Financial Services Representative Salary

Pay for Financial Services Representatives in the United States sits in the ballpark of $15.85 per hour. In the world of Financial Services Representatives, overall income ranges from $26K near the bottom to $50K at the top; this can include more than $7K from bonuses and more than $20K from profit sharing in exceptional cases. Earnings for this group are mostly affected by the particular firm, followed by the particular city and experience level. The majority of Financial Services Representatives (61 percent) who took the survey are female. Medical benefits are awarded to a large number, and a fair number earn dental coverage. Job satisfaction is reported as high by the vast majority of workers. Respondents to the PayScale salary survey provided the data for this report.
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$29,197 - $52,356
$29K
$39K
$52K
MEDIAN: $39,003
10%
50%
90%

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$11.92 - $21.46
$12
$16
$21
MEDIAN: $16.06
10%
50%
90%

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$0$52K
Salary $29,197 - $52,356
Bonus $409.63 - $8,183
Profit Sharing $309.13 - $19,392
Commission $0.00 - $11,878
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).
)
$26,286 - $51,235
  • Country: United States
  • Currency: USD
  • Updated: 15 Oct 2017
  • Individuals Reporting: 134
Hourly Data $0$33
Hourly Rate $11.92 - $21.46
Overtime $14.29 - $33.19
Annual Data $0$51K
Bonus $409.63 - $8,183
Commission $0.00 - $11,878
Profit Sharing $309.13 - $19,392
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).
)
$26,286 - $51,235
  • Country: United States
  • Currency: USD
  • Updated: 15 Oct 2017
  • Individuals Reporting: 219

Job Description for Financial Services Representative

A financial services representative works for a bank or other financial establishment to assist customers with a variety of the investments. They may also serve as the point person for handling regular loan applications for home mortgages, which includes providing information to customers on the application process. The financial services representative must be familiar with - and able to speak to customers about - a variety of investment strategies to suit the varying needs of the bank’s customers. The representative must be able to gather information from clients such as age, time until retirement, family size, and income to help the client determine appropriate investment options. The representative also looks at the client’s current investments and debts, and they may also be expected to make recommendations related to reducing payments or interest. Many banks also sell investment insurance and life-event insurance. The financial services representative presents these products to clients and customers as well.

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Financial Services 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 Services Representative


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Advancing into a Banking Branch Manager role seems to be a popular career move for Financial Services Representatives, and folks who currently work in the latter position report a notably larger median income of $52K per year.

Financial Services Representative Job Listings

Popular Employer Salaries for Financial Services Representative


TD Bank, N.A., State Employees' Credit Union, State Employees Credit Union - North Carolina, Fidelity Investments, and Bank of The West are leaders in the field that employ a large number of Financial Services Representatives. Those at Charles Schwab & Co., Inc. can expect to make the most, with the company offering a median salary of $50K. Soaring salaries can also be found at TD Banknorth, Fidelity Investments, and TD Bank, N.A., where earnings of $46K, $43K, or $41K are standard for Financial Services Representatives.

Relative to other names in the field, compensation is very low at State Employees Credit Union - North Carolina — the median salary comes to just $28K, 79 percent lower than the top payer. Also sliding in at the lower end of the scale are Bank of The West ($29K), State Employees' Credit Union ($33K), and TD Bank, N.A. ($41K).

Popular Skills for Financial Services Representative


Survey results imply that Financial Services Representatives put a diverse skill set to use. Most notably, skills in Oral / Verbal Communication, Customer Relationship Management, Financial Analysis, and Customer Service are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Banking and Cash Handling. For most people, competency in Customer Service indicates knowledge of Insurance.

Pay by Experience Level for Financial Services Representative

Pay by Experience for a Financial Services Representative has a positive trend. An entry-level Financial Services Representative with less than 5 years of experience can expect to earn an average total compensation of $34,000 based on 242 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Services Representative with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $36,000 based on 83 salaries. An experienced Financial Services Representative which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $37,000 based on 57 salaries. A Financial Services Representative with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $40,000 based on 22 salaries.

Related Job Salaries

Key Stats for Financial Services Representative

Gender

Female
61 %
Male
39 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 67 votes.
Less than 1 year
8%
1-4 years
51%
5-9 years
16%
10-19 years
18%
20 years or more
7%

Experience Affects Financial Services Representative Salaries

▲11%

▲3%

▼0%

National Average
$36,000

▼5%

Skills That Affect Financial Services Representative Salaries

National Average
$36,000

Oral / Verbal Communication
▼1%


▼2%

Financial Analysis
▼2%

Customer Relationship Management (CRM)
▼2%

Insurance
▼4%

Cash Handling
▼7%

Banking
▼12%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 67 votes.

Gender

Female
61 %
Male
39 %

Years of Experience

Less than 1 year
8%
1-4 years
51%
5-9 years
16%
10-19 years
18%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 81%
dental benefits
Dental: 73%
vision benefits
Vision: 65%
no benefits
None: 15%