Average Personal Financial Advisors Salary in Kiryas Joel-Poughkeepsie-Newburgh, NY
Personal Financial Advisors in the Kiryas Joel-Poughkeepsie-Newburgh, NY area earn an impressive average annual salary of $160,790. This figure slightly surpasses the national average of $160,360, indicating a robust local demand for financial expertise. The specific economic drivers within this metropolitan area contribute to this competitive compensation, reflecting the value placed on skilled financial guidance.
Executive Summary
- Average Salary: $160,790 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $241,185.
- Outlook: The local job market for Personal Financial Advisors in Kiryas Joel-Poughkeepsie-Newburgh, NY, while not exhibiting a high concentration compared to the national average (Location Quotient of 0.49), still supports a dedicated workforce of 220 professionals. The number of jobs per 1,000 workers at 0.851 suggests a stable, albeit not rapidly expanding, demand for these services within the region.
Salary Overview
The average Personal Financial Advisors in Kiryas Joel-Poughkeepsie-Newburgh, NY earns+0.3%above the national average.
$77.3
$3,092
$13,399
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the compensation for Personal Financial Advisors in Kiryas Joel-Poughkeepsie-Newburgh, NY, has seen consistent growth over the past four years, mirroring national trends. Factors such as increasing financial literacy, evolving investment landscapes, and a growing need for retirement planning likely contribute to upward salary pressure in this field.
Personal Financial Advisors Salary Distribution in Kiryas Joel-Poughkeepsie-Newburgh, NY
Career progression for Personal Financial Advisors in Kiryas Joel-Poughkeepsie-Newburgh, NY, typically involves a significant salary increase with experience. Entry-level positions might start at a lower percentile, but seasoned advisors with extensive client portfolios and specialized knowledge can command salaries well into the higher percentiles, reflecting their accumulated expertise and proven track record.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $50,200 | $24.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $120,593 | $58 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $118,140 | $56.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $200,988 | $96.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $241,185 | $116 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$160,790
Gross Pay
Real Wage (Purchasing Power)
$160,790
Adjusted for COL (100)
The average annual salary of $160,790 in Kiryas Joel-Poughkeepsie-Newburgh, NY, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Personal Financial Advisor's income in this region is equivalent to the national standard, offering a stable financial environment without the added pressure of a significantly higher or lower cost of living.
Job Market Context
220
Total Jobs
0.851
Per 1K Jobs
0.49
Location Quotient
At 0.49x, Kiryas Joel-Poughkeepsie-Newburgh, NY has a notably lower concentration of Personal Financial Advisors jobs than the national average. Opportunities in this area are relatively scarce for this profession.
With a Location Quotient of 0.49, the Kiryas Joel-Poughkeepsie-Newburgh, NY, market is less concentrated with Personal Financial Advisors compared to the national average. This suggests that while the profession is established, there may be opportunities for new entrants or those seeking to expand their practice, as the density of professionals is below the national benchmark.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Kingston, NY Personal Financial Advisors Salary | $143,200↓ 11% | 42 mi |
| New York-Newark-Jersey City, NY-NJ Personal Financial Advisors Salary | $230,810↑ 44% | 44 mi |
| Bridgeport-Stamford-Danbury, CT Personal Financial Advisors Salary | $160,610↓ 0% | 51 mi |
| Waterbury-Shelton, CT Personal Financial Advisors Salary | $157,260↓ 2% | 60 mi |
| New Haven, CT Personal Financial Advisors Salary | $149,470↓ 7% | 64 mi |
Comparing salaries near Kiryas Joel-Poughkeepsie-Newburgh, NY
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Frequently Asked Questions
How much does a Personal Financial Advisors make in Kiryas Joel-Poughkeepsie-Newburgh, NY?
The median annual salary for a Personal Financial Advisors in Kiryas Joel-Poughkeepsie-Newburgh, NY is $160,790. This typically ranges from $50,200 for entry-level positions to $241,185 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Kiryas Joel-Poughkeepsie-Newburgh, NY is 0.3% higher than the national median of $160,360.
Is Kiryas Joel-Poughkeepsie-Newburgh, NY a lucrative place for Personal Financial Advisors?
Yes, it is a lucrative place for Personal Financial Advisors.The average salary of $160,790 slightly exceeds the national average, and the cost of living is at the national benchmark, indicating strong earning potential relative to expenses.
Is Kiryas Joel-Poughkeepsie-Newburgh, NY a good place to live for Personal Financial Advisors?
The Cost of Living Index in Kiryas Joel-Poughkeepsie-Newburgh, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Kiryas Joel-Poughkeepsie-Newburgh, NY?
Some top paying nearby cities include Kingston, NY ($143,200) and New York-Newark-Jersey City, NY-NJ.
How does the salary compare to the national average?
The average annual salary for Personal Financial Advisors in Kiryas Joel-Poughkeepsie-Newburgh, NY, is $160,790, which is slightly higher than the national average of $160,360.
What is the cost of living in Kiryas Joel-Poughkeepsie-Newburgh, NY?
The cost of living in Kiryas Joel-Poughkeepsie-Newburgh, NY, is exactly at the national average, with a Cost of Living Index of 100.
How many Personal Financial Advisors are there locally?
There are approximately 220 Personal Financial Advisors working in the Kiryas Joel-Poughkeepsie-Newburgh, NY area.
Is the market saturated for Personal Financial Advisors in this area?
With a Location Quotient of 0.49, the market is less concentrated than the national average, suggesting it is not saturated and may offer opportunities.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 220 employees in the Kiryas Joel-Poughkeepsie-Newburgh, NY area with a job density of 0.851 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 Kiryas Joel-Poughkeepsie-Newburgh, NY