Average Personal Financial Advisors Salary in Bay City, MI
The average salary for Personal Financial Advisorss in Bay City, MI is $115,790. While this is lower than the national average, the cost of living in Bay City, MI may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $115,790 per year.
- Growth Trend: Salaries have shifted 19.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $194,960.
- Outlook: The current demand for Personal Financial Advisorss is stable, with a local workforce of approximately 30 professionals. This role remains a specialized component of the broader Bay City, MI economy.
Salary Overview
The average Personal Financial Advisors in Bay City, MI earns-27.8%below the national average.
$55.7
$2,227
$9,649
Personal Financial Advisors Salary Trends (2020-2024)
Over the past 3 years, Personal Financial Advisors salaries in Bay City, MI have shown healthy growth of 19.2%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Personal Financial Advisors Salary Distribution in Bay City, MI
The earning potential for Personal Financial Advisorss in Bay City, MI varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 4.2x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $46,940, while highly experienced professionals can command wages upwards of $194,960.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,940 | $22.6 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $86,843 | $41.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $93,820 | $45.1 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $144,738 | $69.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $194,960 | $93.7 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$115,790
Gross Pay
Real Wage (Purchasing Power)
$115,790
Adjusted for COL (100)
In Bay City, MI, the Cost of Living Index is 100. This increases your effective purchasing power from $115,790 to $115,790.
Job Market Context
30
Total Jobs
0.959
Per 1K Jobs
0.55
Location Quotient
Bay City, MI has 0.55x 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.
30 people work as Personal Financial Advisors in Bay City, MI.
Only 0.959 out of every 1,000 local jobs are Personal Financial Advisors roles — this is a niche profession in the area.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Saginaw, MI Personal Financial Advisors Salary | $151,890↑ 31% | 12 mi |
| Mid Michigan nonmetropolitan area Personal Financial Advisors Salary | $111,940↓ 3% | 37 mi |
| Southern Michigan nonmetropolitan area Personal Financial Advisors Salary | $78,060↓ 33% | 37 mi |
Comparing salaries near Bay City, MI
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Bay City, MI?
The median annual salary for a Personal Financial Advisors in Bay City, MI is $115,790. This typically ranges from $46,940 for entry-level positions to $194,960 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Bay City, MI is 27.8% lower than the national median of $160,360.
Is Bay City, MI a good place for Personal Financial Advisorss?
It depends on your priorities. While the average Personal Financial Advisors salary in Bay City, MI is $115,790 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Bay City, MI. See distinct detailed breakdown below.
Is Bay City, MI a good place to live for Personal Financial Advisors?
The Cost of Living Index in Bay City, MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Bay City, MI?
Some top paying nearby cities include Saginaw, MI ($151,890) and Mid Michigan nonmetropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 30 employees in the Bay City, MI area with a job density of 0.959 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 Bay City, MI