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The differences between finance & sales representatives and new accounts representatives can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 2-4 years to become a finance & sales representative, becoming a new accounts representative takes usually requires 6-12 months. Additionally, a finance & sales representative has an average salary of $86,114, which is higher than the $36,918 average annual salary of a new accounts representative.
The top three skills for a finance & sales representative include financial products, work ethic and customer service. The most important skills for a new accounts representative are customer service, bank products, and cross-sell.
| Finance & Sales Representative | New Accounts Representative | |
| Yearly salary | $86,114 | $36,918 |
| Hourly rate | $41.40 | $17.75 |
| Growth rate | 10% | -3% |
| Number of jobs | 175,031 | 133,070 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 51% |
| Average age | 43 | 41 |
| Years of experience | 4 | 12 |
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.
New accounts representatives are banking professionals who are responsible for the explanation of the available accounts. The accounts representatives explain different options for new accounts and interconnected services. They discuss any requirements, fees, or limits related to an account. It is their job to describe new account services to clients and assist them in the paperwork. They perform wire or electronic transfers for the funds coming from the other accounts. Also, they direct their clients to banking specialists for additional services.
Finance & sales representatives and new accounts representatives have different pay scales, as shown below.
| Finance & Sales Representative | New Accounts Representative | |
| Average salary | $86,114 | $36,918 |
| Salary range | Between $62,000 And $119,000 | Between $28,000 And $47,000 |
| Highest paying City | - | San Mateo, CA |
| Highest paying state | - | Hawaii |
| Best paying company | - | DATCU |
| Best paying industry | - | Finance |
There are a few differences between a finance & sales representative and a new accounts representative in terms of educational background:
| Finance & Sales Representative | New Accounts Representative | |
| Most common degree | Bachelor's Degree, 67% | Bachelor's Degree, 51% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | - |
Here are the differences between finance & sales representatives' and new accounts representatives' demographics:
| Finance & Sales Representative | New Accounts Representative | |
| Average age | 43 | 41 |
| Gender ratio | Male, 57.3% Female, 42.7% | Male, 26.6% Female, 73.4% |
| 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, 9.5% Unknown, 2.9% Hispanic or Latino, 22.0% Asian, 9.1% White, 55.7% American Indian and Alaska Native, 0.8% |
| LGBT Percentage | 6% | 11% |