Average Personal Financial Advisors Salary in Albuquerque, NM
Personal Financial Advisors in Albuquerque, NM, command an impressive average annual salary of $161,050. This figure slightly surpasses the national average of $160,360, indicating a strong local market for these professionals. Factors such as the specific financial landscape and demand within the Albuquerque metropolitan area likely contribute to this competitive compensation.
Executive Summary
- Average Salary: $161,050 per year.
- Growth Trend: Salaries have shifted 35.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $241,575.
- Outlook: With a local workforce of 320 Personal Financial Advisors, Albuquerque presents a stable, albeit not hyper-concentrated, job market. The Location Quotient of 0.46 suggests that while the profession is present, it is less concentrated than the national average, implying a steady demand rather than an oversaturated field. The presence of nearly one job per thousand workers (0.807) further supports a consistent need for skilled advisors.
Salary Overview
The average Personal Financial Advisors in Albuquerque, NM earns+0.4%above the national average.
$77.4
$3,097
$13,421
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Albuquerque is not provided, it is reasonable to assume that Personal Financial Advisor salaries in the region have experienced growth over the past four years, mirroring national trends. Economic shifts, evolving client needs, and increased demand for financial planning services typically drive upward salary adjustments for experienced professionals in this sector.
Personal Financial Advisors Salary Distribution in Albuquerque, NM
The career trajectory for Personal Financial Advisors in Albuquerque offers significant earning potential. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with extensive experience and a proven track record can command salaries well into the upper percentiles. The widening gap between entry-level and senior roles signifies substantial opportunities for career advancement and increased compensation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $57,220 | $27.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $120,788 | $58.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $80,220 | $38.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $201,313 | $96.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $241,575 | $116.1 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$161,050
Gross Pay
Real Wage (Purchasing Power)
$161,050
Adjusted for COL (100)
For Personal Financial Advisors considering a move to Albuquerque, the financial outlook is highly favorable. The average annual salary of $161,050 aligns perfectly with the local Cost of Living Index of 100, which is precisely the national average. This means that your earnings in Albuquerque will have the same purchasing power as the national average, making it an economically stable choice for financial professionals.
Job Market Context
320
Total Jobs
0.807
Per 1K Jobs
0.46
Location Quotient
At 0.46x, Albuquerque, NM has a notably lower concentration of Personal Financial Advisors jobs than the national average. Opportunities in this area are relatively scarce for this profession.
The Location Quotient of 0.46 for Personal Financial Advisors in Albuquerque indicates that this profession is less concentrated locally compared to the national average. This suggests that the job market may be less competitive, with potentially more opportunities available for qualified individuals relative to the number of professionals already in the area. It points to a market where demand might be steady and perhaps growing.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Eastern New Mexico nonmetropolitan area Personal Financial Advisors Salary | $88,850↓ 45% | 29 mi |
| Santa Fe, NM Personal Financial Advisors Salary | $134,120↓ 17% | 54 mi |
Comparing salaries near Albuquerque, NM
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Albuquerque, NM?
The median annual salary for a Personal Financial Advisors in Albuquerque, NM is $161,050. This typically ranges from $57,220 for entry-level positions to $241,575 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Albuquerque, NM is 0.4% higher than the national median of $160,360.
Is Albuquerque, NM a lucrative place for Personal Financial Advisors?
Yes, Albuquerque, NM is a lucrative place for Personal Financial Advisors.The average salary of $161,050 is slightly above the national average, and the cost of living is exactly at the national average, offering excellent purchasing power.
Is Albuquerque, NM a good place to live for Personal Financial Advisors?
The Cost of Living Index in Albuquerque, NM is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Albuquerque, NM?
Some top paying nearby cities include Eastern New Mexico nonmetropolitan area ($88,850) and Santa Fe, NM.
How does the Albuquerque salary compare to the national average?
The average annual salary for Personal Financial Advisors in Albuquerque is $161,050, which is slightly higher than the national average of $160,360.
What is the cost of living in Albuquerque compared to the national average?
Albuquerque's Cost of Living Index is 100, which is exactly the national average. This means your salary will have the same purchasing power as it would in a typical US city.
Is there high demand for Personal Financial Advisors in Albuquerque?
With 0.807 jobs per 1,000 workers and a total local workforce of 320, the demand is steady. The Location Quotient of 0.46 suggests it's less concentrated than the national average, potentially indicating good opportunities.
How does experience affect Personal Financial Advisor salaries in Albuquerque?
Experience significantly impacts earnings, with senior advisors earning substantially more than entry-level professionals. The salary range reflects clear opportunities for career progression and increased income.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 320 employees in the Albuquerque, NM area with a job density of 0.807 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Personal Financial Advisors • Data source: BLS OEWS 2024 •Jobs in Albuquerque, NM