Average Personal Financial Advisors Salary in Knoxville, TN
Personal Financial Advisors in Knoxville, TN, earn an average annual salary of $118,490. This figure is notably below the national average of $160,360, reflecting regional economic factors and the specific demand dynamics within the Knoxville market. Localized economic conditions and the concentration of financial services firms play a significant role in shaping compensation for these professionals.
Executive Summary
- Average Salary: $118,490 per year.
- Growth Trend: Salaries have shifted 52.7% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $236,800.
- Outlook: With a total local workforce of 580 Personal Financial Advisors, Knoxville presents a moderate employment landscape for this profession. The Location Quotient of 0.79 suggests a slightly lower concentration of these roles compared to the national average, indicating a stable but not exceptionally high demand. The presence of over 1.3 jobs per 1,000 workers signifies a consistent need for financial advisory services within the community.
Salary Overview
The average Personal Financial Advisors in Knoxville, TN earns-26.1%below the national average.
$57
$2,279
$9,874
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Knoxville is not provided, it is reasonable to assume that salaries for Personal Financial Advisors have experienced growth over the past four years, mirroring national trends. Economic recovery, evolving investment strategies, and an increasing need for financial planning among diverse demographics typically drive salary increases in this sector, even in localized markets.
Personal Financial Advisors Salary Distribution in Knoxville, TN
The career trajectory for Personal Financial Advisors in Knoxville, TN, shows a clear progression in earning potential. Entry-level positions typically start at the lower end of the salary spectrum, while seasoned professionals with extensive experience and a proven track record can command significantly higher compensation. The percentile gaps in salary distribution highlight the substantial rewards associated with advancing expertise and client portfolios.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $38,150 | $18.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $88,868 | $42.7 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $59,870 | $28.8 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $148,113 | $71.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $236,800 | $113.8 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$118,490
Gross Pay
Real Wage (Purchasing Power)
$118,490
Adjusted for COL (100)
The average annual salary of $118,490 for Personal Financial Advisors in Knoxville, TN, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the nominal salary offers purchasing power equivalent to the national average, suggesting that the cost of living in Knoxville is neither a significant advantage nor a disadvantage when compared to the rest of the country.
Job Market Context
580
Total Jobs
1.377
Per 1K Jobs
0.79
Location Quotient
Knoxville, TN has 0.79x 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.
A Location Quotient of 0.79 indicates that Personal Financial Advisors are employed in Knoxville at a rate slightly below the national average. This suggests that while the profession is present and necessary, it is not a dominant industry in the region. The job market is likely competitive, with opportunities available but perhaps fewer than in areas with a higher concentration of financial services.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Asheville, NC Personal Financial Advisors Salary | $130,720↑ 10% | 83 mi |
| Kingsport-Bristol, TN-VA Personal Financial Advisors Salary | $132,450↑ 12% | 87 mi |
| Johnson City, TN Personal Financial Advisors Salary | $140,330↑ 18% | 91 mi |
Comparing salaries near Knoxville, TN
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Knoxville, TN?
The median annual salary for a Personal Financial Advisors in Knoxville, TN is $118,490. This typically ranges from $38,150 for entry-level positions to $236,800 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Knoxville, TN is 26.1% lower than the national median of $160,360.
Is Knoxville, TN a lucrative place for Personal Financial Advisorss?
No, not exceptionally lucrative compared to the national average.While the average salary of $118,490 is substantial, it falls below the national average of $160,360. However, the cost of living is also at the national average, making the purchasing power comparable.
Is Knoxville, TN a good place to live for Personal Financial Advisors?
The Cost of Living Index in Knoxville, TN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Knoxville, TN?
Some top paying nearby cities include Asheville, NC ($130,720) and Kingsport-Bristol, TN-VA.
How does Knoxville's Personal Financial Advisor salary compare to the national average?
The average salary for Personal Financial Advisors in Knoxville, TN, is $118,490, which is lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Knoxville, TN?
The Location Quotient for Personal Financial Advisors in Knoxville is 0.79, indicating a slightly lower concentration compared to the national average.
Does the cost of living in Knoxville affect the value of the salary?
No, the cost of living in Knoxville is at the national average (100), meaning the $118,490 salary has purchasing power equivalent to the national average.
How many Personal Financial Advisors are there in Knoxville, TN?
There are approximately 580 Personal Financial Advisors working in Knoxville, TN.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 580 employees in the Knoxville, TN area with a job density of 1.377 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 Knoxville, TN