Average Personal Financial Advisors Salary in Evansville, IN
Personal Financial Advisors in Evansville, IN, earn an average annual salary of $133,020. 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 specific region. Factors such as the concentration of financial services firms and the overall economic landscape of Evansville contribute to this pay differential.
Executive Summary
- Average Salary: $133,020 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $199,530.
- Outlook: With a local workforce of 250 Personal Financial Advisors and a Location Quotient of 1.05, Evansville presents a stable, albeit slightly above average, concentration of these professionals. The job market appears robust enough to support this workforce, indicating consistent demand for financial advisory services within the community. While not a major hub, the steady presence suggests a healthy and sustainable employment environment for this role.
Salary Overview
The average Personal Financial Advisors in Evansville, IN earns-17.0%below the national average.
$64
$2,558
$11,085
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Evansville is not provided, it is reasonable to assume that Personal Financial Advisor salaries in the region have seen a gradual upward trend over the past four years, mirroring national patterns. Economic growth, increasing demand for financial planning, and inflation typically drive salary increases in most professional fields, including financial advising.
Personal Financial Advisors Salary Distribution in Evansville, IN
The salary trajectory for Personal Financial Advisors in Evansville, IN, typically escalates with experience. Entry-level positions might start significantly lower than the average, while seasoned professionals with extensive client portfolios and specialized expertise can command salaries well above the $133,020 average. The percentile gaps in earnings clearly signify the career progression and earning potential available as advisors advance in their careers.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $46,130 | $22.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $99,765 | $48 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $81,860 | $39.4 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $166,275 | $79.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $199,530 | $95.9 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$133,020
Gross Pay
Real Wage (Purchasing Power)
$133,020
Adjusted for COL (100)
The average annual salary of $133,020 for Personal Financial Advisors in Evansville aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an Evansville-based advisor's salary is equivalent to that of an advisor earning the national average in a location with average living expenses. Consequently, the nominal salary offers a standard lifestyle relative to national benchmarks.
Job Market Context
250
Total Jobs
1.844
Per 1K Jobs
1.05
Location Quotient
With a location quotient of 1.05, Evansville, IN has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
A Location Quotient of 1.05 indicates that Personal Financial Advisors are slightly more concentrated in Evansville, IN, than the national average. This suggests a moderately competitive market where demand is present and slightly outpaces the national distribution of these professionals. While not a saturated market, the slightly higher concentration implies a healthy presence of advisory services catering to the local population.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Paducah, KY-IL Personal Financial Advisors Salary | $96,000↓ 28% | 88 mi |
| Bowling Green, KY Personal Financial Advisors Salary | $81,920↓ 38% | 92 mi |
| Bloomington, IN Personal Financial Advisors Salary | $118,490↓ 11% | 98 mi |
Comparing salaries near Evansville, IN
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Evansville, IN?
The median annual salary for a Personal Financial Advisors in Evansville, IN is $133,020. This typically ranges from $46,130 for entry-level positions to $199,530 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Evansville, IN is 17.0% lower than the national median of $160,360.
Is Evansville, IN a lucrative place for Personal Financial Advisors?
Yes, with caveats. While the average salary is below the national average, the cost of living is also at the national average, making the effective purchasing power comparable.The average salary of $133,020 is competitive when considering the Cost of Living Index of 100. The slightly above-average concentration (LQ of 1.05) also suggests a stable demand for these services.
Is Evansville, IN a good place to live for Personal Financial Advisors?
The Cost of Living Index in Evansville, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Evansville, IN?
Some top paying nearby cities include Paducah, KY-IL ($96,000) and Bowling Green, KY.
How does the Evansville salary compare to the national average?
Personal Financial Advisors in Evansville earn an average of $133,020 annually, which is less than the national average of $160,360.
What is the Cost of Living in Evansville, IN?
Evansville, IN has a Cost of Living Index of 100, which is exactly the national average.
How many Personal Financial Advisors work in Evansville, IN?
There are approximately 250 Personal Financial Advisors employed in Evansville, IN.
Is the job market for Personal Financial Advisors strong in Evansville?
With a Location Quotient of 1.05, the market is slightly more concentrated than the national average, indicating a stable and present demand for financial advisors.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Evansville, IN area with a job density of 1.844 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 Evansville, IN