Investment Banker vs Financial Planner (CFP): Which Pays More?
Side-by-side salary comparison by city, experience level, and career growth outlook. Data reflects current market rates.
Investment Banker
Advise corporations on capital raising, M&A, and strategic financial transactions.
Financial Planner (CFP)
Provide holistic financial planning for individuals and families across all life stages.
Investment Banker earns more on average — the national median is $19,346/year (23%) higher than a Financial Planner (CFP). However, salaries vary significantly by city, employer, and experience level — see the city-by-city breakdown below.
Investment Banker vs Financial Planner (CFP) — Salary by City
National median figures in USD across top cities.
| City | Investment Banker | Financial Planner (CFP) | Difference |
|---|---|---|---|
| San Francisco, CA | $149,852 | $122,237 | Investment +$27,615 |
| New York, NY | $121,600 | $102,449 | Investment +$19,151 |
| Seattle, WA | $144,771 | $119,967 | Investment +$24,804 |
| Austin, TX | $111,968 | $93,002 | Investment +$18,966 |
| Chicago, IL | $110,184 | $88,809 | Investment +$21,375 |
| Boston, MA | $137,220 | $108,411 | Investment +$28,809 |
| London, UK | £80,088 | £65,795 | Investment +$14,293 |
| Toronto, Canada | CA$138,977 | CA$110,012 | Investment +$28,965 |
Frequently Asked Questions
Does a Investment Banker or Financial Planner (CFP) earn more?+
A Investment Banker earns more on average. The national median salary for a Investment Banker is $102,740/year, compared to $83,394/year for a Financial Planner (CFP) — a difference of $19,346 (23%).
Which has better career growth — Investment Banker or Financial Planner (CFP)?+
Investment Banker roles are growing at 8% YoY while Financial Planner (CFP) demand is growing at 15% YoY. Financial Planner (CFP) has stronger near-term demand growth.
Can you switch from Investment Banker to Financial Planner (CFP)?+
Yes. Many professionals transition between these roles, especially since both are in the same category. Shared skills include: analytical thinking, communication, and industry knowledge.
Which is harder to automate — Investment Banker or Financial Planner (CFP)?+
Financial Planner (CFP) has a lower AI automation risk (28% vs 28%). Based on Oxford Martin School and McKinsey 2023 analysis.