Financial Consultant Salary

As businesses are searching for ways to deal with financial problems, there is a requirement for the services of professionals who can assist companies in financial planning. One of the most prominent business career opportunities is that of a financial consultant who is also known as a financial advisor. When it comes to advising individuals, these professionals help people carry out debt management, investment planning, and long-term saving. Organizations generally require the services of a financial advisor in order to carry out all corporate financial aspects of the employees and the business.

Financial Consultant Salary Range

Years of Experience
The years of experience matter a lot to the salary range for a job as a financial consultant. Freshers or those with less than a year in financial consulting can expect to be paid anywhere between $31,000 and $48,000. The per annum remuneration increases from $39,000 to $61,000 for financial consultants working for one to four years in the field. You can earn about $45,000 to $76,500 if you have an experience of a good five to nine years. An experience of 10 to 19 years can make you eligible for earnings between $49,000 to $98,500 approximately. With more experience, you can even demand up to $121,500 from the employer.

State of Employment
The salary range also varies significantly according to state. New York is the highest paying state for financial consultants with a salary scale of $58,000 to $114,000. Texas follows second with a pay range of $47,000 and $97,000. In California, financial advisors are likely to get anywhere within the range of $48,000 to $85,000 annually. States like Illinois and North Carolina have a pay range of around $47,500 to $75,500 and $43,000 to $64,000 respectively. The lowest paying state is considered to be New Jersey with a salary potential from $31,000 to $50,000 per year. Pennsylvania too has low pay prospects, with the per annum income being under $29,000 and $55,000.

City of Employment
The city you work in is also a notable factor for deciding the salary range. The highest paid city is San Francisco which has a range of $50,000 extending up to $87,000 annually. New York City pays well in the range of $58,000 and $82,500 per annum. In cities like Washington and Chicago, these financial management professionals may receive a pay anywhere from $49,000 to $78,000. It is considered that in Charlotte and Denver, the pay for these finance experts falls between $44,000 and $72,000 per year. Lastly, the lowest paying city was reported to be Pittsburgh, with a pay from just about $25,000 to $33,000.

Other Considerations
Apart from the basic criteria for finding out the financial advisor salary range, there are many other determinants. Certification plays a very crucial role in salary negotiations for the job. If you are a Chartered Financial Analyst (CFA) with considerable experience, you can get around $123,000 or even more. Those holding the Certified Public Accountant (CPA) certification can earn from $55,000 to $80,000 on an annual basis. Certified Financial Planners (CFPs) have a salary potential to earn anywhere from $49,000 to $96,000 yearly. Self-employed individuals are believed to earn a pay range up to a whopping $196,500 per annum.

These are the primary determinants that have an impact the financial consultant salary range. The actual pay depends on the company, employer type, industry, commission and other additional benefits. If you are wondering how to become a financial advisor; education and certification in fields of accounting, financial management, economics, and business is usually needed.