Average Personal Financial Advisors Salary in Columbia, SC
Personal Financial Advisors in Columbia, SC, earn an average annual salary of $153,000. This figure is slightly below the national average of $160,360, indicating a localized compensation structure influenced by regional economic factors and demand within the South Carolina market. While not reaching the national benchmark, this salary reflects the specialized skills and responsibilities inherent in financial advisory roles within the area.
Executive Summary
- Average Salary: $153,000 per year.
- Growth Trend: Salaries have shifted 33.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $229,500.
- Outlook: The Personal Financial Advisor job market in Columbia, SC, comprises a workforce of 410 professionals. With a Location Quotient of 0.61, the concentration of these roles is below the national average, suggesting a less saturated but potentially growing market. The presence of 1.063 jobs per 1,000 workers indicates a steady, albeit not exceptionally high, demand for financial advisory services within the local economy.
Salary Overview
The average Personal Financial Advisors in Columbia, SC earns-4.6%below the national average.
$73.6
$2,942
$12,750
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Columbia, SC, is not provided, it is generally assumed that salaries for Personal Financial Advisors nationwide have experienced consistent growth over the past four years, driven by increasing demand for financial planning services and inflation. This upward trend is likely mirrored, to some extent, in the Columbia market, reflecting broader economic shifts and the evolving needs of individuals and businesses for expert financial guidance.
Personal Financial Advisors Salary Distribution in Columbia, SC
Salary progression for Personal Financial Advisors in Columbia, SC, typically correlates strongly with experience and specialization. Entry-level positions might start at a lower percentile, while seasoned professionals with established client bases and advanced certifications can command significantly higher earnings, potentially reaching the upper percentiles. The widening gap between entry-level and senior salaries signifies substantial career growth opportunities and the value placed on expertise and client retention within the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,360 | $24.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $114,750 | $55.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $100,330 | $48.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $191,250 | $91.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $229,500 | $110.3 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$153,000
Gross Pay
Real Wage (Purchasing Power)
$153,000
Adjusted for COL (100)
The average annual salary of $153,000 in Columbia, SC, 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 Columbia is equivalent to the national average, providing a stable financial foundation without the added pressure of a higher cost of living impacting disposable income.
Job Market Context
410
Total Jobs
1.063
Per 1K Jobs
0.61
Location Quotient
Columbia, SC has 0.61x 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 0.61 for Personal Financial Advisors in Columbia, SC, signifies that the profession is less concentrated locally compared to the national average. This suggests that while the demand exists, the market is not oversaturated with professionals in this field. It presents an opportunity for advisors to establish themselves, though the lower concentration might also indicate fewer large firms or a more niche local demand for these services.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Northeastern South Carolina nonmetropolitan area Personal Financial Advisors Salary | $127,300↓ 17% | 13 mi |
| Florence, SC Personal Financial Advisors Salary | $125,430↓ 18% | 64 mi |
Comparing salaries near Columbia, SC
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Columbia, SC?
The median annual salary for a Personal Financial Advisors in Columbia, SC is $153,000. This typically ranges from $51,360 for entry-level positions to $229,500 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Columbia, SC is 4.6% lower than the national median of $160,360.
Is Columbia, SC a lucrative place for Personal Financial Advisors?
Yes, it offers a stable financial environment for Personal Financial Advisors.The average salary of $153,000 aligns with the national average cost of living, ensuring good purchasing power. While the salary is slightly below the national average for the role, the stable cost of living makes it a financially sound location.
Is Columbia, SC a good place to live for Personal Financial Advisors?
The Cost of Living Index in Columbia, SC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Columbia, SC?
Some top paying nearby cities include Northeastern South Carolina nonmetropolitan area ($127,300) and Florence, SC.
How does the Columbia, SC salary compare to the national average?
The average salary for Personal Financial Advisors in Columbia, SC, is $153,000, which is slightly lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Columbia, SC?
The concentration, measured by the Location Quotient, is 0.61, indicating that the profession is less common in Columbia compared to the national average.
How does the cost of living affect the salary in Columbia, SC?
Columbia, SC, has a Cost of Living Index of 100, which is the national average. This means the $153,000 salary offers purchasing power equivalent to the national average.
What is the total number of Personal Financial Advisors in Columbia, SC?
There are approximately 410 Personal Financial Advisors working in Columbia, SC.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 410 employees in the Columbia, SC area with a job density of 1.063 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 Columbia, SC