Financial Consultant Salary

Commissions form a big slice (just under a third) of total compensation for Financial Consultants. The median income in this area hovers around $71K. Cash earnings for Financial Consultants — which occasionally include more than $20K from bonuses and more than $16K from profit sharing — stretch from around $39K to approximately $129K. Earnings for this group are mostly affected by geography, followed by the specific employer and tenure. Medical benefits are awarded to most, and a strong majority earn dental coverage. Men account for the majority of Financial Consultants who responded to the questionnaire — 63 percent to be exact. Work is enjoyable for Financial Consultants, who typically claim high levels of job satisfaction. Participants in PayScale's salary questionnaire provided the particulars of this report.
Read More
$36,985 - $108,984
(Median)
$37K
$65K
$110K
MEDIAN: $64,611
10%
50%
90%

Add this chart to your site: 640px    300px

$14.37 - $102.72
(Median)
$14
$34
$100
MEDIAN: $34.00
10%
50%
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
$36,985 - $108,984  
   
Bonus
$0.00 - $19,757  
Profit Sharing
$687 - $15,781  
Commission
$2,500 - $91,000  
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).
)
$39,324 - $129,468  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 602
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
$14.37 - $102.72  
   
Overtime
$20.00 - $82.50  
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
$0.00 - $19,757  
   
Commission
$2,500 - $91,000  
Profit Sharing
$687 - $15,781  
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).
)
$39,324 - $129,468  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 87
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

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


Financial Consultants who transition into an upper level Senior Financial Analyst position will not necessarily make much more than they do in their current role. The average Senior Financial Analyst makes $75K a year.

Financial Advisor Job Listings

Search for more jobs:

Popular Employer Salaries for Financial Consultant


Financial Consultants flock to The PNC Financial Services Group, Inc., TIAA-CREF, Wells Fargo & Co., Charles Schwab & Co., Inc., and EY (Ernst & Young), highly regarded companies that employ a generous number of people in this profession. Employees of Charles Schwab & Co., Inc. can expect to make the most, with the company offering a median salary of $88K; however, pay is widely dispersed from bottom to top, ranging from $50K to $233K.

The PNC Financial Services Group, Inc. pays significantly less than other places with a median salary of $33K, 168 percent less than the top paying company.

Popular Skills for Financial Consultant


Survey results show that Financial Consultants use a fair number of skills. Most notably, facility with Financial Modeling, Investment Management, and Financial Reporting are correlated to pay that is significantly above average, leading to increases of 39 percent, 24 percent, and 8 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Sales. Most people who know Financial Analysis also know Data Analysis.

Pay by Experience Level for Financial Consultant

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


Financial Consultants with a lot of experience tend to enjoy higher earnings. The average beginner in this position makes around $60K, but folks who have been around for five to 10 years see a markedly higher median salary of $77K. The average pay reported by folks with 10 to 20 years of experience is around $90K. Old hands who claim more than two decades on the job enjoy average earnings of $109K.

Pay Difference by Location


For Financial Consultants, working in the bustling city of Boston has its advantages, including an above-average pay rate. Financial Consultants can also look forward to large paychecks in cities like San Francisco (+21 percent), Minneapolis (+21 percent), Chicago (+16 percent), and Indianapolis (+14 percent). The lowest-paying market is Dallas, which sits 19 percent below the national average. Employers in Louisville and Philadelphia also lean toward paying below-median salaries (18 percent lower and 15 percent lower, respectively).

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Comp Managers: Start Here »

Experience Affects Financial Consultant Salaries




National Average
$71,000


Skills That Affect Financial Consultant Salaries


Investment Management
up arrow 24%



Financial Advisor
up arrow 4%

Data Analysis
up arrow 2%

Microsoft Excel
up arrow 1%

National Average
$71,000

up arrow 15%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 134 votes.

Gender

Female
37 %
Male
63 %

Years of Experience

Less than 1 year
4%
1-4 years
37%
5-9 years
26%
10-19 years
22%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 86% dental benefits Dental: 76%
vision benefits Vision: 65% employee benefits None: 13%
ADVERTISEMENT