Financial planner salaries: Are you getting paid enough?

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If you’re a financial planner in Melbourne you could be earning up to $120k a year. According to the latest Robert Walters Salary Survey financial planners employed by banks earn around $70-120k in Melbourne, but even more in South Australia. Planners with more than six years experience can earn up to $130k in Adelaide.

Adelaide:

 

Role

Permanent salary per annum

Financial planner (0-2 years experience)

$75-85k

3-5 years experience

$90-100k

6+ years experience

$110-130k

Melbourne:

 

Role

Salary per annum

Contract rate p/h

Financial planner

$70-120k

$35-60

Paraplanner

$50-90k

$25-45

Superannuation administration

$45-70

$24-35

 

The South Australian banking sector has experienced a renewed focus on wealth management and investments, leading to an increased need for financial planners in the second half of last year. “Hiring levels are expected to steadily increase in the South Australian banking and financial services market in 2013, as the economy slowly stabilizes and business confidence returns,” said the report. “There will be a focus on hiring quality over quantity, with more organizations looking to recruit skilled professionals in the key areas of compliance and financial planning.”

The Melbourne banking sector is also experiencing demand for skilled candidates, with a particular focus on candidates from a superannuation and investment background.

“Regardless of the overall market conditions, we anticipate increased demand for professionals with specialist industry, technical, or system skills.”

The report noted that increased interest in superannuation products drove up recruitment levels in domestic banks in Sydney, and was seen as a main source of revenue. Interest in self-managed products grew, and as a result employers will be looking for niche SMSF skills sets.

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