College Money

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When you think of a financial planner, you think of someone who makes their living helping others learn how to spend their money. You may be now thinking, how much does the person who helps others with their money, actually make? The truth is that a financial planner’s salary varies greatly depending on just how much schooling they may have.

According to the U.S. Department of Labor, most financial planners will at least have their Bachelor of Arts in Finance or Accounting, and will earn about $25,000 in their first couple years as a financial planner. After about ten years of work as a financial planner, their salary will reach about $100,000. Of course, the financial planners who begin writing books and appearing on television can even bring in yearly incomes in excess of $1,000,000 per year.

On average though, a financial planner will bring in between $25,000 to $40,000 for much of their early career. Once they reach the mid-level of their career, they can expect to earn between $47,000 and $76,000. Those later in their careers, and some with only a decade of experience, will pull in six figures and give seminars and more to pad out their income. Overall, the average income for all financial planners was $66,000 per year. About 10 percent earn $40,000 and less, and 10 percent earn $130,000 or more. That means that 80 percent of all financial planners earn between $41,000 and $129,000 each year.

It also depends on whether you work for a company, or work for yourself. If you work for yourself as a personal financial planner, the average salary is about $44,000 but can be as high as $114,000. About 10 percent earn $32,000 and lower, while 10 percent earn $145,000 or more a year. This means that 80 percent of all personal financial planners who work for themselves make between $33,000 and $144,000 per year.

So, if you have the time and money to get some schooling, being a financial planner can be a career that is satisfying because you help people, and financially rewarding because you can make a decent income.

How Much Money Does A Financial Planner Make?5.051