Financial Counselor Salary

Financial Counselors in the United States can expect to earn an average of $16.07 per hour. Final cash compensation to Financial Counselors varies from around $27K to approximately $51K; choice pay grades include potential for bonuses and profit sharing as high as $3K and $3K, respectively. Residence and years of experience each impact pay for this group, with the former having the largest influence. Job satisfaction for Financial Counselors is high. The vast majority of Financial Counselors (80 percent) who participated in the survey are women. A large number report receiving medical coverage from their employers and a fair number collect dental insurance. 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 transition into upper-level Patient Access Supervisor positions. Patient Access Supervisors earn a median of $42K per year.

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 36 percent and 17 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Collections. Most people experienced in 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.


For Financial Counselors, experience does not seem to be a major factor in determining pay. Those in the early stages of their career can expect to make around $34K; however, individuals with five to 10 years of experience bring in $38K on average — a distinctly larger sum. Financial Counselors see a median salary of $38K after reaching one to two decades on the job. Financial Counselors who have acquired more than two decades of experience generally do see greater compensation; their average income is approximately $41K.

Pay Difference by Location

National Average: $35,734

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

For those looking to make money, Financial Counselors in Honolulu enjoy an exceptional pay rate, 31 percent above the national average. Financial Counselors will also find cushy salaries in Los Angeles (+20 percent), Boston (+16 percent), Philadelphia (+15 percent), and New York (+15 percent). Falling short of the national average by 9 percent, the area with the worst salaries is Nashville. A couple other locations with smaller-than-average paychecks include Pittsburgh (8 percent lower) and Tampa (7 percent lower).

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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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