Financial Advisor Salary Range

Financial advisor salary is on the rise due to the rising importance of their position. People are too busy to sit, study and plan for their investments. That is where personal financial advisers come in. They help people in making investment decisions and manage the investments. Financial advisors who advise big businesses in making investment decisions are called financial analysts. Those who manage the investments of high net worth individuals are called wealth managers. This article will give you information about current financial advisor salary range and will talk about the mode of operation of a financial advisor.

The financial advisor salary range depends on what is the size of his/her client base, the investments made and whether he works for a firm or he works independently. Close to one third of financial advisors work independently. There are various names given to these advisers depending on the mode of their operation. There are three main profiles of financial advisers:

• Personal Financial Advisor: Personal financial advisers specialize in retirement planning as well as investment in securities for individuals. Most of them sell life insurance and other insurance covers too. Their income comes from commissions based on the earnings they make for their clients. If they work for a firm, they get a fixed salary plus commissions, depending upon the amount of profits they make for their clients.
• Financial Analyst: Financial analysts are investment advisors for big companies who are consulted regarding investment in various securities. They must study company performance in various sectors and help in making high volume investments for companies.
• Wealth Managers: These are people who work for wealthy individuals who operate as venture capitalists. Their main job is to do the background study of any new investments, these people plan to make.

Most financial advisors have an MBA degree in finance and come from a commerce background. They need to be good at handling people and convincing people. They have to be experts in number crunching and their knowledge of various sectors of industry, investments and tax laws needs to be in depth.

Personal Financial Advisor Salary Range Based On Experience

Financial advisor is currently one of the top 10 high paying careers in USA. Here's a table, that will give you an idea about average personal financial advisor salary range, based on his experience in the field. These numbers are based on market data collected by various employment research firms in USA.

Work Experience	Median Salary Range
0 - 1 Years	USD 30,000 to 44,000
1 - 4 Years	USD 30,000 to 52,000
5 - 9 Years	USD 43,000 to 90,000
10 - 19 Years	USD 48,000 to 100,000
20 Years and Above	USD 56,000 to 152,000

You can get an idea about the average financial advisor starting salary from the figures above. This business works on creating and maintaining new contacts. The financial advisor trainee salary starts around USD 30,000 or less. As one gains experience and a big client base, personal financial advisor salary can reach up to USD 100,000 to 200,000.

Associate Financial Advisor Salary Range Based on Experience

Associate financial advisors work with investment firms and generally deal in all kinds of securities. Here are some numbers denoting associate financial advisor salary range, based on years of experience, in USA.

Work Experience	Median Salary Range
0 - 1 Years	USD 30,000 to 42,000
1 - 4 Years	USD 35,000 to 49,000
5 - 9 Years	USD 36,000 to 58,000
10 -19 Years	USD 37,000 to 60,000
20 Years and Above	USD 44,000 to 69,000

In a period of recession, being a financial advisor has an added responsibility and risk. After all, people risk losing their life's earnings if your decisions go awry. So with the ever rising financial advisor salary, comes more responsibility. Hope this article has given you a clear idea about the expected financial advisor salary range.