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How to hire a Finance Representative

Finance representative hiring summary. Here are some key points about hiring finance representatives in the United States:

  • HR departments typically spend 15% of their expenses on recruitment.
  • It usually takes about 12 weeks for a new employee to reach full productivity levels.
  • It typically takes 36-42 days to fill a job opening.
  • The median cost to hire a finance representative is $1,633.
  • Small businesses spend an average of $1,105 per finance representative on training each year, while large companies spend $658.
  • There are currently 99,377 finance representatives in the US and 124,645 job openings.
  • Paterson, NJ, has the highest demand for finance representatives, with 17 job openings.
  • New York, NY has the highest concentration of finance representatives.

How to hire a finance representative, step by step

To hire a finance representative, you should create an ideal candidate profile, determine a budget, and post and promote your job. Here's a step-by-step guide on how to hire a finance representative:

Here's a step-by-step finance representative hiring guide:

  • Step 1: Identify your hiring needs
  • Step 2: Create an ideal candidate profile
  • Step 3: Make a budget
  • Step 4: Write a finance representative job description
  • Step 5: Post your job
  • Step 6: Interview candidates
  • Step 7: Send a job offer and onboard your new finance representative
  • Step 8: Go through the hiring process checklist

What does a Finance Representative do?

A finance representative, also known as a financial advisor, provides sound financial proposals to clients. Primarily, financial advisors guide and plan the financial decisions of clients based on their needs, goals, and requirements. They recommend financial products and services to manage clients' portfolios. Their other duties include analyzing current accounts, interpreting data, and developing strategies to improve and manage their assets and portfolios. Also, they monitor market trends to identify potential leads. Finance representatives should have an analytical mind to analyze, assess, and make decisions based on the data they are given.

Learn more about the specifics of what a finance representative does
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  1. Identify your hiring needs

    Before you post your finance representative job, you should take the time to determine what type of worker your business needs. While certain jobs definitely require a full-time employee, it's sometimes better to find a finance representative for hire on a part-time basis or as a contractor.

    Determine Employee vs Contractor Status
    Is the person you're thinking of hiring a US citizen or green card holder?

    You should also consider the ideal background you'd like them a finance representative to have before you start to hire. For example, what industry or field would you like them to have experience in, what level of seniority or education does the job require, and how much it'll cost to hire a finance representative that fits the bill.

    This list presents finance representative salaries for various positions.

    Type Of Finance RepresentativeDescriptionHourly Rate
    Finance RepresentativeSecurities, commodities, and financial services sales agents connect buyers and sellers in financial markets. They sell securities to individuals, advise companies in search of investors, and conduct trades.$10-37
    TraderA trader is responsible for buying and selling financial instruments for a firm or an individual, monitoring stock movements, and analyzing price fluctuations. Traders focus on short-term and long-term trades, depending on their customers' demands and best interests... Show More$26-69
    Personal BankerA personal banker is responsible for managing the customers' financial records and assisting them in various banking transactions. Personal bankers' duties also include handling customers' inquiries for financial plans, understanding the banking and financial industry principles, processing applications, verifying account details, and offering bank products based on the customers' needs... Show More$13-23
  2. Create an ideal candidate profile

    Common Skills:
    • Financial Services
    • Customer Service
    • Life Insurance
    • Mutual Funds
    • FINRA
    • Securities
    • Brand Awareness
    • Annuities
    • Health Insurance
    • Patients
    • Financial Products
    • Long-Term Care Insurance
    • Financial Solutions
    • Eagle
    Check All Skills
    Responsibilities:
    • Work in QuickBooks to process payroll, submit payroll taxes, manage accounts payable and record income.
    • Manage client relationship by presenting solutions for customers state and unstate needs while cross-selling company products.
    • Manage financial statements and work independently to produce accurate records for petty cash, bank reconciliations, and data inventory.
    • Educate clients and provide financial and retirement solutions utilizing life insurance and annuities.
    • Demonstrate ability to continually learn and apply that knowledge and execute necessary details involve with the risk management and securities industry.
    • Facilitate timely customer service by opening new accounts and cross-selling products enabling co-workers to maintain focus on their primary job duties.
    More Finance Representative duties
  3. Make a budget

    Including a salary range in your finance representative job description helps attract top candidates to the position. A finance representative salary can be affected by several factors, such as geography, experience, seniority, certifications, and the prestige of the hiring company.

    For example, the average salary for a finance representative in Oregon may be lower than in New York, and an entry-level finance representative usually earns less than a senior-level finance representative. Additionally, a finance representative with certifications may command a higher salary, and working for a well-known company or start-up may also impact an employee's pay.

