Certified Financial Planner (CFP) Salary

Commissions form a big slice (slightly less than a third) of total compensation for Certified Financial Planners. The median income in this area hovers around $73K. With some bonuses approaching $25K and certain profit sharing proceeds approaching $20K, overall incomes of Certified Financial Planners spread between $43K and $135K depending on individual performance. Experience level is the main element affecting pay for this group — the specific employer and geographic location are driving factors as well. Slightly less than a third of professionals in this line of work do not receive benefits; however, the greater part report medical coverage and slightly less than half claim dental coverage as well. Male Certified Financial Planners are more prevalent than women among those who took the survey — 65 percent of professionals. Most Certified Financial Planners report high levels of job satisfaction. The numbers in this rundown were provided by PayScale's salary survey participants.
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$41,761 - $120,486
$42K
$66K
$120K
MEDIAN: $66,348
10%
50%
90%

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$14.68 - $60.40
$15
$25
$60
MEDIAN: $24.87
10%
50%
90%

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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$50K$100K$150K
Salary
$41,761 - $120,486  
   
Bonus
$998 - $24,751  
Profit Sharing
$985 - $20,196  
Commission
$1,007 - $119,195  
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).
)
$43,228 - $134,575  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 723
© PayScale, Inc. @ www.payscale.com
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$25$50$75
Hourly Rate
$14.68 - $60.40  
   
Overtime
$22.81 - $38.30  
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$50K$100K$150K
Bonus
$998 - $24,751  
   
Commission
$1,007 - $119,195  
Profit Sharing
$985 - $20,196  
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).
)
$43,228 - $134,575  
Country: United States | Currency: USD | Updated: 25 Mar 2017 | Individuals Reporting: 48
© PayScale, Inc. @ www.payscale.com

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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

  • 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

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Popular Employer Salaries for Certified Financial Planner (CFP)


For Certified Financial Planners, comfortable salaries can be found at MassMutual Financial Group; in fact, median earnings sit around $117K, the highest in the area.

Popular Skills for Certified Financial Planner (CFP)


Certified Financial Planners report using a large range 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 6 percent and 11 percent. Skills that pay less than market rate include Client Interaction, Tax Consulting, and Microsoft Excel. For most people, competency in Financial Advisor indicates knowledge of 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.


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Workers in their first five years can expect to earn $60K, but people who have been around for five to 10 years earn a noticeably bigger sum of $79K. Certified Financial Planners with one to two decades of relevant experience report an average salary of approximately $99K. Seasoned veterans with 20 years under their belts enjoy a median income of $127K.

Pay Difference by Location

National Average: $72,742

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, 58 percent above the national average. Certified Financial Planners can also look forward to large paychecks in cities like San Francisco (+30 percent), Dallas (+15 percent), Phoenix (+14 percent), and Cleveland (+5 percent). Louisville is the lowest-paying area, 15 percent south of the national average. A couple other locations with smaller-than-average paychecks include San Jose (15 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 95 votes.
Less than 1 year
5%
1-4 years
37%
5-9 years
26%
10-19 years
23%
20 years or more
9%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Certified Financial Planner (CFP) Salaries

▲74%

▲36%

▲8%

National Average
$73,000

▼18%

Skills That Affect Certified Financial Planner (CFP) Salaries

▲11%

Strategic Planning
▲10%





Tax Preparation
▲3%

Financial Analysis
▼0%

National Average
$73,000


Tax Consulting
▼6%

Client Interaction
▼8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 95 votes.

Gender

Female
35 %
Male
65 %

Years of Experience

Less than 1 year
5%
1-4 years
37%
5-9 years
26%
10-19 years
23%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 69%
dental benefits
Dental: 46%
vision benefits
Vision: 36%
dental benefits
None: 29%
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