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The differences between registered representatives and direct sales agents can be seen in a few details. Each job has different responsibilities and duties. It typically takes 4-6 years to become both a registered representative and a direct sales agent. Additionally, a direct sales agent has an average salary of $57,712, which is higher than the $54,074 average annual salary of a registered representative.
The top three skills for a registered representative include financial services, financial products and securities. The most important skills for a direct sales agent are customer service, medicare, and health insurance.
| Registered Representative | Direct Sales Agent | |
| Yearly salary | $54,074 | $57,712 |
| Hourly rate | $26.00 | $27.75 |
| Growth rate | 10% | 10% |
| Number of jobs | 17,622 | 225,552 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 53% |
| Average age | 43 | 43 |
| Years of experience | 6 | 6 |
A registered representative's job involves researching market conditions, liaising with potential clients, implementing advertising campaigns, cultivating personal contacts, and creating investment plans. Their duties and responsibilities include soliciting business from potential clients and selling financial products and services to clients for investment purposes.
A direct sales agent is primarily responsible for introducing and selling products or services to clients in a particular area. Aiming to reach sales quotas, they typically conduct market research and analysis, generate leads, and develop sales strategies to build positive client relationships. They reach out directly to clients through calls or face-to-face interactions, discuss product specifications or promos, negotiate contracts, and demonstrate products when necessary. They are also responsible for processing client orders and payments, ensuring efficiency and client satisfaction.
Registered representatives and direct sales agents have different pay scales, as shown below.
| Registered Representative | Direct Sales Agent | |
| Average salary | $54,074 | $57,712 |
| Salary range | Between $33,000 And $88,000 | Between $30,000 And $107,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | New York Life Insurance | TechnipFMC |
| Best paying industry | Finance | - |
There are a few differences between a registered representative and a direct sales agent in terms of educational background:
| Registered Representative | Direct Sales Agent | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 53% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | Stanford University |
Here are the differences between registered representatives' and direct sales agents' demographics:
| Registered Representative | Direct Sales Agent | |
| Average age | 43 | 43 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 58.0% Female, 42.0% |
| Race ratio | Black or African American, 5.8% Unknown, 4.2% Hispanic or Latino, 12.3% Asian, 10.3% White, 67.2% American Indian and Alaska Native, 0.2% | Black or African American, 5.8% Unknown, 4.2% Hispanic or Latino, 12.4% Asian, 9.3% White, 68.2% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |