The median total compensation for all financial planners was $192,000 in 2023, and certified financial planners earned 10% more than average, according to a new study by the Certified Financial Planner Board of Standards.
The researchers controlled for nine other factors, including job experience, education, type of company and geographic location.
Eighty-eight percent of study participants rated the stability of their job as good or excellent, while 82% said the same about work-life balance, as did 79% about career advancement and 74% about compensation.
Half of CFP professionals in the study said they had a very high sense of personal fulfillment in their careers, and another 35% said they had a somewhat high sense of personal fulfillment.
Nine in 10 CFP professionals said they plan to stay with their current firm for the next two years. Of those who are considering leaving their firm, 67% said they intend to remain in the profession.
"It's no surprise that CFP professionals are extremely happy in their careers," Kevin Keller, the CFP Board CEO, said in a statement. "The findings in the 2024 Compensation Study show that a career in financial planning is quite possibly the best job ever."
