Financial Counselor Salary

Financial Counselors in the United States can expect to earn an average of $16.07 per hour. Total incomes of Financial Counselors incorporate potential for, in a few cases, more than $3K from bonuses and close to $3K from profit sharing; these performance components cause packages to range between $27K and $51K. Location is the biggest factor affecting pay for this group, followed by experience level. Medical benefits are awarded to most, and a strong majority earn dental coverage. There are far more female Financial Counselors who answered the questionnaire than men, making up 80 percent. Most Financial Counselors like their work and job satisfaction is high. The data for this snapshot was collected from individuals who took PayScale's salary survey.

$30,270 - $59,258
(Median)
$30K
$41K
$59K
MEDIAN: $41,396
10%
50%
90%

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$12.23 - $21.17
(Median)
$12
$16
$21
MEDIAN: $16.00
10%
50%
90%

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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
$30,270 - $59,258  
   
Bonus
$0.00 - $2,909  
Profit Sharing
$0.57 - $3,477  
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).
)
$26,938 - $50,793  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 247
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
$12.23 - $21.17  
   
Overtime
$9.72 - $32.72  
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 - $2,909  
   
Profit Sharing
$0.57 - $3,477  
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).
)
$26,938 - $50,793  
Country: United States | Currency: USD | Updated: 12 Jan 2016 | Individuals Reporting: 617
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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 36 percent and 17 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Collections. Those proficient in Customer Service are, more often than not, also skilled in 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. Salaries of relatively inexperienced workers fall in the neighborhood of $34K, but folks who have racked up five to 10 years see a notably higher median of $38K. The average pay reported by folks with 10 to 20 years of experience is around $38K. Veterans who have worked for more than two decades do tend to make the most in the end; the median pay for this group is $41K.

Pay Difference by Location

National Average: $35,734

Larger city markers indicate a job is popular in that location.

For Financial Counselors, Honolulu provides a pay rate that is 31 percent greater than the national average. Financial Counselors can also look forward to large paychecks in cities like Los Angeles (+20 percent), Boston (+16 percent), Philadelphia (+15 percent), and New York (+15 percent). Trailing the national average by 9 percent, Nashville is the market with the smallest paychecks. Employers in Pittsburgh and Tampa also lean toward paying below-median salaries (8 percent lower and 7 percent lower, respectively).

Related Job Salaries

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Experience Affects Financial Counselor Salaries




National Average
$36,000


Skills That Affect Financial Counselor Salaries

Financial Advisor
up arrow 36%

Counseling
up arrow 17%

Billing
up arrow 1%

Customer Service
0%

National Average
$36,000

Insurance
up arrow 1%

Collections
up arrow 4%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 166 votes.

Gender

Female
80 %
Male
20 %

Years of Experience

Less than 1 year
4%
1-4 years
39%
5-9 years
27%
10-19 years
23%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 73%
medical benefits
Vision: 62%
dental benefits
None: 15%
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