Average Personal Financial Advisors Salary in Bridgeport-Stamford-Danbury, CT
Personal Financial Advisors in the Bridgeport-Stamford-Danbury, CT area earn an impressive average annual salary of $160,610. This figure slightly surpasses the national average of $160,360, indicating a strong demand and potentially higher earning potential within this specific Connecticut region. The robust economic landscape and concentration of wealth in this metropolitan area likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $160,610 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $240,915.
- Outlook: The job market for Personal Financial Advisors in Bridgeport-Stamford-Danbury, CT, appears robust, supported by a local workforce of 2,040 professionals. The Location Quotient of 2.89 signifies a significantly higher concentration of these roles compared to the national average, suggesting strong and sustained demand for financial advisory services in the area.
Salary Overview
The average Personal Financial Advisors in Bridgeport-Stamford-Danbury, CT earns+0.2%above the national average.
$77.2
$3,089
$13,384
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume a positive growth trend for Personal Financial Advisor salaries in Bridgeport-Stamford-Danbury, CT over the past four years. Factors such as increasing demand for financial planning, a growing affluent population, and evolving market conditions typically drive salary increases in this specialized field, mirroring national trends.
Personal Financial Advisors Salary Distribution in Bridgeport-Stamford-Danbury, CT
Salary progression for Personal Financial Advisors in Bridgeport-Stamford-Danbury, CT, is strongly tied to experience. Entry-level positions typically start at a lower percentile, while seasoned professionals with a proven track record and extensive client portfolios can command salaries well into the higher percentiles. The significant gaps between entry-level and senior roles highlight the substantial career growth and earning potential available.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $52,070 | $25 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $120,458 | $57.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $130,290 | $62.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $200,763 | $96.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $240,915 | $115.8 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$160,610
Gross Pay
Real Wage (Purchasing Power)
$160,610
Adjusted for COL (100)
The nominal average annual salary of $160,610 in Bridgeport-Stamford-Danbury, CT, is perfectly aligned with the local Cost of Living Index of 100, which matches the national average. This means that the purchasing power of a Personal Financial Advisor's salary in this region is equivalent to the national standard, offering a stable financial environment without the added pressure of a higher cost of living.
Job Market Context
2,040
Total Jobs
5.072
Per 1K Jobs
2.89
Location Quotient
Bridgeport-Stamford-Danbury, CT has 2.9x 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 2.89, Bridgeport-Stamford-Danbury, CT, is a highly concentrated market for Personal Financial Advisors. This indicates that the region employs nearly three times the number of financial advisors relative to the national average, suggesting a competitive yet abundant job market with ample opportunities for both new entrants and experienced professionals.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| New Haven, CT Personal Financial Advisors Salary | $149,470↓ 7% | 16 mi |
| Waterbury-Shelton, CT Personal Financial Advisors Salary | $157,260↓ 2% | 27 mi |
| Connecticut nonmetropolitan area Personal Financial Advisors Salary | $114,670↓ 29% | 36 mi |
| Hartford-West Hartford-East Hartford, CT Personal Financial Advisors Salary | $124,440↓ 23% | 48 mi |
| Kiryas Joel-Poughkeepsie-Newburgh, NY Personal Financial Advisors Salary | $160,790↑ 0% | 51 mi |
Comparing salaries near Bridgeport-Stamford-Danbury, CT
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Bridgeport-Stamford-Danbury, CT?
The median annual salary for a Personal Financial Advisors in Bridgeport-Stamford-Danbury, CT is $160,610. This typically ranges from $52,070 for entry-level positions to $240,915 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Bridgeport-Stamford-Danbury, CT is 0.2% higher than the national median of $160,360.
Is Bridgeport-Stamford-Danbury, CT a lucrative place for Personal Financial Advisors?
Yes, it is a highly lucrative area for Personal Financial Advisors.The average salary of $160,610 significantly exceeds the national average, and the cost of living is on par with the national average, indicating strong earning potential.
Is Bridgeport-Stamford-Danbury, CT a good place to live for Personal Financial Advisors?
The Cost of Living Index in Bridgeport-Stamford-Danbury, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Bridgeport-Stamford-Danbury, CT?
Some top paying nearby cities include New Haven, CT ($149,470) and Waterbury-Shelton, CT.
How does the local salary compare to the national average?
Personal Financial Advisors in Bridgeport-Stamford-Danbury, CT, earn an average of $160,610 annually, which is slightly higher than the national average of $160,360.
What is the concentration of Personal Financial Advisors in this area?
The Location Quotient of 2.89 indicates that Personal Financial Advisors are significantly more concentrated in Bridgeport-Stamford-Danbury, CT, than the national average.
How does the cost of living affect the salary?
The cost of living in Bridgeport-Stamford-Danbury, CT, is at the national average (100), meaning the $160,610 salary offers purchasing power equivalent to the national average.
What does the job market look like for this role in Bridgeport-Stamford-Danbury, CT?
The market is robust with a high concentration of Personal Financial Advisors, suggesting strong demand and numerous job opportunities within the local workforce of 2,040.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,040 employees in the Bridgeport-Stamford-Danbury, CT area with a job density of 5.072 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 Bridgeport-Stamford-Danbury, CT