Financial Counselor Salary (United States)

Hourly wages for Financial Counselors in the United States typically come in around $15.50 per hour. The range in pay spans from $11.83 per hour to $20.32. Geographic location and tenure each impact pay for this group, with the former having the largest influence. The greater part report receiving medical coverage from their employers and about two-thirds collect dental insurance. The majority of workers are highly satisfied with their job. Figures cited in this summary are based on replies to PayScale's salary questionnaire.
Financial Counselor 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.
)
$29,150 - $57,699
(Median)
29K
34K
41K
49K
58K
MEDIAN: $40,769
10%
25%
50%
75%
90%
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Financial Counselor 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.
)
$11.83 - $20.32
(Median)
12
14
15
18
20
MEDIAN: $15.00
10%
25%
50%
75%
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$20K$40K$60K
Salary
$29,150 - $57,699  
   
Bonus
$0.00 - $1,965  
Profit Sharing
$0.25 - $2,043  
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).
)
$25,648 - $49,772  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 165
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$10$20$30
Hourly Rate
$11.83 - $20.32  
   
Overtime
$9.64 - $29.50  
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$20K$40K$60K
Bonus
$0.00 - $1,965  
   
Profit Sharing
$0.25 - $2,043  
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).
)
$25,648 - $49,772  
Country: United States | Currency: USD | Updated: 3 Sep 2014 | Individuals Reporting: 380
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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.

Financial Counselor Job Listings

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Popular Skills for Financial Counselor

Survey results show that Financial Counselors use a fair number of skills. Counseling and Billing are considered valuable skills and can increase employee pay by 20 percent and 4 percent respectively. At the other end of the pay range are skills like Collections and Financial Advisor. Most people who know Collections also know Insurance.

Pay by Experience Level for Financial Counselor

Median of all compensation (including tips, bonus, and overtime) by years of experience.
For Financial Counselors, level of experience is overall a somewhat less important part of the salary calculation—more experience does not yield dramatically higher pay—and pay raises are largely incremental. Standard salaries begin at $34K and can reach $36K after five to 10 years. Those with one to two decades of experience under their belt tend to see salaries around $36K. After a couple decades on the job, Financial Counselors see only modest salary growth, with pay averaging $41K. Experienced employees who have 10-20 years of experience make up about a quarter 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 6 percent. Around two-thirds of respondents report one to nine years of experience.

Pay Difference By Location

Honolulu
up arrow 34%
Los Angeles
up arrow 23%
New York
up arrow 19%
Chicago
up arrow 11%
Dallas
up arrow 9%
Cleveland
up arrow 2%
National Average
$35,000
Tampa
up arrow 4%
Larger circles over a city indicate a job is popular in that location.
For Financial Counselors, working in the bustling city of Honolulu has its advantages, including an above-average pay rate. Other urban areas shelling out big bucks include Los Angeles, New York, Chicago, and Dallas, where Financial Counselors typically earn around 23 percent, 19 percent, 11 percent, and 9 percent more than usual. Trailing the national average by 4 percent, Tampa is the market with the smallest paychecks.

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Experience Affects Financial Counselor Salaries

Late-Career
up arrow 17%
National Average
$35,000

Skills That Affect Financial Counselor Salaries

Counseling
up arrow 20%
Billing
up arrow 4%
National Average
$35,000
Customer Service
up arrow 1%
Insurance
up arrow 3%
Financial Advisor
up arrow 5%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 129 votes.

Gender

Female
80%
female alumni
 
Male
20%
male alumni

Years of Experience

Less than 1 year
2%
1-4 years
40%
5-9 years
29%
10-19 years
22%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 69%
vision benefits Vision: 58% employee benefits None: 16%