What Does it Take to Be a Financial Services Sales Agent?
Occupation Description Sell financial services, such as loan, tax, and securities counseling to customers of financial institutions and business establishments.
What Do Financial Services Sales Agents Do On a Daily Basis?
- Sell services or equipment, such as trusts, investments, or check processing services.
- Prepare forms or agreements to complete sales.
- Contact prospective customers to present information and explain available services.
- Develop prospects from current commercial customers, referral leads, or sales or trade meetings.
- Evaluate costs and revenue of agreements to determine continued profitability.
- Review business trends to advise customers regarding expected fluctuations.
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What Skills Do You Need to Work as a Financial Services Sales Agent?
When polled, Financial Services Sales Agents say the following skills are most frequently used in their jobs:
Persuasion: Persuading others to change their minds or behavior.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Speaking: Talking to others to convey information effectively.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Social Perceptiveness: Being aware of others’ reactions and understanding why they react as they do.
Related Job Titles for this Occupation:
- Wholesale Account Executive
- Account Executive
- Select Banker
- Money Manager
- Inside Sales Representative
Are There Job Opportunities for Financial Services Sales Agents?
In 2016, there was an estimated number of 375,700 jobs in the United States for Financial Services Sales Agent. New jobs are being produced at a rate of 6.2% which is above the national average. The Bureau of Labor Statistics predicts 23,200 new jobs for Financial Services Sales Agent by 2026. The BLS estimates 38,000 yearly job openings in this field.
The states with the most job growth for Financial Services Sales Agent are Arizona, Utah, and Iowa. Watch out if you plan on working in Massachusetts, New Jersey, or Maine. These states have the worst job growth for this type of profession.
Average Financial Services Sales Agents Salary
The typical yearly salary for Financial Services Sales Agents is somewhere between $34,360 and $208,000.
Financial Services Sales Agents who work in New York, South Dakota, or Connecticut, make the highest salaries.
Below is a list of the median annual salaries for Financial Services Sales Agents in different U.S. states.
| State | Annual Mean Salary |
|---|---|
| Alabama | $82,810 |
| Alaska | $101,290 |
| Arizona | $72,750 |
| Arkansas | $74,490 |
| California | $81,610 |
| Colorado | $76,160 |
| Connecticut | $122,890 |
| Delaware | $87,390 |
| District of Columbia | $103,380 |
| Florida | $82,810 |
| Georgia | $77,000 |
| Hawaii | $85,660 |
| Idaho | $62,690 |
| Illinois | $91,640 |
| Indiana | $92,400 |
| Iowa | $75,380 |
| Kansas | $107,500 |
| Kentucky | $85,420 |
| Louisiana | $89,550 |
| Maine | $81,670 |
| Maryland | $97,570 |
| Massachusetts | $118,310 |
| Michigan | $79,320 |
| Minnesota | $104,570 |
| Mississippi | $78,220 |
| Missouri | $80,280 |
| Montana | $89,270 |
| Nebraska | $86,920 |
| Nevada | $70,480 |
| New Hampshire | $98,030 |
| New Jersey | $98,850 |
| New Mexico | $56,380 |
| New York | $161,580 |
| North Carolina | $88,810 |
| North Dakota | $100,060 |
| Ohio | $77,960 |
| Oklahoma | $78,220 |
| Oregon | $66,120 |
| Pennsylvania | $86,970 |
| Rhode Island | $100,390 |
| South Carolina | $75,120 |
| South Dakota | $113,460 |
| Tennessee | $75,610 |
| Texas | $85,720 |
| Utah | $71,460 |
| Vermont | $105,770 |
| Virginia | $90,410 |
| Washington | $79,930 |
| West Virginia | $83,930 |
| Wisconsin | $77,780 |
| Wyoming | $70,030 |
What Tools do Financial Services Sales Agents Use?
Below is a list of the types of tools and technologies that Financial Services Sales Agents may use on a daily basis:
- Microsoft Excel
- Microsoft Word
- Microsoft Office
- Microsoft PowerPoint
- Microsoft Outlook
- Web browser software
- Microsoft Access
- Data entry software
- Email software
- Word processing software
- Spreadsheet software
- Microsoft SharePoint
- Microsoft Dynamics
- IBM Notes
- FileMaker Pro
- Oracle PeopleSoft
- Scheduling software
- Salesforce software
- IBM Cognos Impromptu
- Oracle E-Business Suite Financials
How do I Become a Financial Services Sales Agent?
Education needed to be a Financial Services Sales Agent:
What work experience do I need to become a Financial Services Sales Agent?
Where do Financial Services Sales Agents Work?
Financial Services Sales Agents work in the following industries:
Other Jobs You May be Interested In
Those interested in being a Financial Services Sales Agent may also be interested in:
- Marketing Managers
- Sales Engineers
- Treasurers and Controllers
- Financial Examiners
- Public Relations and Fundraising Managers
References:
Image Credit: Dave Dugdale via Creative Commons Attribution-Share Alike 2.0 Generic
More about our data sources and methodologies.
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