Certified Financial Planner (CFP) Salary

In a profession for which the median take-home is approximately $73K, more than a third of overall earnings for Certified Financial Planners arrives through commissions. In the world of Certified Financial Planners, overall cash allowance can occasionally include more than $28K from bonuses and, in some exceptional cases, $26K from profit sharing, causing incomes to vary widely between $43K and $155K. Career length and the particular city each impact pay for this group, with the former having the largest influence. Men account for the majority of Certified Financial Planners who responded to the questionnaire — 64 percent to be exact. Work is enjoyable for Certified Financial Planners, who typically claim high levels of job satisfaction. Although a fair number have medical coverage and roughly one-half have dental coverage, roughly a fourth claim no health benefits at all. The information for this snapshot was generated by responses to the PayScale salary survey.
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$41,185 - $125,219
(Median)
$41K
$66K
$130K
MEDIAN: $65,725
10%
50%
90%

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$14.40 - $202.73
(Median)
$14
$25
$200
MEDIAN: $24.00
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$140K$280K$420K
Salary
$41,185 - $125,219  
   
Bonus
$483.87 - $28,060  
Profit Sharing
$1,010 - $25,646  
Commission
$0.00 - $396,406  
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).
)
$43,379 - $154,624  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 851
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
$14.40 - $202.73  
   
Overtime
$27.53 - $61.53  
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
$483.87 - $28,060  
   
Commission
$0.00 - $396,406  
Profit Sharing
$1,010 - $25,646  
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).
)
$43,379 - $154,624  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 53
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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)


Certified Financial Planners report using a diverse set of skills on the job. Most notably, skills in Strategic Planning, Insurance, Investment Management, and Investment Planning are correlated to pay that is above average, with boosts between 5 percent and 20 percent. Financial Modeling and Microsoft Excel, on the other hand, are typically associated with much lower pay. Most people who know Financial Advisor also know 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. At career start (within the first five years), average income sits near $59K, and the average for folks who have worked for five to 10 years is only slightly higher at $74K. The average pay reported by folks with 10 to 20 years of experience is around $96K. Professionals who have racked up more than two decades of experience enjoy comfortable salaries; at this stage, median wages are a cushy $148K.

Pay Difference by Location

National Average: $73,018

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

Boston offers some of the highest pay in the country for Certified Financial Planners, 57 percent above the national average. Certified Financial Planners will also find cushy salaries in San Francisco (+35 percent), Dallas (+26 percent), Denver (+18 percent), and New York (+11 percent). Certified Financial Planners in Atlanta earn salaries far below the national average by 26 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Employers in Houston and Louisville also lean toward paying below-median salaries (20 percent lower and 16 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
$73,000


Skills That Affect Certified Financial Planner (CFP) Salaries

Strategic Planning
up arrow 20%

up arrow 17%



Financial Advisor
up arrow 4%

National Average
$73,000

Financial Analysis
up arrow 1%


Financial Modeling
up arrow 24%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 117 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
4%
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: 50%
medical benefits
Vision: 37%
dental benefits
None: 26%
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