Average Personal Financial Advisors Salary in Pennsylvania
Personal Financial Advisors in Pennsylvania earn an impressive average annual salary of $164,140, slightly surpassing the national average of $160,360. This favorable compensation is influenced by a robust demand for financial expertise within the state and a workforce that values specialized financial guidance. The economic landscape of Pennsylvania supports higher pay for these crucial roles.
Executive Summary
- Average Salary: $164,140 per year.
- Growth Trend: Salaries have shifted 43.6% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $246,210.
- Outlook: With a substantial local workforce of 12,370 Personal Financial Advisors, Pennsylvania demonstrates a significant concentration of these professionals. The Location Quotient of 1.17 indicates that this role is more prevalent in Pennsylvania than the national average, suggesting a healthy and potentially growing job market for financial advisors within the state.
Salary Overview
The average Personal Financial Advisors in Pennsylvania earns+2.4%above the national average.
$78.9
$3,157
$13,678
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the field of Personal Financial Advisors has experienced consistent salary growth over the past four years, mirroring broader economic trends and increasing demand for financial planning services. This upward trajectory is likely to continue as more individuals seek expert financial advice.
Personal Financial Advisors Salary Distribution in Pennsylvania
The salary progression for Personal Financial Advisors in Pennsylvania typically scales with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with extensive client portfolios and a proven track record can command salaries in the higher percentiles. These percentile gaps clearly signify the career progression and earning potential within the profession.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,990 | $24 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $123,105 | $59.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $103,290 | $49.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $205,175 | $98.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $246,210 | $118.4 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$164,140
Gross Pay
Real Wage (Purchasing Power)
$165,798
Adjusted for COL (99)
The average annual salary of $164,140 in Pennsylvania is highly competitive when considering the local Cost of Living Index of 99. This index is right at the national average, meaning that the purchasing power of a Personal Financial Advisor's salary in Pennsylvania is strong, allowing for a comfortable lifestyle relative to the rest of the country.
Job Market Context
12,370
Total Jobs
2.057
Per 1K Jobs
1.17
Location Quotient
With a location quotient of 1.17, Pennsylvania has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
A Location Quotient of 1.17 signifies that Personal Financial Advisors are 17% more concentrated in Pennsylvania than the national average. This suggests a competitive yet abundant job market, where demand is slightly higher than the national norm, providing ample opportunities for skilled professionals in the field.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Williamsport, PA Personal Financial Advisors Salary | $168,430↑ 3% | 9 mi |
| State College, PA Personal Financial Advisors Salary | $147,970↓ 10% | 45 mi |
| Elmira, NY Personal Financial Advisors Salary | $130,340↓ 21% | 65 mi |
| Harrisburg-Carlisle, PA Personal Financial Advisors Salary | $133,880↓ 18% | 66 mi |
Comparing salaries near Pennsylvania
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Pennsylvania?
The median annual salary for a Personal Financial Advisors in Pennsylvania is $164,140. This typically ranges from $49,990 for entry-level positions to $246,210 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Pennsylvania is 2.4% higher than the national median of $160,360.
Is Pennsylvania a lucrative place for Personal Financial Advisors?
Yes, Pennsylvania offers a lucrative environment for Personal Financial Advisors.The average salary of $164,140 significantly exceeds the national average, and the cost of living is on par with the national index, enhancing earning potential.
Is Pennsylvania a good place to live for Personal Financial Advisors?
With a Cost of Living Index of 99 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Pennsylvania?
Some top paying nearby cities include Williamsport, PA ($168,430) and State College, PA.
How does the number of Personal Financial Advisors in PA compare nationally?
Pennsylvania employs 12,370 Personal Financial Advisors, and with a Location Quotient of 1.17, the profession is more concentrated here than the national average.
What is the job outlook for Personal Financial Advisors in Pennsylvania?
The outlook is robust, indicated by a higher-than-average concentration (LQ 1.17) and a significant local workforce, suggesting strong demand for these services.
How does the cost of living affect the salary of a Personal Financial Advisor in PA?
With a Cost of Living Index of 99, the $164,140 average salary offers excellent purchasing power, as it aligns with the national average cost of living.
What factors contribute to the higher average salary for Personal Financial Advisors in PA?
The higher average salary is likely driven by a combination of strong local demand, a higher concentration of professionals, and the state's economic conditions supporting specialized financial services.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 12,370 employees in the Pennsylvania area with a job density of 2.057 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 Pennsylvania