The annual salary statistics of personal financial advisors in Rapid City, South Dakota is shown in Table 1. The wage data of personal financial advisors in Rapid City 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 | $76,640 |
| 25th Percentile Wage | $84,880 |
| 50th Percentile Wage | $84,880 |
| 75th Percentile Wage | $115,880 |
| 90th Percentile Wage | $133,820 |
Table 1 shows the average annual salary for personal financial advisors in Rapid City, South Dakota in 5 percentile scales. The average annual salary for the 90th percentile (the top 10 percent of the highest paid) is $133,820. The median (50th percentile) annual salary is $84,880. The average annual salary for the bottom 10 percent earners is $76,640.
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 | $84,880 | -52.05% | 13.38% |
| 2021 | $129,060 | 45.85% | - |
| 2018 | $69,890 | -6.37% | - |
| 2017 | $74,340 | 1.10% | - |
| 2016 | $73,520 | 5.90% | - |
| 2015 | $69,180 | 6.97% | - |
| 2014 | $64,360 | 13.33% | - |
| 2013 | $55,780 | -31.80% | - |
| 2012 | $73,520 | - | - |
From Table 3 we note that with a median annual salary of $84,880, Rapid City is the lowest paying city for personal financial advisors in state of South Dakota, following city of Western South Dakota nonmetropolitan area (median annual salary of $126,780). Compared with the highest paying city Western South Dakota nonmetropolitan area, the median annual salary of personal financial advisors in Rapid City is 33.0 percent (33.0%) lower.
| Cities/Areas | Median Annual Salary |
|---|---|
| Western South Dakota nonmetropolitan area | |
| Sioux Falls | |
| Eastern South Dakota nonmetropolitan area | |
| Sioux City | |
| Rapid City |