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The differences between finance counselors and investment counselors can be seen in a few details. Each job has different responsibilities and duties. It typically takes 2-4 years to become both a finance counselor and an investment counselor. Additionally, an investment counselor has an average salary of $120,817, which is higher than the $40,561 average annual salary of a finance counselor.
The top three skills for a finance counselor include patients, customer service and medical terminology. The most important skills for an investment counselor are client service, capital markets, and client relationships.
| Finance Counselor | Investment Counselor | |
| Yearly salary | $40,561 | $120,817 |
| Hourly rate | $19.50 | $58.09 |
| Growth rate | 15% | 15% |
| Number of jobs | 101,005 | 33,016 |
| Job satisfaction | - | - |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 78% |
| Average age | 45 | 45 |
| Years of experience | 4 | 4 |
A finance counselor specializes in providing billing advice to patients in a hospital or similar setting. They are primarily responsible for giving cost-estimates and offering financial assistance in payment plans and other options such as insurance. Moreover, they must gather patient information and requirements, verifying them for authenticity. They must also review financial and medical history to ensure that the patient can uphold financial obligations. Furthermore, it is essential to build rapport with clients to improve relationships.
Investment counselors can be called financial planners. They usually work in a financial institution to communicate with clients on how to invest in an investment. An investment counselor often assesses the client's financial situation to come up with a financial plan. Sometimes, they are also responsible for conducting training and workshops for both clients and bank employees.
Finance counselors and investment counselors have different pay scales, as shown below.
| Finance Counselor | Investment Counselor | |
| Average salary | $40,561 | $120,817 |
| Salary range | Between $32,000 And $50,000 | Between $68,000 And $213,000 |
| Highest paying City | Glen Cove, NY | New York, NY |
| Highest paying state | New York | New York |
| Best paying company | Morgan Stanley | Citi |
| Best paying industry | Health Care | Finance |
There are a few differences between a finance counselor and an investment counselor in terms of educational background:
| Finance Counselor | Investment Counselor | |
| Most common degree | Bachelor's Degree, 47% | Bachelor's Degree, 78% |
| Most common major | Business | Business |
| Most common college | University of Pennsylvania | University of Minnesota - Twin Cities |
Here are the differences between finance counselors' and investment counselors' demographics:
| Finance Counselor | Investment Counselor | |
| Average age | 45 | 45 |
| Gender ratio | Male, 21.0% Female, 79.0% | Male, 74.0% Female, 26.0% |
| Race ratio | Black or African American, 6.1% Unknown, 4.4% Hispanic or Latino, 10.1% Asian, 5.8% White, 73.4% American Indian and Alaska Native, 0.1% | Black or African American, 5.6% Unknown, 4.4% Hispanic or Latino, 9.4% Asian, 8.1% White, 72.5% American Indian and Alaska Native, 0.1% |
| LGBT Percentage | 5% | 5% |