Certified Financial Planner (CFP) Salary

A large fraction of take-home pay for Certified Financial Planners comes from commissions — approximately half on average, in fact. The median overall income in this field is approximately $71K. In the world of Certified Financial Planners, total cash compensation can vary between $44K and $152K. Each package generally includes bonuses and profit sharing proceeds, and in exceptional cases, those amounts can reach heights of $28K and $30K, respectively. Career duration and the particular city each impact pay for this group, with the former having the largest influence. Some workers in this field — nearly one-fourth — are not awarded benefits. Medical coverage is reported by a fair number and dental plans are enjoyed by close to one-half. The majority of Certified Financial Planners (65 percent) survey respondents are male. Most Certified Financial Planners report high levels of job satisfaction. The information for this snapshot was generated by responses to the PayScale salary survey.
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$41,337 - $120,039
(Median)
$41K
$64K
$120K
MEDIAN: $64,025
10%
50%
90%

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$14.49 - $206.85
(Median)
$14
$25
$210
MEDIAN: $24.00
10%
50%
90%

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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$140K$280K$420K
Salary
$41,337 - $120,039  
   
Bonus
$99.78 - $28,204  
Profit Sharing
$1,043 - $30,000  
Commission
$0.00 - $393,555  
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).
)
$43,582 - $152,221  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 766
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$70$140$210
Hourly Rate
$14.49 - $206.85  
   
Overtime
$14.30 - $90.00  
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$140K$280K$420K
Bonus
$99.78 - $28,204  
   
Commission
$0.00 - $393,555  
Profit Sharing
$1,043 - $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).
)
$43,582 - $152,221  
Country: United States | Currency: USD | Updated: 2 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 suggest that Certified Financial Planners put a wide range of professional skills 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 7 percent and 17 percent. Skills that pay less than market rate include Microsoft Excel. The majority of those who know Financial Advisor also know Investment Management and Financial Analysis. Skill sets containing Investment Planning also tend to include 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 Certified Financial Planners, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Survey participants with less than five years' experience report a median income of $58K, and earnings aren't much higher for respondents who have five to 10 years under their belts; respondents in the latter group report a median of just $71K. After working for 10 to 20 years, Certified Financial Planners make a median salary of $92K. Certified Financial Planners who have spent more than 20 years on the job report earning a significantly higher median of $151K.

Pay Difference by Location


Washington is home to an above-average pay rate for Certified Financial Planners, 64 percent higher than the national average. Certified Financial Planners will also find cushy salaries in Boston (+60 percent), San Francisco (+37 percent), Denver (+20 percent), and New York (+18 percent). Certified Financial Planners in Atlanta earn salaries far below the national average by 23 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Not at the bottom but still paying below the median are employers in Los Angeles and Omaha (13 percent lower and 7 percent lower, 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%




Financial Analysis
0%

National Average
$71,000


Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 133 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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