The annual salary statistics of personal financial advisors in Detroit-Warren-Livonia, Michigan is shown in Table 1. The wage data of personal financial advisors in Detroit-Warren-Livonia is based on the national compensation survey conducted by the U.S. Bureau of Labor Statistics in 2022 and published in April 2023 [1].
| Percentile Bracket | Average Annual Salary |
|---|---|
| 10th Percentile Wage | $45,880 |
| 25th Percentile Wage | $61,810 |
| 50th Percentile Wage | $100,590 |
| 75th Percentile Wage | $170,210 |
| 90th Percentile Wage | $174,630 |
Table 1 shows the average annual salary for personal financial advisors in Detroit-Warren-Livonia, Michigan in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $174,630. The median (50th percentile) annual salary is $100,590. The average annual salary for the bottom 10 percent earners is $45,880.
The table and chart below show the trend of the median salary of personal financial advisors from 2012 to 2022.
| Year | Median Salary | Yearly Growth | 10-Year Growth |
|---|---|---|---|
| 2022 | $100,590 | 18.74% | 39.39% |
| 2021 | $81,740 | -4.49% | - |
| 2020 | $85,410 | 11.28% | - |
| 2019 | $75,780 | 4.95% | - |
| 2018 | $72,030 | -13.15% | - |
| 2017 | $81,500 | 1.48% | - |
| 2016 | $80,290 | 13.60% | - |
| 2015 | $69,370 | 4.43% | - |
| 2014 | $66,300 | 5.11% | - |
| 2013 | $62,910 | 3.08% | - |
| 2012 | $60,970 | - | - |
From Table 3 we note that the median annual salary of $100,590 in Detroit-Warren-Livonia is in the middle of salary range for personal financial advisors in state of Michigan. In comparison, the annual salary of personal financial advisors in Detroit-Warren-Livonia is 23.1 percent (23.1%) lower than that in the highest paying Battle Creek and 49.8 percent (49.8%) higher than that in the lowest paying Holland-Grand Haven.