Thinking about becoming a CERTIFIED FINANCIAL PLANNER™ (CFP®)? We totally think you should (note: we are slightly biased). You get to help people achieve their financial goals, which is pretty great, plus, you can increase your earning potential. But how much can you expect to earn with a CFP® professionals’ salary?
The short answer? CFP® salaries range between $65,000 and $325,0001
That's a huge range, but we're going to break it all down for you. Check out how the average CFP® salary compares to non-certified financial planners, how compensation grows with experience, and why the benefits of being a CFP® professional go far beyond what you see on a paycheck.
The Average CFP® Salary vs Non-Credentialed Professionals
Before we dig into the numbers, the biggest takeaway is this: CFP® professionals earn about 10% more than their non-credentialed counterparts.
Why the difference?
Having your CFP® marks shows you know what you're doing - you've proven you have the education, experience, and ethical commitment to act in your clients' best interest and secure excellent outcomes. You'll have the gold standard in financial planning, which translates to greater trust, more responsibility, and yes, higher pay.
According to CFP Board’s 2024 Compensation Study2, financial planners earn a median annual total compensation of $192,000, with CFP® professionals outpacing that median by about 10% after controlling for experience, education, company size, and other factors.
CFP® Salary by Level of Experience
The biggest factor that affects CFP® salary is experience, so let's look at the numbers across three key career stages.
Newly Credentialed CFP® Professionals
CFP® professionals with fewer than five years of experience earn a median salary of $103,000 annually, according to CFP Board data. This is nothing to sneeze at, especially since these are often entry-level or support roles. Meanwhile, non-certified financial planners’ starting salaries typically range from $45,000–$60,000.
Typical Roles:
- Financial Analyst
- Paraplanner
- Associate Advisor
Mid-Career CFP® Professionals
After five to ten years of experience, you'll see a pretty big jump in CFP® salary averages. Mid-career CFP® professionals report a median annual compensation of $150,000–$225,000. This number only goes up even higher for financial planners who move into a leadership role or management within the organization.
Typical Roles:
- Investment Advisor
- Financial Planner
- Team Lead of Advisory Teams
Later-Career CFP® Professionals
After a few decades of putting in the work, the earning potential really skyrockets. According to CFP Board, the median CFP® salary for later-career professionals (those with 20+ years of experience) is $325,000. And if they manage six or more people, that median annual salary jumps up to $400,000.
Typical Roles:
- Managing Director
- Senior Advisor
- Partner or Principal
Beyond the CFP® Salary: A Look at Benefits
There's more to life than money, right?
Right???
Seriously, the well-above-average salary for CFP® professionals is only a part of the perks of having your marks. You can also look forward to a pretty solid compensation package.
Standard Benefits for CFP® Professionals
Returning to the CFP Board study, let's look at the most common benefits CFP:
- Health, Dental, and Vision Insurance: Over 85% of companies offer these benefits.
- Retirement Plans: Access to 401(k)s and similar plans is nearly universal (98%).
- Professional Development: More than 90% of employed CFP® professionals receive support for certification dues, memberships, and continuing education.
- Paid Time Off: With a median of 21 PTO days and 10 paid holidays annually, CFP® professionals enjoy a healthy work-life balance.
Why CFP® Professionals Say It’s About More Than Money
Sure, we’ve established that CFP® professionals can earn a fantastic salary, but how much do they actually enjoy their work? Survey says...a lot.
According to CFP Board (we keep going back to them, but they are the governing body and have all sorts of awesome data) 85% of CFP® professionals describe their career as highly fulfilling, and 89% say they plan to stay with their current company for the foreseeable future. Why? Here are a few reasons financial planners consistently report high job satisfaction:
- It feels really good to help people, and you get to help a client put their kids through college or enjoy a stress-free retirement. CFP® professionals directly impact their clients' lives in a positive way.
- Want to work in a global firm or a boutique office or do you want to start your own business? CERTIFIED FINANCIAL PLANNERS® are in demand, and you'll have options.
- You have to use a lot of critical thinking and creativity to build successful financial plans, and every client has different backgrounds, needs, and goals. So, it keeps you on your toes.
How to Get the Certification to Earn the CFP® Salary
So, you're picking up what we're laying down? Good! The first step toward earning that sweet, sweet CFP® salary is getting certified.
Here’s what the CFP® certification requirements and process looks like:
- Have your bachelor's degree and complete the CFP® Education coursework requirement
- Log relevant experience (4,000-6,000 hours)
- Pass the CFP® Exam (sounds scary, kind of is)
- Sign the Ethics Declaration and pass a background check
Get started with BIF
Over 32,000 students have earned their CFP® certification with BIF’s CFP Board-registered coursework and The BIF Review CFP® Exam prep. With a streamlined, affordable education program and an 8-week exam prep course, we keep you laser focused and on track to earn your certification in less than a year!
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