What Is the Average Financial Planning Manager Salary and How to Increase It?

Finances play an important role in our lives, as individuals and as businesses. One of the key players in managing finances is the financial planning manager. They are responsible for creating an effective financial plan for their organization to ensure its growth and success. But what is the average financial planning manager salary, and how can aspiring managers increase their earning potential? Let’s find out.

What Is a Financial Planning Manager?

A financial planning manager is responsible for developing and implementing financial plans for their organization. They are responsible for identifying opportunities that can help improve the financial health of the company and also provide support to the management team with financial analysis and decision-making.

Their job roles are all-encompassing and can include creating forecasts and budgets, managing risk management, preparing financial statements, and contributing towards the development and implementation of new financial policies.

What Is the Average Salary of a Financial Planning Manager?

According to data from Salary.com, the average financial planning manager salary in the United States is around $120,000 per year. The salary range, however, can vary depending on factors such as experience level, location, and the size of the organization.

Entry-level financial planning managers can expect to earn around $80,000 per year, while those with more experience and expertise can earn as much as $170,000 per year.

Generally, larger organizations will offer higher salaries as well as additional perks such as bonuses, company stock, and benefits such as healthcare and retirement plans.

How Can You Increase Your Financial Planning Manager Salary?

1. Education – Obtaining advanced degrees such as a Master’s in Business Administration (MBA) can help increase your earning potential.

2. Certifications – Obtaining certifications such as the Certified Financial Planner (CFP) can help showcase your expertise and increase your salary.

3. Experience – As with most professions, gaining more experience will gradually increase your salary.

4. Networking – Building a strong network of professionals in the industry can help increase your visibility and eventually lead to better job opportunities and salary increases.

5. Performance – Consistently meeting or exceeding your targets, contributing to cost-saving initiatives, and delivering high-quality work can all result in salary increases and promotions.

Conclusion

A career as a financial planning manager can be rewarding both financially and personally. The average financial planning manager salary is around $120,000 per year, but with the right approach, aspiring managers can increase their earning potential. By investing in education, obtaining certifications, gaining more experience, networking, and performing well, aspiring financial planning managers can achieve their desired salary and career growth.