If you’re a CERTIFIED FINANCIAL PLANNER®, or wondering if this credential is right for you, you probably want to know how much you can expect to earn throughout your career. We’re providing a look at CFP® salary statistics, considering variables like career stage and benefits to help you plan your growth as a CFP® professional.
National Averages: CFP® Salary vs. Non-Credentialed Professional
The average CFP® salary varies depending on several factors, including:
- Experience
- Location
- Employer
- Position/role
- Bonuses, commission, and profit-sharing
That said, according to the CFP Board, a CERTIFIED FINANCIAL PLANNER® salary is about 10% higher than that of non-certified financial planners.[1]
Financial planning professionals who are new to the industry or in entry-level positions earn an average of $45,000-$60,000 per year.[2] However, once you become a CERTIFIED FINANCIAL PLANNER® and can step into more advanced positions, that average greatly increases, with the annual salary ranging between $66,000 and $325,000.[3]
This is a huge range, and it’s important to factor in that most CFP® professionals have more experience or may work in a more senior position than non-credentialed financial professionals. For more context, the CFP Board broke down the average CFP® salary as it relates to years of experience.
CFP® Salary: Recently Credentialed Professionals
For CERTIFIED FINANCIAL PLANNERS® who bring 11 to 20 years of experience to the table, the CFP Board reports a median CFP® salary of $225,000 per year.1
Career titles for mid-career CFP® professionals include (but aren’t limited to):
- Senior Advisor
- Financial Planner
- Investment Advisor
- Director (generally of a financial advisory or planning firm)
- Team Lead (generally of a financial advisor or planning firm)
CFP® Salary: Later Career Professionals
The CFP Board categorizes the top earning tier as those with 20 or more years of experience. According to their studies, this group of CERTIFIED FINANCIAL PLANNER® professionals earns a median $325,000 annually—with that number rising to $400,000 for those who manage at least 6 staff members.1
Job positions in this earning bracket of the CFP® salary may include:
- Senior Advisor
- Managing Director
- Partner4
Benefits Beyond the CFP® Salary
In addition to the high earning potential of a CFP® salary, most CERTIFIED FINANCIAL PLANNERS® also enjoy benefits that go beyond their annual income. The CFP Board reports that over 85% of CFP® professionals also have access to these employer-sponsored perks:
- Professional certification and tuition coverage
- Health insurance
- Dental insurance
- Vision insurance
- Professional association dues
- Disability insurance
- Life insurance
- Retirement plans
- Maternity and paternity leave
- PTO and paid holidays
Being a CERTIFIED FINANCIAL PLANNERTM means not only enjoying a higher earning potential, but also the added flexibility and employment benefits that come with your salary package.
CFP® Professional Job Satisfaction
You may be thinking: “The CFP® salary and benefits are great, but I want to do something that makes me happy.” And you should! Money isn’t everything and you deserve to do something that challenges you enough to inspire, but also leaves room for your important personal priorities.
Fortunately, 85% of CERTIFIED FINANCIAL PLANNERS® do report this level of personal fulfillment in their careers, with nearly 90% saying that they plan to stay at their current company. In fact, most CFP® professionals experience contentment and balance in their jobs, reporting good and excellent satisfaction in:
- Stability
- Work/life balance
- Career Advancement
- Compensation1
Become a CFP® Professional with BIF
Your path to enjoying a CFP® salary—and all the career benefits that come with it—begins by earning your certification.
The Boston Institute of Finance (BIF) has helped over 30,000 students meet their CFP® Education requirements, while our CFP® Exam prep course gets them ready to pass and earn their credential—with 100% online education programs and exam review courses that meet you with just the right level of on-point, CFP Board-approved content.
Whether you’re just beginning your CFP® journey, or already on your way to certification, rely on BIF to support you through the finish line. Connect with an education consultant today and we’ll tailor a plan for your path to CFP® success.
[2] https://smartasset.com/advisor-resources/financial-advisor-starting-salary
[3] https://www.miamiherald.com/careers-education/cfp-salaries/
