The annual salary statistics of personal financial advisors in Cleveland-Elyria-Mentor, Ohio is shown in Table 1. The wage information of personal financial advisors in Cleveland-Elyria-Mentor 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 | $47,520 |
| 25th Percentile Wage | $62,810 |
| 50th Percentile Wage | $81,370 |
| 75th Percentile Wage | $131,440 |
| 90th Percentile Wage | $210,650 |
Table 1 shows the average annual salary for personal financial advisors in Cleveland-Elyria-Mentor, Ohio in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $210,650. The median (50th percentile) annual salary is $81,370. The average annual salary for the bottom 10 percent earners is $47,520.
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 | $81,370 | -22.08% | 24.90% |
| 2021 | $99,340 | 22.14% | - |
| 2020 | $77,350 | 20.52% | - |
| 2019 | $61,480 | -10.88% | - |
| 2018 | $68,170 | -19.82% | - |
| 2017 | $81,680 | 2.09% | - |
| 2016 | $79,970 | 12.65% | - |
| 2015 | $69,850 | 7.43% | - |
| 2014 | $64,660 | -7.22% | - |
| 2013 | $69,330 | 11.86% | - |
| 2012 | $61,110 | - | - |
From Table 3 we note that the median annual salary of $81,370 in Cleveland-Elyria-Mentor is in the middle of salary range for personal financial advisors in state of Ohio. In comparison, the annual salary of personal financial advisors in Cleveland-Elyria-Mentor is 15.3 percent (15.3%) lower than that in the highest paying Cincinnati-Middletown and 28.0 percent (28.0%) higher than that in the lowest paying Lima.
| Cities/Areas | Median Annual Salary |
|---|---|
| Cincinnati-Middletown | |
| Dayton | |
| Akron | |
| Cleveland-Elyria-Mentor | |
| Eastern Ohio nonmetropolitan area | |
| Columbus | |
| West Northwestern Ohio nonmetropolitan area | |
| Canton-Massillon | |
| Southern Ohio nonmetropolitan area | |
| Other Ohio nonmetropolitan area | |
| Toledo | |
| Sandusky | |
| Mansfield | |
| Springfield | |
| Lima |