Average Personal Financial Advisors Salary in Cedar Rapids, IA
Personal Financial Advisors in Cedar Rapids, IA, earn an average annual salary of $127,150. This figure is notably below the national average of $160,360, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation levels within this Midwestern city.
Executive Summary
- Average Salary: $127,150 per year.
- Growth Trend: Salaries have shifted 150.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $190,725.
- Outlook: With a total local workforce of 260 Personal Financial Advisors, Cedar Rapids presents a stable, albeit not exceptionally large, employment landscape for this profession. The Location Quotient of 1.05 indicates a concentration of these roles that is slightly above the national average, suggesting a consistent, steady demand for financial advisory services within the region.
Salary Overview
The average Personal Financial Advisors in Cedar Rapids, IA earns-20.7%below the national average.
$61.1
$2,445
$10,596
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Personal Financial Advisors in Cedar Rapids have experienced moderate growth over the past four years, mirroring national trends. Factors such as increasing demand for financial planning, evolving market conditions, and the general economic climate likely contribute to a positive, albeit potentially modest, upward trajectory in compensation.
Personal Financial Advisors Salary Distribution in Cedar Rapids, IA
The salary range for Personal Financial Advisors in Cedar Rapids, IA, typically widens significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with a proven track record and specialized expertise can command salaries in the upper percentiles, reflecting the value of their accumulated knowledge and client base.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,280 | $22.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $95,363 | $45.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,920 | $38.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $158,938 | $76.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $190,725 | $91.7 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$127,150
Gross Pay
Real Wage (Purchasing Power)
$127,150
Adjusted for COL (100)
The average annual salary of $127,150 in Cedar Rapids, IA, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Personal Financial Advisor's income in Cedar Rapids is equivalent to the national average, offering a stable financial standing without the premium often associated with higher cost-of-living areas.
Job Market Context
260
Total Jobs
1.844
Per 1K Jobs
1.05
Location Quotient
With a location quotient of 1.05, Cedar Rapids, IA has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
A Location Quotient of 1.05 for Personal Financial Advisors in Cedar Rapids signifies a job market that is very close to the national average in terms of concentration. This suggests that the demand for these professionals is balanced with the supply, indicating a competitive yet accessible market for both new entrants and experienced advisors looking to establish or advance their careers in the area.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Iowa City, IA Personal Financial Advisors Salary | $114,230↓ 10% | 23 mi |
| Waterloo-Cedar Falls, IA Personal Financial Advisors Salary | $112,300↓ 12% | 50 mi |
| Dubuque, IA Personal Financial Advisors Salary | $124,130↓ 2% | 62 mi |
| Davenport-Moline-Rock Island, IA-IL Personal Financial Advisors Salary | $147,880↑ 16% | 62 mi |
| Southeast Iowa nonmetropolitan area Personal Financial Advisors Salary | $181,720↑ 43% | 79 mi |
Comparing salaries near Cedar Rapids, IA
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Cedar Rapids, IA?
The median annual salary for a Personal Financial Advisors in Cedar Rapids, IA is $127,150. This typically ranges from $47,280 for entry-level positions to $190,725 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Cedar Rapids, IA is 20.7% lower than the national median of $160,360.
Is Cedar Rapids, IA a lucrative place for Personal Financial Advisors?
Yes, it offers average national purchasing power.While the nominal salary is below the national average, Cedar Rapids' Cost of Living Index matching the national average means your $127,150 salary offers equivalent purchasing power. The slightly above-average concentration of advisors also suggests steady demand.
Is Cedar Rapids, IA a good place to live for Personal Financial Advisors?
The Cost of Living Index in Cedar Rapids, IA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Cedar Rapids, IA?
Some top paying nearby cities include Iowa City, IA ($114,230) and Waterloo-Cedar Falls, IA.
How does Cedar Rapids compare to other Iowa cities for Personal Financial Advisor salaries?
Without specific data for other Iowa cities, it's difficult to make a direct comparison. However, Cedar Rapids' average salary of $127,150 and a national average Cost of Living Index suggest it offers a competitive financial environment relative to the state and national averages.
What are the key factors influencing Personal Financial Advisor salaries in Cedar Rapids?
Salaries are influenced by experience level, client portfolio size, specialization (e.g., retirement planning, investment management), firm size, and the overall economic health of the Cedar Rapids region.
What is the job outlook for Personal Financial Advisors in Cedar Rapids?
The job outlook appears stable, with a Location Quotient slightly above the national average indicating consistent demand. The total workforce size suggests a mature market with ongoing opportunities.
Does Cedar Rapids have a high concentration of Personal Financial Advisors compared to the nation?
Yes, Cedar Rapids has a Location Quotient of 1.05, which is slightly higher than the national average of 1.0. This indicates a marginally greater presence of Personal Financial Advisors per worker in Cedar Rapids compared to the rest of the United States.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Cedar Rapids, IA area with a job density of 1.844 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 Cedar Rapids, IA