Average Personal Financial Advisors Salary in Mississippi
Personal Financial Advisors in Mississippi earn an average annual salary of $154,090, slightly below the national average of $160,360. This localized compensation reflects a combination of regional economic factors, demand for financial expertise, and the overall cost of living within the state.
Executive Summary
- Average Salary: $154,090 per year.
- Growth Trend: Salaries have shifted 89.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $231,135.
- Outlook: With a total local workforce of 870 Personal Financial Advisors, Mississippi presents a niche but stable employment landscape for this profession. The Location Quotient of 0.43 indicates a lower concentration of these roles compared to the national average, suggesting that while the absolute number of jobs is modest, there is a consistent presence and demand within the state's financial sector.
Salary Overview
The average Personal Financial Advisors in Mississippi earns-3.9%below the national average.
$74.1
$2,963
$12,841
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Mississippi is not provided, it is reasonable to assume a general upward trend in Personal Financial Advisor salaries over the past four years, mirroring national patterns. Economic growth, evolving financial markets, and increasing demand for personalized financial planning services typically drive salary increases for experienced professionals in this field.
Personal Financial Advisors Salary Distribution in Mississippi
The career trajectory for Personal Financial Advisors in Mississippi, as elsewhere, typically involves significant salary growth with experience. Entry-level positions may start at lower percentiles, but as advisors gain expertise, build client portfolios, and achieve higher levels of certification, their earning potential escalates considerably. The widening gap between lower and higher salary percentiles underscores the substantial rewards associated with career progression and specialization.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $40,110 | $19.3 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $115,568 | $55.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $65,150 | $31.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $192,613 | $92.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $231,135 | $111.1 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$154,090
Gross Pay
Real Wage (Purchasing Power)
$177,728
Adjusted for COL (86.7)
The average annual salary of $154,090 in Mississippi offers a strong purchasing power, especially when contrasted with the state's Cost of Living Index of 86.7. This index is notably below the national average of 100, meaning that the nominal income earned by Personal Financial Advisors in Mississippi can translate into a higher real income and a better standard of living compared to many other states.
Job Market Context
870
Total Jobs
0.751
Per 1K Jobs
0.43
Location Quotient
At 0.43x, Mississippi 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 0.43 for Personal Financial Advisors in Mississippi signifies that this profession is less concentrated in the state than it is nationally. This suggests that while the overall number of opportunities might be fewer than in larger metropolitan areas, the market is not saturated, potentially offering a more direct path to employment for qualified individuals seeking to establish or advance their careers in financial advising within Mississippi.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Jackson, MS Personal Financial Advisors Salary | $158,880↑ 3% | 43 mi |
Comparing salaries near Mississippi
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Mississippi?
The median annual salary for a Personal Financial Advisors in Mississippi is $154,090. This typically ranges from $40,110 for entry-level positions to $231,135 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Mississippi is 3.9% lower than the national median of $160,360.
Is Mississippi a lucrative place for Personal Financial Advisors?
Yes, with strong purchasing power.While the average salary is slightly below the national average, Mississippi's significantly lower cost of living means that $154,090 offers excellent real income and a high standard of living.
Is Mississippi a good place to live for Personal Financial Advisors?
With a Cost of Living Index of 86.7 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Mississippi?
Some top paying nearby cities include Jackson, MS ($158,880) and others.
How does Mississippi's average Personal Financial Advisor salary compare to the national average?
The average annual salary for Personal Financial Advisors in Mississippi is $154,090, which is slightly lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Mississippi compared to the rest of the US?
Mississippi has a lower concentration of Personal Financial Advisors, indicated by a Location Quotient of 0.43, meaning the profession is less prevalent there than the national average.
How does the cost of living in Mississippi affect the value of a Personal Financial Advisor's salary?
With a Cost of Living Index of 86.7, Mississippi is more affordable than the national average. This makes the $154,090 salary provide greater purchasing power for advisors living in the state.
What does the job market size for Personal Financial Advisors in Mississippi look like?
The total local workforce for Personal Financial Advisors in Mississippi is 870, with approximately 0.751 jobs per 1,000 workers, indicating a stable but not overly abundant market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 870 employees in the Mississippi area with a job density of 0.751 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 Mississippi