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Financial Aid Counselor Salary

Pay for Financial Aid Counselors in the United States is very modest at just $35K annually. The income range spans the entire spectrum between $26K and $47K per year. Career duration is the biggest factor affecting pay for this group, followed by geography. Though the majority of Financial Aid Counselors do not report high levels of job satisfaction, most are moderately content with their role. Among survey respondents, women are more common than men; 84 percent of Financial Aid Counselors are female. Medical benefits are awarded to most, and a strong majority earn dental coverage.
$27,615 - $48,553
(Median)
28K
35K
41K
49K
MEDIAN: $35,109
10%
50%
75%
90%

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$11.93 - $19.85
(Median)
12
14
17
20
MEDIAN: $15.00
10%
25%
75%
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$17K$34K$51K
Salary
$27,615 - $48,553  
   
Bonus
$0.00 - $1,023  
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).
)
$26,251 - $46,728  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 209
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$11$22$33
Hourly Rate
$11.93 - $19.85  
   
Overtime
$17.47 - $31.02  
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$22K$44K$66K
Bonus
$0.00 - $1,023  
   
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).
)
$26,251 - $46,728  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 91
United States (change)

Job Description for Financial Aid Counselor

Financial aid counselors work with students to discuss financial aid options. These professionals are employed almost exclusively by institutes of higher learning, which includes for-profit schools and non-profit institutions; counselors may also consult at college fairs. Financial aid counselors typically work with other counselors and the employees in the bursar's office to provide correct information to students, who may have little to no knowledge about financial aid. A typical day for financial aid counselors includes working during regular business hours, making appointments with students or helping walk-ins, discussing a financial plan with those students, and researching new developments in financial aid.

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Financial Aid Counselor Tasks

  • Coordinate and administer financial aid appeals.
  • Package, award, and disburse funds to students.
  • Assist in the review of students' financial aid applications.
  • Counsel students and parents about self-help financial aid programs, eligibility requirements, and application processes.
  • Plan and perform financial aid workshops to staff and students.

Common Career Paths for Financial Aid Counselor


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Financial Aid Counselors may go on to top-notch roles like Assistant Director of Financial Aid, where median pay is $44K annually.

Financial Aid Counselor Job Listings

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Professional skills reported by Financial Aid Counselors are few in number. Most notably, skills in Counseling, Financial Applications, Financial Analysis, and Customer Service are correlated to pay that is above average. Skills that pay less than market rate include Financial Advisor. Experience with Counseling is often linked with knowledge of Customer Service.

Pay by Experience Level for Financial Aid Counselor

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


Financial Aid Counselors with more experience do not necessarily bring home bigger paychecks. In fact, experience in this field tends to impact compensation minimally. Salaries for inexperienced workers average out to $35K, and those with five to 10 years' experience earn a higher median of $34K. People with 10 to 20 years of experience make an average of about $37K in this role. Ultimately, more time spent in the workforce does seem to translate to bigger paychecks; seasoned veterans with more than 20 years of experience report a median income of $48K.

Financial Aid Counselor Advice

What do you wish you knew about your job when you first started out?

Financial Aid Counselor in New York:
"I Wish I Knew About The Politics Of The Company."
Well, you will need to develop thick skin. People may not like working with you but you still have to do what is right for the school and still help the parent understand what may be wrong. You should be able to be personable, honest, open minded and have excellent communication skills.

Related Job Salaries

Experience Affects Financial Aid Counselor Salaries

Late-Career
up arrow 39%

Experienced
up arrow 7%

Mid-Career
up arrow 3%

National Average
$34,000

Entry-Level
up arrow 2%

Skills That Affect Financial Aid Counselor Salaries

Counseling
up arrow 4%

Financial Applications
up arrow 4%

Customer Service
up arrow 2%

Financial Analysis
up arrow 2%

National Average
$34,000

Financial Advisor
up arrow 10%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 47 votes.

Gender

Female
84 %
Male
16 %

Years of Experience

Less than 1 year
7%
1-4 years
53%
5-9 years
25%
10-19 years
10%
20 years or more
5%

Common Health Benefits

medical benefits Medical: 89% dental benefits Dental: 77%
vision benefits Vision: 63% employee benefits None: 8%