One of the most well-paid professionals today are financial planners. Aside from the very attractive salary, the demand for financial planners is expected to increase in the next ten years. This is mainly fueled by the retirement of baby boomers who want to make sure that they make wise decisions in investing their hard earned funds. As the demand for financial planners increase, you can expect that their salaries will too. In 2006, financial planners were reported to earn an average of $66,000. This figure will vary depending on factors like where you are located (an office in a rural area would pay considerably less than a top firm in New York), tenure, or whether you work with companies or individuals. Financial analysts – those who work with companies – make $50,000 to $90,000 on average. The bottom 10% earns $40,000 annually or less while the top 10% earns about $130,000 or more. Financial advisors – those who primarily work with individuals – make $44,000 to $114,000 annually on average. The top 10% earns $145,000 per year while the bottom tenth earns about $32,000 or less. Financial advisors earn commissions aside from the salaries while financial analysts get bonuses. This career, being attractive to talented individuals is also very competitive. You will have to have at least a college degree to qualify and having an MBA is a definite advantage. You’ll also spend a considerable amount of money if you want to earn your degree from universities. However, you can think of this as an investment as you’ll be able to pay student loans easily once you get hired as a financial planner.
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