There are some who say it’s impolite to talk about pay. At Spark Careers, we disagree. Salary expectations are one of the most important factors to consider when choosing a career path. They can make or break a prospective job. So if you’re considering a career in financial planning, here’s what you can expect at every stage of your journey.
As you enter the financial advisory industry, you’ll generally start as an associate. In this role, you’ll be tasked with research and support in the development of financial advice strategies for clients. You can generally expect $40-50,000 annually as a base salary for this entry-level position.
In a financial advisory office, a paraplanner prepares financial planning documents such as Statements of Advice and conducts financial modelling, according to Paraplanner Australia. In this role, you can expect a median base salary of $52,810 according to Payscale. With bonuses and other payments, however, you can generally expect a total salary of $60-80,000 per year.
In an Associate Adviser role, you will be more hands-on with advice, and may regularly communicate and liaise with clients and third parties. You can expect a salary similar to a paraplanner, with a base salary of $55,530 according to Payscale, and total pay of $60-80,000 per year from our experience.
Adviser & Senior Adviser
When you gain the necessary experience and qualifications to become a financial adviser, you can generally expect a salary of $80-110,000 per year. As you move up the proverbial ladder and become a senior adviser, this figure can increase even more. More than pay alone, advisers benefit from a flexible work environment and control over their schedule. Want to find out more about the other benefits of being a financial adviser? Visit the Spark Careers guide to Financial Planning.
Now that you know what to expect, find out more about the Spark Careers training and job placement program, the best way to start a career in financial planning. If you’re ready to jump in, apply now.