Average Personal Financial Advisors Salary in Durham-Chapel Hill, NC
Personal Financial Advisors in the Durham-Chapel Hill, NC area earn an average annual salary of $87,340. This figure is notably lower than 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 cost of living significantly influence compensation levels for this profession.
Executive Summary
- Average Salary: $87,340 per year.
- Growth Trend: Salaries have shifted 30.8% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $130,500.
- Outlook: The Durham-Chapel Hill region supports a robust workforce of 1,810 Personal Financial Advisors, indicating a substantial presence in the local economy. With a Location Quotient of 3.02, this profession is significantly more concentrated here than the national average, suggesting strong local demand and a potentially competitive but opportunity-rich environment for financial advisory roles.
Salary Overview
The average Personal Financial Advisors in Durham-Chapel Hill, NC earns-45.5%below the national average.
$42
$1,680
$7,278
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for this role in Durham-Chapel Hill is not provided, it is generally assumed that salaries for Personal Financial Advisors have seen consistent growth over the past four years, mirroring national trends. Factors such as increasing demand for financial planning services, evolving market conditions, and inflation likely contribute to upward salary adjustments within the profession.
Personal Financial Advisors Salary Distribution in Durham-Chapel Hill, NC
Career progression for Personal Financial Advisors in Durham-Chapel Hill typically correlates with experience. Entry-level positions may start at the lower end of the salary spectrum, while seasoned professionals with a proven track record and specialized expertise can command significantly higher earnings. The percentile gaps in salary distribution clearly signify the opportunities for career advancement and increased earning potential as advisors gain experience and build their client base.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,530 | $22.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $65,505 | $31.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $61,530 | $29.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $109,175 | $52.5 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $130,500 | $62.7 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$87,340
Gross Pay
Real Wage (Purchasing Power)
$87,340
Adjusted for COL (100)
The average annual salary of $87,340 for Personal Financial Advisors in Durham-Chapel Hill aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal salary offers purchasing power equivalent to the national average, suggesting that the local cost of living does not significantly inflate or deflate the real value of this income compared to the rest of the country.
Job Market Context
1,810
Total Jobs
5.291
Per 1K Jobs
3.02
Location Quotient
Durham-Chapel Hill, NC has 3.0x the national concentration of Personal Financial Advisors jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
The Location Quotient of 3.02 for Personal Financial Advisors in Durham-Chapel Hill signifies a highly concentrated job market. This indicates that the area has a significantly higher proportion of these professionals compared to the national average, suggesting a strong demand for their services and a well-established industry presence, potentially leading to more specialized roles and opportunities.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Raleigh-Cary, NC Personal Financial Advisors Salary | $206,920↑ 137% | 18 mi |
| Burlington, NC Personal Financial Advisors Salary | $172,490↑ 97% | 32 mi |
| Greensboro-High Point, NC Personal Financial Advisors Salary | $163,350↑ 87% | 52 mi |
| Eastern North Carolina nonmetropolitan area Personal Financial Advisors Salary | $231,700↑ 165% | 56 mi |
Comparing salaries near Durham-Chapel Hill, NC
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Durham-Chapel Hill, NC?
The median annual salary for a Personal Financial Advisors in Durham-Chapel Hill, NC is $87,340. This typically ranges from $47,530 for entry-level positions to $130,500 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Durham-Chapel Hill, NC is 45.5% lower than the national median of $160,360.
Is Durham-Chapel Hill, NC a lucrative place for Personal Financial Advisors?
Yes, with caveats.While the average salary of $87,340 is below the national average, the high concentration (LQ of 3.02) and average cost of living suggest a stable and potentially rewarding market for experienced professionals.
Is Durham-Chapel Hill, NC a good place to live for Personal Financial Advisors?
The Cost of Living Index in Durham-Chapel Hill, NC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Durham-Chapel Hill, NC?
Some top paying nearby cities include Raleigh-Cary, NC ($206,920) and Burlington, NC.
How does the Durham-Chapel Hill salary compare to the national average?
The average salary for Personal Financial Advisors in Durham-Chapel Hill is $87,340, which is considerably lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Durham-Chapel Hill?
Durham-Chapel Hill has a high concentration of Personal Financial Advisors, with a Location Quotient of 3.02, meaning the profession is over three times more common there than the national average.
How does the cost of living affect the salary in Durham-Chapel Hill?
The Cost of Living Index in Durham-Chapel Hill is 100, which is the national average. This means the $87,340 salary has purchasing power equivalent to the national average.
What does the number of jobs per 1,000 workers indicate?
With 5.291 jobs per 1,000 workers, this indicates a healthy presence of Personal Financial Advisor roles within the local workforce, contributing to the overall 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 1,810 employees in the Durham-Chapel Hill, NC area with a job density of 5.291 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 Durham-Chapel Hill, NC