Summary Report for:
41-3031.02 - Sales Agents, Financial Services
Sell financial services, such as loan, tax, and securities counseling to customers of financial institutions and business establishments.
Sample of reported job titles: Client Manager, Financial Consultant, Financial Services Representative, Financial Specialist, Investment Officer, Personal Banker, Registered Representative, Relationship Banker, Relationship Manager, Select Banker
Tasks | Tools & Technology | Knowledge | Skills | Abilities | Work Activities | Detailed Work Activities | Work Context | Job Zone | Education | Credentials | Interests | Work Styles | Work Values | Related Occupations | Wages & Employment | Job Openings | Additional Information
- Determine customers' financial services needs and prepare proposals to sell services that address these needs.
- Prepare forms or agreements to complete sales.
- Sell services or equipment, such as trusts, investments, or check processing services.
- Contact prospective customers to present information and explain available services.
- Develop prospects from current commercial customers, referral leads, or sales or trade meetings.
- Evaluate costs and revenue of agreements to determine continued profitability.
- Review business trends to advise customers regarding expected fluctuations.
- Make presentations on financial services to groups to attract new clients.
Tools & Technology
Tools used in this occupation:
Technology used in this occupation:
- Accounting software — Fund accounting software
- Business intelligence and data analysis software — IBM Cognos Impromptu
- Calendar and scheduling software — Scheduling software
- Customer relationship management CRM software — Salesforce software
- Data base user interface and query software — Database management software; FileMaker Pro ; Microsoft Access ; Web-based information systems (see all 5 examples)
- Electronic mail software — Email software; IBM Notes ; Microsoft Outlook
- Enterprise resource planning ERP software — Microsoft Dynamics GP ; Oracle Hyperion ; Oracle PeopleSoft ; Oracle PeopleSoft Financials
- Financial analysis software — Bloomberg Professional; Oracle E-Business Suite Financials ; Realm Business Solutions INSIGHT for ARGUS; Sales analysis software (see all 5 examples)
- Internet browser software — Web browser software
- Office suite software — Microsoft Office
- Presentation software — Microsoft PowerPoint
- Project management software
- Spreadsheet software — Microsoft Excel
- Word processing software — Microsoft Word
Hot Technology — a technology requirement frequently included in employer job postings.
- Customer and Personal Service — Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
- Economics and Accounting — Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
- English Language — Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
- Sales and Marketing — Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems.
- Mathematics — Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
- Administration and Management — Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
- Clerical — Knowledge of administrative and clerical procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and other office procedures and terminology.
- Law and Government — Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process.
- Persuasion — Persuading others to change their minds or behavior.
- Active Listening — Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
- Critical Thinking — Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
- Speaking — Talking to others to convey information effectively.
- Reading Comprehension — Understanding written sentences and paragraphs in work related documents.
- Social Perceptiveness — Being aware of others' reactions and understanding why they react as they do.
- Judgment and Decision Making — Considering the relative costs and benefits of potential actions to choose the most appropriate one.
- Service Orientation — Actively looking for ways to help people.
- Active Learning — Understanding the implications of new information for both current and future problem-solving and decision-making.
- Complex Problem Solving — Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions.
- Negotiation — Bringing others together and trying to reconcile differences.
- Instructing — Teaching others how to do something.
- Mathematics — Using mathematics to solve problems.
- Monitoring — Monitoring/Assessing performance of yourself, other individuals, or organizations to make improvements or take corrective action.
- Systems Analysis — Determining how a system should work and how changes in conditions, operations, and the environment will affect outcomes.
- Time Management — Managing one's own time and the time of others.
- Writing — Communicating effectively in writing as appropriate for the needs of the audience.
- Deductive Reasoning — The ability to apply general rules to specific problems to produce answers that make sense.
- Oral Comprehension — The ability to listen to and understand information and ideas presented through spoken words and sentences.
- Oral Expression — The ability to communicate information and ideas in speaking so others will understand.
- Written Comprehension — The ability to read and understand information and ideas presented in writing.
- Problem Sensitivity — The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
- Inductive Reasoning — The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
- Speech Clarity — The ability to speak clearly so others can understand you.
- Speech Recognition — The ability to identify and understand the speech of another person.
- Written Expression — The ability to communicate information and ideas in writing so others will understand.
- Near Vision — The ability to see details at close range (within a few feet of the observer).
- Information Ordering — The ability to arrange things or actions in a certain order or pattern according to a specific rule or set of rules (e.g., patterns of numbers, letters, words, pictures, mathematical operations).
- Category Flexibility — The ability to generate or use different sets of rules for combining or grouping things in different ways.
- Fluency of Ideas — The ability to come up with a number of ideas about a topic (the number of ideas is important, not their quality, correctness, or creativity).
