Paraplanners more academic than planners

paraplanners/financial-planners/planning/Money-Management-Salary-Survey/

21 April 2016
| By Staff |
image
image image
expand image

Almost one in four paraplanners hold a Masters, while rate for planners is half that, the Money Management Salary Survey reveals.

Data from the annual survey found that 40 per cent of planners had not successfully passed through the doors of a university, while a similar proportion of paraplanners held a Post Graduate or Masters qualification.

Just one in three para planners reported that their highest academic achievement was securing an Advanced Diploma in Financial Planning (Advanced DFP), however, the survey showed that three per cent of paraplanners said completing high school was the pinnacle of their academic careers, compared with just one per cent of planners.

Findings from the research also revealed that paraplanners were more likely to have studied a finance, accounting or economics degree (31 per cent) than planners (25 per cent).

Despite paraplanners lofty academic achievements, just six per cent of respondents said they earned more than $90,000 a year, while less than 25 per cent of planners reported earning less than that.

When it came to saying how much they believed they should be paid for doing their current role, 72 per cent of paraplanners said they deserved to be paid less than $90,000, however there was a significant shift in the number who felt that salaries below $70,000 were fair — just 13 per cent of paraplanners believed that they were worth less than that, compared to 58 per cent who reported their salary was under that threshold.

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

The succession dilemma is more than just a matter of commitments.This isn’t simply about younger vs. older advisers. It’...

1 week 3 days ago

Significant ethical issues there. If a relationship is in the process of breaking down then both parties are likely to b...

1 month ago

It's not licensees not putting them on, it's small businesses (that are licensed) that cannot afford to put them on. The...

1 month 1 week ago

AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies. ...

3 days 12 hours ago

ASIC has released the results of the latest adviser exam, with August’s pass mark improving on the sitting from a year ago. ...

1 week 6 days ago

The inquiry into the collapse of Dixon Advisory and broader wealth management companies by the Senate economics references committee will not be re-adopted. ...

2 weeks 6 days ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND
Powered by MOMENTUM MEDIA
moneymanagement logo