The average salary for a financial advisor in the United States is around $80,947 per year.
Avg Salary
Financial advisors earn an average yearly salary of $80,947.
Wages typically start from $39,575 and go up to $165,568.
43% above national average Updated in 2019
Financial advisor earnings by seniority
Top-level financial advisor earnings begin at:
$79.60 per hour
$165,568 per year
Senior-level financial advisor earnings begin at:
$56.72 per hour
$117,968 per year
Mid-level financial advisor earnings begin at:
$38.92 per hour
$80,947 per year
Junior-level financial advisor earnings begin at:
$26.70 per hour
$55,544 per year
Starting level financial advisor earnings begin at:
$19.03 per hour
$39,575 per year
Approximate values based on highest and lowest earning segments.
Financial advisor salary by state
| State Name | Average Salary |
|---|---|
| Washington | $99,960 |
| Connecticut | $98,000 |
| North Carolina | $97,960 |
| Georgia | $96,980 |
| California | $96,490 |
| New Mexico | $91,050 |
| Pennsylvania | $90,928 |
| Kansas | $90,606 |
| Florida | $90,460 |
| Wisconsin | $88,590 |
| Texas | $88,220 |
| Colorado | $85,120 |
| Kentucky | $84,103 |
| Rhode Island | $83,670 |
| Virginia | $83,220 |
| Massachusetts | $82,060 |
| Hawaii | $81,655 |
| Maryland | $81,360 |
| Wyoming | $80,630 |
| Alabama | $79,293 |
| Minnesota | $79,010 |
| Oregon | $78,920 |
| Nevada | $76,550 |
| Ohio | $74,390 |
| Montana | $73,240 |
| Michigan | $73,050 |
| Mississippi | $72,320 |
| Idaho | $70,670 |
| North Dakota | $70,500 |
| Arizona | $70,096 |
| Utah | $69,740 |
| South Dakota | $68,830 |
| Vermont | $68,340 |
| Nebraska | $68,290 |
| Louisiana | $67,750 |
| New Hampshire | $65,030 |
| Tennessee | $63,490 |
| Missouri | $63,000 |
| Alaska | $62,280 |
| West Virginia | $61,900 |
| Arkansas | $60,480 |
| South Carolina | $60,070 |
| Oklahoma | $54,530 |
| Puerto Rico | $47,060 |
| New York | $136,830 |
| District of Columbia | $136,660 |
| Illinois | $126,640 |
| Indiana | $108,576 |
| New Jersey | $107,250 |
| Iowa | $103,033 |
| Delaware | $101,920 |
| Maine | $101,550 |
How much does a Financial Advisor earn?
“In the wake of the recession, people are looking for guidance on how to build financial security after depleting short-term savings, tapping into retirement funds and losing home equity,’’ says Jennifer Grasz of Careerbuilder.com. “We see more demand for financial advisors.”
Salaries for financial advisors vary with experience. The trainee stage for most financial advisers lasts up to three years, as they establish a set of regular clients and start earning commissions. Eventually, brokerage firms tend to stop paying advisers a base salary. An entry-level financial advisor earns 17% below average, a mid-career financial advisor earns 27% above average, and a late-career financial advisor earns 105% above average.
In addition to salaries, financial advisors also receive compensation in the form of bonuses, profit sharing and commissions. According to Payscale.com, the average annual bonus received by a financial advisor ranges from $0 to $29,936. The average annual profit sharing compensation ranges from $1,163 to $15,115. The average annual commission compensation ranges from $3,912 to $186,292.
Financial advisors that have customer relationship management skills earn 2% above average, and those with financial analysis skills earn 3% above average. Financial advisors with sales skills earn 9% above average, those with investment planning skills earn 22% above average, those with investment management skills earn 38% above average, and advisors with portfolio management skills earn 56% above average.
How do financial advisor salaries compare to similar careers?
Financial advisors earn about the same as related careers in the United States. On average, they make less than financial managers but more than budget analysts.
| Career | Median Salary |
|---|---|
| Financial manager salary | $114K |
| Bank branch manager salary | $105K |
| Actuary salary | $108K |
| Statistician salary | $91K |
| Financial advisor salary | $81K |
| Operations research analyst salary | $85K |
| Consultant salary | $78K |
| Business analyst salary | $75K |
| Budget analyst salary | $76K |
Source: CareerExplorer (Aggregated)