- Mathematical Reasoning — The ability to choose the right mathematical methods or formulas to solve a problem.
- Selling or Influencing Others — Convincing others to buy merchandise/goods or to otherwise change their minds or actions.
- Communicating with Persons Outside Organization — Communicating with people outside the organization, representing the organization to customers, the public, government, and other external sources. This information can be exchanged in person, in writing, or by telephone or e-mail.
- Establishing and Maintaining Interpersonal Relationships — Developing constructive and cooperative working relationships with others, and maintaining them over time.
- Getting Information — Observing, receiving, and otherwise obtaining information from all relevant sources.
- Analyzing Data or Information — Identifying the underlying principles, reasons, or facts of information by breaking down information or data into separate parts.
- Interacting With Computers — Using computers and computer systems (including hardware and software) to program, write software, set up functions, enter data, or process information.
- Communicating with Supervisors, Peers, or Subordinates — Providing information to supervisors, co-workers, and subordinates by telephone, in written form, e-mail, or in person.
- Making Decisions and Solving Problems — Analyzing information and evaluating results to choose the best solution and solve problems.
- Processing Information — Compiling, coding, categorizing, calculating, tabulating, auditing, or verifying information or data.
- Organizing, Planning, and Prioritizing Work — Developing specific goals and plans to prioritize, organize, and accomplish your work.
- Identifying Objects, Actions, and Events — Identifying information by categorizing, estimating, recognizing differences or similarities, and detecting changes in circumstances or events.
- Evaluating Information to Determine Compliance with Standards — Using relevant information and individual judgment to determine whether events or processes comply with laws, regulations, or standards.
- Performing for or Working Directly with the Public — Performing for people or dealing directly with the public. This includes serving customers in restaurants and stores, and receiving clients or guests.
- Updating and Using Relevant Knowledge — Keeping up-to-date technically and applying new knowledge to your job.
- Developing and Building Teams — Encouraging and building mutual trust, respect, and cooperation among team members.
- Resolving Conflicts and Negotiating with Others — Handling complaints, settling disputes, and resolving grievances and conflicts, or otherwise negotiating with others.
- Coaching and Developing Others — Identifying the developmental needs of others and coaching, mentoring, or otherwise helping others to improve their knowledge or skills.
- Developing Objectives and Strategies — Establishing long-range objectives and specifying the strategies and actions to achieve them.
- Interpreting the Meaning of Information for Others — Translating or explaining what information means and how it can be used.
- Provide Consultation and Advice to Others — Providing guidance and expert advice to management or other groups on technical, systems-, or process-related topics.
- Documenting/Recording Information — Entering, transcribing, recording, storing, or maintaining information in written or electronic/magnetic form.
- Performing Administrative Activities — Performing day-to-day administrative tasks such as maintaining information files and processing paperwork.
- Thinking Creatively — Developing, designing, or creating new applications, ideas, relationships, systems, or products, including artistic contributions.
- Monitor Processes, Materials, or Surroundings — Monitoring and reviewing information from materials, events, or the environment, to detect or assess problems.
- Scheduling Work and Activities — Scheduling events, programs, and activities, as well as the work of others.
- Judging the Qualities of Things, Services, or People — Assessing the value, importance, or quality of things or people.
Detailed Work Activities
- Develop proposals for current or prospective customers.
- Gather customer or product information to determine customer needs.
- Prepare sales or other contracts.
- Sell products or services.
- Contact current or potential customers to promote products or services.
- Explain technical product or service information to customers.
- Identify potential customers.
- Monitor market conditions or trends.
- Deliver promotional presentations to current or prospective customers.
- Telephone — 94% responded “Every day.”
- Contact With Others — 89% responded “Constant contact with others.”
- Importance of Being Exact or Accurate — 83% responded “Extremely important.”
- Electronic Mail — 83% responded “Every day.”
- Face-to-Face Discussions
- Indoors, Environmentally Controlled — 91% responded “Every day.”
- Deal With External Customers — 57% responded “Extremely important.”
- Structured versus Unstructured Work
- Freedom to Make Decisions — 62% responded “A lot of freedom.”
- Frequency of Decision Making — 70% responded “Every day.”
- Level of Competition — 48% responded “Extremely competitive.”
- Spend Time Sitting — 62% responded “Continually or almost continually.”
- Work With Work Group or Team — 39% responded “Very important.”
- Impact of Decisions on Co-workers or Company Results — 52% responded “Very important results.”
- Time Pressure — 51% responded “Once a week or more but not every day.”
- Coordinate or Lead Others — 54% responded “Very important.”
- Letters and Memos — 36% responded “Every day.”
- Importance of Repeating Same Tasks — 44% responded “Very important.”
