There are a large number of financial planners and investment advisors when compared to the total population in USA. The average salary/wage for this particular profession falls within the range $9k to $37k in year 2014. They are paid with base salary along with other benefits, such as bonuses and profit sharing. Staff accountants working in financial, accounting and auditing services generally receive average salaries between $38k and $58k per annum.
Financial planners are professionals who are trained to help individuals and families manage their finances. Financial planners usually work with clients on a one-on-one basis, but may also serve as a financial advisor at a company or organization.
Financial planners typically earn a bachelor’s degree in finance or business administration and then complete a certification program. In addition, they must be licensed in the state where they practice. Most financial planners work full-time; however, some may also take on part-time jobs as an independent contractor or consultant. According to the Bureau of Labor Statistics (BLS), the median annual salary for financial planners was $64,680 in May 2017
Salary for financial planner
How much does a Financial Planner Assistant make?
The average Financial Planner Assistant in the US makes $95,220. The average bonus for a Financial Planner Assistant is $14,029 which represents 15% of their salary, with 100% of people reporting that they receive a bonus each year. Financial Planner Assistants make the most in San Francisco at $115,291, averaging total compensation 21% greater than the US average.
U.S. Average
$95,220
$82,361$117,731
Base Salary
$81,191
Bonus
$14,029
Get Bonus
100%
Salary Ranges for Financial Planner Assistants
The salaries of Financial Planner Assistants in the US range from $82,361 to $117,731 , with a median salary of $92,598 . The middle 50% of Financial Planner Assistants makes between $92,626 and $100,574, with the top 83% making $117,731.
How much tax will you have to pay as a Financial Planner Assistant
For an individual filer in this tax bracket, you would have an estimated average federal tax in 2018 of 24%. After a federal tax rate of 24% has been taken out, Financial Planner Assistants could expect to have a take-home pay of $78,078/year, with each paycheck equaling approximately $3,253*.
* assuming bi-monthly pay period. Taxes estimated using tax rates for a single filer using 2018 federal and state tax tables. Metro-specific taxes are not considered in calculations. This data is intended to be an estimate, not prescriptive financial or tax advice.
Quality of Life for Financial Planner Assistant
With a take-home pay of roughly $6,506/month, and the median 2BR apartment rental price of $2,506/mo**, a Financial Planner Assistant would pay 38.52% of their monthly take-home salary towards rent.
** This rental cost was derived according to an online report at Apartment List
*** Average cost of living was acquired from Numbeo’s Cost of Living Index
Financial Consultant Job Description
As Study.com noted, financial consultant jobs typically involve working one-on-one with clients, including individual consumers or business leaders, with the goal of providing guidance on financial matters including investments, taxes, insurance, and more.
This role is highly similar to financial advisor and financial planner positions. In fact, financial consultants are often called financial advisors, and consultants may even become certified in financial planning so they may serve as a broker for financial products.
Financial consultants might work with individual consumers and assist them with key financial goals including retirement, funding higher education, creating a budget, and more. According to the U.S. Bureau of Labor Statistics, consultants also monitor the condition of their clients’ accounts and ongoing investments to help plan and accommodate for long-term financial goals.
Financial Consultant Salary
As with any professional position, the salary range for financial consultant jobs can vary, and salary estimates are based on years of experience, as well as the geographic region in which professionals work.
PayScale reported that the current national average salary is $68,000 annually in the United States. However, annual salaries for these professionals can range from $43,000 on the low end to $106,000 annually for the top 10% of earners.
The years of experience professionals have can greatly impact their average annual salaries. The entry-level financial consultant salary is typically $53,000, whereas those with five to nine years of experience make closer to $77,000 annually. According to PayScale, senior financial consultants with 20 years of experience or more earn an average pay of $83,000.
Pay can also differ according to the industries in which financial consultants work. The BLS found that consultants in the securities, commodities, and financial investments field earned an average salary of $95,540 as of May 2019. On the other hand, consultants working in credit intermediation earned $76,590 on average, and those in the insurance carrier industry took home an average pay of $71,280.
PayScale found that consultants working in Chicago and New York earned 15-18% more than the national average, whereas those in Denver were typically paid 15% lower than the average.
