Average Personal Financial Advisors Salary in California
Personal Financial Advisors in California earn an impressive average annual salary of $170,480, significantly exceeding the national average of $160,360. This elevated compensation is largely driven by California's robust economy, high demand for financial expertise, and the state's generally higher cost of living, which necessitates greater remuneration for professionals.
Executive Summary
- Average Salary: $170,480 per year.
- Growth Trend: Salaries have shifted 35.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $255,720.
- Outlook: With a substantial local workforce of 34,070 Personal Financial Advisors, California demonstrates a significant concentration of these professionals, as indicated by a Location Quotient of 1.08. This suggests that the demand for financial advisory services is at least on par with, and slightly above, the national average, indicating a stable and robust job market for those in this field within the state.
Salary Overview
The average Personal Financial Advisors in California earns+6.3%above the national average.
$82
$3,278
$14,207
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Personal Financial Advisors in California have experienced consistent growth over the past four years. Factors such as increasing demand for financial planning services, evolving market conditions, and inflation typically contribute to an upward trend in compensation for experienced professionals in this sector.
Personal Financial Advisors Salary Distribution in California
The career trajectory for Personal Financial Advisors in California typically shows a significant salary increase with experience. Entry-level positions may start at a lower percentile, but as advisors gain experience, build client bases, and achieve higher levels of certification or specialization, their earning potential can climb substantially, with senior roles commanding top-tier compensation reflecting their expertise and proven track record.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $65,990 | $31.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $127,860 | $61.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $128,650 | $61.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $213,100 | $102.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $255,720 | $122.9 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$170,480
Gross Pay
Real Wage (Purchasing Power)
$123,090
Adjusted for COL (138.5)
While the nominal average salary of $170,480 in California is attractive, it's crucial to consider the state's Cost of Living Index of 138.5. This means that everyday expenses are approximately 38.5% higher than the national average. Therefore, while the salary is high, the purchasing power needs careful evaluation against the elevated cost of housing, goods, and services across the state.
Job Market Context
34,070
Total Jobs
1.887
Per 1K Jobs
1.08
Location Quotient
With a location quotient of 1.08, California has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
California's Location Quotient of 1.08 for Personal Financial Advisors indicates a job market that is slightly more concentrated than the national average. This suggests that while the demand is robust, the supply of professionals is also relatively high, leading to a competitive yet stable employment landscape where skilled advisors can thrive.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Visalia, CA Personal Financial Advisors Salary | $121,700↓ 29% | 25 mi |
| Fresno, CA Personal Financial Advisors Salary | $130,050↓ 24% | 46 mi |
| Bakersfield-Delano, CA Personal Financial Advisors Salary | $131,380↓ 23% | 64 mi |
| San Luis Obispo-Paso Robles, CA Personal Financial Advisors Salary | $123,880↓ 27% | 81 mi |
Comparing salaries near California
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in California?
The median annual salary for a Personal Financial Advisors in California is $170,480. This typically ranges from $65,990 for entry-level positions to $255,720 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in California is 6.3% higher than the national median of $160,360.
Is California a lucrative place for Personal Financial Advisors?
Yes, California is a highly lucrative state for Personal Financial Advisors.The average salary of $170,480 significantly surpasses the national average, and the slightly higher concentration of professionals suggests strong market demand.
Is California a good place to live for Personal Financial Advisors?
The Cost of Living Index in California is 138.5. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near California?
Some top paying nearby cities include Visalia, CA ($121,700) and Fresno, CA.
How does California's average salary compare to the national average?
Personal Financial Advisors in California earn an average of $170,480 annually, which is over $10,000 more than the national average of $160,360.
What is the job concentration for Personal Financial Advisors in California?
California has a Location Quotient of 1.08 for Personal Financial Advisors, indicating a slightly higher concentration of these professionals compared to the national average.
How does the cost of living affect the salary in California?
With a Cost of Living Index of 138.5, California is significantly more expensive than the national average, meaning the higher salary is partially offset by increased living expenses.
What is the total number of Personal Financial Advisors in California?
There are approximately 34,070 Personal Financial Advisors employed in California, reflecting a substantial professional base within the state.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 34,070 employees in the California area with a job density of 1.887 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 California