Average Personal Financial Advisors Salary in Baltimore-Columbia-Towson, MD
Personal Financial Advisors in the Baltimore-Columbia-Towson, MD area earn an impressive average annual salary of $168,930. This figure notably surpasses the national average of $160,360, indicating a strong demand and potentially higher earning potential within this specific metropolitan region. Factors such as the local economic landscape and the concentration of wealth likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $168,930 per year.
- Growth Trend: Salaries have shifted 57.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $253,395.
- Outlook: The Baltimore-Columbia-Towson, MD area presents a robust job market for Personal Financial Advisors, evidenced by a substantial local workforce of 3,540 professionals. The Location Quotient of 1.51 signifies a concentration of these roles that is 51% higher than the national average, suggesting a strong and established demand for financial advisory services in the region.
Salary Overview
The average Personal Financial Advisors in Baltimore-Columbia-Towson, MD earns+5.3%above the national average.
$81.2
$3,249
$14,078
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the compensation for Personal Financial Advisors in Baltimore-Columbia-Towson, MD has experienced consistent growth over the past four years, mirroring national trends. This upward trajectory is typically driven by increasing demand for financial planning services, evolving market complexities, and the accumulation of experience within the local professional pool.
Personal Financial Advisors Salary Distribution in Baltimore-Columbia-Towson, MD
Career progression for Personal Financial Advisors in Baltimore-Columbia-Towson, MD directly correlates with increased earning potential. Entry-level positions typically offer salaries at the lower end of the spectrum, while seasoned professionals with extensive experience and a proven track record command significantly higher compensation. The widening gap between salary percentiles clearly signifies the substantial rewards associated with career advancement and specialization in this field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,990 | $24 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $126,698 | $60.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $114,490 | $55 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $211,163 | $101.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $253,395 | $121.8 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$168,930
Gross Pay
Real Wage (Purchasing Power)
$168,930
Adjusted for COL (100)
The average annual salary of $168,930 for Personal Financial Advisors in Baltimore-Columbia-Towson, MD aligns perfectly with the local Cost of Living Index of 100. This means that the nominal salary holds its purchasing power precisely at the national average, suggesting that the higher earnings are balanced by the cost of living, offering a stable financial standing for advisors in this area.
Job Market Context
3,540
Total Jobs
2.643
Per 1K Jobs
1.51
Location Quotient
Baltimore-Columbia-Towson, MD has 1.5x the national concentration of Personal Financial Advisors jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
With a Location Quotient of 1.51, the Baltimore-Columbia-Towson, MD market demonstrates a notable concentration of Personal Financial Advisors compared to the national average. This indicates a more competitive landscape but also suggests a thriving industry with ample opportunities for those seeking to establish or advance their careers in financial advisory services within this region.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Maryland nonmetropolitan area Personal Financial Advisors Salary | $118,000↓ 30% | 19 mi |
| Washington-Arlington-Alexandria, DC-VA-MD-WV Personal Financial Advisors Salary | $170,870↑ 1% | 35 mi |
| York-Hanover, PA Personal Financial Advisors Salary | $163,950↓ 3% | 47 mi |
| Lancaster, PA Personal Financial Advisors Salary | $152,370↓ 10% | 55 mi |
Comparing salaries near Baltimore-Columbia-Towson, MD
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Baltimore-Columbia-Towson, MD?
The median annual salary for a Personal Financial Advisors in Baltimore-Columbia-Towson, MD is $168,930. This typically ranges from $49,990 for entry-level positions to $253,395 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Baltimore-Columbia-Towson, MD is 5.3% higher than the national median of $160,360.
Is Baltimore-Columbia-Towson, MD a lucrative place for Personal Financial Advisors?
Yes, it is a lucrative area for Personal Financial Advisors.The average salary of $168,930 significantly exceeds the national average, and the market shows a higher concentration of these roles than the national average.
Is Baltimore-Columbia-Towson, MD a good place to live for Personal Financial Advisors?
The Cost of Living Index in Baltimore-Columbia-Towson, MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Baltimore-Columbia-Towson, MD?
Some top paying nearby cities include Maryland nonmetropolitan area ($118,000) and Washington-Arlington-Alexandria, DC-VA-MD-WV.
How does the Baltimore-Columbia-Towson, MD salary compare to the national average?
Personal Financial Advisors in Baltimore-Columbia-Towson, MD earn an average of $168,930 annually, which is $8,570 higher than the national average of $160,360.
What is the size of the Personal Financial Advisor workforce in Baltimore-Columbia-Towson, MD?
The total local workforce for Personal Financial Advisors in Baltimore-Columbia-Towson, MD is approximately 3,540 individuals.
How concentrated are Personal Financial Advisor jobs in Baltimore-Columbia-Towson, MD?
The Location Quotient of 1.51 indicates that Personal Financial Advisor jobs are 51% more concentrated in Baltimore-Columbia-Towson, MD than the national average.
Does the cost of living affect the value of a Personal Financial Advisor's salary in Baltimore-Columbia-Towson, MD?
No, the cost of living in Baltimore-Columbia-Towson, MD is at the national average (100), meaning the $168,930 salary has the same purchasing power as the national average salary.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 3,540 employees in the Baltimore-Columbia-Towson, MD area with a job density of 2.643 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 Baltimore-Columbia-Towson, MD