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 amongst Michigan areas 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 2016 and published in April 2017 [1].

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

Percentile BracketAverage Annual Salary
10th Percentile Wage
$31,400
25th Percentile Wage
$51,270
50th Percentile Wage
$70,370
75th Percentile Wage
$145,090
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 $70,370. The average annual salary for the bottom 10 percent is $31,400.

Percentile BracketAverage Hourly Salary
10th Percentile Wage
$15.10
25th Percentile Wage
$24.65
50th Percentile Wage
$33.83
75th Percentile Wage
$69.75
90th Percentile Wage
$80.06

Table 2 shows the average hourly salary for personal financial advisors in Michigan in 5 percentile scales. The average hourly salary for the 90th percentile is $80.06. The median hourly salary is $33.83. The average hourly salary for the bottom 10 percent is $15.10.

Salary Trend (2012 to 2016)

The following table and chart show the trend of the median salary of personal financial advisors from 2012 to 2016.

YearMedian SalaryYearly Growth4-Year Growth
201670,3704.82%18.57%
201566,9806.26%-
201462,7904.32%-
201360,0804.63%-
201257,300--

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 $45,640 to $139,480. The highest paying area for personal financial advisors in Michigan is Northwest Lower Peninsula of Michigan nonmetropolitan area with a median annual salary of $139,480. The second highest paying city/area in Michigan State is Detroit-Livonia-Dearborn (mean annual salary $106,810). The lowest paying area is Balance of Lower Peninsula of Michigan nonmetropolitan area with a median annual salary of $45,640.

Cities/Areas Median Annual Salary
Northwest Lower Peninsula of Michigan nonmetropolitan area
$139,480
Detroit-Livonia-Dearborn
$106,810
Kalamazoo-Portage
$86,000
South Bend-Mishawaka
$80,620
Detroit-Warren-Livonia
$80,290
Ann Arbor
$74,440
Warren-Troy-Farmington Hills
$68,090
Saginaw-Saginaw Township North
$63,070
Grand Rapids-Wyoming
$59,450
Flint
$57,490
Lansing-East Lansing
$51,930
Holland-Grand Haven
$50,520
Balance of Lower Peninsula of Michigan nonmetropolitan area
$45,640


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