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The differences between registered representatives and finance service representatives can be seen in a few details. Each job has different responsibilities and duties. While it typically takes 4-6 years to become a registered representative, becoming a finance service representative takes usually requires 2-4 years. Additionally, a registered representative has an average salary of $54,074, which is higher than the $38,361 average annual salary of a finance service representative.
The top three skills for a registered representative include financial services, financial products and securities. The most important skills for a finance service representative are financial services, patients, and team-oriented environment.
| Registered Representative | Finance Service Representative | |
| Yearly salary | $54,074 | $38,361 |
| Hourly rate | $26.00 | $18.44 |
| Growth rate | 10% | 10% |
| Number of jobs | 17,622 | 220,519 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 60% |
| Average age | 43 | 43 |
| Years of experience | 6 | 4 |
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 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.
Registered representatives and finance service representatives have different pay scales, as shown below.
| Registered Representative | Finance Service Representative | |
| Average salary | $54,074 | $38,361 |
| Salary range | Between $33,000 And $88,000 | Between $25,000 And $58,000 |
| Highest paying City | New York, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | New York Life Insurance | Bloomberg |
| Best paying industry | Finance | Government |
There are a few differences between a registered representative and a finance service representative in terms of educational background:
| Registered Representative | Finance Service Representative | |
| Most common degree | Bachelor's Degree, 80% | Bachelor's Degree, 60% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Pennsylvania |
Here are the differences between registered representatives' and finance service representatives' demographics:
| Registered Representative | Finance Service Representative | |
| Average age | 43 | 43 |
| Gender ratio | Male, 77.4% Female, 22.6% | Male, 41.2% Female, 58.8% |
| 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, 5.7% Unknown, 4.1% Hispanic or Latino, 11.9% Asian, 10.1% White, 67.9% American Indian and Alaska Native, 0.2% |
| LGBT Percentage | 6% | 6% |