Financial Counselor Salary

Financial Counselors in the United States pull down an average of $15.85 per hour. Overall cash earnings for Financial Counselors stretch from $27K on the lower end to $50K near the top, and the heftiest packages can encompass around $3K from bonuses and $4K from profit sharing. Residence is the biggest factor affecting pay for this group, followed by years of experience. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Women make up the vast majority of Financial Counselors (81 percent) who answered the questionnaire. Job satisfaction is high and work is enjoyable for most Financial Counselors. This snapshot results from replies to PayScale's salary survey.

$29,876 - $58,674

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$12.16 - $20.79

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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$20K$40K$60K
Salary
$29,876 - $58,674  
   
Bonus
$0.00 - $2,504  
Profit Sharing
$0.50 - $3,500  
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).
)
$26,592 - $50,224  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 220
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$11$22$33
Hourly Rate
$12.16 - $20.79  
   
Overtime
$9.64 - $30.94  
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$22K$44K$66K
Bonus
$0.00 - $2,504  
   
Profit Sharing
$0.50 - $3,500  
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).
)
$26,592 - $50,224  
Country: United States | Currency: USD | Updated: 18 Jul 2015 | Individuals Reporting: 516
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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


Financial Counselors generally report applying a varied skill set to their work. Most notably, facility with Financial Advisor and Counseling are correlated to pay that is significantly above average, leading to increases of 27 percent and 12 percent, respectively. At the other end of the pay range are skills like Collections. Those educated in Customer Service tend to be well versed in 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. The average beginner in this position makes around $34K, but folks who have been around for five to 10 years see a markedly higher median salary of $37K. Financial Counselors bring in $38K after working for 10 to 20 years. Veterans who have acquired more than 20 years report a median income of $40K, which is generally higher than the pay reported by other tenure groups.

Pay Difference by Location


Financial Counselors will find that Honolulu offers an impressive pay rate, one which exceeds the national average by 32 percent. Financial Counselors can also look forward to large paychecks in cities like Los Angeles (+23 percent), Boston (+17 percent), Houston (+17 percent), and Philadelphia (+15 percent). Nashville is the lowest-paying area, 9 percent south of the national average. Employers also pay below the national average in Pittsburgh and Tampa (7 percent lower).

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Experience Affects Financial Counselor Salaries




National Average
$35,000


Skills That Affect Financial Counselor Salaries

Financial Advisor
up arrow 27%

Counseling
up arrow 12%

Billing
up arrow 2%

National Average
$35,000

Customer Service
up arrow 1%

Insurance
up arrow 2%

Collections
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 146 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
4%
1-4 years
39%
5-9 years
28%
10-19 years
22%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 71%
vision benefits Vision: 60% employee benefits None: 16%
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