Personal Financial Advisor Salary Information in Michigan

The average annual and hourly salaries for personal financial advisors in the state of Michigan are shown in Table 1 and Table 2, respectively. The comparison of the salary statistics of personal financial advisors among Michigan cities is shown in Table 3. The salary statistics are based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2017 and published in April 2018 [1].

Table 1 & 2. Annual & Hourly Salary of Personal Financial Advisors in Michigan

Percentile BracketAverage Annual Salary
10th Percentile Wage
$33,350
25th Percentile Wage
$54,270
50th Percentile Wage
$76,300
75th Percentile Wage
$148,730
90th Percentile Wage
$166,530

Table 1 shows the average annual salary for personal financial advisors in Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $166,530. The median (50th percentile) annual salary is $76,300. The average annual salary for the bottom 10 percent is $33,350.

Salary Trend (2012 to 2017)

The table and chart below show the trend of the median salary of personal financial advisors from 2012 to 2017.

YearMedian SalaryYearly Growth5-Year Growth
2017
$76,300
7.77% 24.90%
2016
$70,370
4.82% -
2015
$66,980
6.26% -
2014
$62,790
4.32% -
2013
$60,080
4.63% -
2012
$57,300
- -

Table 3. Median Annual Salary of Personal Financial Advisors in Michigan Cities

Table 3 shows the median annual salary of personal financial advisors in some Michigan cities and metropolitan areas. We note that the median annual salary of personal financial advisors in state of Michigan ranges from $39,430 to $114,550. The highest paying area for personal financial advisors in Michigan is Upper Peninsula of Michigan nonmetropolitan area with a median annual salary of $114,550. The second highest paying city/area in Michigan State is Lansing-East Lansing (mean annual salary $97,240). The lowest paying area is Northeast Lower Peninsula of Michigan nonmetropolitan area with a median annual salary of $39,430.

Cities/Areas Median Annual Salary
Upper Peninsula of Michigan nonmetropolitan area
$114,550
Lansing-East Lansing
$97,240
Northwest Lower Peninsula of Michigan nonmetropolitan area
$96,270
Detroit-Livonia-Dearborn
$87,900
Detroit-Warren-Livonia
$81,500
Kalamazoo-Portage
$80,150
South Bend-Mishawaka
$77,710
Balance of Lower Peninsula of Michigan nonmetropolitan area
$77,520
Ann Arbor
$75,410
Jackson
$74,240
Monroe
$71,730
Saginaw-Saginaw Township North
$71,370
Warren-Troy-Farmington Hills
$68,090
Niles-Benton Harbor
$65,940
Grand Rapids-Wyoming
$64,840
Muskegon-Norton Shores
$62,240
Flint
$61,900
Battle Creek
$59,550
Holland-Grand Haven
$50,520
Northeast Lower Peninsula of Michigan nonmetropolitan area
$39,430




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