Financial Consultant Salary (United States)

Financial Consultants in the United States can expect to earn an average of $68,369 annually. The pay spectrum stretches from $35,591 to $128,872 per year. Cash earnings of Financial Consultants—including $19,887 bonuses, $14,899 profit sharing proceeds, and $100K commissions near the top of the pay scale—stretch from approximately $34,190 to approximately $104,246 depending on individual performance. The most important factor affecting compensation for this group is experience level, followed by geography and the specific company. The majority in this profession are lucky enough to receive benefits; most get medical and dental insurance, and a majority get vision plans, too. Work is enjoyable for the better half of Financial Consultants who claim high levels of job satisfaction. The data for this snapshot was collected from individuals who took PayScale's salary survey.
Financial Consultant Salary (?
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.
)
$34,190 - $104,246
(Median)
34K
45K
62K
78K
100K
MEDIAN: $61,525
10%
25%
50%
75%
90%
Add this chart to your site: 640px    300px
Financial Consultant Salary (?
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.
)
$12.05 - $98.63
(Median)
12
35
51
99
MEDIAN: $35.00
10%
50%
75%
90%
Add this chart to your site: 640px    300px

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
$34,190 - $104,246  
   
Bonus
$302.01 - $19,887  
Profit Sharing
$705 - $14,899  
Commission
$2,061 - $97,444  
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).
)
$35,591 - $128,872  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 608
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$33$66$99
Hourly Rate
$12.05 - $98.63  
   
Overtime
$18.77 - $87.80  
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$70K$140K$210K
Bonus
$302.01 - $19,887  
   
Commission
$2,061 - $97,444  
Profit Sharing
$705 - $14,899  
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).
)
$35,591 - $128,872  
PayScale
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 88
Is Financial Consultant your job title? Get a personalized salary report!
Location:
United States (change)
Years in Field/Career:

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.
Read More...
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

Add this chart to your site:   640px 640px    300px 300px   Copy and paste this HTML:
Financial Consultants do not enjoy an increase in earnings as they climb the career ladder. More often than not, top-notch roles like Senior Financial Analyst will not offer more money than lower-level jobs in the same field.

Financial Consultant Job Listings

Search for more jobs:
job title / company
location

Popular Employer Salaries for Financial Consultant

For Financial Consultants, comfortable salaries can be found at Charles Schwab & Co., Inc.; in fact, typical earnings are around $105,000, the highest in the area, though the difference in the company's lowest and highest employee paychecks ($39,922 versus $236,576) is great.
TIAA-CREF reports the lowest median salary in the area (it's only $68,967) but some workers make up to $90,657, indicating a rather large gap in employee earnings. Also approaching the lower end are Wells Fargo & Co. at $75,500 and Charles Schwab & Co., Inc. at $105,000.

Popular Skills for Financial Consultant

Overall, survey participants reported applying a fair number of skills to their work. Most notably, facility with Financial Modeling, Financial Analysis, and Financial Reporting are correlated to pay that is significantly above average, leading to increases of 26 percent, 9 percent, and 7 percent, respectively. Financial Advisor and Sales, on the other hand, are typically associated with much lower pay. Those educated in Financial Analysis tend to be well-versed 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 but not all Financial Consultants, experience and pay levels seem to be correlated; more years in the business generally lead to more money. Starting at around $59K, salaries see a boost to $77K after five to 10 years. Salary comes to $100K after 10 to 20 years. Salaries reach six figures only after a substantial amount of time—20 years—is spent on the job, typically amounting to $100K. Experienced employees who have 10-20 years of experience make up 21 percent of the workforce; inexperienced individuals who have been working for less than one year comprise less than five, and senior people with more than 20 years under their belt fill out the remaining 11 percent. Workers in this area tend to have one to nine years of experience.

Pay Difference By Location

Oakland
up arrow 50%
San Francisco
up arrow 31%
Minneapolis
up arrow 23%
Washington
up arrow 16%
Chicago
up arrow 14%
up arrow 12%
Charlotte
up arrow 8%
National Average
$68,000
Hartford
up arrow 1%
Denver
up arrow 2%
Los Angeles
up arrow 3%
Dallas
up arrow 7%
Louisville
up arrow 15%
San Antonio
up arrow 20%
Larger circles over a city indicate a job is popular in that location.
Oakland is home to an above-average pay rate for Financial Consultants, 50 percent higher than the national average. Also paying near the top of the field are San Francisco, Minneapolis, Washington, and Chicago, where Financial Consultants annually earn 31 percent, 23 percent, 16 percent, and 14 percent more than the national average. Trailing the national average by 20 percent, San Antonio is the market with the smallest paychecks. Below-median salaries also turn up in Louisville and Dallas (-15 percent and -7 percent, respectively).

Related Job Salaries

Experience Affects Financial Consultant Salaries

National Average
$68,000

Skills That Affect Financial Consultant Salaries

Financial Modeling
up arrow 26%
National Average
$68,000
up arrow 11%
Financial Advisor
up arrow 25%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 187 votes.

Gender

Female
38%
female alumni
 
Male
62%
male alumni

Years of Experience

Less than 1 year
4%
1-4 years
38%
5-9 years
25%
10-19 years
21%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 83% dental benefits Dental: 74%
vision benefits Vision: 61% employee benefits None: 15%
Find Out Exactly What You Should Be Paid
Job Title:
Years in Field/Career:
Location:
United States (change)
- OR -