Paraplanner Salary

Median pay for Paraplanners in the United States is around $40K annually. Including potential for bonuses and profit sharing — peaking near $9K and $6K, respectively — total cash payment to Paraplanners can bottom out near $30K or peak near $57K depending on individual performance. Geography is the biggest factor affecting pay for this group, followed by career length. Job satisfaction for Paraplanners is high. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 56 percent. About one-half report receiving medical coverage from their employers and just under one in three collect dental insurance. The data for this snapshot was collected from individuals who took PayScale's salary survey.
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$29,335 - $52,423
(Median)
$29K
$40K
$52K
MEDIAN: $40,120
10%
50%
90%

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$12.13 - $24.33
(Median)
$12
$18
$24
MEDIAN: $17.00
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$19K$38K$57K
Salary
$29,335 - $52,423  
   
Bonus
$0.00 - $8,521  
Profit Sharing
$760 - $6,112  
Commission
$0.00 - $5,087  
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).
)
$29,951 - $56,861  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 286
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$13$26$39
Hourly Rate
$12.13 - $24.33  
   
Overtime
$0.00 - $36.24  
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$26K$52K$78K
Bonus
$0.00 - $8,521  
   
Commission
$0.00 - $5,087  
Profit Sharing
$760 - $6,112  
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).
)
$29,951 - $56,861  
Country: United States | Currency: USD | Updated: 31 Mar 2015 | Individuals Reporting: 98

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Job Description for Paraplanner

A paraplanner is the junior member of a financial planning team, usually working under the direction of a senior financial planner. The paraplanner performs several of the necessary tasks in developing a financial plan for a customer. First, they gather financial reports and records from the client. Next, the paraplanner reviews the client's financial records and starts creating and modeling different possible financial scenarios. In the process of creating these scenarios, the paraplanner determines how assets should be allocated and ultimately uses this information to make recommendations on which financial plan should be followed.

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Paraplanner Tasks

  • Construct visual aides including charts, graphs, and tables to be used in meetings with clients.
  • Research financial databases and products that match clients' needs.
  • Support financial advisors in serving clients by preparing for meetings, investment research, making preliminary financial planning recommendations, and coordinate marketing events.

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Popular Skills for Paraplanner


Paraplanners generally report applying a varied skill set to their work. Most notably, skills in Financial Modeling, Investment Planning, Financial Reporting, and Financial Analysis are correlated to pay that is above average, with boosts between 4 percent and 12 percent. At the other end of the pay range are skills like Office Administration and Microsoft Excel. Most people skilled in Financial Analysis are similarly competent in Client Interaction.

Related Job Salaries

United States (change)

Experience Affects Paraplanner Salaries

Experienced
up arrow 20%


National Average
$41,000


Skills That Affect Paraplanner Salaries

Financial Modeling
up arrow 12%

Investment Planning
up arrow 8%

Financial Reporting
up arrow 4%

Financial Analysis
up arrow 1%

Client Interaction
0%

National Average
$41,000

Microsoft Excel
up arrow 7%

Office Administration
up arrow 11%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 89 votes.

Gender

Female
56 %
Male
44 %

Years of Experience

Less than 1 year
8%
1-4 years
60%
5-9 years
20%
10-19 years
12%
20 years or more
1%

Common Health Benefits

medical benefits Medical: 48% dental benefits Dental: 30%
vision benefits Vision: 18% employee benefits None: 51%