Average Personal Financial Advisors Salary in Hartford-West Hartford-East Hartford, CT
Personal Financial Advisors in Hartford-West Hartford-East Hartford, CT, earn an average annual salary of $124,440. This figure is notably below the national average of $160,360, suggesting that local market dynamics, such as industry concentration and demand, play a significant role in compensation levels within this Connecticut metropolitan area.
Executive Summary
- Average Salary: $124,440 per year.
- Growth Trend: Salaries have shifted 3.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $216,590.
- Outlook: With a local workforce of 1,030 Personal Financial Advisors, the Hartford-West Hartford-East Hartford area demonstrates a stable, albeit not exceptionally concentrated, presence of these professionals. The Location Quotient of 0.99 indicates that the concentration of these roles is nearly on par with the national average, suggesting a balanced demand and supply within the region.
Salary Overview
The average Personal Financial Advisors in Hartford-West Hartford-East Hartford, CT earns-22.4%below the national average.
$59.8
$2,393
$10,370
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that Personal Financial Advisor salaries in Hartford-West Hartford-East Hartford have experienced growth over the past four years, mirroring national trends. Factors such as evolving financial markets, increased demand for personalized financial planning, and inflation likely contribute to a steady upward trajectory in compensation for experienced professionals in this field.
Personal Financial Advisors Salary Distribution in Hartford-West Hartford-East Hartford, CT
Salary progression for Personal Financial Advisors in Hartford-West Hartford-East Hartford typically scales significantly with experience. Entry-level positions might start closer to the lower percentiles, while seasoned advisors with extensive client bases and specialized expertise can command salaries well into the upper percentiles. The widening gap between entry-level and senior roles highlights the substantial earning potential tied to career advancement and demonstrated success in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $52,900 | $25.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $93,330 | $44.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $83,760 | $40.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $155,550 | $74.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $216,590 | $104.1 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$124,440
Gross Pay
Real Wage (Purchasing Power)
$124,440
Adjusted for COL (100)
The average annual salary of $124,440 for Personal Financial Advisors in Hartford-West Hartford-East Hartford aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of this salary is equivalent to the national average, offering a stable financial standing for advisors residing in this Connecticut locale.
Job Market Context
1,030
Total Jobs
1.743
Per 1K Jobs
0.99
Location Quotient
Hartford-West Hartford-East Hartford, CT has 0.99x 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.
The Location Quotient of 0.99 for Personal Financial Advisors in Hartford-West Hartford-East Hartford suggests a job market that is very close to the national average in terms of concentration. This indicates a competitive but not overly saturated environment, where the demand for skilled financial advisors is consistent with national patterns, offering steady opportunities for qualified professionals.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Connecticut nonmetropolitan area Personal Financial Advisors Salary | $114,670↓ 8% | 12 mi |
| Waterbury-Shelton, CT Personal Financial Advisors Salary | $157,260↑ 26% | 23 mi |
| Springfield, MA Personal Financial Advisors Salary | $160,510↑ 29% | 25 mi |
| New Haven, CT Personal Financial Advisors Salary | $149,470↑ 20% | 34 mi |
| Norwich-New London-Willimantic, CT Personal Financial Advisors Salary | $113,020↓ 9% | 34 mi |
Comparing salaries near Hartford-West Hartford-East Hartford, CT
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Hartford-West Hartford-East Hartford, CT?
The median annual salary for a Personal Financial Advisors in Hartford-West Hartford-East Hartford, CT is $124,440. This typically ranges from $52,900 for entry-level positions to $216,590 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Hartford-West Hartford-East Hartford, CT is 22.4% lower than the national median of $160,360.
Is Hartford-West Hartford-East Hartford, CT a lucrative place for Personal Financial Advisors?
Yes, it offers a stable earning potential.While the average salary of $124,440 is below the national average, the cost of living is also at the national average, making the effective purchasing power comparable. The market concentration is also stable, indicating consistent demand.
Is Hartford-West Hartford-East Hartford, CT a good place to live for Personal Financial Advisors?
The Cost of Living Index in Hartford-West Hartford-East Hartford, CT is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Hartford-West Hartford-East Hartford, CT?
Some top paying nearby cities include Connecticut nonmetropolitan area ($114,670) and Waterbury-Shelton, CT.
How does the local salary compare to the national average?
Personal Financial Advisors in Hartford-West Hartford-East Hartford earn an average of $124,440 annually, which is lower than the national average of $160,360.
What is the cost of living in Hartford-West Hartford-East Hartford, CT?
The cost of living index in Hartford-West Hartford-East Hartford, CT is 100, which is exactly the national average.
How many Personal Financial Advisors work in the Hartford area?
There are approximately 1,030 Personal Financial Advisors employed in the Hartford-West Hartford-East Hartford, CT metropolitan area.
Is the job market for Personal Financial Advisors strong in Hartford?
The job market is stable, with a Location Quotient of 0.99 indicating a concentration of these roles very close to the national average, suggesting balanced demand and supply.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,030 employees in the Hartford-West Hartford-East Hartford, CT area with a job density of 1.743 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 Hartford-West Hartford-East Hartford, CT