Planners in the money
Financial planners are sitting pretty. Not only are they in great demand, but many are earning in excess of $100,000 a year and most can expect good increases in the coming year.
Financial planners are sitting pretty. Not only are they in great demand, but many are earning in excess of $100,000 a year and most can expect good increases in the coming year.
As the above table from Hays Personnel Services' database shows, the average pay for top tier financial planners in major Australian cities is $80,000 a year.
However, Hays recruitment adviser for financial planning, John Aldridge, says: "That's just the salary component. On top of this would come the performance based rewards which can push many over the $100,000 mark. Not many jobs out there have the same unlimited earnings potential."
A recent Hays salary survey found that just over two thirds of companies intend boosting the salaries of their financial planners by between 3 and 6 per cent, and a further 13 per cent said they would increase pay by 6 to10 per cent at the next salary review.
Indeed, when it came to expected pay rises, financial planners did better than any of the other professional services in the Hays survey.
Aldridge says the survey found that when looking at what raise to give, the most important factor is the quality of the financial planners' work, followed by their length of service and the quantity of work produced.
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