Certified Financial Planner (CFP) Salary

On average, commissions constitute a fair portion (approximately half) of final income for Certified Financial Planners. That final number averages out to $71K across the industry. Cash earnings for Certified Financial Planners — including $27K in bonuses and $30K in profit sharing proceeds near the top of the pay scale — generally stretch from $43K to $151K depending on individual performance. Experience level is the biggest factor affecting pay for this group, followed by geography. Most people who answered the questionnaire are men; 65 percent of Certified Financial Planners are male. Work is enjoyable for Certified Financial Planners, who typically claim high levels of job satisfaction. Health benefits are not enjoyed by everyone in this line of work, and about one in four lack any coverage at all. Medical benefits are reported by a strong majority and dental coverage is claimed by approximately half. The figures in this overview were provided by individuals who took PayScale's salary questionnaire.
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$41,046 - $119,887

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$14.49 - $206.85

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National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$140K$280K$420K
Salary
$41,046 - $119,887  
   
Bonus
$99.55 - $27,168  
Profit Sharing
$1,140 - $30,000  
Commission
$0.00 - $394,530  
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).
)
$43,221 - $151,443  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 770
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$70$140$210
Hourly Rate
$14.49 - $206.85  
   
Overtime
$14.30 - $90.00  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$140K$280K$420K
Bonus
$99.55 - $27,168  
   
Commission
$0.00 - $394,530  
Profit Sharing
$1,140 - $30,000  
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).
)
$43,221 - $151,443  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 46
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Job Description for Certified Financial Planner (CFP)

While many entities provide financial planning assistance to people who want a better handle on their financial situations and goals, a certified financial planner (CFP) can truly be considered a professional in the field. CFPs are only granted this title after passing a grueling certification process which ensures the individual's extensive knowledge of all aspects of the work; these include retirement planning and tax laws and regulations, as well as insurance and investment vehicles. Certified financial planners work with individuals, either under the auspices of a financial institution or in private practice, to help them manage money, income, and expenses.

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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 (CFP) Job Listings

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Popular Skills for Certified Financial Planner (CFP)


Survey results imply that Certified Financial Planners put a diverse skill set to use. Most notably, skills in Insurance, Investment Planning, Investment Management, and Financial Advisor are correlated to pay that is above average, with boosts between 6 percent and 17 percent. At the other end of the pay range are skills like Microsoft Excel. Those proficient in Investment Planning are, more often than not, also skilled in Financial Analysis and Investment Management. It is often found that people who know Financial Advisor are also skilled in Investment Management and Financial Analysis.

Pay by Experience Level for Certified Financial Planner (CFP)

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Certified Financial Planners with a rich background of experience are typically rewarded with larger paychecks. Someone who has worked for fewer than five years earns around $58K on average. Individuals with five to 10 years of experience don't get much more, though; the average income in this group is $71K. On average, Certified Financial Planners make $91K following one to two decades on the job. Certified Financial Planners who have acquired more than 20 years of relevant experience earn significantly more than folks with fewer years on their resumes; the average income in this veteran group is $151K.

Pay Difference by Location


For Certified Financial Planners, busy Boston offers a higher-than-average pay rate, 60 percent above the national average. Certified Financial Planners can also look forward to large paychecks in cities like San Francisco (+38 percent), Denver (+20 percent), New York (+18 percent), and Cincinnati (+13 percent). Place of residence plays a huge part in a Certified Financial Planner's salary, with Atlanta Certified Financial Planners earning salaries that are 23 percent less than the national average. Workers in Los Angeles and Omaha earn salaries that trail the national average for those in this profession (13 percent less and 6 percent less, respectively).

Certified Financial Planner (CFP) Reviews

What is it like working as a Certified Financial Planner (CFP)?

Certified Financial Planner (CFP) in Dallas:
"Great career."
Pros: Helping individuals grasp where they are financial and what can be done to improve their situation.
Cons: Hours worked.

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Experience Affects Certified Financial Planner (CFP) Salaries




National Average
$71,000


Skills That Affect Certified Financial Planner (CFP) Salaries

up arrow 17%




National Average
$71,000

Financial Analysis
up arrow 1%


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 131 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
3%
1-4 years
28%
5-9 years
31%
10-19 years
26%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 73% dental benefits Dental: 49%
vision benefits Vision: 34% employee benefits None: 27%
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