The salary statistics of personal financial advisors are shown in Table 1. In the next few tables we compare the average salaries of personal financial advisors within different industry sectors and in the 50 states of the United States. The personal financial advisors annual salary statistics are from 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 | $46,700 |
| 25th Percentile Wage | $61,960 |
| 50th Percentile Wage | $95,390 |
| 75th Percentile Wage | $165,590 |
| 90th Percentile Wage | No Data |
Table 1 shows the average annual salary for personal financial advisors. The average annual salary for the 75th percentile (the top 25 percent of the highest paid) is $165,590. The median annual salary (50th percentile) is $95,390. The average annual salary for the bottom 10 percent is $46,700. Notice that in the United States, the annual salary of the 75th percentile (the top 25 percent of the highest paid) is almost 254% higher than that of the bottom 10 percent.
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 | $95,390 | 1.28% | 29.22% |
| 2021 | $94,170 | 5.14% | - |
| 2020 | $89,330 | 1.66% | - |
| 2019 | $87,850 | -1.18% | - |
| 2018 | $88,890 | -1.97% | - |
| 2017 | $90,640 | 0.12% | - |
| 2016 | $90,530 | 1.51% | - |
| 2015 | $89,160 | 9.08% | - |
| 2014 | $81,060 | 7.08% | - |
| 2013 | $75,320 | 10.36% | - |
| 2012 | $67,520 | - | - |
The average salaries of personal financial advisors in 15 major industry sectors are shown in Table 2. We note that the salaries vary considerably within different industry sectors. The highest paying industry sector for personal financial advisors occupations is the mining sector with an annual salary $123,030. The lowest paying sector is the health care and social assistance sector (annual salary $41,510).
From the above tables we note that not only personal financial advisors salaries vary considerably based on one's education and experience, and the industry sectors, they also change considerably from state to state. In the following table we compare the median salary of personal financial advisors in all 50 states of the United States. We note that the median annual salaries range from $36,550 to $167,000. The highest paying state for personal financial advisors is New York with a median annual salary of $167,000. The lowest paying state is Puerto Rico with a median annual salary of $36,550. For more salary information of personal financial advisors profession in a specific state, use the links in the table.