Financial Counselor Salary

Median pay for Financial Counselors in the United States is around $15.82 per hour. Cash earnings for Financial Counselors — including $3K in bonuses and $4K in profit sharing proceeds near the top of the pay scale — generally stretch from $26K to $50K depending on individual performance. Residence is the biggest factor affecting pay for this group, followed by experience level. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to the greater part. Most workers in this position report high levels of job satisfaction. Women make up the vast majority of Financial Counselors (81 percent) who answered the questionnaire. The data in this summary comes from the PayScale salary survey.

$29,738 - $58,717
(Median)
$30K
$41K
$59K
MEDIAN: $41,019
10%
50%
90%

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$12.13 - $20.78
(Median)
$12
$16
$21
MEDIAN: $15.00
10%
50%
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
$29,738 - $58,717  
   
Bonus
$0.00 - $2,517  
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).
)
$26,444 - $50,306  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 219
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$11$22$33
Hourly Rate
$12.13 - $20.78  
   
Overtime
$9.61 - $30.52  
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$22K$44K$66K
Bonus
$0.00 - $2,517  
   
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).
)
$26,444 - $50,306  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 511
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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 into a slightly higher-paying Patient Access Supervisor position. Average compensation for Patient Access Supervisors is $42K.

Financial Counselor Job Listings

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Popular Skills for Financial Counselor


Survey results suggest that Financial Counselors put a wide range of professional skills to use. 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. Most people familiar with Customer Service also know Collections.

Pay by Experience Level for Financial Counselor

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


Experience and pay tend to be weakly linked for Financial Counselors — those with more experience do not necessarily bring in higher earnings. 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. On average, Financial Counselors make $37K following one to two decades on the job. In the end, the overall pattern seems to be that more experience generally corresponds to higher pay; a Financial Counselor with more than 20 years of experience can earn $40K on average.

Pay Difference by Location


For Financial Counselors, Honolulu provides a pay rate that is 32 percent greater than the national average. Financial Counselors can also look forward to large paychecks in cities like Los Angeles (+22 percent), Boston (+18 percent), Houston (+17 percent), and Philadelphia (+15 percent). Nashville is home to the smallest salaries in the field, lagging the national average by 9 percent. A couple other locations with smaller-than-average paychecks include Pittsburgh (7 percent lower) and Tampa (6 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 147 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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