Average Personal Financial Advisors Salary in Des Moines-West Des Moines, IA
Personal Financial Advisors in Des Moines-West Des Moines, IA, earn an average annual salary of $130,570. This figure is notably below the national average of $160,360, reflecting regional economic factors and the specific demand within the local market. While lower than the national benchmark, this salary is influenced by the unique economic landscape and industry concentration in the Des Moines metropolitan area.
Executive Summary
- Average Salary: $130,570 per year.
- Growth Trend: Salaries have shifted 30.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $195,855.
- Outlook: The Des Moines-West Des Moines, IA, job market for Personal Financial Advisors appears robust, with a total local workforce of 1,020 professionals. The Location Quotient of 1.43 indicates a higher concentration of these roles compared to the national average, suggesting a steady demand and a well-established presence of financial advisory services within the region.
Salary Overview
The average Personal Financial Advisors in Des Moines-West Des Moines, IA earns-18.6%below the national average.
$62.8
$2,511
$10,881
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the Personal Financial Advisor sector in Des Moines-West Des Moines, IA, has experienced consistent growth over the past four years. This growth is likely driven by an increasing need for financial planning services among the local population and businesses, potentially leading to a gradual increase in average salaries and job opportunities.
Personal Financial Advisors Salary Distribution in Des Moines-West Des Moines, IA
Career progression for Personal Financial Advisors in Des Moines-West Des Moines, IA, significantly impacts earning potential. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with extensive experience and a proven track record can command salaries well above the average. The percentile gaps in earnings clearly signify the career advancement and increased responsibility associated with senior advisory roles.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,850 | $24 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $97,928 | $47.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $90,290 | $43.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $163,213 | $78.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $195,855 | $94.2 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$130,570
Gross Pay
Real Wage (Purchasing Power)
$130,570
Adjusted for COL (100)
The nominal average salary of $130,570 for Personal Financial Advisors in Des Moines-West Des Moines, IA, is particularly attractive when considered against the local Cost of Living Index of 100, which is precisely the national average. This means that the purchasing power of an advisor's salary in this area is equivalent to the national standard, making it a financially stable location for professionals.
Job Market Context
1,020
Total Jobs
2.515
Per 1K Jobs
1.43
Location Quotient
With a location quotient of 1.43, Des Moines-West Des Moines, IA has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
With a Location Quotient of 1.43, Des Moines-West Des Moines, IA, demonstrates a concentration of Personal Financial Advisors that is 43% higher than the national average. This suggests a competitive yet accessible job market where demand for financial expertise is strong, offering ample opportunities for both new entrants and experienced professionals to establish or advance their careers.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Ames, IA Personal Financial Advisors Salary | $117,320↓ 10% | 31 mi |
| Southeast Iowa nonmetropolitan area Personal Financial Advisors Salary | $181,720↑ 39% | 37 mi |
| Northwest Iowa nonmetropolitan area Personal Financial Advisors Salary | $109,560↓ 16% | 37 mi |
| Northeast Iowa nonmetropolitan area Personal Financial Advisors Salary | $119,250↓ 9% | 37 mi |
| Southwest Iowa nonmetropolitan area Personal Financial Advisors Salary | $96,690↓ 26% | 37 mi |
Comparing salaries near Des Moines-West Des Moines, IA
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Des Moines-West Des Moines, IA?
The median annual salary for a Personal Financial Advisors in Des Moines-West Des Moines, IA is $130,570. This typically ranges from $49,850 for entry-level positions to $195,855 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Des Moines-West Des Moines, IA is 18.6% lower than the national median of $160,360.
Is Des Moines-West Des Moines, IA a lucrative place for Personal Financial Advisors?
Yes, it offers strong earning potential relative to its cost of living.The average salary of $130,570, combined with a cost of living index at the national average (100), indicates that professionals can maintain a comfortable lifestyle. Furthermore, the higher-than-average concentration of these roles (LQ 1.43) suggests a healthy demand.
Is Des Moines-West Des Moines, IA a good place to live for Personal Financial Advisors?
The Cost of Living Index in Des Moines-West Des Moines, IA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Des Moines-West Des Moines, IA?
Some top paying nearby cities include Ames, IA ($117,320) and Southeast Iowa nonmetropolitan area.
How does the Des Moines salary compare to the national average?
The average salary for Personal Financial Advisors in Des Moines-West Des Moines, IA, is $130,570, which is lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Des Moines-West Des Moines, IA?
The concentration, measured by the Location Quotient, is 1.43, indicating that this profession is 43% more prevalent in Des Moines-West Des Moines, IA, than the national average.
How does the cost of living in Des Moines-West Des Moines, IA affect salary perception?
With a Cost of Living Index of 100, matching the national average, the $130,570 salary in Des Moines-West Des Moines, IA, offers purchasing power equivalent to the national standard, making it a stable financial environment.
What does the number of Personal Financial Advisors in Des Moines-West Des Moines, IA suggest?
A local workforce of 1,020 Personal Financial Advisors indicates a substantial and established professional community within the region, supporting a consistent demand for these services.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,020 employees in the Des Moines-West Des Moines, IA area with a job density of 2.515 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 Des Moines-West Des Moines, IA