Financial Counselor Salary Range
To generate these data, we define what a financial counselors role is as any job seeking a candidate seeking to determining a client’s financial goals and situation; then offering education, support, accountability, and guidance to help the client reach financial health and a more secure future.
The data provided here are based on results from the top job sites in the nation, applying search terms related to financial counseling job postings. We observed that the financial counselor salary range is higher in metropolitan regions. For example, ZipRecruiter calculates the average financial counselor salary at $66,000, which is over 35% higher than in rural locations.
Who Hires Financial Counselors?
We gathered data from ZipRecruiter, Indeed, and LinkedIn job postings using the keyword ‘financial counselor.’ We excluded results from financial service or other organizations that were selling financial instruments.
The commonly-posted types of positions centered generally around three fields: personal finance counseling for internal personnel, personal finance counseling at the community level, and counseling on specific financial topics (i.e. state retirement plan information).
Ways to Increase Financial Counseling Income
An accredited financial counselor salary can be increased in several ways. Consider pursuing the following paths to grow your income:
Experience & Case Studies
Develop a portfolio highlighting client successes.
Training, Certification & Credentials
Gain credibility and professional status.
Reporting & Measurement Competencies
Leverage experience to demonstrate skills.
Understanding Coaching Tools & Technology
Stay current on the latest advances.
Online Presence & Professional Image
Helps you stand out from the crowd.
Passion & Commitment to Excellent Service
Shows that you care and can deliver.
Other Opportunities: Entrepreneurial Endeavors
After evaluating 137 financial counselor sites from the top 50 Google search results using ‘financial coaching’ and ‘financial counseling’ keywords, 26 sites were included in these data. A broad range of coaching packages were available, priced between several hundred dollars and annual rates up to $5,900. The most common were packages – offered by 21 of the 26. Packages varied in scope, but all were time-based (by month, quarter, or year) and involved direct contact. We compared the packages with hourly pricing options (12 of 26) as a barometer to evaluate between packages, which differed significantly.
Some packages based pricing on other milestones, such as accomplishment of specific goals (specific decision-making support, improved credit scores, or budget overhaul, for example). We also found one site that might get in trouble with the Security & Exchange Commission (SEC) for specifically stating they “provide investment advice.” Counselors who are not licensed are not allowed to provide investment advice. For those seeking to become a financial counselor should be aware of the difference between financial education, financial guidence and financial advice.
What Financial Counselors Offer
There was a range of services typically offered by the websites reviewed of financial counselors and related money coaches. Most prevalent was personal contact with the counselor (by phone, or sometimes email) – all 26 sites offered contact. Personal financial plans were offered by 5 of the 26 (custom-designed based on the client’s individual situation). Re-planning and reporting, including tweaks to the initial personal plan and separate reports with new data, were provided by 2 of the 26; and educational resources in any form (courses, follow-up training, etc.) were offered by 8 of 26.