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Financial Counselor Salary (United States)

The average Financial Counselor in the United States earns approximately $15.50 per hour. Overall cash earnings of Financial Counselors stretch from $26K near the bottom to $50K at the top, and the heftiest packages can encompass around $2K each from bonuses and profit sharing. Residence and years of experience each impact pay for this group, with the former having the largest influence. A strong majority report receiving medical coverage from their employers and more than half collect dental insurance. In this field, women are more common than men; 80 percent of Financial Counselors are female. Job satisfaction for Financial Counselors is high. Responses to PayScale's salary questionnaire form the basis for this outline.
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%
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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
$29,150 - $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

Overall, survey participants reported applying a fair number of skills to their work. Most notably, skills in Counseling, Billing, Customer Service, and Insurance are correlated to pay that is above average. Skills that are correlated to lower pay, on the other hand, include Collections and Financial Advisor. Most people experienced in 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 many Financial Counselors, extensive experience does not lead to significantly more money. The median compensation for relatively untried workers is $34K; in the five-to-10 year group, it's higher at around $36K. Financial Counselors claiming one to two decades of experience make an estimated median of $36K. Old hands boasting more than twenty years of relevant experience report pay that is more or less commensurate with that extensive experience; average earnings for this group come out to approximately $41K. One to nine years of experience is standard for most employees in this area; a majority of respondents fit between this range. Experienced employees who have 10-20 years of experience make up just under a fourth of the workforce; inexperienced individuals who have been working for less than one year comprise fewer than one in twenty, and senior people with more than 20 years under their belt fill out the remaining less than 10 percent.

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.
Home to some of the best pay for Financial Counselors, Honolulu offers exceptional salaries, 34 percent above the national average. Those in search of high salaries should also consider checking out cities like Los Angeles, New York, Chicago, and Dallas, top-paying markets where Financial Counselors rake in more than the national norm (+23 percent, +19 percent, +11 percent, and +9 percent). 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%