Money Magazine has ranked hundreds of careers and have decided that the job of Financial Advisor ranks third. That’s not too shabby. Here are the stats provided by the magazine.
The average salary is $122,500, which is a little less than three times what my base salary would have been this year had I not been taken the new job. Financial Advisors get strong marks in flxibility, creativity, two things important to me. Ease of entry ranks well, but the level of stress is not perfect.
Banking Deal: Earn 1.00% APY on an FDIC-insured savings account at Barclays.
My career choices are never complete. I started as a music teacher, ended up in arts-related non-profit, got a temp-to-perm job at a large financial corporation, taught some more, returned to accounting in that same corporation. At one point, I was considering law school, so much that I took the LSAT. I didn’t score as well as Reese Witherspoon in Legally Blonde, but I did score well. In the mean time, I’m finishing up a Master of Business Administration degree, mostly paid for by the corporation.
In effect, I’ve avoided making any real choices about my career path, mostly because I have so many interests. (Did I mention I do web development in my “spare” time? This fall I’ll likely be teaching music on weekends and some evenings, as well.) At times, I have considered becoming a Financial Advisor. I’m great with people and I am thirsty for knowledge. I’ve informally coached friends on their money management. I could probably enjoy doing that full time after training and certification.
I’m not going to make any decisions based on a survey from a magazine, but this career is something I’ve thought about occasionally over the past few years. There are 6,100 job openings each year according to Money Magazine, and that probably doesn’t include new private practice businesses.
Now, for all your Financial Advisors out there: What do you hate about your job? I need to hear all the negatives.
Updated October 21, 2015 and originally published April 12, 2006.