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Financial Planning & Services Major

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Financial Planning & Services

556 Bachelor's Degrees Annually
202 Master's Degrees Annually
#51 in Popularity
$98,770 Median Salary

Types of Degrees Financial Planning & Services Majors Are Getting

The following table lists how many financial planning and services graduations there were in 2019-2020 for each degree level.

Education Level Number of Grads
Basic Certificate 2,497
Bachelor’s Degree 552
Graduate Certificate 272
Master’s Degree 187
Doctor’s Degree 21
Associate Degree 11
Undergraduate Certificate 4

What Financial Planning & Services Majors Need to Know

In an O*NET survey, financial planning majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Financial Planning Majors

According to O*NET survey takers, a major in financial planning should prepare you for careers in which you will need to be knowledgeable in the following areas:

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  • Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.

Skills for Financial Planning Majors

A major in financial planning prepares you for careers in which the following skill-sets are crucial:

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  • Speaking - Talking to others to convey information effectively.
  • Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Financial Planning Majors

Financial Planning majors often go into careers where the following abilities are vital:

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  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.

What Can You Do With a Financial Planning & Services Major?

Below is a list of occupations associated with financial planning:

Job Title Job Growth Rate Median Salary
Credit Counselors 13.8% $45,180
Personal Financial Advisors 14.9% $88,890
Sales Agents, Financial Services 6.2% $64,120
Sales Agents, Securities and Commodities 6.2% $64,120

Who Is Getting a Bachelor’s Degree in Financial Planning & Services?

552 Bachelor's Degrees Annually
31% Percent Women
19% Percent Racial-Ethnic Minorities*
This major tends to be male dominated. About 69% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of financial planning majors is as follows:

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Race/Ethnicity Number of Grads
Asian 14
Black or African American 30
Hispanic or Latino 40
White 404
International Students 27
Other Races/Ethnicities 37

Geographic Diversity

Students from other countries are interested in Financial Planning, too. About 4.9% of those with this major are international students.

How Much Do Financial Planning & Services Majors Make?

Salaries According to BLS

Average salaries range from $49,820 to $103,330 (25th to 75th percentile) for careers related to financial planning. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Median Salary for a Financial Planning & Services Major  ( 49820 to 103330 )
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250K
Median Salary for a High School Graduate  ( 30000 to 57900 )
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250K
Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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250K
Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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250K

Some careers associated with financial planning require an advanced degree while some may not even require a bachelor’s. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to financial planning have obtained the following education levels.

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Education Level Percentage of Workers
High School Diploma - or the equivalent (for example, GED) 14.8%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production) 1.4%
Some College Courses 5.9%
Associate’s Degree (or other 2-year degree) 5.2%
Bachelor’s Degree 37.3%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master. 6.7%
Master’s Degree 6.6%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level. 0.1%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession. 2.2%
Doctoral Degree 18.3%

Online Financial Planning & Services Programs

In 2019-2020, 92 schools offered a financial planning program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level Colleges Offering Programs Colleges Offering Online Classes
Certificate (Less Than 1 Year) 0 0
Certificate (1-2 years) 5 1
Certificate (2-4 Years) 0 0
Associate’s Degree 6 2
Bachelor’s Degree 14 3
Post-Baccalaureate 0 0
Master’s Degree 23 7
Post-Master’s 3 0
Doctor’s Degree (Research) 3 1
Doctor’s Degree (Professional Practice) 0 0
Doctor’s Degree (Other) 0 0

Is a Degree in Financial Planning & Services Worth It?

The median salary for a financial planning grad is $98,770 per year. This is based on the weighted average of the most common careers associated with the major.

This is 148% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,177,400 after 20 years!

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You may also be interested in one of the following majors related to financial planning.

Major Number of Grads
Finance 52,394
Banking and Financial Support Services 1,135
Other Finance and Financial Management Services 406
Investments and Securities 299
International Finance 73
Public Finance 34
Credit Management 7
Financial Risk Management 1

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

More about our data sources and methodologies.

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