....And, to add to the above (correct) posts, symbols / bps don't include any compression numbers by default.
If you have a compressable file or traffic, and the modem's compression is enabled, you may get additional throughput. The amount of throughput will depend on the compressability of the file / traffic. If the file is already compressed (.zip, .rar, .tz, etc) the modem doesn't have much (if anything) it can further compress.
Compression is why you want to feed the modem at the highest DTE (PC-->Modem) speed it'll support. The data is buffered and compression is attempted, then the traffic is transmitted/received from/to the buffer. Hardware handshake is critical for all of this stuff to happen properly as well.
Good Luck
Scott