Average Personal Financial Advisors Salary in Indianapolis-Carmel-Greenwood, IN
Personal Financial Advisors in the Indianapolis-Carmel-Greenwood, IN area earn an impressive average annual salary of $189,370. This figure significantly surpasses the national average of $160,360, indicating a strong demand and potentially higher value placed on financial advisory services within this metropolitan region. Local economic factors and a concentrated professional landscape likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $189,370 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $284,055.
- Outlook: With a local workforce of 2,670 Personal Financial Advisors and a Location Quotient of 1.39, the Indianapolis-Carmel-Greenwood area demonstrates a robust job market for this profession. The LQ exceeding 1.0 signifies a higher concentration of these roles compared to the national average, suggesting a healthy and potentially growing demand for skilled financial advisors in the region.
Salary Overview
The average Personal Financial Advisors in Indianapolis-Carmel-Greenwood, IN earns+18.1%above the national average.
$91
$3,642
$15,781
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the Personal Financial Advisor role in Indianapolis-Carmel-Greenwood has experienced steady salary growth over the past four years, mirroring national trends. Factors such as increasing demand for financial planning services, evolving market conditions, and inflation typically drive upward salary adjustments for experienced professionals in this field.
Personal Financial Advisors Salary Distribution in Indianapolis-Carmel-Greenwood, IN
Salary progression for Personal Financial Advisors in Indianapolis-Carmel-Greenwood typically scales with experience. Entry-level positions will command lower salaries, while seasoned professionals with extensive client portfolios and a proven track record can expect to earn significantly more. The variance between the lower and upper salary percentiles highlights the substantial career growth and earning potential available as advisors advance.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $50,580 | $24.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $142,028 | $68.3 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $106,730 | $51.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $236,713 | $113.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $284,055 | $136.6 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$189,370
Gross Pay
Real Wage (Purchasing Power)
$189,370
Adjusted for COL (100)
The average annual salary of $189,370 in Indianapolis-Carmel-Greenwood aligns perfectly with the national average Cost of Living Index of 100. This means that the nominal salary earned by Personal Financial Advisors in this area holds its purchasing power directly against the national average, offering a stable financial foundation without significant cost-of-living adjustments.
Job Market Context
2,670
Total Jobs
2.436
Per 1K Jobs
1.39
Location Quotient
With a location quotient of 1.39, Indianapolis-Carmel-Greenwood, IN has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
A Location Quotient of 1.39 for Personal Financial Advisors in Indianapolis-Carmel-Greenwood indicates a market that is more concentrated than the national average. This suggests that the demand for these professionals is relatively strong within the region, potentially leading to increased competition among employers for talent, but also offering more opportunities for job seekers compared to less concentrated areas.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Northern Indiana nonmetropolitan area Personal Financial Advisors Salary | $113,830↓ 40% | 8 mi |
| Southern Indiana nonmetropolitan area Personal Financial Advisors Salary | $98,870↓ 48% | 8 mi |
| Central Indiana nonmetropolitan area Personal Financial Advisors Salary | $122,650↓ 35% | 8 mi |
| Columbus, IN Personal Financial Advisors Salary | $108,850↓ 43% | 41 mi |
| Bloomington, IN Personal Financial Advisors Salary | $118,490↓ 37% | 47 mi |
Comparing salaries near Indianapolis-Carmel-Greenwood, IN
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Indianapolis-Carmel-Greenwood, IN?
The median annual salary for a Personal Financial Advisors in Indianapolis-Carmel-Greenwood, IN is $189,370. This typically ranges from $50,580 for entry-level positions to $284,055 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Indianapolis-Carmel-Greenwood, IN is 18.1% higher than the national median of $160,360.
Is Indianapolis-Carmel-Greenwood, IN a lucrative place for Personal Financial Advisors?
Yes, it is a highly lucrative location for Personal Financial Advisors.The average salary of $189,370 significantly exceeds the national average, and the cost of living remains at the national benchmark, offering excellent earning potential.
Is Indianapolis-Carmel-Greenwood, IN a good place to live for Personal Financial Advisors?
The Cost of Living Index in Indianapolis-Carmel-Greenwood, IN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Indianapolis-Carmel-Greenwood, IN?
Some top paying nearby cities include Northern Indiana nonmetropolitan area ($113,830) and Southern Indiana nonmetropolitan area.
How does the Indianapolis salary compare to the national average?
Personal Financial Advisors in Indianapolis-Carmel-Greenwood earn an average of $189,370 annually, which is $29,010 more than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Indianapolis?
The Location Quotient of 1.39 indicates that Personal Financial Advisors are 39% more concentrated in Indianapolis-Carmel-Greenwood than the national average, suggesting a strong local presence.
Does the cost of living affect the Indianapolis salary?
No, the local Cost of Living Index is 100, matching the national average. This means the higher salary in Indianapolis offers the same purchasing power as the national average salary.
How many Personal Financial Advisors work in Indianapolis?
The Indianapolis-Carmel-Greenwood metropolitan area employs a local workforce of 2,670 Personal 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 2,670 employees in the Indianapolis-Carmel-Greenwood, IN area with a job density of 2.436 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 Indianapolis-Carmel-Greenwood, IN