Average Personal Financial Advisors Salary in Palm Bay-Melbourne-Titusville, FL
Personal Financial Advisors in the Palm Bay-Melbourne-Titusville, FL area earn an average annual salary of $107,830. This figure is notably below the national average of $160,360, suggesting that local market dynamics and demand play a significant role in compensation levels within this Florida region.
Executive Summary
- Average Salary: $107,830 per year.
- Growth Trend: Salaries have shifted 38.0% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $232,740.
- Outlook: The local job market for Personal Financial Advisors in Palm Bay-Melbourne-Titusville, FL, while not as concentrated as the national average (Location Quotient of 0.7), supports a workforce of approximately 300 professionals. With 1.226 jobs per 1,000 workers, the demand indicates a stable, albeit not rapidly expanding, employment landscape for these financial experts.
Salary Overview
The average Personal Financial Advisors in Palm Bay-Melbourne-Titusville, FL earns-32.8%below the national average.
$51.8
$2,074
$8,986
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that Personal Financial Advisor salaries in Palm Bay-Melbourne-Titusville, FL, have experienced gradual growth over the past four years, mirroring national trends. Economic shifts and evolving client needs likely contribute to a steady upward trajectory in compensation, even if local market conditions influence the pace of this increase.
Personal Financial Advisors Salary Distribution in Palm Bay-Melbourne-Titusville, FL
Career progression for Personal Financial Advisors in Palm Bay-Melbourne-Titusville, FL, typically involves a significant salary increase with experience. Entry-level positions might start considerably lower than the average, while seasoned professionals with established client bases and specialized expertise can command salaries well above the $107,830 mark, with higher percentiles reflecting substantial career advancement.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $27,460 | $13.2 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $80,873 | $38.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $74,680 | $35.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $134,788 | $64.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $232,740 | $111.9 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$107,830
Gross Pay
Real Wage (Purchasing Power)
$107,830
Adjusted for COL (100)
The average annual salary of $107,830 for Personal Financial Advisors in Palm Bay-Melbourne-Titusville, FL, aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of this salary is equivalent to the national average, offering a stable financial foundation for advisors residing in this area.
Job Market Context
300
Total Jobs
1.226
Per 1K Jobs
0.7
Location Quotient
Palm Bay-Melbourne-Titusville, FL has 0.70x 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 0.7, the Palm Bay-Melbourne-Titusville, FL, market has a lower concentration of Personal Financial Advisors compared to the national average. This suggests that while the profession is present, it is not as dominant a sector locally, potentially indicating a less saturated job market but also potentially lower overall demand relative to other regions.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Sebastian-Vero Beach-West Vero Corridor, FL Personal Financial Advisors Salary | $168,620↑ 56% | 17 mi |
| Port St. Lucie, FL Personal Financial Advisors Salary | $160,770↑ 49% | 50 mi |
| Sebring, FL Personal Financial Advisors Salary | $107,590↓ 0% | 59 mi |
| Orlando-Kissimmee-Sanford, FL Personal Financial Advisors Salary | $148,820↑ 38% | 59 mi |
| North Florida nonmetropolitan area Personal Financial Advisors Salary | $104,710↓ 3% | 64 mi |
Comparing salaries near Palm Bay-Melbourne-Titusville, FL
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Palm Bay-Melbourne-Titusville, FL?
The median annual salary for a Personal Financial Advisors in Palm Bay-Melbourne-Titusville, FL is $107,830. This typically ranges from $27,460 for entry-level positions to $232,740 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Palm Bay-Melbourne-Titusville, FL is 32.8% lower than the national median of $160,360.
Is Palm Bay-Melbourne-Titusville, FL a lucrative place for Personal Financial Advisors?
No, not compared to the national average.While the average salary of $107,830 is substantial, it falls significantly short of the national average of $160,360. However, the cost of living is on par with the national average, making the salary's purchasing power equivalent.
Is Palm Bay-Melbourne-Titusville, FL a good place to live for Personal Financial Advisors?
The Cost of Living Index in Palm Bay-Melbourne-Titusville, FL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Palm Bay-Melbourne-Titusville, FL?
Some top paying nearby cities include Sebastian-Vero Beach-West Vero Corridor, FL ($168,620) and Port St. Lucie, FL.
How does the cost of living affect the Personal Financial Advisor salary in Palm Bay?
The cost of living in Palm Bay-Melbourne-Titusville, FL, is exactly at the national average (100). This means the $107,830 salary has the same purchasing power as it would nationally, making it a fair, though not exceptionally high, compensation relative to expenses.
Is the job market for Personal Financial Advisors strong in Palm Bay-Melbourne-Titusville, FL?
The market is stable with a local workforce of 300, but the concentration (Location Quotient of 0.7) is below the national average, indicating it's not a primary hub for this profession.
What is the typical salary range for Personal Financial Advisors in this area?
While the average is $107,830, entry-level advisors will earn less, and experienced professionals with strong client portfolios can significantly exceed this average, potentially reaching well into the six figures.
How many Personal Financial Advisor jobs are there per 1,000 workers in Palm Bay-Melbourne-Titusville, FL?
There are approximately 1.226 Personal Financial Advisor jobs per 1,000 workers in the Palm Bay-Melbourne-Titusville, FL area, indicating a moderate level of employment for this role.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 300 employees in the Palm Bay-Melbourne-Titusville, FL area with a job density of 1.226 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 Palm Bay-Melbourne-Titusville, FL