National Avg. Salary

$118,050 More Salary Data →

Job Growth Rate

29.6% More Growth Data →

Recommended Degree

Bachelor's Programs & Degrees →

Attributes

  • Good Entry Level Salary
  • Growing Industry
  • Office Work Environment
  • Problem Solving

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Financial planners assist individuals with making investment decisions by calculating the impacts of purchases and investments on long-term financial goals. They may help individuals form a plan on how to save for retirement, how to pay for their children’s education, or how to pay off a loan more quickly.

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Checkmark Job Description

The following job responsibilities are common for individuals in financial planner roles:

  • Conduct initial meetings with clients to establish, determine, and record financial goals
  • Review individuals’ finances and look for opportunities to suggest alterations in spending, investing, and saving to meet established financial goals
  • Recommend different savings opportunities that offer the largest return on investment
  • Conduct seminars and market services to recruit new clients
  • Stay abreast of changes in investment opportunities in order to best advise clients

A Day in the Life

Financial planners assist individuals with meeting long-term financial goals by educating clients on the risks and rewards of certain purchase and investment decisions. They may assist clients with simple tasks like forming a budget, or they may help clients find ways to save enough money to cover a major life expense. For example, a financial planner may look at inflation, investment returns, and typical spending in order to determine how much a client needs to save each month in order to prepare for retirement.

Financial planners help individuals with many different types of financial planning. They may help individuals with young children form a plan for paying for their children’s college education when they reach adulthood. They may also help individuals determine what amount of money they can afford to finance for a mortgage when considering a new home purchase. They do this by meeting with clients, determining their long-term goals, reviewing their finances, and finding a wise investment and savings plan that will serve their needs when it’s time for the goal to come to fruition.

In addition to working with and counseling clients on financial matters, financial planners must work to recruit new clients. They may conduct public seminars to educate people on the importance of financial planning in order to recruit clients, or they may market their services through managing a website and creating educational financial planning content. They may also offer incentives to existing clients for referrals, allowing them to grow their networks by offering a discount to clients who refer others.

Typical Work Schedule

Most of a financial planner’s work is conducted during normal business hours, but they may also be required to work on evenings and/or weekends on occasion to conduct a seminar or meet with clients. Most financial planners work full-time schedules, and some may work overtime.

Projected Job Growth

It’s expected that there will be an extreme growth in demand for financial planners in the coming decade. This growth is expected to be driven primarily by longer life spans. As people are tending to live longer than ever, more thought and planning are required to ensure that individuals have adequate funds to cover expenses after retirement.

Typical Employers

Some financial planners are self-employed and offer financial planning advice to clients on a freelance basis. Others are employed by companies in the financial investment, banking and lending, and management consulting industries. They may work for banks, investment firms, credit lenders, or consulting companies.

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Wallet Financial Planner Salary Data

We've provided you the following to learn more about this career. The salary and growth data on this page comes from recently published Bureau of Labor Statistics data while the recommendations and editorial content are based on our research.

National Annual Salary

Low Range Low Range

$57,190

Average Average

$118,050

High Range High Range

---

National Hourly Wage

Low Range Low Range

$27/hr

Average Average

$57/hr

High Range High Range

---

How do Financial Planner salaries stack up to other jobs across the country? Based on the latest jobs data nationwide, Financial Planner's can make an average annual salary of $118,050, or $57 per hour. On the lower end, they can make $57,190 or $27 per hour, perhaps when just starting out or based on the state you live in.

Salary Rankings And Facts

  • #33 Nationally for All Careers

  • Above Average Salary Nationally

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Clipboard How To Become

The first step in becoming a financial planner is to earn a bachelor’s degree. There is no specific major required to find work as a financial planner, but degrees in finance, mathematics, economics, accounting, or business are beneficial for teaching students the skills and concepts needed to succeed as financial planners. With a bachelor’s degree, you should be able to find entry-level work as a financial planner for a bank or investment organization and begin earning the required licenses.

During training, you’ll serve as an apprentice for a year or more under an experienced financial advisor. This allows you to learn how to recruit clients, how to understand and document client goals, and how to advise clients properly. During this time, you’ll also work to earn the necessary licenses to work individually as a financial planner. The licenses you need will vary depending on what clients you serve and what products you sell. You may need to become registered by your state or by the Securities and Exchange Commission, depending on where in the country your clients are located.

After earning several years of experience as a financial planner, you may also want to pursue additional degrees and certifications to qualify for advancement opportunities. Many financial planners in senior or management positions hold master’s degrees in finance, economics, or business administration. Others pursue specialized certifications from organizations like the Certified Financial Planner Board of Standards. These certifications usually require a bachelor’s degree, several years of experience, and passing a written exam.


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Quick Summary

  • Recommended Min. Degree

    Bachelor's

Graduation Cap Programs and Degrees

Here are the most common degrees for becoming a Financial Planner. a Bachelor's is usually recommended and specifically a degree or coursework that prepares you for the particular field, see below.

Chart Highest Education Among Financial Planner

  • 5.4%   Doctorate
  • 22%   Masters
  • 52.7%   Bachelors
  • 4.7%   Associates
  • 11.5%   College
  • 3.4%   High School
  • 0.3%   Less than High School

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Chart Up Job Growth Projections and Forecast

2014 Total Jobs

249,400

2024 Est. Jobs

323,200

Job Growth Rate

29.6%

Est. New Jobs

73,800

How does Financial Planner job growth stack up to other jobs across the country? By 2024, there will be a change of 73,800 jobs for a total of 323,200 people employed in the career nationwide. This is a 29.6% change in growth over the next ten years, giving the career a growth rate nationwide of Above Average.

Growth Rankings And Facts

  • #14 Nationally for All Careers

  • Above Avg. Growth Nationally

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Employee What Companies Employ The Most Financial Planners

IndustryCurrent JobsNew Jobs Needed% Increase
Other financial investment activities 72,700 46,200 46%
Securities and commodity contracts intermediation and brokerage 56,400 14,700 15%
Self-employed workers 50,300 8,900 9%

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