About the job
Financial sales representatives sell basic deposit, investment and loan products and services to individuals and businesses. They work in banks, credit unions, trust companies and similar financial institutions.
- Open new personal and non-personal accounts, and provide access to automated banking machine, telephone banking and online banking services.
- Interview applicants for personal, mortgage, student and business loans.
- Promote the sale of deposit, investment, credit and loan products and services.
- Assist clients by proposing solutions to address financial objectives such as business expansion, debt management, investment and other financial goals.
- Research and evaluate loan applicant's financial status, references, credit and ability to repay the loan.
- Complete credit and loan documentation.
- Submit credit and loan applications to branch or credit manager with recommendations for approval or rejection; or approve or reject applications within authorized limits ensuring that credit standards of the institution are respected.
- Prepare statements on delinquent accounts and forward irreconcilable accounts for collector action.
- Review and update credit and loan files.
- Act as joint custodian for cash and securities.
- consumer credit officer
- credit analyst
- debt counsellor
- financial services representative
- loan officer
- mortgage consultant
- mortgage loans officer
- personal banker
- personal banking representative
- personal loans officer
To work in this field, you should have excellent organizational, analytical, and communication skills, both oral and written. Good judgement, integrity, and persistence are important. You must have an aptitude for mathematics and be capable of detailed and precise work. Business skills are essential.
- Completion of secondary school and extensive general banking experience is usually required.
- A bachelor's degree or college diploma related to commerce or economics may be required.
- A mutual funds licence is usually required.
- Registration with the securities regulatory authority in the province or territory of employment is usually required.
- Completion of a loan or credit training program, ranging from six to twelve months, is usually required.
- Various training programs and courses are offered by the Institute of Canadian Bankers and may be required by employers.
- Financial services officers who sell regulated financial products and investments are required to be licensed by the appropriate governing body.
Progression to higher levels of financial planning and wealth management is possible with experience. Progression to credit and loan management positions is possible with experience.
Labour Market Information
The employment outlook over the next few years for this occupational group is “average”, which indicates the chances of a qualified individual finding work is comparable to the average for all occupations in Nova Scotia. This is a fairly large occupation in Nova Scotia so job opportunities occur fairly regularly. The number employed in this occupation is expected to grow moderately over the next few years, which will likely provide some additional opportunities for employment. With a large percent of workers being 55 years of age and older, retirements are expected to be a key contributor to employment opportunities over the coming years. Financial Sales Representatives most commonly work full-time hours. Furthermore, the jobs are typically permanent positions.
The median employment income for 70% of Financial Sales Representatives who worked full-time, year-round in 2015 was $46,006. Across all occupations in Nova Scotia, 59% of those who worked full-time year round had a median employment income of $43,600.
(Source: 2016 Census)
Occupation | Estimated employment in 2018 | Estimated change in employment between 2017 and 2019 | Estimated openings due to growth and retirements, 2017-2019 | Estimated rate of unemployment in 2018 | Estimated hourly earnings in 2015 (learn more) | Estimated annual earnings in 2015 |
Financial Sales Representatives | 1,530 | Moderate growth | 215 | Low | Minimum: $13.75 Median: $20.51 Maximum: $34.62 | Minimum: $16,320 Median: $42,590 Maximum: $77,015 |
Occupations in Sales and Service | 102,605 | Decline slightly | 5,260 | Moderate | Minimum: $10.70 Median: $12.50 Maximum: $21.17 | Minimum: $2,949 Median: $16,629 Maximum: $45,086 |
Financial Sales Representatives | Compared to: Occupations in Sales and Service | |
Percent employed full-time | 90% | 59% |
Percent self-employed | 3% | 6% |
Area of Employment | Financial Sales Representatives | Compared to: All NS Occupations | ||
% Employed | Median Annual Income | % Employed | Median Annual Income | |
Southern | 7% | $33,330 | 12% | $30,581 |
Northern | 12% | $42,914 | 16% | $33,660 |
Cape Breton | 7% | $36,984 | 13% | $32,974 |
Halifax | 65% | $48,930 | 47% | $41,209 |
Annapolis Valley | 9% | $39,485 | 13% | $32,958 |

Age | Financial Sales Representatives | Compared to: All Sales and Service |
% Employed | % Employed | |
15-24 | 4% | x |
25-34 | 26% | 36% |
35-44 | 27% | 29% |
45-54 | 23% | x |
55-64 | 17% | 21% |
65+ | 2% | x |
Median Age | 40 | 37 |

Gender | Financial Sales Representatives | Compared to: Occupations in Sales and Service |
% Employed | % Employed | |
Female | 66% | 60% |
Male | 34% | 40% |
Education | Financial Sales Representatives | Compared to: All Sales and Service | ||
% Employed | Median Annual Income | % Employed | Median Annual Income | |
Less than high school | 0.9% | x | 18.8% | $9,486 |
High school | 20.8% | $21,860 | 40.4% | $12,982 |
Trades certificate | 2.1% | $25,325 | 8.0% | $18,797 |
College certificate or diploma | 31.5% | $22,255 | 19.9% | $19,514 |
University certificate or diploma | 3.4% | x | 1.6% | $18,279 |
Bachelor's degree | 34.3% | $32,802 | 10.0% | $20,807 |
University advanced certificate or diploma | 2.4% | x | 0.5% | $15,716 |
Master's degree | x | x | 0.8% | $20,769 |
Doctorate | 4.3% | x | 0.0% | $17,318 |
Medicine, dentistry, veterinary, optometry | x | x | 0.1% | $17,368 |
Total | 100% | 100% |
Hourly earnings data are from the Labour Force Survey by Statistics Canada. Data are not available for all occupations. Hourly earnings are calculated based on usual hours worked per week. This is how an annual salary, for instance, gets converted to an hourly rate. The data include full and part-time workers along with new and experienced workers. Self-employed workers are excluded.
Annual employment income data reported in the Work Prospects section, are from the 2011 National Household Survey by Statistics Canada. Much of the data (around 70%) came directly from tax records. The data relates to the year 2010 and includes total wages and salaries and net income from self-employment.
Employment Requirements & Contacts
Training Paths & Education
This instructional program class comprises any program that defines the prescribed requirements, specified by the appropriate jurisdiction, for the completion of and graduation from a secondary school program of academic subject matter offered for adult learners outside of the regular secondary school program. This does not include adult compensatory education programs resulting in completion of a high school equivalency certificate or diploma.
This instructional program class comprises any program that focuses on the general study of business, including the processes of interchanging goods and services (buying, selling and producing), business organization, and accounting as used in profit-making and non-profit public and private institutions and agencies. The program prepares individuals to apply business principles and techniques in various occupational settings.
This instructional program class comprises any general program that focuses on the systematic study of the production, conservation and allocation of resources in conditions of scarcity, together with the organizational frameworks related to these processes. These programs include courses in economic theory, microeconomics and macroeconomics, comparative economic systems, money and banking systems, international economics, quantitative analytical methods, and applications to specific industries and public policy issues.
There are no additional resources for this occupation.