Average Personal Financial Advisors Salary in Lancaster, PA
Personal Financial Advisors in Lancaster, PA, earn an average annual salary of $152,370. This figure is slightly below the national average of $160,360, suggesting that while the demand for financial expertise is present, local market dynamics and potentially a slightly lower cost of doing business contribute to this compensation level.
Executive Summary
- Average Salary: $152,370 per year.
- Growth Trend: Salaries have shifted 18.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $228,555.
- Outlook: With a local workforce of 350 Personal Financial Advisors and a Location Quotient of 0.79, Lancaster, PA, presents a moderately concentrated but stable job market for this profession. The concentration indicates that the field is present at a level comparable to the national average, suggesting consistent demand and opportunities for skilled professionals within the region.
Salary Overview
The average Personal Financial Advisors in Lancaster, PA earns-5.0%below the national average.
$73.3
$2,930
$12,698
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Lancaster, PA, is not provided, it is reasonable to assume that the compensation for Personal Financial Advisors has seen a steady upward trend over the past four years, mirroring national patterns. Factors such as increasing demand for financial planning services, inflation, and evolving market conditions typically drive salary growth in this sector.
Personal Financial Advisors Salary Distribution in Lancaster, PA
The career trajectory for Personal Financial Advisors in Lancaster, PA, typically involves significant salary growth with experience. Entry-level positions may start at a lower percentile, but as advisors gain expertise, build client bases, and achieve higher levels of certification, their earning potential escalates considerably. The gap between entry-level and senior roles, often reflected in salary percentiles, signifies substantial opportunities for career advancement and increased remuneration.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,640 | $18.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $114,278 | $54.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $121,610 | $58.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $190,463 | $91.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $228,555 | $109.9 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$152,370
Gross Pay
Real Wage (Purchasing Power)
$152,370
Adjusted for COL (100)
The average annual salary of $152,370 in Lancaster, PA, 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 Lancaster is equivalent to that of an advisor earning the national average in a national average cost-of-living area, offering a stable financial standing.
Job Market Context
350
Total Jobs
1.391
Per 1K Jobs
0.79
Location Quotient
Lancaster, PA 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 for Personal Financial Advisors in Lancaster, PA, indicates that the profession is slightly less concentrated than the national average. This suggests a healthy, but not oversaturated, job market, implying that opportunities exist for qualified individuals without facing extreme competition. The market is accessible for new entrants and established professionals alike.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| York-Hanover, PA Personal Financial Advisors Salary | $163,950↑ 8% | 23 mi |
| Reading, PA Personal Financial Advisors Salary | $180,480↑ 18% | 29 mi |
| Harrisburg-Carlisle, PA Personal Financial Advisors Salary | $133,880↓ 12% | 35 mi |
Comparing salaries near Lancaster, PA
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Lancaster, PA?
The median annual salary for a Personal Financial Advisors in Lancaster, PA is $152,370. This typically ranges from $37,640 for entry-level positions to $228,555 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Lancaster, PA is 5.0% lower than the national median of $160,360.
Is Lancaster, PA a lucrative place for Personal Financial Advisors?
Yes, Lancaster, PA offers a competitive environment for Personal Financial Advisors.While the average salary is slightly below the national average, the cost of living is also at the national average, making the nominal salary hold its purchasing power. The stable job market indicates consistent demand for these services.
Is Lancaster, PA a good place to live for Personal Financial Advisors?
The Cost of Living Index in Lancaster, PA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Lancaster, PA?
Some top paying nearby cities include York-Hanover, PA ($163,950) and Reading, PA.
How does the Lancaster, PA salary compare to the national average?
Personal Financial Advisors in Lancaster, PA, earn an average of $152,370 annually, which is slightly less than the national average of $160,360.
What is the cost of living in Lancaster, PA for Personal Financial Advisors?
The cost of living in Lancaster, PA, is at the national average of 100, meaning that the $152,370 salary has the same purchasing power as the national average salary in a national average cost-of-living area.
How concentrated is the Personal Financial Advisor job market in Lancaster, PA?
The job market for Personal Financial Advisors in Lancaster, PA, is moderately concentrated, with a Location Quotient of 0.79, indicating a presence that is slightly less dense than the national average.
What is the total number of Personal Financial Advisors in Lancaster, PA?
There are approximately 350 Personal Financial Advisors employed in the Lancaster, PA area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 350 employees in the Lancaster, PA area with a job density of 1.391 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 Lancaster, PA