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The differences between finance & sales representatives and insurance sales representatives can be seen in a few details. Each job has different responsibilities and duties. Additionally, a finance & sales representative has an average salary of $86,114, which is higher than the $61,386 average annual salary of an insurance sales representative.
The top three skills for a finance & sales representative include financial products, work ethic and customer service. The most important skills for an insurance sales representative are customer service, excellent time management, and work ethic.
| Finance & Sales Representative | Insurance Sales Representative | |
| Yearly salary | $86,114 | $61,386 |
| Hourly rate | $41.40 | $29.51 |
| Growth rate | 10% | 6% |
| Number of jobs | 175,031 | 201,879 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 59% |
| Average age | 43 | 46 |
| Years of experience | 4 | - |
A finance and sales representative is responsible for selling financial services and instruments to clients according to their needs and requirements. Finance and sales representatives identify the clients' long-term financial goals and objectives to provide accurate investment options and plans by considering their risk tolerance and credit performance. They also follow the movement of the stock market and inform the clients of any changes that may affect their portfolio and financial stability. A finance and sales representative must have excellent analytical and communication skills, especially in handling client accounts and developing financial strategies for their best interests.
An insurance sales representative is primarily responsible for securing insurance sales by reaching out to clients through calls, correspondence, and even appointments. They are also responsible for gathering client information, discussing and recommending suitable terms, and even providing advice to meet their needs, all while building rapport to ensure customer satisfaction. There are also instances where they have to adjust existing terms, assist in filling out applications, and produce progress reports. Furthermore, it is essential to devise strategies to find new sales opportunities, as most insurance sales representatives must reach a particular sales target.
Finance & sales representatives and insurance sales representatives have different pay scales, as shown below.
| Finance & Sales Representative | Insurance Sales Representative | |
| Average salary | $86,114 | $61,386 |
| Salary range | Between $62,000 And $119,000 | Between $38,000 And $97,000 |
| Highest paying City | - | Washington, DC |
| Highest paying state | - | New York |
| Best paying company | - | FFL Partners |
| Best paying industry | - | Finance |
There are a few differences between a finance & sales representative and an insurance sales representative in terms of educational background:
| Finance & Sales Representative | Insurance Sales Representative | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 59% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between finance & sales representatives' and insurance sales representatives' demographics:
| Finance & Sales Representative | Insurance Sales Representative | |
| Average age | 43 | 46 |
| Gender ratio | Male, 57.3% Female, 42.7% | Male, 53.9% Female, 46.1% |
| Race ratio | Black or African American, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 9.9% White, 68.1% American Indian and Alaska Native, 0.2% | Black or African American, 9.4% Unknown, 3.6% Hispanic or Latino, 16.2% Asian, 4.9% White, 65.8% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 6% | 7% |