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The differences between merchants and finance service representatives can be seen in a few details. Each job has different responsibilities and duties. Additionally, a merchant has an average salary of $74,999, which is higher than the $38,361 average annual salary of a finance service representative.
The top three skills for a merchant include product development, gross margin and market trends. The most important skills for a finance service representative are financial services, patients, and team-oriented environment.
| Merchant | Finance Service Representative | |
| Yearly salary | $74,999 | $38,361 |
| Hourly rate | $36.06 | $18.44 |
| Growth rate | - | 10% |
| Number of jobs | 15,395 | 220,519 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 60% |
| Average age | 41 | 43 |
| Years of experience | - | 4 |
A merchant is responsible for selling goods and services for an organization to generate revenues by reaching out to existing and potential customers and discuss the products' features. Merchants must have extensive knowledge of the goods offered by the company to be able to respond to customers' inquiries and concerns accurately. They also maintain the adequacy of inventory for store orders, create purchase requests, and analyze sales performance. A merchant coordinates with the sales and marketing team to develop efficient promotional strategies and increase brand awareness on public platforms.
A financial service representative typically works for a bank or a similar establishment. One of their primary responsibilities is to reach out to clients and offer financial advice, services, or products such as insurance and credit cards. They can also set appointments, meet with clients to discuss benefits, and even gather applications. Furthermore, a financial service representative needs to have extensive knowledge of the products and services and be equipped with communication skills to build a rapport that will be essential in securing trust and sales.
Merchants and finance service representatives have different pay scales, as shown below.
| Merchant | Finance Service Representative | |
| Average salary | $74,999 | $38,361 |
| Salary range | Between $47,000 And $119,000 | Between $25,000 And $58,000 |
| Highest paying City | San Francisco, CA | New York, NY |
| Highest paying state | California | New York |
| Best paying company | Levi Strauss & Co. | Bloomberg |
| Best paying industry | Finance | Government |
There are a few differences between a merchant and a finance service representative in terms of educational background:
| Merchant | Finance Service Representative | |
| Most common degree | Bachelor's Degree, 57% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | Stanford University | University of Pennsylvania |
Here are the differences between merchants' and finance service representatives' demographics:
| Merchant | Finance Service Representative | |
| Average age | 41 | 43 |
| Gender ratio | Male, 42.1% Female, 57.9% | Male, 41.2% Female, 58.8% |
| Race ratio | Black or African American, 8.5% Unknown, 5.2% Hispanic or Latino, 23.3% Asian, 7.4% White, 55.1% American Indian and Alaska Native, 0.6% | Black or African American, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 10.1% White, 67.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 7% | 6% |