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Financial Consultant Salary

The average Financial Consultant in the United States earns approximately $64K annually. Cash earnings of Financial Consultants — including $19K in bonuses, $10K in profit sharing proceeds, and $98K in commissions near the top of the pay scale — stretch from approximately $38K to approximately $127K depending on individual performance. The particular firm is the main element affecting pay for this group — experience level and geography are driving factors as well. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. Male Financial Consultants are more prevalent than women among those who took the survey — 64 percent of professionals. Work is enjoyable for Financial Consultants, who typically claim high levels of job satisfaction. Respondents to the PayScale salary survey provided the data for this report.
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$35,757 - $105,160
(Median)
$36K
$64K
$110K
MEDIAN: $64,133
10%
50%
90%

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$14.22 - $100.22
(Median)
$14
$35
$100
MEDIAN: $34.00
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$50K$100K$150K
Salary
$35,757 - $105,160  
   
Bonus
$-0.44 - $18,864  
Profit Sharing
$673 - $10,304  
Commission
$2,384 - $97,871  
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).
)
$37,777 - $126,602  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 603
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$50$100$150
Hourly Rate
$14.22 - $100.22  
   
Overtime
$18.37 - $83.02  
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$100K$200K$300K
Bonus
$-0.44 - $18,864  
   
Commission
$2,384 - $97,871  
Profit Sharing
$673 - $10,304  
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).
)
$37,777 - $126,602  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 88

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Job Description for Financial Consultant

A financial consultant advises clients of an investment bank or financial services company on the best way to manage their money. They assesses customers' financial needs and work with them to build an investment portfolio that is comfortable for the client and builds wealth. To be successful, a financial consultant must build a client base; they need to identify prospective clients and cultivate relationships with them. Consultants may need to be creative in developing ways to attract new clients, although some larger companies clients may assign clients to consultants.

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Financial Consultant Tasks

  • Follow-up with clients on plans, track successes, and inform about modifications.
  • Assist clients with estate management, tax returns, budgets, or other financial tasks.
  • Guide clients through financial self-analysis, including goal setting and advice to reach goals.

Common Career Paths for Financial Consultant


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For Financial Consultants, career advancements do not tend to correlate with a rise in salary. On average, lower-level Financial Consultants earn similar salaries to those in higher-end positions like Senior Financial Analyst.

Financial Advisor Job Listings

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Popular Employer Salaries for Financial Consultant


Leading companies who hire large numbers of Financial Consultants include The PNC Financial Services Group, Inc., TIAA-CREF, Wells Fargo & Co., Charles Schwab & Co., Inc., and EY (Ernst & Young). For Financial Consultants, comfortable salaries can be found at Charles Schwab & Co., Inc.; in fact, average earnings are around $87K, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($49K versus $234K) is great.

The PNC Financial Services Group, Inc. reports the lowest median salary in the area by far — it's only $33K, 165 percent less than the top paying company.

Popular Skills for Financial Consultant


Survey results suggest that Financial Consultants put a wide range of professional skills to use. Most notably, facility with Financial Modeling, Investment Management, and Financial Reporting are correlated to pay that is significantly above average, leading to increases of 41 percent, 26 percent, and 8 percent, respectively. At the other end of the pay range are skills like Sales. It is often found that people who know Financial Analysis are also skilled in Data Analysis.

Pay by Experience Level for Financial Consultant

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


For many Financial Consultants, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Salaries of relatively inexperienced workers fall in the neighborhood of $60K, but folks who have racked up five to 10 years see a notably higher median of $75K. For Financial Consultants, 10 to 20 years of experience on the job amounts to an average salary of $88K. Professionals who achieve more than 20 years of experience generally enjoy cushy salaries; their median compensation sits in the ballpark of $104K, a plump six-figure sum.

Pay Difference by Location


Financial Consultants will find that Boston offers an impressive pay rate, one which exceeds the national average by 30 percent. Financial Consultants can also look forward to large paychecks in cities like San Francisco (+23 percent), Minneapolis (+23 percent), Indianapolis (+18 percent), and Chicago (+12 percent). The smallest paychecks in the market, 16 percent south of the national average, can be found in Louisville. Two other places where employers offer below-median salaries are Philadelphia (15 percent less) and Atlanta (13 percent less).

Related Job Salaries

United States (change)

Experience Affects Financial Consultant Salaries




National Average
$70,000


Skills That Affect Financial Consultant Salaries

Financial Modeling
up arrow 41%

Investment Management
up arrow 26%



Financial Advisor
up arrow 5%

Data Analysis
up arrow 4%

Microsoft Excel
up arrow 2%

National Average
$70,000

up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 149 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
4%
1-4 years
36%
5-9 years
27%
10-19 years
21%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 85% dental benefits Dental: 75%
vision benefits Vision: 64% employee benefits None: 14%
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