Average Personal Financial Advisors Salary in Mobile, AL
Personal Financial Advisors in Mobile, AL, earn an average annual salary of $131,500. This figure is notably below the national average of $160,360, suggesting that local market dynamics and demand play a significant role in compensation within this region. Factors such as the concentration of financial services firms and the overall economic landscape of Mobile likely influence this pay scale.
Executive Summary
- Average Salary: $131,500 per year.
- Growth Trend: Salaries have shifted 45.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $197,250.
- Outlook: The job market for Personal Financial Advisors in Mobile, AL, appears stable with a total local workforce of 230 individuals. The Location Quotient of 0.78 indicates a slightly lower concentration of these professionals compared to the national average, suggesting a moderate but not oversaturated demand for their services. With 1.364 jobs per 1,000 workers, the presence of these roles is consistent within the local economy.
Salary Overview
The average Personal Financial Advisors in Mobile, AL earns-18.0%below the national average.
$63.2
$2,529
$10,958
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Mobile, AL is not provided, it is generally assumed that the field of Personal Financial Advising has experienced steady growth over the past four years, mirroring national trends. This growth is often driven by an increasing need for financial planning services across all age demographics and a greater awareness of the importance of wealth management. Consequently, salaries for Personal Financial Advisors in Mobile have likely seen a commensurate upward trend, reflecting both inflation and increased demand for expertise.
Personal Financial Advisors Salary Distribution in Mobile, AL
Salary progression for Personal Financial Advisors typically scales significantly with experience. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with a proven track record and a robust client base can command substantially higher earnings. The gap between the 25th percentile (entry-level) and the 75th percentile (senior) salaries serves as a clear indicator of the career advancement and earning potential available within this profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,570 | $22.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $98,625 | $47.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $79,500 | $38.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $164,375 | $79 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $197,250 | $94.8 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$131,500
Gross Pay
Real Wage (Purchasing Power)
$131,500
Adjusted for COL (100)
The average annual salary of $131,500 for Personal Financial Advisors in Mobile, AL, aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an advisor's salary in Mobile is equivalent to that of an advisor earning the national average in a typical U.S. city. Therefore, the nominal salary directly reflects the local cost of living, offering a stable financial standing without significant advantages or disadvantages compared to national benchmarks.
Job Market Context
230
Total Jobs
1.364
Per 1K Jobs
0.78
Location Quotient
Mobile, AL has 0.78x 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.
With a Location Quotient of 0.78, Mobile, AL, has a slightly lower concentration of Personal Financial Advisors than the national average. This suggests that while the profession is present and necessary, the market is not as saturated as in some larger metropolitan areas. This could translate to a more accessible market for new advisors or those looking to establish themselves, potentially offering opportunities for growth without intense competition from a high density of peers.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Daphne-Fairhope-Foley, AL Personal Financial Advisors Salary | $139,470↑ 6% | 14 mi |
| Pensacola-Ferry Pass-Brent, FL Personal Financial Advisors Salary | $123,500↓ 6% | 57 mi |
| Gulfport-Biloxi, MS Personal Financial Advisors Salary | $95,340↓ 27% | 59 mi |
| Hattiesburg, MS Personal Financial Advisors Salary | $135,000↑ 3% | 83 mi |
| Crestview-Fort Walton Beach-Destin, FL Personal Financial Advisors Salary | $136,630↑ 4% | 91 mi |
Comparing salaries near Mobile, AL
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Mobile, AL?
The median annual salary for a Personal Financial Advisors in Mobile, AL is $131,500. This typically ranges from $47,570 for entry-level positions to $197,250 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Mobile, AL is 18.0% lower than the national median of $160,360.
Is Mobile, AL a lucrative place for Personal Financial Advisorss?
No, not significantly more lucrative than the national average.The average salary of $131,500 is below the national average of $160,360, though the cost of living is on par with the national average. This indicates that while the salary offers standard purchasing power, it does not represent a premium earning opportunity compared to national benchmarks.
Is Mobile, AL a good place to live for Personal Financial Advisors?
The Cost of Living Index in Mobile, AL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Mobile, AL?
Some top paying nearby cities include Daphne-Fairhope-Foley, AL ($139,470) and Pensacola-Ferry Pass-Brent, FL.
How does Mobile's cost of living compare to the national average?
Mobile, AL, has a Cost of Living Index of 100, which is exactly the national average. This means that the general cost of goods and services, including housing, transportation, and groceries, is comparable to the typical U.S. city.
Is there high demand for Personal Financial Advisors in Mobile, AL?
The demand is moderate. With 1.364 jobs per 1,000 workers and a Location Quotient of 0.78, the presence of Personal Financial Advisors is slightly below the national concentration, suggesting a stable but not exceptionally high demand.
What is the typical salary range for Personal Financial Advisors in Mobile, AL?
While the average is $131,500, salary ranges can vary widely based on experience, client base, and the specific firm. Entry-level advisors will earn less, while senior advisors with extensive experience and a strong portfolio can earn significantly more.
How does the number of Personal Financial Advisors in Mobile compare nationally?
The Local Workforce of 230 and a Location Quotient of 0.78 indicate that there are fewer Personal Financial Advisors per capita in Mobile, AL, compared to the national average, suggesting a less concentrated professional landscape.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Mobile, AL area with a job density of 1.364 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 Mobile, AL