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Average Personal Financial Advisors Salary in Nashville-Davidson--Murfreesboro--Franklin, TN

Personal Financial Advisors in the Nashville-Davidson--Murfreesboro--Franklin, TN area earn an average annual salary of $145,900. This figure is slightly below the national average of $160,360, suggesting a localized compensation structure influenced by regional economic factors and demand within the Tennessee market. The specific economic landscape and industry concentration in this metropolitan area play a key role in shaping these earnings.

Executive Summary

  • Average Salary: $145,900 per year.
  • Growth Trend: Salaries have shifted 55.1% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $218,850.
  • Outlook: With a local workforce of 1,650 Personal Financial Advisors, the Nashville metropolitan area demonstrates a significant presence in this field. The Location Quotient of 0.86 indicates that the concentration of these professionals is slightly below the national average, suggesting a stable but not overly saturated job market. The rate of 1.501 jobs per 1,000 workers further underscores a consistent demand for skilled financial advisory services within the region.
2024 Market Data

Salary Overview

$145,900

The average Personal Financial Advisors in Nashville-Davidson--Murfreesboro--Franklin, TN earns-9.0%below the national average.

BreakdownBased on 40h/week
Hourly

$70.1

Weekly

$2,806

Monthly

$12,158

Personal Financial Advisors Salary Distribution in Nashville-Davidson--Murfreesboro--Franklin, TN

Salary progression for Personal Financial Advisors in Nashville is strongly tied to experience and expertise. Entry-level positions typically command lower salaries, while seasoned professionals with a proven track record and specialized certifications can significantly increase their earning potential. The gap between entry-level and senior-level salaries, often reflected in percentile data, highlights the substantial career growth and increased earning capacity available through dedication and skill development in this role.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$41,460$19.9
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$109,425$52.6
ManagerOversees team, compliance, and project delivery.50% (Median)$88,300$42.5
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$182,375$87.7
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$218,850$105.2

Detailed Personal Financial Advisors Market Analysis

Relocation Context

Nominal Salary

$145,900

Gross Pay

Real Wage (Purchasing Power)

$145,900

Adjusted for COL (100)

The average annual salary of $145,900 for Personal Financial Advisors in Nashville 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, providing a balanced financial standing for advisors residing in the area. While the salary is slightly below the national average, the cost of living being at par suggests that the take-home pay is relatively stable compared to national benchmarks.

Job Market Context

1,650

Total Jobs

1.501

Per 1K Jobs

0.86

Location Quotient

Below Average

Nashville-Davidson--Murfreesboro--Franklin, TN has 0.86x 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.

The Location Quotient of 0.86 for Personal Financial Advisors in Nashville-Davidson--Murfreesboro--Franklin, TN suggests a job market that is slightly less concentrated than the national average. This indicates that while the demand for financial advisors is present, the supply might be relatively more accessible compared to highly concentrated metropolitan areas. This presents a potentially favorable environment for job seekers looking for opportunities without facing extreme competition.

Nearby Job Markets

Nearby Cities for Personal Financial Advisors

CitySalaryDist.
West Tennessee nonmetropolitan area Personal Financial Advisors Salary$131,140↓ 10%29 mi
North Central Tennessee nonmetropolitan area Personal Financial Advisors Salary$136,560↓ 6%29 mi
Clarksville, TN-KY Personal Financial Advisors Salary$107,050↓ 27%42 mi

Comparing salaries near Nashville-Davidson--Murfreesboro--Franklin, TN

Hiring Personal Financial Advisorss?

Frequently Asked Questions

How much does a Personal Financial Advisors make in Nashville-Davidson--Murfreesboro--Franklin, TN?

The median annual salary for a Personal Financial Advisors in Nashville-Davidson--Murfreesboro--Franklin, TN is $145,900. This typically ranges from $41,460 for entry-level positions to $218,850 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Nashville-Davidson--Murfreesboro--Franklin, TN is 9.0% lower than the national median of $160,360.

Is Nashville-Davidson--Murfreesboro--Franklin, TN a lucrative place for Personal Financial Advisors?

Yes, with a stable financial standing.The average salary of $145,900 is on par with the national average cost of living, offering good purchasing power. While slightly below the national salary average, the market is not overly saturated, indicating steady opportunities.

Is Nashville-Davidson--Murfreesboro--Franklin, TN a good place to live for Personal Financial Advisors?

The Cost of Living Index in Nashville-Davidson--Murfreesboro--Franklin, TN is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Nashville-Davidson--Murfreesboro--Franklin, TN?

Some top paying nearby cities include West Tennessee nonmetropolitan area ($131,140) and North Central Tennessee nonmetropolitan area.

How does the Nashville salary compare to the national average?

The average annual salary for Personal Financial Advisors in Nashville is $145,900, which is approximately 8.9% lower than the national average of $160,360.

What is the job market like for Personal Financial Advisors in Nashville?

The job market is stable, with a local workforce of 1,650 and a Location Quotient of 0.86, indicating a presence slightly below the national average concentration but consistent demand.

Does the cost of living in Nashville affect the advisor's salary?

The cost of living in Nashville is at the national average (100), meaning the $145,900 salary offers purchasing power equivalent to the national average, making it financially balanced.

What is the concentration of Personal Financial Advisors in Nashville compared to the nation?

Nashville has a concentration of Personal Financial Advisors slightly below the national average, with a Location Quotient of 0.86, suggesting a less saturated market relative to national benchmarks.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,650 employees in the Nashville-Davidson--Murfreesboro--Franklin, TN area with a job density of 1.501 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Top Jobs in Nashville-Davidson--Murfreesboro--Franklin, TN

Semantic Salary Analysis for Personal Financial Advisors • Data source: BLS OEWS 2024 •Jobs in Nashville-Davidson--Murfreesboro--Franklin, TN