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Financial Consultant Salary

Median pay for Financial Consultants in the United States lies in the neighborhood of $63K per year. 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 $125K depending on individual performance. The most influential factor affecting pay for this group is the particular firm, though career duration and location have a (lesser) impact as well. Most workers in this position report high levels of job satisfaction. Male Financial Consultants who responded to the survey are more common than women; more than half (64 percent) are men. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to the greater part. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$35,640 - $102,488
(Median)
$36K
$63K
$100K
MEDIAN: $63,446
10%
50%
90%

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$13.78 - $102.29
(Median)
$14
$34
$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
$35,640 - $102,488  
   
Bonus
$2.50 - $18,803  
Profit Sharing
$408.51 - $9,787  
Commission
$2,400 - $97,591  
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).
)
$37,563 - $125,282  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 593
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
$13.78 - $102.29  
   
Overtime
$18.18 - $84.30  
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
$2.50 - $18,803  
   
Commission
$2,400 - $97,591  
Profit Sharing
$408.51 - $9,787  
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).
)
$37,563 - $125,282  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 87

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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


The PNC Financial Services Group, Inc., TIAA-CREF, Wells Fargo & Co., Charles Schwab & Co., Inc., and EY (Ernst & Young) are all popular places to work. Financial Consultants seeking a sizable paycheck can earn the most at Charles Schwab & Co., Inc., where the median salary comes to $81K, though the large pay difference between employees at the top ($41K) and those starting out ($233K) creates a rather diverse pay scale.

With a median salary of only $33K (less than half of the top paying employer's rate), The PNC Financial Services Group, Inc. lags significantly in the earnings department.

Popular Skills for Financial Consultant


Survey results suggest that Financial Consultants use a fairly large toolkit of professional skills. Lucky workers who know Financial Modeling can expect a significant pay bump, scoring salaries 22 percent above average. Investment Management and Financial Reporting are also correlated to pay that is above average, with increases between 7 percent and 22 percent. At the other end of the pay range are skills like Sales. For most people, competency in Financial Analysis indicates knowledge of 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. Workers in their first five years can expect to earn $60K, but people who have been around for five to 10 years earn a noticeably bigger sum of $74K. On average, Financial Consultants make $87K following one to two decades on the job. Professionals with more than two decades of experience behind them enjoy a prosperous six-figure median salary of $105K.

Pay Difference by Location


With a pay rate for Financial Consultants that is 24 percent greater than the national average, San Francisco offers a comfortable salary for those in this profession. Financial Consultants will also find cushy salaries in Minneapolis (+24 percent), Indianapolis (+20 percent), Washington (+13 percent), and Chicago (+11 percent). In San Antonio, salaries are 17 percent below the national average and represent the lowest-paying market. Two other places where employers offer below-median salaries are Louisville (15 percent less) and Philadelphia (14 percent less).

Related Job Salaries

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Experience Affects Financial Consultant Salaries




National Average
$70,000


Skills That Affect Financial Consultant Salaries

Financial Modeling
up arrow 22%

Investment Management
up arrow 22%





Financial Advisor
up arrow 4%

National Average
$70,000

up arrow 14%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 153 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
4%
1-4 years
37%
5-9 years
27%
10-19 years
22%
20 years or more
11%

Common Health Benefits

medical benefits Medical: 84% dental benefits Dental: 75%
vision benefits Vision: 64% employee benefits None: 14%