Average Personal Financial Advisors Salary in Elkhart-Goshen, IN
The average salary for Personal Financial Advisorss in Elkhart-Goshen, IN is $139,280. While this is lower than the national average, the cost of living in Elkhart-Goshen, IN may offset the difference, preserving real purchasing power.
Executive Summary
- Average Salary: $139,280 per year.
- Growth Trend: Salaries have shifted 63.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $208,920.
- Outlook: The current demand for Personal Financial Advisorss is stable, with a local workforce of approximately 90 professionals. This role remains a specialized component of the broader Elkhart-Goshen, IN economy.
Salary Overview
The average Personal Financial Advisors in Elkhart-Goshen, IN earns-13.1%below the national average.
$67
$2,678
$11,607
Personal Financial Advisors Salary Trends (2020-2024)
Over the past 3 years, Personal Financial Advisors salaries in Elkhart-Goshen, IN have experienced a rapid surge, growing by 63.0%. This positive trajectory often correlates with increased demand and a favorable future outlook for the profession.
Personal Financial Advisors Salary Distribution in Elkhart-Goshen, IN
The earning potential for Personal Financial Advisorss in Elkhart-Goshen, IN varies significantly by experience level. There is a substantial income gap, with top earners (90th percentile) making over 4.5x the starting salary. This indicates strong career progression opportunities. Entry-level roles (10th percentile) typically start around $46,000, while highly experienced professionals can command wages upwards of $208,920.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,000 | $22.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $104,460 | $50.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $101,340 | $48.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $174,100 | $83.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $208,920 | $100.4 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$139,280
Gross Pay
Real Wage (Purchasing Power)
$139,280
Adjusted for COL (100)
In Elkhart-Goshen, IN, the Cost of Living Index is 100. This increases your effective purchasing power from $139,280 to $139,280.
Job Market Context
90
Total Jobs
0.69
Per 1K Jobs
0.39
Location Quotient
At 0.39x, Elkhart-Goshen, IN has a notably lower concentration of Personal Financial Advisors jobs than the national average. Opportunities in this area are relatively scarce for this profession.
90 people work as Personal Financial Advisors in Elkhart-Goshen, IN.
Only 0.69 out of every 1,000 local jobs are Personal Financial Advisors roles — this is a niche profession in the area.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| South Bend-Mishawaka, IN-MI Personal Financial Advisors Salary | $126,420↓ 9% | 16 mi |
| Niles, MI Personal Financial Advisors Salary | $156,700↑ 13% | 18 mi |
| Kalamazoo-Portage, MI Personal Financial Advisors Salary | $157,250↑ 13% | 45 mi |
| Michigan City-La Porte, IN Personal Financial Advisors Salary | $89,190↓ 36% | 47 mi |
Comparing salaries near Elkhart-Goshen, IN
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Elkhart-Goshen, IN?
The median annual salary for a Personal Financial Advisors in Elkhart-Goshen, IN is $139,280. This typically ranges from $46,000 for entry-level positions to $208,920 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Elkhart-Goshen, IN is 13.1% lower than the national median of $160,360.
Is Elkhart-Goshen, IN a good place for Personal Financial Advisorss?
It depends on your priorities. While the average Personal Financial Advisors salary in Elkhart-Goshen, IN is $139,280 (below the national average), the area may offer a lower cost of living or other lifestyle benefits typical of Elkhart-Goshen, IN. See distinct detailed breakdown below.
Is Elkhart-Goshen, IN a good place to live for Personal Financial Advisors?
The Cost of Living Index in Elkhart-Goshen, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Elkhart-Goshen, IN?
Some top paying nearby cities include South Bend-Mishawaka, IN-MI ($126,420) and Niles, MI.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 90 employees in the Elkhart-Goshen, IN area with a job density of 0.69 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 Elkhart-Goshen, IN