Certified Financial Planner (CFP) Salary

On average, commissions constitute a fair portion (more than a third) of final income for Certified Financial Planners. That final number averages out to $72K across the industry. Cash earnings for Certified Financial Planners — which occasionally include more than $25K from bonuses and more than $20K from profit sharing — stretch from around $44K to approximately $129K. Compensation for this group is mainly affected by experience level, but the company and location are influential factors as well. While slightly less than a third report receiving no health benefits, more than half do receive medical coverage, and just under a half have dental, as well. For the most part, Certified Financial Planners enjoy their work and report high levels of job satisfaction. Male Certified Financial Planners who responded to the survey are more common than women; more than half (65 percent) are men. The information for this snapshot was generated by responses to the PayScale salary survey.
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$42,228 - $117,488
$42K
$65K
$120K
MEDIAN: $65,456
10%
50%
90%

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$16.34 - $48.94
$16
$25
$49
MEDIAN: $24.87
10%
50%
90%

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$0$129K
Salary $42,228 - $117,488
Bonus $998 - $24,526
Profit Sharing $1,005 - $19,663
Commission $979 - $99,329
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).
)
$44,333 - $129,227
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 722
Hourly Data $0$48
Hourly Rate $16.34 - $48.94
Overtime $22.98 - $38.18
Annual Data $0$129K
Bonus $998 - $24,526
Commission $979 - $99,329
Profit Sharing $1,005 - $19,663
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).
)
$44,333 - $129,227
  • Country: United States
  • Currency: USD
  • Updated: 25 Jul 2017
  • Individuals Reporting: 42

Find Out Exactly What You Should Be Paid

United States (change)

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

  • Interview individuals or businesses to identify financial goals, concerns, and opportunities.
  • Create agendas, spreadsheets, and meeting materials to discuss investments, savings, and asset allocation.
  • Document and revise financial plans for clients.

Certified Financial Planner (CFP) Job Listings

Popular Employer Salaries for Certified Financial Planner (CFP)


MassMutual Financial Group offers the highest compensation with a median salary of $117K.

Popular Skills for Certified Financial Planner (CFP)


Certified Financial Planners report using a deep pool of skills on the job. Most notably, skills in Insurance, Strategic Planning, Financial Advisor, and Investment Management are correlated to pay that is above average, with boosts between 7 percent and 12 percent. Skills that pay less than market rate include Client Interaction, Tax Consulting, and Microsoft Excel. Most people experienced in Financial Advisor also know Investment Management and Financial Analysis.

Pay by Experience Level for Certified Financial Planner (CFP)

Pay by Experience for a Certified Financial Planner (CFP) has a positive trend. An entry-level Certified Financial Planner (CFP) with less than 5 years of experience can expect to earn an average total compensation of $60,000 based on 407 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Certified Financial Planner (CFP) with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $79,000 based on 268 salaries. An experienced Certified Financial Planner (CFP) which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $99,000 based on 210 salaries. A Certified Financial Planner (CFP) with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $127,000 based on 73 salaries.

Pay Difference by Location

National Average: $72,161

Larger city markers indicate a job is popular in that location.

For those looking to make money, Certified Financial Planners in Boston enjoy an exceptional pay rate, 59 percent above the national average. Certified Financial Planners will also find cushy salaries in San Francisco (+31 percent), Dallas (+16 percent), Phoenix (+15 percent), and Cleveland (+6 percent). Louisville ranks last in the field for pay, reporting salaries 15 percent below the national average. Employers also pay below the national average in San Jose (14 percent lower) and Omaha (8 percent lower).

Certified Financial Planner (CFP) Reviews

Q: 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.

Related Job Salaries

Key Stats for Certified Financial Planner (CFP)

Gender

Female
35 %
Male
65 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 109 votes.
Less than 1 year
5%
1-4 years
39%
5-9 years
25%
10-19 years
22%
20 years or more
9%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Certified Financial Planner (CFP) Salaries

▲76%

▲37%

▲9%

National Average
$72,000

▼17%

Skills That Affect Certified Financial Planner (CFP) Salaries

▲12%

Strategic Planning
▲11%





Tax Preparation
▲4%

Financial Analysis
▲1%

National Average
$72,000


Tax Consulting
▼6%

Client Interaction
▼8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 109 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
5%
1-4 years
39%
5-9 years
25%
10-19 years
22%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 69%
dental benefits
Dental: 46%
vision benefits
Vision: 35%
no benefits
None: 29%
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