How Much Should I Be Getting Paid?

When looking for new Financial Adviser jobs , a jobLowest average salary by region = £18,517 in Wales
hunter will ask themselves "what am I worth in theWhile supply and demand remains a significant factor
current employment climate?" In reality this can be ain the financial adviser jobs market, the equation
very difficult question to answer.becomes even more complicated when it comes to
Think for a moment about footballers. Is Cristianothose who salary can be equated to performance.
Ronaldo worth £217,000 per week? Is Lionel MessiWhen it comes to IFA jobs and financial adviser jobs,
worth £175,000 per week? Although this incomesalaries have always held some correlation to business
stratosphere defies comprehension for most of us, thegenerated in previous years.
simple answer must be ‘yes'. Why? Because that"Consider the IFA"
is what Real Madrid and Barcelona were prepared toMost employed IFAs will earn around a third of the
pay for their services.revenue they generate. This of course fluctuates from
A key equation in this complex problem is supply andbusiness to business as factors such as lead supply
demand. When demand for certain skills andand level of support become involved, however to
experience is high but the pool of candidates forkeep things simple, most firms work to a validation
Financial Adviser jobs with this experience and skill setlevel of 3 times salary with 33% bonus paid on
is low, one way an employer may compete for theirrevenues generated thereafter. With this in mind the
services is by making the remuneration package asbasic salary level is often less important than overall
attractive as possible. Equally, when the demand is lowearnings potential.
for Financial Adviser jobs (as many people have foundWhen deciding on an appropriate salary offer,
through 2009) and candidates are competing for aemployers will usually look at an adviser's production
small number of vacancies, they will often find thatfrom previous years to set a validation level that is
lowering their salary requirements makes them morerealistically attainable while also making sure the
attractive to employers.adviser is motivated by the prospect of additional
"Consider the paraplanner"bonus.
Traditionally paraplanner jobs have been difficult to fillFor example:
as many paraplanners use the role as a steppingWayne is an adviser who has generated fees at
stone before moving in to IFA jobs or financial adviseraround £120,000 for the previous 2 years. Based on
jobs rendering the candidate pool relatively small. As athe prospect that he will generate at least this level
result, salaries increased year on year and in 2007 theagain in a similar environment, we can safely assume
average income for a paraplanner with over 2 yearsthat if we give him a salary of £35,000 he should
experience in the role was approximately £28,000. Incomfortably achieve a £105,000 validation level while
2009, with business levels dropping and reduced costsremaining incentivised to earn further bonus.
high on many financial services firm's agendas, aAverage salary for IFA jobs across the UK =
number of paraplanner jobs were made redundant£37,142
and few IFA jobs or financial adviser jobs wereHighest average salary by region = £44,654 in
created. While a number of experienced paraplannersLondon
were left searching for employment in a market withLowest average salary by region = £31,302 in the
low demand, the average income reduced toNorth East
£25,383.Once again, many of our clients are reporting a
Average salary for paraplanner jobs across the UK =significant increase in business production in 2010 and
£25,383are confident that the trend will continue throughout the
Highest average salary by region = £31,048 inyear.
London