- Duration of Typical Work Week — 45% responded “More than 40 hours.”
- Consequence of Error — 28% responded “Extremely serious.”
- Deal With Unpleasant or Angry People — 36% responded “Once a month or more but not every week.”
|Title||Job Zone Three: Medium Preparation Needed|
|Education||Most occupations in this zone require training in vocational schools, related on-the-job experience, or an associate's degree.|
|Related Experience||Previous work-related skill, knowledge, or experience is required for these occupations. For example, an electrician must have completed three or four years of apprenticeship or several years of vocational training, and often must have passed a licensing exam, in order to perform the job.|
|Job Training||Employees in these occupations usually need one or two years of training involving both on-the-job experience and informal training with experienced workers. A recognized apprenticeship program may be associated with these occupations.|
|Job Zone Examples||These occupations usually involve using communication and organizational skills to coordinate, supervise, manage, or train others to accomplish goals. Examples include food service managers, travel guides, electricians, agricultural technicians, barbers, nannies, and medical assistants.|
|SVP Range||(6.0 to < 7.0)|
Percentage of Respondents
|Education Level Required|
|62||High school diploma or equivalent|
|8||Some college, no degree|
Interest code: EC
- Enterprising — Enterprising occupations frequently involve starting up and carrying out projects. These occupations can involve leading people and making many decisions. Sometimes they require risk taking and often deal with business.
- Conventional — Conventional occupations frequently involve following set procedures and routines. These occupations can include working with data and details more than with ideas. Usually there is a clear line of authority to follow.
- Integrity — Job requires being honest and ethical.
- Dependability — Job requires being reliable, responsible, and dependable, and fulfilling obligations.
- Attention to Detail — Job requires being careful about detail and thorough in completing work tasks.
- Cooperation — Job requires being pleasant with others on the job and displaying a good-natured, cooperative attitude.
- Self Control — Job requires maintaining composure, keeping emotions in check, controlling anger, and avoiding aggressive behavior, even in very difficult situations.
- Stress Tolerance — Job requires accepting criticism and dealing calmly and effectively with high stress situations.
- Achievement/Effort — Job requires establishing and maintaining personally challenging achievement goals and exerting effort toward mastering tasks.
- Independence — Job requires developing one's own ways of doing things, guiding oneself with little or no supervision, and depending on oneself to get things done.
- Initiative — Job requires a willingness to take on responsibilities and challenges.
- Persistence — Job requires persistence in the face of obstacles.
- Analytical Thinking — Job requires analyzing information and using logic to address work-related issues and problems.
- Adaptability/Flexibility — Job requires being open to change (positive or negative) and to considerable variety in the workplace.
- Concern for Others — Job requires being sensitive to others' needs and feelings and being understanding and helpful on the job.
- Social Orientation — Job requires preferring to work with others rather than alone, and being personally connected with others on the job.
- Leadership — Job requires a willingness to lead, take charge, and offer opinions and direction.
- Innovation — Job requires creativity and alternative thinking to develop new ideas for and answers to work-related problems.
- Working Conditions — Occupations that satisfy this work value offer job security and good working conditions. Corresponding needs are Activity, Compensation, Independence, Security, Variety and Working Conditions.
- Achievement — Occupations that satisfy this work value are results oriented and allow employees to use their strongest abilities, giving them a feeling of accomplishment. Corresponding needs are Ability Utilization and Achievement.
- Relationships — Occupations that satisfy this work value allow employees to provide service to others and work with co-workers in a friendly non-competitive environment. Corresponding needs are Co-workers, Moral Values and Social Service.
Wages & Employment Trends
Median wages data collected from Securities, Commodities, and Financial Services Sales Agents.
Employment data collected from Securities, Commodities, and Financial Services Sales Agents.
Industry data collected from Securities, Commodities, and Financial Services Sales Agents.
|Median wages (2015)||$34.40 hourly, $71,550 annual|
|Employment (2014)||342,000 employees|
|Projected growth (2014-2024)||Faster than average (9% to 13%)|
|Projected job openings (2014-2024)||91,400|
|Top industries (2014)|
Source: Bureau of Labor Statistics 2015 wage data and 2014-2024 employment projections . "Projected growth" represents the estimated change in total employment over the projections period (2014-2024). "Projected job openings" represent openings due to growth and replacement.
Job Openings on the Web
Sources of Additional Information
Disclaimer: Sources are listed to provide additional information on related jobs, specialties, and/or industries. Links to non-DOL Internet sites are provided for your convenience and do not constitute an endorsement.
- Securities, commodities, and financial services sales agents . Bureau of Labor Statistics, U.S. Department of Labor. Occupational Outlook Handbook, 2016-17 Edition.