Financial Counselor Salary

Financial Counselors in the United States take home an average $15.83 per hour. Total cash compensation to Financial Counselors approaches anywhere from $26K on the lower end to $50K on the higher end; in exceptional cases, this can include more than $2K from bonuses and upwards of $4K from profit sharing. Geographic location and tenure each impact pay for this group, with the former having the largest influence. For the most part, Financial Counselors enjoy their work and report high levels of job satisfaction. Among survey respondents, women are more common than men; 81 percent of Financial Counselors are female. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. Figures cited in this summary are based on replies to PayScale's salary questionnaire.

$29,688 - $58,462
(Median)
$30K
$41K
$58K
MEDIAN: $41,006
10%
50%
90%

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$12.11 - $20.81
(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
$29,688 - $58,462  
   
Bonus
$0.00 - $2,443  
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).
)
$26,385 - $50,306  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 215
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
$12.11 - $20.81  
   
Overtime
$9.56 - $30.13  
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 - $2,443  
   
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).
)
$26,385 - $50,306  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 505
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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 generally report applying a varied skill set to their work. 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. Those educated in Customer Service tend to be well versed in Collections.

Pay by Experience Level for Financial Counselor

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


Survey participants with less than five years' experience pocket $34K on average, but those with five to 10 years of experience enjoy a much bigger median of $37K. On average, Financial Counselors make $37K following one to two decades on the job. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $40K, which is substantially larger than the medians reported by folks with fewer years on their resumes.

Pay Difference by Location


Honolulu is home to an above-average pay rate for Financial Counselors, 32 percent higher than the national average. Financial Counselors will also find cushy salaries in Los Angeles (+22 percent), Boston (+18 percent), Houston (+17 percent), and Philadelphia (+15 percent). Falling short of the national average by 9 percent, the area with the worst salaries is Nashville. Below-median salaries also turn up in Pittsburgh and Tampa (7 percent lower and 6 percent lower, respectively).

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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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