Financial Counselor Salary

Financial Counselors in the United States can expect wages of $15.61 per hour on average. Including potential bonuses and profit sharing proceeds (more than $2K for each in exceptional cases) overall income bottoms out near $26K and hits $50K on the high end. Geographic location is the biggest factor affecting pay for this group, followed by years of experience. Medical benefits are awarded to a strong majority, and a fair number earn dental coverage. For the most part, Financial Counselors enjoy their work and report high levels of job satisfaction. The vast majority of Financial Counselors (81 percent) who participated in the survey are women. The data in this summary comes from the PayScale salary survey.

$29,722 - $57,828
(Median)
$30K
$41K
$58K
MEDIAN: $40,891
10%
50%
90%

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$12.00 - $20.60
(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
$29,722 - $57,828  
   
Bonus
$0.00 - $2,025  
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).
)
$26,073 - $49,870  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 200
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
$12.00 - $20.60  
   
Overtime
$9.51 - $29.69  
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 - $2,025  
   
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).
)
$26,073 - $49,870  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 469

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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. Most notably, facility with Financial Advisor and Counseling are correlated to pay that is significantly above average, leading to increases of 28 percent and 12 percent, respectively. Skills that pay less than market rate include Collections. Those proficient in Collections are, more often than not, also skilled 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, more experience in the field does not usually mean bigger paychecks. Those who have worked for fewer than five years take home a median salary of $34K, and workers with five to 10 years of experience earn a higher $37K on average. The average pay reported by folks with 10 to 20 years of experience is around $37K. Financial Counselors who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $41K.

Related Job Salaries

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Experience Affects Financial Counselor Salaries




National Average
$35,000


Skills That Affect Financial Counselor Salaries

Financial Advisor
up arrow 28%

Counseling
up arrow 12%

Billing
up arrow 3%

National Average
$35,000

Customer Service
up arrow 1%

Insurance
up arrow 1%

Collections
up arrow 3%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 148 votes.

Gender

Female
81 %
Male
19 %

Years of Experience

Less than 1 year
4%
1-4 years
39%
5-9 years
29%
10-19 years
22%
20 years or more
6%

Common Health Benefits

medical benefits Medical: 79% dental benefits Dental: 71%
vision benefits Vision: 60% employee benefits None: 16%