Average Personal Financial Advisors Salary in Columbus, OH
Personal Financial Advisors in Columbus, OH, earn an average annual salary of $102,320. This figure is notably below the national average of $160,360, suggesting that local market dynamics and demand play a significant role in compensation within this Ohio city. Factors such as the concentration of financial services firms and the overall economic landscape of Columbus contribute to this localized pay scale.
Executive Summary
- Average Salary: $102,320 per year.
- Growth Trend: Salaries have shifted 11.8% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $173,690.
- Outlook: The job market for Personal Financial Advisors in Columbus, OH, appears robust, with a total local workforce of 2,470 professionals. The Location Quotient of 1.3 indicates a higher concentration of these roles in Columbus compared to the national average, suggesting a strong and potentially growing demand for financial advisory services within the region.
Salary Overview
The average Personal Financial Advisors in Columbus, OH earns-36.2%below the national average.
$49.2
$1,968
$8,527
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 Columbus, OH, have experienced steady growth over the past four years, mirroring national trends. Economic expansion, increased demand for financial planning services, and inflation typically drive upward salary adjustments in professional fields.
Personal Financial Advisors Salary Distribution in Columbus, OH
The salary progression for Personal Financial Advisors in Columbus, OH, typically scales significantly with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with extensive client portfolios and specialized expertise can command salaries in the higher percentiles, reflecting a clear career growth trajectory and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $36,500 | $17.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $76,740 | $36.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $77,890 | $37.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $127,900 | $61.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $173,690 | $83.5 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$102,320
Gross Pay
Real Wage (Purchasing Power)
$102,320
Adjusted for COL (100)
With an average annual salary of $102,320 and a Cost of Living Index of 100, Personal Financial Advisors in Columbus, OH, find their nominal earnings align precisely with the national average cost of living. This means that the purchasing power of their salary in Columbus is equivalent to the national average, offering a stable financial environment for residents.
Job Market Context
2,470
Total Jobs
2.277
Per 1K Jobs
1.3
Location Quotient
With a location quotient of 1.30, Columbus, OH has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
The Location Quotient of 1.3 for Personal Financial Advisors in Columbus, OH, signifies that this profession is more concentrated in the area than the national average. This suggests a competitive yet abundant market, where opportunities may be plentiful, but professionals might also face more competition for top roles and clients.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| North Northeastern Ohio nonmetropolitan area (noncontiguous) Personal Financial Advisors Salary | $99,950↓ 2% | 32 mi |
| West Northwestern Ohio nonmetropolitan area Personal Financial Advisors Salary | $111,660↑ 9% | 32 mi |
| Eastern Ohio nonmetropolitan area Personal Financial Advisors Salary | $121,520↑ 19% | 32 mi |
| Southern Ohio nonmetropolitan area Personal Financial Advisors Salary | $94,840↓ 7% | 32 mi |
Comparing salaries near Columbus, OH
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Columbus, OH?
The median annual salary for a Personal Financial Advisors in Columbus, OH is $102,320. This typically ranges from $36,500 for entry-level positions to $173,690 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Columbus, OH is 36.2% lower than the national median of $160,360.
Is Columbus, OH a lucrative place for Personal Financial Advisors?
Yes, it offers a competitive salary relative to its cost of living.While the average salary of $102,320 is below the national average, it aligns perfectly with the national average cost of living (100 index). This indicates strong purchasing power for advisors in the region.
Is Columbus, OH a good place to live for Personal Financial Advisors?
The Cost of Living Index in Columbus, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Columbus, OH?
Some top paying nearby cities include North Northeastern Ohio nonmetropolitan area (noncontiguous) ($99,950) and West Northwestern Ohio nonmetropolitan area.
How does the Columbus salary compare to the national average?
The average salary for Personal Financial Advisors in Columbus, OH, is $102,320, which is significantly lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Columbus, OH?
Columbus, OH has a Location Quotient of 1.3 for Personal Financial Advisors, indicating a higher concentration of these professionals compared to the national average.
How does the cost of living in Columbus affect salary perception?
The Cost of Living Index in Columbus is 100, matching the national average. This means the $102,320 salary offers purchasing power equivalent to the national average, making it a stable financial environment.
What is the total number of Personal Financial Advisors in Columbus, OH?
There are approximately 2,470 Personal Financial Advisors working in Columbus, OH.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,470 employees in the Columbus, OH area with a job density of 2.277 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 Columbus, OH