Financial Counselor Salary

For Financial Counselors, hourly average wages total $16.98 per hour. Geography is the biggest factor affecting pay for this group, followed by experience level. Most enjoy medical while a strong majority get dental coverage. Vision coverage is also available to a majority. The majority of workers are highly satisfied with their job. Female Financial Counselors far outnumber their male contemporaries among survey respondents. Respondents to the PayScale salary survey provided the data for this report.

$31,530 - $60,510
$32K
$43K
$61K
MEDIAN: $42,775
10%
50%
90%

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$13.30 - $21.75
$13
$17
$22
MEDIAN: $16.97
10%
50%
90%

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$0$60K
Salary $31,530 - $60,510
Bonus $0.00 - $5,000
Profit Sharing $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).
)
$28,779 - $50,546
  • Country: United States
  • Currency: USD
  • Updated: 13 Sep 2017
  • Individuals Reporting: 154
Hourly Data $0$31
Hourly Rate $13.30 - $21.75
Overtime $19.57 - $31.64
Annual Data $0$50K
Bonus $0.00 - $5,000
Profit Sharing $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).
)
$28,779 - $50,546
  • Country: United States
  • Currency: USD
  • Updated: 13 Sep 2017
  • Individuals Reporting: 498

Find Out Exactly What You Should Be Paid

United States (change)

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

  • Counsel individuals and families regarding various financial decisions, including budgeting, debt management and paying for medical treatment.
  • Meet with clients to discuss finances, cost of services, interest and payment options.
  • Investigate insurance coverage, financial assistant options, and calculate out of pocket expenses.

Common Career Paths for Financial Counselor


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Many Financial Counselors advance their careers by becoming Patient Access Supervisors, who report a slightly higher median income of $42K.

Financial Counselor Job Listings

Popular Skills for Financial Counselor


Survey takers working as Financial Counselors report using a large range of professional skills. Most notably, facility with Financial Advisor, Financial Analysis, and Epic Hospital Billing are correlated to pay that is significantly above average, leading to increases of 38 percent, 30 percent, and 17 percent, respectively. Skills that pay less than market rate include Collections, Medical Terminology, and bill collections. Most people who know Customer Service also know Collections.

Pay by Experience Level for Financial Counselor

Pay by Experience for a Financial Counselor has a positive trend. An entry-level Financial Counselor with less than 5 years of experience can expect to earn an average total compensation of $35,000 based on 327 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Counselor with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $38,000 based on 183 salaries. An experienced Financial Counselor which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $40,000 based on 177 salaries. A Financial Counselor with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $41,000 based on 49 salaries.

Pay Difference by Location

National Average: $37,344

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

For Financial Counselors, New York provides a pay rate that is 33 percent greater than the national average. Financial Counselors can also look forward to large paychecks in cities like Honolulu (+26 percent), Philadelphia (+25 percent), Boston (+20 percent), and Chicago (+16 percent). Location significantly influences compensation, with Orlando Financial Counselors earning much less — 22 percent less — than the national average. Employers also pay below the national average in Pittsburgh (12 percent lower) and Tampa (11 percent lower).

Financial Counselor Reviews

Q: What is it like working as a Financial Counselor?

Financial Counselor in Bristol:
"Stressful."
Pros: I like helping people and customer service.
Cons: The stress of having to go to patient rooms when in hospital sick.

Financial Counselor in Merrillville:
"Like it so far."
Pros: Individualized work.
Cons: Repetitive.

Related Job Salaries

Key Stats for Financial Counselor

Gender

Female
86 %
Male
14 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 141 votes.
Less than 1 year
4%
1-4 years
39%
5-9 years
23%
10-19 years
26%
20 years or more
7%
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Location:
Years in Fields/Career:
United States (change)

Experience Affects Financial Counselor Salaries

▲11%

▲7%

▲2%

National Average
$37,000

▼7%

Skills That Affect Financial Counselor Salaries

Financial Advisor
▲38%

Financial Analysis
▲29%

Epic Hospital Billing
▲17%

Counseling
▲15%

Financial Applications
▲10%

National Average
$37,000


▼3%

Billing
▼3%


▼8%

Medical Terminology
▼8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 141 votes.

Gender

Female
86 %
Male
14 %

Years of Experience

Less than 1 year
4%
1-4 years
39%
5-9 years
23%
10-19 years
26%
20 years or more
7%

Common Health Benefits

medical benefits
Medical: 82%
dental benefits
Dental: 75%
vision benefits
Vision: 66%
no benefits
None: 15%
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