In a profession for which the median take-home is approximately $71K, just below three-fifths of overall earnings for Financial Consultants arrives through commissions. Cash earnings for Financial Consultants — including $20K in bonuses and $16K in profit sharing proceeds near the top of the pay scale — generally stretch from $37K to $121K depending on individual performance. This group's pay is mainly influenced by the specific employer, followed by geography and years of experience. Male Financial Consultants are more prevalent than women among those who took the survey — 62 percent of professionals. Most workers in this position report high levels of job satisfaction. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
Read More
$39,771 - $107,026
(Median)
$40K
$65K
$110K
MEDIAN: $65,252
10%
50%
90%

Add this chart to your site: 640px    300px

$12.58 - $62.51
(Median)
$13
$23
$63
MEDIAN: $22.00
10%
50%
90%

Add this chart to your site: 640px    300px

National Salary Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$50K$100K$150K
Salary
$39,771 - $107,026  
   
Bonus
$1,024 - $19,601  
Profit Sharing
$400.00 - $16,000  
Commission
$2,936 - $83,745  
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).
)
$37,339 - $121,332  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 475
National Hourly Rate Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$27$54$81
Hourly Rate
$12.58 - $62.51  
   
Overtime
$26.71 - $78.22  
National Annualized Data (?
XAll compensation data shown are gross 10th to 90th percentile ranges. Take the PayScale Survey to find out how location influences pay for this job.
)
$0$60K$120K$180K
Bonus
$1,024 - $19,601  
   
Commission
$2,936 - $83,745  
Profit Sharing
$400.00 - $16,000  
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).
)
$37,339 - $121,332  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 64
United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Employers: 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 may not see large compensation differences if they transition into an upper-level role such as Financial Controller. Financial Controllers on average make about as much as Financial Consultants do. Many Financial Consultants choose to become Banking Branch Managers and Personal Financial Advisors as their careers advance. However, folks in those positions report median salaries of $19K less and $17K less, respectively.

Financial Advisor Job Listings

Search for more jobs:

Popular Employer Salaries for Financial Consultant


Dominating the field, TIAA-CREF, Charles Schwab & Co., Inc., Humana, Inc., Wells Fargo & Co., and EY (Ernst & Young) are top firms with a reputation for hiring a great number of Financial Consultants. Employees of Fidelity Investments can expect to make the most, with the company offering a median salary of $110K; however, pay is widely dispersed from bottom to top, ranging from $46K to $188K. Soaring salaries can also be found at Wells Fargo & Co., EY (Ernst & Young), and Charles Schwab & Co., Inc., where earnings of $83K, $77K, or $65K are standard for Financial Consultants.

Earnings fall especially short at The PNC Financial Services Group, Inc., where the median salary of $28K is the lowest in the field, 297 percent less than the top paying company. A few other companies with smaller-than-average paychecks include TIAA-CREF ($63K), Humana, Inc. ($65K), and Charles Schwab & Co., Inc. ($65K).

Popular Skills for Financial Consultant


Financial Consultants seem to require a rather large skill set. Lucky workers who know Financial Modeling can expect a significant pay bump, scoring salaries 26 percent above average. Investment Management and Budget Management are also correlated to pay that is above average, with increases between 21 percent and 26 percent. Those listing Sales as a skill should be prepared for drastically lower pay. Investment Planning and Financial Advisor also typically command lower compensation. 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.


Experience is an important factor influencing the compensation of Financial Consultants. Survey participants with less than five years' experience pocket $59K on average, but those with five to 10 years of experience enjoy a much bigger median of $86K. Financial Consultants see a median salary of $96K after reaching one to two decades on the job. Folks who have racked up more than 20 years in the field report incomes that aren't that much higher than less experienced individuals' earnings; the veterans make just $101K on average.

Pay Difference by Location

National Average: $70,625

Larger city markers indicate a job is popular in that location.

For Financial Consultants, busy Houston offers a higher-than-average pay rate, 93 percent above the national average. Financial Consultants can also look forward to large paychecks in cities like Los Angeles (+34 percent), Washington (+30 percent), New York (+22 percent), and Chicago (+22 percent). Those in the field find the lowest salaries in Denver, 19 percent below the national average. Workers in San Francisco and San Diego earn salaries that trail the national average for those in this profession (7 percent less and 6 percent less, respectively).

Related Job Salaries

United States (change)

Find Out Exactly What You Should Be Paid

United States (change)


Employers: Start Here »

Experience Affects Financial Consultant Salaries




National Average
$71,000


Skills That Affect Financial Consultant Salaries


Investment Management
up arrow 26%

Budget Management
up arrow 21%

Forecasting
up arrow 17%

Project Management
up arrow 16%




Microsoft Excel
up arrow 1%

National Average
$71,000


Investment Planning
up arrow 14%

up arrow 23%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 76 votes.

Gender

Female
38 %
Male
62 %

Years of Experience

Less than 1 year
6%
1-4 years
42%
5-9 years
27%
10-19 years
17%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 87%
dental benefits
Dental: 78%
medical benefits
Vision: 67%
dental benefits
None: 12%
ADVERTISEMENT