Financial Planner Salary

The career of a financial planner is considered to be a very lucrative one and has attracted many youngsters these days. The salary range of a financial planner largely depends on their educational qualifications and talent. However, before we know about the personal financial planner salary, let us know about the financial planner job description and how to become a financial advisor.

Job Description of a Financial Planner

Financial advisors give advice on investments in estate, bonds as well as stocks to their clients. They have a thorough knowledge of various instruments of investment and have the option of working as independent advisers or as an employee in a financial services firm. Both these jobs can be high paying and prestigious. Financial planners play a crucial role in the activities such as corporate take overs, mergers and acquisitions. Financial planners can have individual as well as corporate clients. The number of people approaching a financial planner for personal budgeting, managing expenses and taking suggestions regarding big ticket investments has shown a rising trend over the years. The need for right kind of investing and financial planning is rising and hence the demand for these professionals is believed to be very high. Before we move on to the financial planner salary, let us first get acquainted with the educational qualifications for becoming a financial planner.

To become a financial analyst, you need to choose subjects such as mathematics, statistics or economics in high school. Obtaining a bachelor's and master's degree in field of finance, accounting or management can help you launch a successful career as a financial planner. Then, you need to obtain certification by clearing exams of concerned authorities. Good communication skills, consistent efforts, hardworking nature and keen interest are the qualities which you need to make a mark as a financial planner. The financial planner salary details given below will help you know more about this career.

Salaries for Financial Planners

Financial planner salary, as said above, largely depends on the educational qualifications, number of years of experience, location of job and skills of the candidates. The maximum requirement of the financial analysts is in the major business centers of top business hubs of New York, Texas and California. Therefore, the financial planner salary is comparatively higher in such places. Financial planners, in the initial stages of their career can earn anything between $40,000 to $50,000 per year. In case of candidates graduating from top business schools, this figure can be much more. The financial planner salary can be in the broad range of $40,000 to $70,000 per year after two to five years of experience. Those with eight to fifteen years of experience can earn anything between $70,000 to $130,000 per year. Financial analysts working at top positions in well-known corporations can earn in excess of $140,000 per year. The financial planner salary also depends on the bonuses, perks and incentives received by the employees.

Financial planners who are independent consultants may have to go through some difficulties in finding clients earlier in their career. However, once they are an established name in the industry, they can earn much more than the salaried financial planners. Financial planners can also conduct lectures, seminar and workshops on financial management and earn more.

The content on financial planner salary, educational requirements and job details will help you plan a career in this field. Financial planners are considered to be talented individuals with great aptitude. So, are you ready for this challenging career option?