Certified Financial Planner (CFP) Salary (United States)

For Certified Financial Planners, commissions account for a significant portion of income and add up to more than a third of their $67,823 annual pay. Compensation starts at $41,465 and can reach $139,085 per year. Total cash compensation to Certified Financial Planners varies from $41,465 to $139,085; higher pay grades include potential for bonuses and profit sharing as high as $25K each. Experience level is the biggest factor affecting pay for this group, followed by the particular city. Although about a quarter lack health benefits of any kind, most do enjoy medical insurance, and more than half get dental coverage, too. For the most part, Certified Financial Planners enjoy their work and report high levels of job satisfaction. This outline is derived from replies to PayScale's salary survey.
Certified Financial Planner (CFP) Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$39,267 - $109,512
(Median)
39K
49K
61K
82K
110K
MEDIAN: $61,055
10%
25%
50%
75%
90%
Add this chart to your site: 640px    300px
Certified Financial Planner (CFP) Salary (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$14.67 - $152.60
(Median)
15
40
150
MEDIAN: $24.00
10%
75%
90%
Add this chart to your site: 640px    300px

National Salary Data

 (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$90K$180K$270K
Salary
$39,267 - $109,512  
   
Bonus
$250.00 - $25,129  
Profit Sharing
$1,178 - $25,537  
Commission
$0.00 - $257,605  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$41,465 - $139,085  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 760
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$60$120$180
Hourly Rate
$14.67 - $152.60  
   
Overtime
$0.21 - $117.45  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$120K$240K$360K
Bonus
$250.00 - $25,129  
   
Commission
$0.00 - $257,605  
Profit Sharing
$1,178 - $25,537  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$41,465 - $139,085  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 39
Is Certified Financial Planner (CFP) your job title? Get a personalized salary report!
Location:
Years in Field/Career:
Location:
Years in Field/Career:
United States (change)

Job Description for Certified Financial Planner (CFP)

A Certified Financial Planner is expected to create and develop client relationships through telephone conversations, email, and person-to-person meetings. A financial planner's responsibility is to assess the financial needs and goals of each client, and to develop and implement a financial plan that fulfills those needs and goals. Responsibilities include plan development, selecting and selling of appropriate financial services, and monitoring and adapting plans as needs and financial conditions change. Cross-selling of financial services with other financial experts may be required. A designation of certified financial planner is required, as well as strong listening, communication, organizational, and interpersonal skills. Planners must be able to communicate effectively both in person and over the phone. Excellent knowledge of financial markets, products, and services is a must. Expect to attend workshops and seminars to stay on top of the most recent products and policies. The ability to multitask and work well in groups is also a necessity. It is also required that planners have the ability to understand and work with computer applications such as Microsoft Office and other financial programs. Financial planners should have a background in banking and understand law and accounting practices. Honesty and integrity are a must, as well as a motivated personality, and the ability to adapt your time to your clients' needs. Planners should expect some travel to both client locations and product knowledge seminars, as well as being able to work with other professionals in the industry that can help you satisfy your clients needs. A planner must have the ability to put the client needs above all else.
Certified Financial Planner (CFP) Tasks
  • Document and revise financial plans for clients.
  • Create agendas, spreadsheets, and meeting materials to discuss investments, savings, and asset allocation.
  • Interview individuals or businesses to identify financial goals, concerns, and opportunities.

Certified Financial Planner Job Listings

Search for more jobs:
job title / company
location

Popular Skills for Certified Financial Planner (CFP)

Survey results suggest that Certified Financial Planners put a wide range of professional skills to use. Most notably, skills in Insurance, Investment Management, Investment Planning, and Financial Advisor are correlated to pay that is above average, with boosts of 13 percent, 12 percent, 12 percent, and 12 percent, respectively. Skills that pay less than market rate include Microsoft Excel. Those proficient in Financial Advisor are, more often than not, also skilled in Financial Analysis and Investment Management.

Pay by Experience Level for Certified Financial Planner (CFP)

Median of all compensation (including tips, bonus, and overtime) by years of experience.
For many but not all Certified Financial Planners, a key factor in salary decisions is experience; more experience generally yields higher pay. At career start, salaries are typically $55K, which grows only modestly to $69K after five to 10 years. Earnings total $90K after one to two decades. Paychecks show no signs of slowing down as Certified Financial Planners approach two decades on the job—pay continues to accelerate and typical earnings come to $133K. Experienced employees who have 10-20 years of experience make up about one-fourth of the workforce; inexperienced individuals who have been working for less than one year comprise less than five percent, and senior people with more than 20 years under their belt fill out the remaining less than 10 percent. One to nine years of experience is standard for most employees in this area; a majority of respondents fit between this range.

Pay Difference By Location

Washington
up arrow 67%
Boston
up arrow 62%
Denver
up arrow 18%
Cincinnati
up arrow 17%
New York
up arrow 12%
San Diego
up arrow 9%
Dallas
up arrow 9%
Phoenix
up arrow 7%
Los Angeles
up arrow 1%
National Average
$68,000
Omaha
up arrow 2%
Atlanta
up arrow 12%
Charlotte
up arrow 12%
Chicago
up arrow 24%
Larger circles over a city indicate a job is popular in that location.
For Certified Financial Planners, busy Washington offers a higher-than-average pay rate, 67 percent above the national average. Also paying near the top of the field are Boston, Denver, Cincinnati, and New York, where Certified Financial Planners annually earn 62 percent, 18 percent, 17 percent, and 12 percent more than the national average. Certified Financial Planners in Chicago make 24 percent less than the national average, proving that location is a major factor in pay. Employers in Atlanta and Charlotte also lean toward paying below-median salaries (-12 percent and -12 percent, respectively).

Related Job Salaries

Find Out Exactly What You Should Be Paid
Job Title:
Years in Field/Career:
Location:
United States (change)
- OR -

Experience Affects Certified Financial Planner (CFP) Salaries

National Average
$68,000

Skills That Affect Certified Financial Planner (CFP) Salaries

up arrow 13%
Financial Analysis
up arrow 1%
National Average
$68,000
Microsoft Excel
up arrow 10%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 196 votes.

Gender

Female
36%
female alumni
 
Male
64%
male alumni

Years of Experience

Less than 1 year
4%
1-4 years
32%
5-9 years
30%
10-19 years
25%
20 years or more
10%

Common Health Benefits

medical benefits Medical: 76% dental benefits Dental: 51%
vision benefits Vision: 34% employee benefits None: 23%