Paraplanner Salary

The average Paraplanner in the United States earns approximately $40K per year. Cash earnings for Paraplanners — including $10K in bonuses and $6K in profit sharing proceeds near the top of the pay scale — generally stretch from $30K to $57K depending on individual performance. Location and years of experience each impact pay for this group, with the former having the largest influence. Women Paraplanners who took the survey just slightly outnumber men. Most workers in this position report high levels of job satisfaction. Medical benefits are awarded to slightly less than half, and just under one in three earn dental coverage. This report is based on responses to the PayScale salary survey.
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$29,536 - $52,394
(Median)
$30K
$40K
$52K
MEDIAN: $40,185
10%
50%
90%

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$12.17 - $24.21
(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
$29,536 - $52,394  
   
Bonus
$0.00 - $9,642  
Profit Sharing
$871 - $5,987  
Commission
$0.00 - $4,958  
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).
)
$30,224 - $56,636  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 313
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$12$24$36
Hourly Rate
$12.17 - $24.21  
   
Overtime
$0.00 - $36.00  
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$24K$48K$72K
Bonus
$0.00 - $9,642  
   
Commission
$0.00 - $4,958  
Profit Sharing
$871 - $5,987  
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).
)
$30,224 - $56,636  
Country: United States | Currency: USD | Updated: 2 Jul 2015 | Individuals Reporting: 101
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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, Customer Service, Financial Reporting, and Investment Planning are correlated to pay that is above average, with boosts between 9 percent and 12 percent. At the other end of the pay range are skills like Microsoft Excel and Office Administration. Most people skilled in Financial Analysis are similarly competent in Client Interaction.

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Experience Affects Paraplanner Salaries



National Average
$41,000


Skills That Affect Paraplanner Salaries

Financial Modeling
up arrow 12%

Customer Service
up arrow 10%

Financial Reporting
up arrow 9%


Financial Analysis
up arrow 1%

Client Interaction
up arrow 1%

National Average
$41,000

Office Administration
up arrow 7%

Microsoft Excel
up arrow 8%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 90 votes.

Gender

Female
54 %
Male
46 %

Years of Experience

Less than 1 year
7%
1-4 years
61%
5-9 years
19%
10-19 years
12%
20 years or more
1%

Common Health Benefits

medical benefits Medical: 46% dental benefits Dental: 31%
vision benefits Vision: 19% employee benefits None: 52%
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