Financial Planner Salary

Financial Planners in the United States take home an average $60K annually. Individual bonuses, profit sharing and commission for Financial Planners — as high as $21K, $15K and $97K, respectively — each contribute to the degree of variation within overall compensation, ranging from $38K to $118K. Experience level is the main element affecting pay for this group — the specific employer and geography are driving factors as well. Although a strong majority have medical coverage and a majority have dental coverage, just over a fifth claim no health benefits at all. Men account for the majority of Financial Planners who responded to the questionnaire — 64 percent to be exact. The majority of Financial Planners claim high levels of job satisfaction. The figures in this rundown are based on the results of PayScale's salary questionnaire.
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$36,232 - $101,568
(Median)
$36K
$60K
$100K
MEDIAN: $59,504
10%
50%
90%

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$14.52 - $35.00
(Median)
$15
$20
$35
MEDIAN: $20
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$50K$100K$150K
Salary
$36,232 - $101,568  
   
Bonus
$499.05 - $20,578  
Profit Sharing
$727 - $14,813  
Commission
$0.00 - $97,343  
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).
)
$38,028 - $118,272  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 723
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$25$50$75
Hourly Rate
$14.52 - $35.00  
   
Overtime
$17.32 - $44.00  
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$50K$100K$150K
Bonus
$499.05 - $20,578  
   
Commission
$0.00 - $97,343  
Profit Sharing
$727 - $14,813  
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).
)
$38,028 - $118,272  
Country: United States | Currency: USD | Updated: 20 Jun 2015 | Individuals Reporting: 59
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Job Description for Financial Planner

A financial planner is an individual who works for a bank or investment company that advises individuals on how to make most of their money by suggesting; in some situations, the planner makes investments and financial decisions for customers. This position requires strong analytical skills and an outgoing personality, as a financial institution expects its financial planners to effectively help and retain clients over a long period of time. The financial planner may also set up investment seminars to help build new business and educate clients.

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Financial Planner Tasks

  • Follow-up with clients on plans, track successes, and inform about modifications.
  • Assist clients with estate management, tax returns, budgets, or other financial tasks.
  • Guide clients through financial self-analysis, including goal setting and advice to reach goals.

Financial Advisor Job Listings

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Popular Employer Salaries for Financial Planner


Heading up the field in terms of compensation, TIAA-CREF offers the most; Financial Planners earn $93K on average there.

Considering that the median salary at Ameriprise Financial, Inc. is a shallow $51K, it is not surprising that this employer ranks last in compensation relative to (and far behind) other companies in the same line of work — their median pay is about half the top paying employer's rate.

Popular Skills for Financial Planner


Overall, survey participants reported applying a fair number of skills to their work. Lucky workers who know Tax Consulting can expect a significant pay bump, scoring salaries 31 percent above average. Investment Planning and Investment Management are also correlated to pay that is above average, with increases between 11 percent and 31 percent. At the other end of the pay range are skills like Tax Preparation, Microsoft Excel, and Financial Analysis. Most people skilled in Financial Advisor are similarly competent in Financial Analysis.

Pay by Experience Level for Financial Planner

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


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. Respondents with less than five years' experience take home $52K on average. In contrast, those who have been around for five to 10 years earn a noticeably higher average of $72K. For Financial Planners, 10 to 20 years of experience on the job amounts to an average salary of $95K. Respondents who claim more than 20 years of experience may encounter pay that doesn't quite reflect their extensive experience; these veterans report a median income of around $97K.

Pay Difference by Location


Surpassing the national average by 52 percent, Financial Planners in San Francisco receive some of the highest pay in the country. Financial Planners can also look forward to large paychecks in cities like Philadelphia (+36 percent), Seattle (+31 percent), Charlotte (+19 percent), and Chicago (+15 percent). Falling short of the national average by 7 percent, the area with the worst salaries is Minneapolis. Employers in San Diego and Atlanta also lean toward paying below-median salaries (5 percent lower and 3 percent lower, respectively).

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Experience Affects Financial Planner Salaries




National Average
$63,000


Skills That Affect Financial Planner Salaries

Tax Consulting
up arrow 31%


Investment Management
up arrow 11%


Strategic Planning
up arrow 9%

National Average
$63,000

Financial Analysis
up arrow 4%

Microsoft Excel
up arrow 5%

Tax Preparation
up arrow 9%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 115 votes.

Gender

Female
36 %
Male
64 %

Years of Experience

Less than 1 year
9%
1-4 years
37%
5-9 years
26%
10-19 years
19%
20 years or more
9%

Common Health Benefits

medical benefits Medical: 76% dental benefits Dental: 56%
vision benefits Vision: 44% employee benefits None: 22%
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