Average Personal Financial Advisors Salary in Lakeland-Winter Haven, FL
Personal Financial Advisors in Lakeland-Winter Haven, FL, earn an average annual salary of $115,910. This figure is notably below the national average of $160,360, suggesting that local market dynamics, such as demand and the cost of doing business, play a significant role in compensation within this region.
Executive Summary
- Average Salary: $115,910 per year.
- Growth Trend: Salaries have shifted 4.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $234,510.
- Outlook: With a total local workforce of 220 Personal Financial Advisors, the Lakeland-Winter Haven area presents a modest employment landscape for this profession. The Location Quotient of 0.48 indicates that this role is less concentrated here compared to the national average, suggesting that while opportunities exist, the market is not saturated.
Salary Overview
The average Personal Financial Advisors in Lakeland-Winter Haven, FL earns-27.7%below the national average.
$55.7
$2,229
$9,659
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the financial advisory sector, like many others, has experienced salary growth over the past four years. Factors such as inflation, increased demand for financial planning services, and evolving market conditions likely contribute to an upward trend in compensation for Personal Financial Advisors in Lakeland-Winter Haven.
Personal Financial Advisors Salary Distribution in Lakeland-Winter Haven, FL
Salary progression for Personal Financial Advisors in Lakeland-Winter Haven, FL, typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with a proven track record and specialized expertise can command salaries significantly higher than the average. The widening gap between entry-level and senior roles reflects the value placed on experience and client management skills.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $41,710 | $20.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $86,933 | $41.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $75,920 | $36.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $144,888 | $69.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $234,510 | $112.7 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$115,910
Gross Pay
Real Wage (Purchasing Power)
$115,910
Adjusted for COL (100)
The average annual salary of $115,910 in Lakeland-Winter Haven, FL, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that, on average, the purchasing power of a Personal Financial Advisor's salary in this area is equivalent to the national standard, offering a stable financial environment.
Job Market Context
220
Total Jobs
0.841
Per 1K Jobs
0.48
Location Quotient
At 0.48x, Lakeland-Winter Haven, FL has a notably lower concentration of Personal Financial Advisors jobs than the national average. Opportunities in this area are relatively scarce for this profession.
A Location Quotient of 0.48 for Personal Financial Advisors in Lakeland-Winter Haven, FL, signifies that the concentration of these professionals is less than half of the national average. This suggests a less competitive job market with potentially fewer specialized roles compared to national hubs, but also indicates a steady demand that is met by the existing workforce.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| North Florida nonmetropolitan area Personal Financial Advisors Salary | $104,710↓ 10% | 26 mi |
| Tampa-St. Petersburg-Clearwater, FL Personal Financial Advisors Salary | $146,450↑ 26% | 32 mi |
| Orlando-Kissimmee-Sanford, FL Personal Financial Advisors Salary | $148,820↑ 28% | 48 mi |
| Wildwood-The Villages, FL Personal Financial Advisors Salary | $170,680↑ 47% | 50 mi |
Comparing salaries near Lakeland-Winter Haven, FL
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Lakeland-Winter Haven, FL?
The median annual salary for a Personal Financial Advisors in Lakeland-Winter Haven, FL is $115,910. This typically ranges from $41,710 for entry-level positions to $234,510 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lakeland-Winter Haven, FL is 27.7% lower than the national median of $160,360.
Is Lakeland-Winter Haven, FL a lucrative place for Personal Financial Advisors?
No, not when compared to the national average.While the average salary of $115,910 is substantial, it falls significantly short of the national average of $160,360. However, the cost of living is also at the national average, making the salary's purchasing power comparable locally.
Is Lakeland-Winter Haven, FL a good place to live for Personal Financial Advisors?
The Cost of Living Index in Lakeland-Winter Haven, FL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lakeland-Winter Haven, FL?
Some top paying nearby cities include North Florida nonmetropolitan area ($104,710) and Tampa-St. Petersburg-Clearwater, FL.
How does the Lakeland-Winter Haven salary compare to the national average?
The average salary for Personal Financial Advisors in Lakeland-Winter Haven, FL, is $115,910, which is considerably lower than the national average of $160,360.
What is the Cost of Living in Lakeland-Winter Haven, FL?
The Cost of Living Index in Lakeland-Winter Haven, FL, is 100, which is exactly the national average, indicating that the general cost of goods and services is comparable to the rest of the country.
Is there high demand for Personal Financial Advisors in this area?
With a Location Quotient of 0.48, the concentration of Personal Financial Advisors is below the national average, suggesting moderate demand that is met by the local workforce without significant oversupply.
How many Personal Financial Advisors are there in Lakeland-Winter Haven, FL?
The total local workforce for Personal Financial Advisors in Lakeland-Winter Haven, FL, consists of approximately 220 individuals.
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 Lakeland-Winter Haven, FL area with a job density of 0.841 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 Lakeland-Winter Haven, FL