Salary Range for a Financial Adviser
- According to PayScale, the national average salary range for a financial adviser in the United States is $38,798 to $82,526 as of December 2010, a range which includes bonuses, profit sharing and any commissions taken.
- As a financial adviser improves his skills with years of experience, his salary range will also increase. An adviser with less than one year of experience earns between $30,080 and $46,716, while one who has over five years of experience earns more at a range of $41,003 to $77,733. A financial adviser with over 20 years in the field can earn up to $143,448.
- Because all organizations and companies deal with money in some capacity, financial advisers are in high demand with many types of employers. A financial adviser employed by a company can expect a range of $33,901 to $61,952, while one at a nonprofit organization sees between $36,438 and $65,000. State and local governments and the federal government may pay financial advisers up to $61,000, while hospitals pay much less at a range of $35,493 to $45,000. Colleges and universities have an even lower range of $32,761 to $39,555, while schools and school districts have a higher range at $34,706 to $46,039, according to PayScale's 2010 data.
- The area in which a financial adviser is employed will also effect her salary range, as companies must take cost of living and demand into consideration. According to PayScale, California and Pennsylvania were the two highest paying states in the U.S. for financial advisers as of December 2010, with ranges reaching over $72,000. New York was a distant second with a range of $35,796 to $65,522, and Illinois was third with a range of $30,806 to $63,871.
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