Entry level investment consultants are just starting their careers in the financial services industry. Their main responsibilities include conducting investment research, preparing reports, assisting senior consultants, and interacting with clients. Though the job requires long hours and intense workload, it offers newcomers abundant learning opportunities in the field of investment consulting. This article summarizes the typical salary range of entry level investment consultants based on job position, firm size, and geographic location.
Base salary ranges from $55k to $75k for entry level positions
According to Glassdoor data, the average base salary for entry level investment consultants in the U.S. is $65,138. However, there is a wide range depending on specific job titles:
– Investment analyst: $55,000 – $68,000
– Associate investment consultant: $60,000 – $75,000
– Investment consultant trainee: $65,000 – $75,000
The base salary is largely dependent on qualifications, credentials, and educational background. Those with CFA or other professional certifications tend to earn 10-15% higher at the entry level.
Bonus can add another $10k to $20k per year
In addition to base salary, many investment consulting firms offer performance bonuses to entry level employees. The bonus amount varies between $10,000 to $20,000 based on individual achievement and firm’s profitability. Top performers could earn up to 30% of base pay in bonus.
The bonus structure incentivizes young investment consultants to excel at client services and contribute to firm growth. Some firms also grant stock options and profit sharing as long-term incentives.
Salary differs by firm size and location
The compensation level also differs based on the size of consulting firms:
– Large national firms like Mercer and Aon pay $60k to $80k for new consultants
– Mid-size regional firms pay around $55k to $70k
– Small local firms compensate $50k to $65k
In terms of geographic differences, investment consultants in major metro areas like New York and San Francisco earn 10-15% more due to higher living costs. The median entry level pay in NYC is around $75k.
In summary, the total compensation of entry level investment consultants ranges from $55,000 to $85,000. As they gain more experience and professional qualifications, their earning potential can quickly rise to over $100k within a few years.