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Salary for Pension Administrator


Guest CAadmin
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Guest CAadmin

Hi! I'm working for a small Pension Company and would like to know what the average pay is? I have 4-5 years of experience. I just completed PA-1, Pa-2 and will be taking PA-3 this month. I plan to get my QKA designation so I'll be taking DC-1 and DC-2 as well. I'm having second thoughts about staying in this field because of the pay and feel that there is no room for advancement. Does anyone feel the same way? Any suggestions or feedback would be appreciated.

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other factors:

your login name implies California. I would imagine the cost of living is a lot more there. therefore, how do you compare salaries?

as to no room for advancement, well....

passing a few tests did get me the initials after the name.

being in the right place at the right time has led to speaking possibilities, articles, etc.

was it worth it financially? probably not with the deadlines I have to meet sometimes, but I do at least like those extra things I have been involved in. And someday I will move back a little farther north so I can enjoy tulips, daffodils, cherry trees, etc, and all this extra stuff I have done should make it easier to find a job for a nut case like myself.

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  • 3 years later...
Guest PhxSunDevil
Hi! I'm working for a small Pension Company and would like to know what the average pay is? I have 4-5 years of experience. I just completed PA-1, Pa-2 and will be taking PA-3 this month. I plan to get my QKA designation so I'll be taking DC-1 and DC-2 as well. I'm having second thoughts about staying in this field because of the pay and feel that there is no room for advancement. Does anyone feel the same way? Any suggestions or feedback would be appreciated.

CAadmin

I face the same problems and issues. I have also completed PA-1 and PA-2 but have yet to proceed in additional testing. I have had second thoughts about staying in the filed due to the lack of potential growth in the industry and pay. I have worked for Both Charles Schwab and now a small Pension Company in holding over 200 plans. After having our safe harbor match taken away this year, I have started looking for other employment. Lucky I still in my mid 20's but in all honesty I cannot see must advancement in the field. I know of people who have worked in the industry for 15 plus years and don’t see a salary of over 60k. Have you looked into getting your Series 6 or 7? I know there are many opportunities and doors that will open with those Certs. Hope that helps

Jay

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  • 2 weeks later...

Even within the same geographic area, the pay can vary dramatically. Part of it will be your qualifications and experience, and part of it will relate to working expectations. I left a job that required working 6 days a week for 8-9 months of the year in favor of one that promised a 40 hour work week most of the year. That cost me about $18,000 a year in salary. Most days I think it was well worth it.

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