Average Personal Financial Advisors Salary in Charleston-North Charleston, SC
In Charleston-North Charleston, SC, Personal Financial Advisors earn an average annual salary of $139,840. 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 region.
Executive Summary
- Average Salary: $139,840 per year.
- Growth Trend: Salaries have shifted 67.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $209,760.
- Outlook: The Charleston-North Charleston area supports a local workforce of 350 Personal Financial Advisors. With a Location Quotient of 0.51, the concentration of these professionals is below the national average, indicating a less saturated market relative to other areas. The presence of 0.894 jobs per 1,000 workers suggests a steady, albeit not exceptionally high, demand for these services.
Salary Overview
The average Personal Financial Advisors in Charleston-North Charleston, SC earns-12.8%below the national average.
$67.2
$2,689
$11,653
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Charleston-North Charleston is not provided, it is generally assumed that the field of personal financial advising has experienced consistent salary growth over the past four years nationally, driven by increasing demand for financial planning services and evolving market conditions. This trend is likely reflected, to some degree, in the local compensation landscape.
Personal Financial Advisors Salary Distribution in Charleston-North Charleston, SC
The salary trajectory for Personal Financial Advisors typically scales significantly with experience. Entry-level positions may start considerably lower than the average, while seasoned professionals with extensive client portfolios and specialized expertise can command salaries well above the $139,840 mark. The percentile gaps in earnings clearly signify the career progression and earning potential available within this profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $58,080 | $27.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $104,880 | $50.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $99,330 | $47.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $174,800 | $84 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $209,760 | $100.8 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$139,840
Gross Pay
Real Wage (Purchasing Power)
$139,840
Adjusted for COL (100)
The average annual salary of $139,840 in Charleston-North Charleston aligns perfectly with the local Cost of Living Index of 100, which is equivalent to the national average. This means that the purchasing power of a Personal Financial Advisor's salary in this region is comparable to the national standard, offering a stable financial environment for residents.
Job Market Context
350
Total Jobs
0.894
Per 1K Jobs
0.51
Location Quotient
Charleston-North Charleston, SC has 0.51x 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.
A Location Quotient of 0.51 for Personal Financial Advisors in Charleston-North Charleston indicates that the concentration of these professionals is approximately half that of the national average. This suggests that while the market is not as densely populated with advisors as some other regions, there is still a consistent presence and demand for their services, offering a balanced competitive landscape.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Hilton Head Island-Bluffton-Port Royal, SC Personal Financial Advisors Salary | $123,120↓ 12% | 63 mi |
| Myrtle Beach-Conway-North Myrtle Beach, SC Personal Financial Advisors Salary | $152,290↑ 9% | 88 mi |
| Savannah, GA Personal Financial Advisors Salary | $148,780↑ 6% | 89 mi |
Comparing salaries near Charleston-North Charleston, SC
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Charleston-North Charleston, SC?
The median annual salary for a Personal Financial Advisors in Charleston-North Charleston, SC is $139,840. This typically ranges from $58,080 for entry-level positions to $209,760 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Charleston-North Charleston, SC is 12.8% lower than the national median of $160,360.
Is Charleston-North Charleston, SC a lucrative place for Personal Financial Advisors?
No, not exceptionally lucrative compared to the national average.While the average salary of $139,840 is substantial, it falls below the national average of $160,360. However, the cost of living is on par with the national average, making the salary's purchasing power comparable.
Is Charleston-North Charleston, SC a good place to live for Personal Financial Advisors?
The Cost of Living Index in Charleston-North Charleston, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Charleston-North Charleston, SC?
Some top paying nearby cities include Hilton Head Island-Bluffton-Port Royal, SC ($123,120) and Myrtle Beach-Conway-North Myrtle Beach, SC.
How does the local salary compare to the national average?
The average salary for Personal Financial Advisors in Charleston-North Charleston, SC is $139,840, which is lower than the national average of $160,360.
What is the cost of living in Charleston-North Charleston, SC for Personal Financial Advisors?
The Cost of Living Index in Charleston-North Charleston, SC is 100, which is exactly the national average, indicating that the cost of goods and services is comparable to the rest of the country.
How concentrated is the Personal Financial Advisor job market in Charleston-North Charleston, SC?
The market concentration, measured by the Location Quotient, is 0.51, meaning it is less concentrated than the national average. This suggests fewer advisors relative to the general workforce compared to the national benchmark.
What is the total number of Personal Financial Advisors in Charleston-North Charleston, SC?
There are approximately 350 Personal Financial Advisors employed in the Charleston-North Charleston, SC metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 350 employees in the Charleston-North Charleston, SC area with a job density of 0.894 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 Charleston-North Charleston, SC