The annual salary statistics of personal financial advisors in Northwest Minnesota nonmetropolitan area, Minnesota is shown in Table 1. The wage information of personal financial advisors in Northwest Minnesota nonmetropolitan area 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 | $46,540 |
| 25th Percentile Wage | $61,600 |
| 50th Percentile Wage | $73,820 |
| 75th Percentile Wage | $146,560 |
| 90th Percentile Wage | $76,380 |
Table 1 shows the average annual salary for personal financial advisors in Northwest Minnesota nonmetropolitan area, Minnesota in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $76,380. The median (50th percentile) annual salary is $73,820. The average annual salary for the bottom 10 percent earners is $46,540.
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 | $73,820 | -4.40% | 39.19% |
| 2021 | $77,070 | 29.79% | - |
| 2019 | $54,110 | 6.02% | - |
| 2018 | $50,850 | -13.33% | - |
| 2017 | $57,630 | -31.09% | - |
| 2016 | $75,550 | 48.71% | - |
| 2015 | $38,750 | -39.79% | - |
| 2014 | $54,170 | 5.26% | - |
| 2013 | $51,320 | 12.53% | - |
| 2012 | $44,890 | - | - |
From Table 3 we note that the median annual salary of $73,820 in Northwest Minnesota nonmetropolitan area is in the middle of salary range for personal financial advisors in state of Minnesota. In comparison, the annual salary of personal financial advisors in Northwest Minnesota nonmetropolitan area is 24.2 percent (24.2%) lower than that in the highest paying Rochester and 33.4 percent (33.4%) higher than that in the lowest paying Northeast Minnesota nonmetropolitan area.
| Cities/Areas | Median Annual Salary |
|---|---|
| Rochester | |
| Southeast Minnesota nonmetropolitan area | |
| Southwest Minnesota nonmetropolitan area | |
| St Cloud | |
| Northwest Minnesota nonmetropolitan area | |
| Mankato-North Mankato | |
| Northeast Minnesota nonmetropolitan area |