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Wages for financial specialists

January 25, 2021

January is the month of resolutions, hope, and goals for the New Year. But did you know that January is also Financial Wellness Month? For this Financial Wellness Month, let's look at wages for financial specialists by their work level. The average hourly wage in 2019 was $48.43 for level 9 personal financial advisors, who advise clients with financial plans. For level 12 personal financial advisors, the average hourly wage in 2019 was $86.37.

Average hourly wages for financial specialists by work level, 2019
Occupation Level 9 Level 12

Accountants and auditors

$36.87 $69.98

Personal financial advisors

48.43 86.37

Insurance underwriters

36.69 64.60

Financial examiners

35.61 69.08

Loan officers

41.01 71.33

Work levels provide insight into the range of duties and responsibilities for an occupation and are determined by assessing four factors: knowledge, job controls and complexity, contacts (nature and purpose), and the physical environment. There are up to 15 work levels, and they vary by occupational groups.

The average hourly wage in 2019 for level 9 accountants and auditors was $36.87; it was $69.98 for level 12 accountants and auditors.

These data are from the Modeled Wage Estimates derived from the National Compensation Survey and the Occupational Employment Statistics survey. Modeled Wage Estimates are available for detailed occupations, geographic areas, and job characteristics, including full- and part-time status, work levels, and bargaining status. Relative standard errors also are available to allow users to assess the reliability of estimates.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Wages for financial specialists at https://www.bls.gov/opub/ted/2021/wages-for-financial-specialists.htm (visited November 27, 2021).

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