Financial Coach Salary

We collected data by defining financial coach to evaluate those jobs seeking people to fill financial coach roles who were charged to analyze clients’ current financial situations and goals, offer education and guidance, and provide support and accountability to help people work toward financial security and wellbeing.

Data included here are based on results from the top job websites in the nation, using search terms related to financial coach job opportunities. Salaries were higher in metropolitan areas – ZipRecruiter estimated a financial coach salary at $66,000, more than 35% above similar positions in rural areas.

Nationwide Average of Financial Coach Employment Ads

Who Hires Financial Consultant Employees?

Relevant job results using the term ‘financial coach’ from ZipRecruiter, Indeed, and LinkedIn are included in these data. Any organization selling financial instruments or products was excluded from the analysis.

The data revealed several common position types, with most centering around three general areas: personal finance for organizational personnel, personal finance for communities, and specific financial topics (state retirement plan, for example).

Type of Organizations That Hire Financial Coach Employees

Tips for Increasing a Financial Coach Income

We have identified several ways in which one may improve on a financial coach salary:

Experience

Gaining experience and writing case studies describing clients who reached their goals offers evidence of a coach’s value.

Training

Pursuing training to earn certification and credentials builds credibility and can command a higher salary.

Reporting

Reporting and measurement competencies can be leveraged to showcase your skills.

Technology

Understanding the latest coaching tools and technology helps you stay up-to-date.

Image

Developing a visible, professional online presence and image helps you stand out.

Commitment

Demonstrating a passion for helping others and commitment to excellent service gains referrals and can increase income.

Other Opportunities: Entrepreneurial Endeavors

After review of 137 financial coaching sites in the top 50 Google results for ‘financial coaching’ terms and keywords that describe what a financial coach is, 26 were relevant to this article. We found a wide variety of available coaching packages, priced between a few hundred dollars to annual services up to $5,900. Most common offerings were packages, offered by 21 of the 26 sites. Packages varied in structure, but all offered some personal contact with a coach and were time-driven (e.g. monthly, quarterly, annual).

We compared ‘hourly pricing’ options due to the significant variance between packages; hourly pricing provided a clear barometer. Twelve of the 26 financial coaching websites had hourly pricing options. Other methods of pricing included accomplishment of specific goals (i.e. improved credit score, budget makeover, specific decision-making support). One company was in potential violation of SEC regulations, as the site stated they “provide investment advice” (coaches who are not licensed may not provide investment advice).  Even graduates of financial coaching certification programs cannot give investment advice.

Financial Coach Salary Average Rates

What Financial Coaches Offered

The most common offering was contact with the personal finance coach; all 26 sites offered direct contact (usually by phone, but some with email options). Educational materials were the second most common, with 8 of 26 providing educational resources in any form. Five of the 26 sites provided personal financial plans to clients, custom-written based on their situations. Two of the 26 included re-planning and reporting (adjustments to initial personal plan, and separate reports with new data).

What is the Average Financial Coach Salary and How Much do they Expect to Earn?

Currently there’s a trend toward helping others improve their finances through financial life coaching. Those interested in the field will want to know how much financial coaching jobs pay. A financial coach salary varies significantly depending on the person’s role, capabilities, and efforts. Below are common ways in which financial life coaches earn income.

Salaried Positions. According to Glassdoor (www.glassdoor.com) – a job and recruiting website that curates a database containing millions of company reviews, CEO approval ratings, salary reports, interview reviews and questions – on February 24, 2017 the average financial coach salary was $43,333. The Glassdoor website states, “Estimates were based on 12 reports of salaries, bonuses, wages, and hourly pay, submitted anonymously to Glassdoor by Financial Coach employees.”

Entrepreneurial Endeavors. There is a wide income range for entrepreneurs (which may run from $0 to $100K+). More highly-compensated individuals typically have achieved expert level coaching skill sets, maintain primary focus on client outcomes, document their successes, have a clear model for building new relationships, and use well-developed communications strategies to effectively get the message out about their services.

Organizational Funding. Nonprofits, corporations, and other organizations may receive funding via grants or sponsorships. Per the Consumer Financial Protection Bureau report, as a nation we spend about $670 million per year on financial education.* Some of these funds may be set aside to support financial coaching services and community-based programs.

The financial coach job description can include individual consultation, leading family and/or organizational accountability programs, and/or conducting live or web-based instruction with larger groups. Determining your financial coach fees will need to take into account your level of training, experience, and types of activities you are asked to conduct.

*This figure represents data on financial education only; it does not include financial coaching, which is a relatively new phenomenon.