Average Personal Financial Advisors Salary in Davenport-Moline-Rock Island, IA-IL
Personal Financial Advisors in the Davenport-Moline-Rock Island, IA-IL area earn an average annual salary of $147,880. This figure is slightly below the national average of $160,360, reflecting regional economic factors and the specific demand within this metropolitan area. The local job market dynamics and the concentration of financial services firms play a significant role in dictating this compensation.
Executive Summary
- Average Salary: $147,880 per year.
- Growth Trend: Salaries have shifted 26.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $221,820.
- Outlook: With a local workforce of 200 Personal Financial Advisors and a Location Quotient of 0.63, the job market in Davenport-Moline-Rock Island, IA-IL indicates a moderate level of concentration compared to national benchmarks. While not as densely populated with these professionals as the national average, the presence of 1.108 jobs per 1,000 workers suggests a stable, albeit not rapidly expanding, demand for their services within the region.
Salary Overview
The average Personal Financial Advisors in Davenport-Moline-Rock Island, IA-IL earns-7.8%below the national average.
$71.1
$2,844
$12,323
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for the Davenport-Moline-Rock Island, IA-IL area is not provided, it is generally assumed that salaries for Personal Financial Advisors have experienced steady growth over the past four years, mirroring national trends. This growth is typically driven by increasing demand for financial planning services, inflation adjustments, and the evolving complexity of financial markets, leading to incremental salary increases for experienced professionals.
Personal Financial Advisors Salary Distribution in Davenport-Moline-Rock Island, IA-IL
The salary range for Personal Financial Advisors in Davenport-Moline-Rock Island, IA-IL can vary significantly based on experience. Entry-level positions typically command lower salaries, while seasoned professionals with extensive client portfolios and a proven track record can earn considerably more. The percentile gaps in earnings clearly signify career progression, with senior advisors often reaching the upper echelons of the salary spectrum through accumulated expertise and client trust.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $54,240 | $26.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $110,910 | $53.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $93,120 | $44.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $184,850 | $88.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $221,820 | $106.6 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$147,880
Gross Pay
Real Wage (Purchasing Power)
$147,880
Adjusted for COL (100)
The nominal average salary of $147,880 in Davenport-Moline-Rock Island, IA-IL is particularly attractive when considered against the local Cost of Living Index of 100. This means that the purchasing power of an advisor's salary in this region is directly comparable to the national average, allowing for a similar standard of living without the financial strain often associated with higher-paying, high-cost-of-living metropolitan areas.
Job Market Context
200
Total Jobs
1.108
Per 1K Jobs
0.63
Location Quotient
Davenport-Moline-Rock Island, IA-IL has 0.63x 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 0.63 for Personal Financial Advisors in Davenport-Moline-Rock Island, IA-IL suggests that this profession is less concentrated locally than the national average. This could imply a less saturated job market, potentially offering more opportunities for skilled professionals to establish themselves, or it might indicate a lower overall demand compared to other regions. It suggests a market that is neither overly competitive nor exceptionally abundant in this specific role.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Iowa City, IA Personal Financial Advisors Salary | $114,230↓ 23% | 48 mi |
| Cedar Rapids, IA Personal Financial Advisors Salary | $127,150↓ 14% | 62 mi |
| Dubuque, IA Personal Financial Advisors Salary | $124,130↓ 16% | 65 mi |
| Peoria, IL Personal Financial Advisors Salary | $128,730↓ 13% | 76 mi |
| Rockford, IL Personal Financial Advisors Salary | $106,030↓ 28% | 93 mi |
Comparing salaries near Davenport-Moline-Rock Island, IA-IL
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Davenport-Moline-Rock Island, IA-IL?
The median annual salary for a Personal Financial Advisors in Davenport-Moline-Rock Island, IA-IL is $147,880. This typically ranges from $54,240 for entry-level positions to $221,820 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Davenport-Moline-Rock Island, IA-IL is 7.8% lower than the national median of $160,360.
Is Davenport-Moline-Rock Island, IA-IL a lucrative place for Personal Financial Advisorss?
Yes, with a caveat.The average salary of $147,880 is competitive, especially given the national average cost of living. However, it is slightly below the national average salary for the role.
Is Davenport-Moline-Rock Island, IA-IL a good place to live for Personal Financial Advisors?
The Cost of Living Index in Davenport-Moline-Rock Island, IA-IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Davenport-Moline-Rock Island, IA-IL?
Some top paying nearby cities include Iowa City, IA ($114,230) and Cedar Rapids, IA.
How does the Davenport-Moline-Rock Island, IA-IL salary compare to the national average?
The average salary for Personal Financial Advisors in Davenport-Moline-Rock Island, IA-IL is $147,880, which is approximately 7.8% lower than the national average of $160,360.
What is the significance of the Location Quotient (LQ) of 0.63?
An LQ of 0.63 means that Personal Financial Advisors are less concentrated in the Davenport-Moline-Rock Island, IA-IL area compared to the national average. This suggests a potentially less competitive market for these professionals.
How does the cost of living affect the Davenport-Moline-Rock Island, IA-IL salary?
With a Cost of Living Index of 100, the Davenport-Moline-Rock Island, IA-IL area has a cost of living that is exactly at the national average. This means the $147,880 salary offers purchasing power equivalent to the national average.
What is the total number of Personal Financial Advisors in Davenport-Moline-Rock Island, IA-IL?
The total local workforce for Personal Financial Advisors in the Davenport-Moline-Rock Island, IA-IL metropolitan area is estimated to be 200 individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 200 employees in the Davenport-Moline-Rock Island, IA-IL area with a job density of 1.108 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 Davenport-Moline-Rock Island, IA-IL