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Financial Counselor Salary (United States)

Pay for Financial Counselors in the United States sits in the ballpark of $15.53 per hour. In the world of Financial Counselors, overall income ranges from $26K near the bottom to $49K at the top; this can include more than $2K from bonuses and more than $2K from profit sharing in exceptional cases. Geographic location is the biggest factor affecting pay for this group, followed by experience level. A strong majority enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half. The majority of workers are highly satisfied with their job. Women account for the majority of Financial Counselors who took the survey — 81 percent to be exact. This report is based on responses to the PayScale salary survey.
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.
)
$29,492 - $57,654
(Median)
29K
34K
41K
48K
58K
MEDIAN: $40,748
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.
)
$11.95 - $20.35
(Median)
12
14
16
18
20
MEDIAN: $15.00
10%
25%
50%
75%
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$20K$40K$60K
Salary
$29,492 - $57,654  
   
Bonus
$0.00 - $1,968  
Profit Sharing
$0.34 - $2,076  
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).
)
$25,869 - $49,243  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 184
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
$11.95 - $20.35  
   
Overtime
$9.74 - $29.06  
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 - $1,968  
   
Profit Sharing
$0.34 - $2,076  
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).
)
$25,869 - $49,243  
Country: United States | Currency: USD | Updated: 11 Dec 2014 | Individuals Reporting: 428
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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

Financial Counselors seem to require a number of specific skills. Most notably, skills in Counseling, Financial Advisor, Billing, and Insurance are correlated to pay that is above average, with boosts between 4 percent and 13 percent. Skills that pay less than market rate include Collections. Those educated in Collections tend to be well versed in 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 appears to be a somewhat less important part of the salary calculation — more experience does not correlate to noticeably higher pay. Workers with less than five years' experience earn around $34K on average, and those who have five to 10 years under their belts see a higher median salary of $37K. Financial Counselors bring in $37K after working for 10 to 20 years. After two decades in the workforce, the average Financial Counselor generally earns more than ever; median pay for this group is estimated at $40K.

Pay Difference By Location

Honolulu
up arrow 34%
Los Angeles
up arrow 22%
Philadelphia
up arrow 19%
New York
up arrow 16%
Houston
up arrow 15%
Chicago
up arrow 10%
Boston
up arrow 10%
Dallas
up arrow 4%
Orlando
up arrow 2%
Cleveland
up arrow 1%
National Average
$35,000
Atlanta
up arrow 2%
Tampa
up arrow 5%
Nashville
up arrow 7%
Pittsburgh
up arrow 8%
Larger circles over a city indicate a job is popular in that location.
Home to some of the best pay for Financial Counselors, Honolulu offers exceptional salaries, 34 percent above the national average. Financial Counselors can also look forward to large paychecks in cities like Los Angeles (+22 percent), Philadelphia (+19 percent), New York (+16 percent), and Houston (+15 percent). Pittsburgh ranks last in the field for pay, reporting salaries 8 percent below the national average. Not at the bottom but still paying below the median are employers in Nashville and Tampa (7 percent lower and 5 percent lower, respectively).

Related Job Salaries

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Experience Affects Financial Counselor Salaries

National Average
$35,000

Skills That Affect Financial Counselor Salaries

Counseling
up arrow 13%
Financial Advisor
up arrow 11%
Billing
up arrow 4%
National Average
$35,000
Customer Service
up arrow 2%
Insurance
up arrow 2%

Job Satisfaction

Extremely satisfied Image
Extremely satisfied
Rated 5 out of 5 based on 139 votes.

Gender

Female
81%
female alumni
 
Male
19%
male alumni

Years of Experience

Less than 1 year
4%
1-4 years
40%
5-9 years
29%
10-19 years
21%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 80% dental benefits Dental: 70%
vision benefits Vision: 59% employee benefits None: 16%