Updated: 13 Oct 2017
  • Individuals Reporting: 48

Job Description for Financial Representative

A financial representative works at a financial institution and offers services to clients. This is a sales position, and the representative is expected to acquire new customers via referrals, advertising, cold-calling, networking, and/or lead follow-ups. Commission is usually offered based on sales, and there may also be targets that representatives must reach. When working with clients, a financial representative should have a solid understanding of their needs and their financial goals. The representative should also understand the performance of the clients’ portfolios and make changes (or offer to do so) when necessary. They should also follow-up with current clients to make sure they are satisfied with their service; when clients are dissatisfied, their representative must find a way to remedy the situation.

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Financial Representative Tasks

  • Provide financial advice and match financial products with customers' needs and goals.
  • Develop long-term rapport with customers and foster profitable relationships.
  • Monitor market trends, identify and pursue potential customer leads, and meet sales goals.
  • Discuss customers' financial concerns, questions, and needs.

Common Career Paths for Financial Representative


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Financial Representative Job Listings

Popular Employer Salaries for Financial Representative


TD Ameritrade, Inc attracts talent by shelling out the biggest paychecks in the area — the median in that office is $48K.

Pay by Experience Level for Financial Representative

Pay by Experience for a Financial Representative has a positive trend. An entry-level Financial Representative with less than 5 years of experience can expect to earn an average total compensation of $43,000 based on 152 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Representative with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $41,000 based on 25 salaries. An experienced Financial Representative which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $41,000 based on 22 salaries. A Financial Representative with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $50,000 based on 5 salaries.

Financial Representative Reviews

Q: What is it like working as a Financial Representative?

Financial Representative in Miami:
Pros: Medicine. Hours. Benefits.
Cons: Customers. Staff. Position.

Related Job Salaries

Key Stats for Financial Representative

Gender

Female
40 %
Male
60 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 18 votes.
Less than 1 year
22%
1-4 years
54%
5-9 years
10%
10-19 years
12%
20 years or more
2%

Experience Affects Financial Representative Salaries

Late-Career
▲15%

National Average
$44,000

▼2%

Mid-Career
▼5%

Experienced
▼5%

Skills That Affect Financial Representative Salaries

Financial Advisor
▲15%


▼0%

National Average
$44,000

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 18 votes.

Gender

Female
40 %
Male
60 %

Years of Experience

Less than 1 year
22%
1-4 years
54%
5-9 years
10%
10-19 years
12%
20 years or more
2%

Common Health Benefits

medical benefits
Medical: 85%
dental benefits
Dental: 74%
vision benefits
Vision: 55%
no benefits
None: 13%