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How much can I earn working in financial advice?

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Are you looking for your first professional role after graduating university? Or perhaps you’re someone who is thinking about a career change? Financial advisory is becoming an increasingly popular career choice for people who are looking for the chance to earn a high income. Of course, there’s no denying that managing other people’s money is a challenging line of work, but the good news is that as the pressure and responsibility increases, so does the amount of money you can earn.

 

If you’re thinking about entering into the financial world, the best way to start your career is by obtaining the relevant qualifications. Professional training courses, such as those provided by Simply Academy, offer the chance for you to gain a recognised qualification that can help to kick start your career in finance. And, the better qualified you are, the more likely you are to be recruited by a reputable firm and earn a lucrative salary.

 

But just how much can a financial advisor earn? Take a look at this simple guide to find out more.

 

How much can I earn?

Starting out as a trainee financial advisor, you can be earning a salary of around £22,000. Of course, the salary will depend on the company that you are working for and the type of work that you are doing. The amount you earn will fluctuate depending on whether you are working in the public, personal or business sector. As you complete your training and gain more experience, you can expect your salary to rise. A fully qualified financial advisor can be earning a minimum salary of around £30,000.

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On top of this, the financial service industry tends to work on a system of bonuses, meaning that your actual income can be greatly increased. However, this is also reliant on the employer and which area of the financial service industry that you work in.


Should I work independently?

One question you may want to ask yourself once you are a fully qualified financial advisor is whether you want to work independently. Rather than working as part of a company, working alone gives you the potential to earn higher figures, but also brings a lot more responsibility. Before making this decision, you need to think about whether or not you have the time, or indeed the financial leeway, to administer your own business and earnings.


Other considerations

Of course, with a high salary comes a fair share of responsibility. If you are considering becoming a financial advisor, there are of course, other factors you will need to consider other than earnings. Whether you are dealing with private or corporate investors, if you want to succeed in your role, you will need to have high levels of communication and integrity. You will also need to be extremely organised and have exceptional numerical and analytical competencies to help people achieve their financial objectives.

This article is provided by http://www.macnewbie.co.uk