Financial Counselors in the United States take home an average $16.66 per hour. With some bonuses approaching $10K and certain profit sharing proceeds approaching $4K, overall incomes of Financial Counselors spread between $28K and $51K depending on individual performance. Geography and years of experience each impact pay for this group, with the former having the largest influence. There are far more female Financial Counselors who answered the questionnaire than men, making up 83 percent. Most workers in this position report high levels of job satisfaction. A large number receive medical and dental insurance and the larger part get vision plans. Participants in PayScale's salary questionnaire provided the particulars of this report.

$32,068 - $66,102
(Median)
$32K
$42K
$66K
MEDIAN: $42,142
10%
50%
90%

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$13.20 - $21.55
(Median)
$13
$17
$22
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$23K$46K$69K
Salary
$32,068 - $66,102  
   
Bonus
$0.00 - $9,881  
Profit Sharing
$0.00 - $3,973  
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).
)
$28,421 - $51,113  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 152
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$12$24$36
Hourly Rate
$13.20 - $21.55  
   
Overtime
$18.99 - $35.62  
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$24K$48K$72K
Bonus
$0.00 - $9,881  
   
Profit Sharing
$0.00 - $3,973  
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).
)
$28,421 - $51,113  
Country: United States | Currency: USD | Updated: 28 Oct 2016 | Individuals Reporting: 456
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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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Financial Counselors often end up in upper-level roles like Patient Access Supervisor. Patient Access Supervisors bring home $42K annually on average.

Financial Counselor Job Listings

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Popular Skills for Financial Counselor


Survey results imply that Financial Counselors deploy a substantial tool kit of skills at work. Most notably, facility with Financial Advisor, Epic Hospital Billing, and Financial Analysis are correlated to pay that is significantly above average, leading to increases of 40 percent, 35 percent, and 31 percent, respectively. Skills that pay less than market rate include Collections, Medical Terminology, and bill collections. The majority of those who know 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.


More years of relevant experience do not necessarily translate to higher paychecks. Although individuals who have less than five years' experience earn $35K on average, people with five to 10 years benefit from a notably larger average of $38K. Financial Counselors with one to two decades of relevant experience report an average salary of approximately $40K. Individuals who have achieved more than 20 years of experience don't seem to earn much more than people who have 10 to 20 years under their belts; the more senior group reports an average income of $41K.

Pay Difference by Location

National Average: $36,753

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

Financial Counselors will find that Boston offers an impressive pay rate, one which exceeds the national average by 35 percent. Financial Counselors will also find cushy salaries in New York (+28 percent), Houston (+28 percent), Honolulu (+27 percent), and Chicago (+16 percent). The lowest-paying market is Orlando, which sits 20 percent below the national average. On the whole, employers pay 10 percent below the median salary for those in this field in Pittsburgh and Tampa.

Related Job Salaries

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Experience Affects Financial Counselor Salaries




National Average
$37,000


Skills That Affect Financial Counselor Salaries

Financial Advisor
up arrow 40%

Epic Hospital Billing
up arrow 35%

Financial Analysis
up arrow 31%

Counseling
up arrow 17%

Financial Applications
up arrow 11%

National Average
$37,000

Customer Service
up arrow 2%

Insurance
up arrow 2%

Billing
up arrow 2%

bill collections
up arrow 4%


Medical Terminology
up arrow 6%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 104 votes.

Gender

Female
83 %
Male
17 %

Years of Experience

Less than 1 year
4%
1-4 years
39%
5-9 years
25%
10-19 years
24%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 84%
dental benefits
Dental: 80%
medical benefits
Vision: 69%
dental benefits
None: 13%
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