    Average finance representative salary

    $41,765yearly

    $20.08 hourly rate

    Entry-level finance representative salary
    $22,000 yearly salary
    Updated February 9, 2025

    Average finance representative salary by state

    RankStateAvg. SalaryHourly Rate
    1New York$82,124$39
    2North Carolina$53,518$26
    3Indiana$49,785$24
    4Virginia$48,947$24
    5Rhode Island$48,919$24
    6Pennsylvania$48,217$23
    7Illinois$46,489$22
    8Minnesota$46,363$22
    9Ohio$43,476$21
    10Massachusetts$43,226$21
    11Texas$42,731$21
    12Kansas$42,156$20
    13New Jersey$41,585$20
    14Georgia$40,555$20
    15Missouri$39,375$19
    16Florida$39,285$19
    17Louisiana$37,311$18
    18California$36,090$17
    19Arkansas$35,895$17
    20Colorado$32,798$16

    Average finance representative salary by company

    RankCompanyAverage SalaryHourly RateJob Openings
    1Keysight Technologies$97,407$46.833
    2Mayo Clinic$77,794$37.407
    3Mount Sinai Health System$69,978$33.641
    4Baystate Health$69,080$33.211
    5Fifth Third Bank$67,829$32.61338
    6St. Joseph Healthcare$66,195$31.827
    7Cincinnati Children's Hospital Medical Center$65,099$31.301
    8Montefiore Mount Vernon Hospital$63,730$30.647
    9National Grid plc$63,348$30.465
    10Namsa$61,391$29.51
    11Cornell University$60,279$28.9812
    12M&T Bank$60,043$28.87147
    13Hamilton Health Care System$57,808$27.795
    14TriHealth$56,810$27.314
    15Palomar Health$55,321$26.60
    16Baptist Health Home Care$55,021$26.4518
    17Mutual of Omaha$54,800$26.35128
    18St. Joseph's Health$54,628$26.264
    19Philips$54,370$26.14
    20Tenet Healthcare$53,935$25.9314
  4. Writing a Finance Representative Job Description

    A job description for a finance representative role includes a summary of the job's main responsibilities, required skills, and preferred background experience. Including a salary range can also go a long way in attracting more candidates to apply, and showing the first name of the hiring manager can also make applicants more comfortable. As an example, here's a finance representative job description:

    Finance Representative job description example


    Description Serves as the first contact for patients and families regarding funding sources for inpatient and outpatient services. Responsible for the day to day activities of obtaining funding for patients in the statuses of scheduling, pre-registration, registration, or post registration as assigned. Screens all admissions on a daily basis and educates referring physicians offices, patients and their families on hospital policy and procedures regarding various methods of payment source for services rendered. This may include advising applicable admits of pre-payment deposits and monthly payment arrangements.

    Obtains and documents information that appropriately designates current funding information and/or provides information on available funding sources if the patient/family does not have current sources. Works in collaboration with all departments and units in the revenue cycle to appropriately communicate issues and/or barriers, and to formulate work plans for resolution. Obtains appropriate up front collection on all self pay accounts as well as co-pays, deductibles, and co-insurance as identified in information provided by the patient's insurance card or through the eligibility and verification process.

    Screen the patient for possible other 3rd party and charity eligibility and keep up-to-date on admission/business office insurance procedures. Adept at utilizing payer resources and web sites to accurately explore and assess eligibility and successfully initiate referrals for MediCal/CMS/CCS. Appropriately administers the Palomar Health Financial Assistance Policy and Procedures to determine if the patient is eligible for discounted prices for services or is eligible for charity care designation. Well versed in policy and procedure that pertains to AB774 and is able to assist the patient/family in determining if they qualify based on federal poverty guidelines.

    Responsible for careful financial evaluation of all admissions, taking appropriate steps that are most beneficial to the hospital, while giving the proper level of consideration to the patient. Must be firm and decisive, yet courteous, tactful, considerate and show concern and empathy for the patient/family under often stressful situations. Must be keen, alert and have the ability to effectively communicate with people from various education backgrounds. Must have the knowledge and confidence to make decisions regarding methods of payment and have the ability to work with frequent interruptions.

