$67,078
Avg. Salary
$22.55
Avg. Hourly Rate

Average additional compensation:

$7,686

Bonus

$3,052

Profit Sharing

$30,000

Commission

What am I worth?
How should I pay?

The average pay for a Financial Consultant is $22.55 per hour.

The average pay for a Financial Consultant is $67,078 per year.

10%
$13.36
10%
$22.55
50%
$59.73
90%
90%
MEDIAN $22.55
10%
$42k
10%
$67k
50%
$108k
90%
90%
MEDIAN $67,078
$41,571 - $107,679
$42K
$67K
$110K
MEDIAN: $67,078
10%
50%
90%

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$13.36 - $59.73
$13
$23
$60
MEDIAN: $22.55
10%
50%
90%

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$0$123K
Salary $41,571 - $107,679
Bonus $1,954 - $25,152
Profit Sharing $961 - $19,161
Commission $2,928 - $116,000
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).
)
$40,105 - $123,813
  • Country: United States
  • Currency: USD
  • Updated: 16 May 2019
  • Individuals Reporting: 943
Hourly Data $0$83
Hourly Rate $13.36 - $59.73
Overtime $26.28 - $83.83
Annual Data $0$123K
Bonus $1,954 - $25,152
Commission $2,928 - $116,000
Profit Sharing $961 - $19,161
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).
)
$40,105 - $123,813
  • Country: United States
  • Currency: USD
  • Updated: 16 May 2019
  • Individuals Reporting: 131

Job Description for Financial Consultant

A financial consultant advises clients of an investment bank or financial services company on the best way to manage their money. They assesses customers' financial needs and work with them to build an investment portfolio that is comfortable for the client and builds wealth. To be successful, a financial consultant must build a client base; they need to identify prospective clients and cultivate relationships with them. Consultants may need to be creative in developing ways to attract new clients, although some larger companies clients may assign clients to consultants.

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

Popular Employer Salaries for Financial Consultant


Financial Consultants flock to Humana, Inc., TIAA-CREF, Fidelity Investments, Charles Schwab & Co., Inc., and UnitedHealth Group, highly regarded companies that employ a generous number of people in this profession. Although Fidelity Investments leads the field in pay with a median salary of $108K, employees there receive a wide spread of salaries, from $46K on the low end all the way up to $183K at the top. Other leaders in compensation levels are Wells Fargo & Co. at $85K, Wells Fargo Advisors Financial Network, LLC at $82K, and EY (Ernst & Young), where Financial Consultants annually earn $79K.

Other low-paying employers include Humana, Inc. at $63K and Charles Schwab & Co., Inc. at $68K, though some Financial Consultants there earn up to $196K.

Common Career Paths for Financial Consultant


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Although some Financial Consultants become Financial Controller, this progression is not the norm. However, the latter position does pay a little more at $77K. Financial Consultants most often move into positions as Banking Branch Managers or Personal Financial Advisors. Banking Branch Managers actually earn $17K less on average, however, and Personal Financial Advisors earn $15K less per year than Financial Consultants do.

Financial Consultant Job Listings

Popular Skills for Financial Consultant


Financial Consultants seem to require a rather large skill set. Most notably, facility with Investment Management, Financial Modeling, and Project Management are correlated to pay that is significantly above average, leading to increases of 29 percent, 23 percent, and 22 percent, respectively. Skills that are correlated to lower pay, on the other hand, include Sales, Investment Planning, and Forecasting. Most people who know Financial Analysis also know Data Analysis.

Pay by Experience Level for Financial Consultant

Pay by Experience for a Financial Consultant has a positive trend. An entry-level Financial Consultant with less than 5 years of experience can expect to earn an average total compensation of $59,000 based on 312 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Financial Consultant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $86,000 based on 178 salaries. An experienced Financial Consultant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $100,000 based on 99 salaries. A Financial Consultant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $102,000 based on 43 salaries.

Pay Difference by Location

National Average: $72,655

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

For Financial Consultants, busy Houston offers a higher-than-average pay rate, 99 percent above the national average. Financial Consultants will also find cushy salaries in Washington (+47 percent), Los Angeles (+40 percent), Oakland (+39 percent), and New York (+27 percent). Financial Consultants in St. Louis earn salaries far below the national average by 25 percent, proving that geography overwhelmingly affects the pay scale for those in this field. Employers also pay below the national average in Denver (24 percent lower) and San Antonio (16 percent lower).

Financial Consultant Reviews

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

Financial Consultant in Minneapolis:
Pros: Good sized market, profitable city.
Cons: The weather/location.

Financial Consultant in Seattle:
"Slow to adapt."
Pros: Benefits package.
Cons: Compliance centric, slow to adapt, too sales focused at the expense of customers.

Financial Consultant in Providence:
"Good so far."
Go big or don't even bother.

Related Job Salaries

Key Stats for Financial Consultant

Gender

Female
37 %
Male
62 %

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 193 votes.
Less than 1 year
7%
1-4 years
43%
5-9 years
24%
10-19 years
17%
20 years or more
9%

Experience Affects Financial Consultant Salaries

▲41%

▲37%

▲18%

National Average
$73,000

▼19%

Skills That Affect Financial Consultant Salaries

Investment Management
▲22%


Project Management
▲16%




Budget Management
▼0%

National Average
$73,000



Forecasting
▼16%

Investment Planning
▼16%

▼21%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 193 votes.

Gender

Female
37 %
Male
62 %

Years of Experience

Less than 1 year
7%
1-4 years
43%
5-9 years
24%
10-19 years
17%
20 years or more
9%

Common Health Benefits

medical benefits
Medical: 83%
dental benefits
Dental: 75%
vision benefits
Vision: 67%
no benefits
None: 16%