Paraplanner Salary

Paraplanners in the United States pull down an average of $44K annually. With some bonuses approaching $7K and certain profit sharing proceeds approaching $5K, overall incomes of Paraplanners spread between $32K and $63K depending on individual performance. Location is the biggest factor affecting pay for this group, followed by experience level. The majority of workers are highly satisfied with their job. Unfortunately, some people in this line of work are without benefits — half lack coverage. On the flip side, just over two-fifths have medical insurance and slightly less than a third receive dental plans. Men are slightly outnumbered by their female counterparts who answered the questionnaire, who make up a slight majority at 55 percent. The information for this rundown comes from respondents who completed PayScale's salary questionnaire.
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$34,089 - $63,206
$34K
$45K
$63K
MEDIAN: $44,890
10%
50%
90%

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$13.71 - $27.05
$14
$20
$27
MEDIAN: $19.60
10%
50%
90%

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$0$64K
Salary $34,089 - $63,206
Bonus $294 - $9,192
Profit Sharing $296 - $5,068
Commission $509
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).
)
$33,420 - $64,760
  • Country: United States
  • Currency: USD
  • Updated: 19 Nov 2017
  • Individuals Reporting: 301
Hourly Data $0$35
Hourly Rate $13.71 - $27.05
Overtime $1.57 - $35.76
Annual Data $0$64K
Bonus $294 - $9,192
Commission $509
Profit Sharing $296 - $5,068
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).
)
$33,420 - $64,760
  • Country: United States
  • Currency: USD
  • Updated: 19 Nov 2017
  • Individuals Reporting: 88

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

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

Paraplanner Job Listings

Popular Skills for Paraplanner


Survey results imply that Paraplanners put a diverse skill set to use. Most notably, skills in Financial Modeling, Customer Service, Financial Reporting, and Financial Analysis are correlated to pay that is above average. At the other end of the pay range are skills like Microsoft Excel and Office Administration. Most people experienced in Financial Analysis also know Client Interaction.

Pay by Experience Level for Paraplanner

Pay by Experience for a Paraplanner has a positive trend. An entry-level Paraplanner with less than 5 years of experience can expect to earn an average total compensation of $42,000 based on 254 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Paraplanner with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $51,000 based on 74 salaries. An experienced Paraplanner which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $51,000 based on 52 salaries. A Paraplanner with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $56,000 based on 6 salaries.

Pay Difference by Location

National Average: $45,578

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

For Paraplanners, San Francisco provides a pay rate that is 54 percent greater than the national average. Paraplanners can also look forward to large paychecks in cities like Denver (+14 percent), Houston (+12 percent), St. Louis (+11 percent), and Washington (+5 percent). Sacramento is home to the smallest salaries in the field, lagging the national average by 19 percent. Below-median salaries also turn up in Chicago and Columbus (14 percent lower and 7 percent lower, respectively).

Paraplanner Reviews

Q: What is it like working as a Paraplanner?

Paraplanner in Atlanta:
"Experience, financial plans, trading, client interaction."
Pros: Client interaction, experience with both advisors in client reviews, executing trades on behalf of advisors, responsibility in gathering and entering client financial data in eMoney, rebalancing 401(k)s based on fund options and making recommendations.
Cons: Total lack of benefits (insurances, defined contribution plan, etc.), limited time off, lack of presence of CEO in office, lack of direction/coordination for development of my role and delegation of tasks/procedures, would like more responsibility and more challenging tasks, still treated like a glorified intern although my title is paraplanner and am considered a full-time employee.

Related Job Salaries

Key Stats for Paraplanner

Gender

Female
55 %
Male
45 %

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 77 votes.
Less than 1 year
8%
1-4 years
56%
5-9 years
20%
10-19 years
14%
20 years or more
3%

Experience Affects Paraplanner Salaries

Late-Career
▲23%

▲12%

▲12%

National Average
$46,000

▼8%

Skills That Affect Paraplanner Salaries

National Average
$46,000

Financial Modeling
▼1%

Customer Service
▼1%

Financial Reporting
▼2%




Office Administration
▼16%

Microsoft Excel
▼17%

Job Satisfaction

Highly satisfied
Rated 4 out of 5
based on 77 votes.

Gender

Female
55 %
Male
45 %

Years of Experience

Less than 1 year
8%
1-4 years
56%
5-9 years
20%
10-19 years
14%
20 years or more
3%

Common Health Benefits

medical benefits
Medical: 44%
dental benefits
Dental: 28%
vision benefits
Vision: 21%
no benefits
None: 52%