Financial Consultant Salary (United States)

Financial Consultants in the United States pull down an average of $68,369 annually. The range in pay spans from $35,591 to $128,872 per year. Total cash incomes of Financial Consultants run from $35,591 to $128,872, depending on bonuses that can occasionally exceed $19,887, profit sharing that reaches $14,899, and some commissions of nearly $100K. Earnings for this group are mostly affected by career duration, followed by geography and the specific company. A solid majority enjoy medical while most get dental coverage in this occupation. Vision coverage is also available to more than half. For the most part, Financial Consultants enjoy their work and report high levels of job satisfaction. This synopsis is derived from the responses of 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%
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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%
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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
$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
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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 correlate with a rise in salary. Typically, lower-level Financial Consultants earn similar salaries to those in higher-end positions like Senior Financial Analyst.

Financial Consultant Job Listings

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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.
The consistently lowest paying firm on the list is TIAA-CREF, where the median salary is just $68,967. 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

Financial Consultants report using a pretty varied skill set on the job. 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 as skills, however, tend to be associated with significantly smaller paychecks. 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. At career start, salaries are typically $59K, which grow to $77K after five to 10 years. After spending one to two decades on the job, pay usually hovers around $100K. Wages continue to improve for Financial Consultants after 20 years in the field, and salaries border $116K. Experienced employees who have 10-20 years of experience make up about one-fifth of the workforce; inexperienced individuals who have been working for less than one year comprise less than five percent, and senior people with more than 20 years under their belt fill out the remaining 11 percent. Age distribution in this workforce is concentrated between one and nine years of experience; a majority of respondents fall in this range.

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.
For Financial Consultants, working in the bustling city of Oakland has its advantages, including an above-average pay rate. Other urban areas shelling out big bucks include San Francisco, Minneapolis, Washington, and Chicago, where Financial Consultants typically earn around 31 percent, 23 percent, 16 percent, and 14 percent more than usual. Trailing the national average by 20 percent, San Antonio is the market with the smallest paychecks. Louisville and Dallas are a couple other places where companies are known to pay below the median—salaries hover around -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%
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