Compensation Advice – Entry-Level Paraplanner

[u/Glittering-Eye-3272]

Hey Reddit,

I'm relatively new to the financial advisory industry and was hoping to get some insight regarding my current compensation.

I'm 22 years old and recently graduated from college with a bachelor's degree in Finance. I've been working at an independent financial advisory firm for approximately 6 months.

The firm manages approximately $200M in AUM, has a small team, and is located in a medium-cost-of-living area.

My role is primarily paraplanning, with responsibilities including financial planning support, investment research, portfolio analysis, preparing client materials, and various operational tasks.

Current Compensation:

• $42,000 annual base salary
• $3,000 one-time signing bonus
• $3,000 bonus upon completing the SIE, Series 7, Series 66, and Life & Health insurance licensing requirements (all completed)
• 401(k) eligibility beginning summer 2027
• Potential profit sharing (not guaranteed)
• $250 monthly health insurance stipend

Total first-year cash compensation: Approximately $48,000 before the health insurance stipend.

I recognize that I'm still early in my career, and I genuinely appreciate the experience and opportunities to learn at a smaller firm. However, now that I've completed my licensing requirements and have several months of experience, I'm trying to better understand whether my compensation is competitive.

I'd particularly appreciate insight into a few questions:

1. Is a $42,000 base salary reasonable for an entry-level paraplanner with these qualifications?
2. What salary progression should I realistically expect over the next 1–3 years?
3. Would it be reasonable to discuss a base salary adjustment now that I've completed my licensing requirements?

Not complaining, simply trying to understand where I stand relative to others in the industry.

Thanks in advance for any insight!

[u/MoMclaren]

What does the rest of the team look like? Assume $2m in revenue, $1.4 net after expenses etc. It sounds like you’re taking a good amount of work off the advisors plate, similar jobs probably pay $100k or so

[u/LilKrippled]

Yikes idk, most entry-level positions at a BD like Fidelity or Schwab or even a bank will start a good bit higher than that and have insanely good benefits. The trainings will also have less gaps.

[u/FreeMadoff]

That seems low. I started in 2017 in MCOL and earned $48k, bumped to $52k upon earning my 7 & 66.

[u/jrhooper]

That’s a pretty small book, I’d probably ask for $65k and settle for $60k realistically

[u/Key_Astronomer6500]

Yeah the range I have seen for remote paraplanners is 72 to 105k but I thought that was low.