Financial Counselor Salary

The average Financial Counselor in the United States earns approximately $16.61 per hour. Geography is the biggest factor affecting pay for this group, followed by years of experience. Job satisfaction is reported as high by the vast majority of workers. Women account for the majority of Financial Counselors who took the survey — 84 percent to be exact. Medical benefits are awarded to most, and a strong majority earn dental coverage. This snapshot results from replies to PayScale's salary survey.

$31,730 - $62,114
$32K
$43K
$62K
MEDIAN: $42,671
10%
50%
90%

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$13.15 - $21.60
$13
$17
$22
MEDIAN: $16.61
10%
50%
90%

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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$21K$42K$63K
Salary
$31,730 - $62,114  
   
Bonus
$0.00 - $9,826  
Profit Sharing
$500  
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).
)
$28,346 - $50,767  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 144
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$12$24$36
Hourly Rate
$13.15 - $21.60  
   
Overtime
$20.25 - $35.22  
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$24K$48K$72K
Bonus
$0.00 - $9,826  
   
Profit Sharing
$500  
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).
)
$28,346 - $50,767  
Country: United States | Currency: USD | Updated: 18 Jan 2017 | Individuals Reporting: 473

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United States (change)

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Job Description for Financial Counselor

Financial counselors are responsible for providing key financial information to clients, offering financial assistance and arrangements as needed. They are in charge of establishing relationships to ensure satisfactory financial resolution for their organization. They provide one-on-one financial counseling to educate clients on their options, handle insurance information, and review documentation and financial information to approve reimbursements. Financial counselors also verify clients' eligibility for programs based on program requirements, as well as help secure payment agreements between their organization and external parties.

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Financial Counselor Tasks

  • Investigate insurance coverage, financial assistant options, and calculate out of pocket expenses.
  • Meet with clients to discuss finances, cost of services, interest and payment options.
  • Counsel individuals and families regarding various financial decisions, including budgeting, debt management and paying for medical treatment.

Common Career Paths for Financial Counselor


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Many Financial Counselors advance their careers by becoming Patient Access Supervisors, who report a slightly higher median income of $42K.

Financial Counselor Job Listings

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Popular Skills for Financial Counselor


Survey results imply that Financial Counselors deploy a deep pool of skills on the job. Lucky workers who know Financial Advisor can expect a significant pay bump, scoring salaries 40 percent above average. Financial Analysis and Counseling are also correlated to pay that is above average, with increases between 32 percent and 40 percent. Skills that pay less than market rate include Collections, Medical Terminology, and bill collections. For most people, competency in Customer Service indicates knowledge of Collections.

Pay by Experience Level for Financial Counselor

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


Financial Counselors do not generally earn higher incomes from more experience in the field. Those in the early stages of their career can expect to make around $35K; however, individuals with five to 10 years of experience bring in $38K on average — a distinctly larger sum. After working for 10 to 20 years, Financial Counselors make a median salary of $40K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $41K.

Pay Difference by Location

National Average: $36,603

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

For Financial Counselors, New York provides a pay rate that is 35 percent greater than the national average. Financial Counselors can also look forward to large paychecks in cities like Boston (+28 percent), Honolulu (+28 percent), Houston (+22 percent), and Philadelphia (+21 percent). In Orlando, salaries are 20 percent below the national average and represent the lowest-paying market. Pittsburgh and Tampa are a couple other places where companies are known to pay below the median — salaries tend to be 10 percent less than the median.

Related Job Salaries

Key Stats for Financial Counselor

Gender

Female
84 %
Male
16 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 106 votes.
Less than 1 year
3%
1-4 years
40%
5-9 years
24%
10-19 years
25%
20 years or more
7%
Location:
Years in Fields/Career:
United States (change)

Experience Affects Financial Counselor Salaries

▲13%

▲9%

▲3%

National Average
$37,000

▼5%

Skills That Affect Financial Counselor Salaries

Financial Advisor
▲40%

Counseling
▲32%

Financial Analysis
▲32%

Epic Hospital Billing
▲19%

Financial Applications
▲12%

National Average
$37,000

Billing
▼1%


▼2%


▼6%

Medical Terminology
▼6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 106 votes.

Gender

Female
84 %
Male
16 %

Years of Experience

Less than 1 year
3%
1-4 years
40%
5-9 years
24%
10-19 years
25%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 78%
vision benefits
Vision: 67%
dental benefits
None: 13%
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