Factors Determining Financial Planner Starting Salary Or Income

People who want to start a career in financial planning are often intrigued by many questions. One of the most common questions is how much money does a financial planner make in the beginning of a career. If you are also confused about the financial planner starting salary facts, then here is some information to help you out.

To understand how much do financial planners earn, it is very important for you to clear your doubts. Like any other job your starting salary is dependent on various employment factors. How much money does a financial planner make largely depends upon the kind of experience earned and the kind of services performed.

If you plan to be a self employed financial planner, you can charge a flat fee. This fee is commission or certain percentage of the total value of client's investment. Sometimes you may charge your fee on hourly basis as well. Therefore your starting salary will depend upon your clients in this case.

If you plan to sell financial products as a financial planner, you will be paid on a commission basis. This again makes your salary or earning a little flexible.

In case you will be employed by a company, you will receive a supplementary salary. The salary however depends a lot on the company that employs you. For example, if it is a bigger company, it will be able to provide you with a good salary however a small firm may not always be able to pay you as good as the larger firm.

Your starting salary will depend upon various factors. They include: the location of your employment, your education and certification and your employer. For instance- if you have a financial degree and a CFP certification, working with a big New York firm you can earn an annual starting salary of $47,000. With a smaller firm it goes down to an average starting salary of $35,000. You can also get a starting salary of $60,000 or higher, if you look around for a job in other parts of the country.

If you'll ask me what is the salary of a financial planner at the start, I'll safely say that it should be somewhere from $35,000 to $60,000.

If you would like to earn more at the start of your career, I'll suggest you to go for a certified financial planner certification. It not only increases your credibility, but will also help you earn more. The certified financial planner salaries are way more than what you will earn without the certification.

So the fact is that your financial planner starting salary or income will largely depend upon your qualification as well as the kind of job would be able to secure for the self.

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