    Speak and read English at a level that is sufficient to satisfactorily perform the essential functions of the position. Knowledge of standard office equipment (i.e., calculator, fax, photocopier) and personal computer and computer software skills (i.e., MS Windows, Excel, Access, Word, Powerpoint, internet, e-mail). Windows computer skills including proficient use of keyboarding, use of mouse or keys for functions such as selecting items, use of drop down menus, scroll bars, opening folders, copying and similar operations required upon employment or within the 1st two weeks of employment to perform the essential functions of the job. Performs other duties as assigned. Follows Palomar Health rules, policies, procedures, applicable laws and standards. Carries out the mission, vision, and quality commitment of Palomar Health.Job Requirements
    Minimum Education: High School Diploma and/or combination of education and experience Preferred Education: High School Diploma and/or combination of education and experience plus 1 year healthcare-related experience or basic college/medical coursework to learn medical terminology Minimum Experience: 2 years Patient Access and/or Patient Financial Services experience assisting patients with insurance and government funded programs Preferred Experience: 3+ years Patient Access and Patient Financial Services experience assisting patients with insurance and government funded programs, including experience related to billing and payment of government funded health plans.
    Bilingual (Spanish) Required Certification: Not Applicable Preferred Certification: Certified Healthcare Access Associate (NAHAM) or equivalent Required License: Not Applicable Preferred License: Not Applicable We are an equal opportunity employer and do not discriminate against applicants or employees based on race, color, gender, religion, creed, national origin, ancestry, age, disability, sexual orientation, marital status or any other characteristic protected by law.
  5. Post your job

    To find finance representatives for your business, try out a few different recruiting strategies:

    • Consider internal talent. One of the most important talent pools for any company is its current employees.
    • Ask for referrals. Reach out to friends, family members, and your current work to ask if they know any finance representatives they would recommend.
    • Recruit at local colleges. Attend job fairs at local colleges to recruit entry-level finance representatives with the right educational background.
    • Social media platforms. LinkedIn, Facebook, and Twitter have more than 3.5 billion users, and they're a great place for company branding and reaching potential job candidates.
    Post your job online:
    • Post your finance representative job on Zippia to find and attract quality finance representative candidates.
    • Use niche websites such as salesjobs, salesheads, allretailjobs.com, sales trax.
    • Post a job on free websites.
  6. Interview candidates

    During your first interview to recruit finance representatives, engage with candidates to learn about their interest in the role and experience in the field. During the following interview, you'll be able to go into more detail about the company, the position, and the responsibilities.

    It's also good to ask about candidates' unique skills and talents to see if they match your ideal candidate profile. If you think a candidate is good enough for the next step, you can move on to the technical interview.

    The right interview questions can help you assess a candidate's hard skills, behavioral intelligence, and soft skills.

  7. Send a job offer and onboard your new finance representative

    Once you've found the finance representative candidate you'd like to hire, it's time to write an offer letter. This should include an explicit job offer that includes the salary and the details of any other perks. Qualified candidates might be looking at multiple positions, so your offer must be competitive if you like the candidate. Also, be prepared for a negotiation stage, as candidates may way want to tweak the details of your initial offer. Once you've settled on these details, you can draft a contract to formalize your agreement.

    It's also good etiquette to follow up with applicants who don't get the job by sending them an email letting them know that the position has been filled.

    To prepare for the new employee's start date, you can create an onboarding schedule and complete any necessary paperwork, such as employee action forms and onboarding documents like I-9 forms, benefits enrollment, and federal and state tax forms. Human Resources should also ensure that a new employee file is created.

  8. Go through the hiring process checklist

    • Determine employee type (full-time, part-time, contractor, etc.)
    • Submit a job requisition form to the HR department
    • Define job responsibilities and requirements
    • Establish budget and timeline
    • Determine hiring decision makers for the role
    • Write job description
    • Post job on job boards, company website, etc.
    • Promote the job internally
    • Process applications through applicant tracking system
    • Review resumes and cover letters
    • Shortlist candidates for screening
    • Hold phone/virtual interview screening with first round of candidates
    • Conduct in-person interviews with top candidates from first round
    • Score candidates based on weighted criteria (e.g., experience, education, background, cultural fit, skill set, etc.)
    • Conduct background checks on top candidates
    • Check references of top candidates
    • Consult with HR and hiring decision makers on job offer specifics
    • Extend offer to top candidate(s)
    • Receive formal job offer acceptance and signed employment contract
    • Inform other candidates that the position has been filled
    • Set and communicate onboarding schedule to new hire(s)
    • Complete new hire paperwork (i9, benefits enrollment, tax forms, etc.)
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How much does it cost to hire a finance representative?

Recruiting finance representatives involves both the one-time costs of hiring and the ongoing costs of adding a new employee to your team. Your spending during the hiring process will mostly be on things like promoting the job on job boards, reviewing and interviewing candidates, and onboarding the new hire. Ongoing costs will obviously involve the employee's salary, but also may include things like benefits.

You can expect to pay around $41,765 per year for a finance representative, as this is the median yearly salary nationally. This can vary depending on what state or city you're hiring in. If you're hiring for contract work or on a per-project basis, hourly rates for finance representatives in the US typically range between $10 and $37 an hour.

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