Paraplanners

Headline stats

58% male, 38% female with 4% preferring not to say
90% full time, 10% part-time
100% employed
52% qualified to Level 4, 20% Chartered (and 12% in process of attaining Level 4 with 14% in process of becoming chartered
Average age 40

Size of organisation

Paraplanners are very evenly spread across size of organisation – with the exception of the smallest adviser firms where advisers would carry out the role with some administration support, or out source of course.

Age range

Salaries

Distribution of Salaries

Bonuses

Paraplanners tend to receive relatively low bonuses, but this year with an increase over 46%.

Distribution of Bonuses

Calculation of Bonus

Earnings

Paraplanners are now remunerated with a reasonable professional earnings package. However, in some adviser practices the role played by Paraplanners can embrace tech developments, regulatory work and large parts of practice management. We feel the gap between Paraplanners and Advisers in remuneration terms has scope to be reduced.

Distribution of Earnings

Impact of gender on salary, bonus and earnings

Paraplanners experience a much more modest gender gap at just 6.5%

Professional Qualifications

For some years now Paraplanners have been highly committed to the professional qualifications programmes.

Impact of qualifications on earnings

Again, here we have a clear demonstration of the rewards to be gained from commitment to qualifications. Whilst strictly speaking Paraplanners have no regulatory requirement to hold these qualifications the technical demands of their role suggest that in practical terms they are more or less mandatory.