Financial and Purchasing Management Careers | Financial Services Representative

Financial Services Representative

Career Area: Finance

Occupation Group: Financial Sales

Salary

Percentile wages tell how much a certain percentage of an overall population in a geographic area or within a given industry or field makes. The percentile wage estimate is the value of a wage below which a certain percent of workers fall.

An example would be the 25th percentile, 25 percent of workers employed in that occupation earn less and 75 percent earn more than the estimated wage value. At the 75th percentile, 75 percent of workers employed in that occupation earn less and 25 percent earn more than the estimated wage value.

A typical Financial Services Representative earns the following wages (national and state):

State

The average salary in North Carolina for those pursuing this career is $55,274

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

National

The average salary in the United States for those pursuing this career is $56,271

*The salaries depicted here are representative of the range of salaries posted in job listings over the past year. Living wage in North Carolina is $30,000.

What Does a Professional in this Career Do?

Sells financial services and advises clients on financial services products, including banking services, securities and insurance.

Employment Trends

The job demand and job growth statistics shown here were derived from job posts over the past year. Expected job growth projections are extrapolated from year-over-year job post listing history.

Job demand and job growth is expected at the following rates:

LocationGrowth
North Carolina1271+16.3%
Nationwide23249+6.2%

Skills

A professional in this position typically utilizes the following skills in the course of everyday work in this exciting and challenging field:

Baseline Skills

The following are baseline skills every Financial Services Representative is expected to have in order to experience success in this field:

  • Communication Skills: The ability to convey information to another effectively and efficiently.
  • Building Effective Relationships: Building relationships is about your ability to identify and initiate working relationships and to develop and maintain them in a way that is of mutual benefit to both yourself and the other party. Good relationships are the key to getting things done and are essential when your success is dependent on others.
  • Self-Starter: A self-starter is a person who has initiative
  • Organizational Skills: Experience with a systematic process of structuring, integrating, co-ordinating task goals, and activities to resources in order to attain objectives.
  • Problem Solving: Problem solving consists of using generic or ad hoc methods, in an orderly manner, for finding solutions to problems.

Specialized Skills

These skills are specific to working in this career:

  • Sales: Experience selling products or services to consumers.
  • Customer Service: Working experience with the provision of service to customers before, during and after a purchase.
  • Product Sales: Demonstrated expertise in the selling of an artifact that is produced, is quantifiable, and can be either an end item in itself or a component item.
  • Customer Contact: Experience working with business processes and technologies that are designed to engage customers and facilitate communication by a variety of channels.
  • Financial Services Industry Experience: Financial services are the economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, individual managers and some government-sponsored enterprises.

Distinguishing Skills

Any Financial Services Representative that possesses the following skills will stand out against the competition:

  • Annuities: Working experience of Annuities. An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees. Annuities are created and sold by financial institutions, which accept and invest funds from individuals and then, upon annuitization, issue a stream of payments at a later point in time.
  • Financial Sales: Working experience selling financial services or products to private individuals or organizations

Salary Boosting Skills

A professional who wishes to excel in this career path may consider developing the following highly valued skills:

  • Annuities: Working experience of Annuities. An annuity is a financial product that pays out a fixed stream of payments to an individual, primarily used as an income stream for retirees. Annuities are created and sold by financial institutions, which accept and invest funds from individuals and then, upon annuitization, issue a stream of payments at a later point in time.
  • Insurance Sales:
  • Financial Sales: Working experience selling financial services or products to private individuals or organizations

Experience

This position typically requires the following level of experience. The numbers presented in the pie charts below were derived from actual job posts over the past year. Not all job postings list experience requirements.

Experience Required%
0 to 2 years64%
3 to 5 years27%
6 to 8 years3%

Many of the programs offered through NC State are designed for working professionals who need additional credentials to enhance existing work experience.

Students who do not have the expected level of experience may wish to look into internship and employment opportunities.

Common Job Titles

It is possible to find work in this field in positions commonly listed as the following job titles:

  • Junior Financial Representative
  • Financial Representative
  • Financial Services Representative
  • Financial Specialist
  • Solutions Advisor

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