Average Personal Financial Advisors Salary in Ann Arbor, MI
Personal Financial Advisors in Ann Arbor, MI, earn an average annual salary of $158,740. This figure is slightly below the national average of $160,360, suggesting a nuanced compensation landscape in this Michigan city. Local economic factors and demand dynamics likely contribute to this slight divergence from the national benchmark.
Executive Summary
- Average Salary: $158,740 per year.
- Growth Trend: Salaries have shifted 38.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $238,110.
- Outlook: With a total local workforce of 250 Personal Financial Advisors, Ann Arbor presents a moderately sized market. The Location Quotient of 0.66 indicates a concentration of these professionals that is below the national average. This suggests that while the role is present, it is not as densely populated as in other regions, potentially offering opportunities for those entering the field.
Salary Overview
The average Personal Financial Advisors in Ann Arbor, MI earns-1.0%below the national average.
$76.3
$3,053
$13,228
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Personal Financial Advisor salaries in Ann Arbor, mirroring national trends, have experienced steady growth over the past four years. Factors such as increasing demand for financial planning services, evolving market conditions, and inflation typically drive upward salary adjustments for experienced professionals in this sector.
Personal Financial Advisors Salary Distribution in Ann Arbor, MI
The salary range for Personal Financial Advisors in Ann Arbor, MI, typically scales significantly with experience. Entry-level positions might start considerably lower, while seasoned professionals with extensive client portfolios and specialized expertise can command salaries well above the average. The percentile gaps in earnings clearly signify career progression, rewarding accumulated knowledge, client trust, and successful financial management strategies.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,260 | $23.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $119,055 | $57.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $102,520 | $49.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $198,425 | $95.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $238,110 | $114.5 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$158,740
Gross Pay
Real Wage (Purchasing Power)
$158,740
Adjusted for COL (100)
For Personal Financial Advisors considering a move to Ann Arbor, MI, the nominal average salary of $158,740 aligns perfectly with the local Cost of Living Index of 100. This means that the purchasing power of an advisor's income in Ann Arbor is equivalent to the national average, offering a stable financial foundation without the immediate pressure of higher or lower living expenses.
Job Market Context
250
Total Jobs
1.165
Per 1K Jobs
0.66
Location Quotient
Ann Arbor, MI has 0.66x the national average concentration of Personal Financial Advisors jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
The Location Quotient of 0.66 for Personal Financial Advisors in Ann Arbor signifies that the concentration of these professionals is lower than the national average. This suggests that the job market may be less saturated compared to national hubs, potentially indicating a competitive environment for new entrants but also a potentially strong demand for skilled advisors who can fill existing needs.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Jackson, MI Personal Financial Advisors Salary | $141,670↓ 11% | 34 mi |
| Detroit-Warren-Dearborn, MI Personal Financial Advisors Salary | $152,030↓ 4% | 35 mi |
| Toledo, OH Personal Financial Advisors Salary | $117,000↓ 26% | 43 mi |
| Flint, MI Personal Financial Advisors Salary | $158,470↓ 0% | 52 mi |
Comparing salaries near Ann Arbor, MI
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Ann Arbor, MI?
The median annual salary for a Personal Financial Advisors in Ann Arbor, MI is $158,740. This typically ranges from $48,260 for entry-level positions to $238,110 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Ann Arbor, MI is 1.0% lower than the national median of $160,360.
Is Ann Arbor, MI a lucrative place for Personal Financial Advisors?
Yes, Ann Arbor, MI offers a competitive salary for Personal Financial Advisors.The average salary of $158,740 is substantial and aligns with the national average cost of living, making it a financially stable location for the profession.
Is Ann Arbor, MI a good place to live for Personal Financial Advisors?
The Cost of Living Index in Ann Arbor, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Ann Arbor, MI?
Some top paying nearby cities include Jackson, MI ($141,670) and Detroit-Warren-Dearborn, MI.
How does Ann Arbor's Personal Financial Advisor salary compare to the national average?
The average annual salary for Personal Financial Advisors in Ann Arbor, MI is $158,740, which is slightly lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Ann Arbor?
Ann Arbor has a Location Quotient of 0.66 for Personal Financial Advisors, indicating a lower concentration of these professionals compared to the national average.
How does the cost of living in Ann Arbor affect salary perception?
With a Cost of Living Index of 100, Ann Arbor is at the national average, meaning the $158,740 salary offers purchasing power equivalent to the national average.
What does the total local workforce number imply for job seekers?
A total local workforce of 250 Personal Financial Advisors suggests a moderately sized market, which could mean fewer openings but potentially less competition for experienced professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Ann Arbor, MI area with a job density of 1.165 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 Ann Arbor, MI