Average Personal Financial Advisors Salary in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Personal Financial Advisors in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area earn an impressive average annual salary of $169,770, significantly exceeding the national average of $160,360. This elevated compensation is likely driven by the region's robust financial sector and a concentrated demand for specialized financial planning services.
Executive Summary
- Average Salary: $169,770 per year.
- Growth Trend: Salaries have shifted 69.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $254,655.
- Outlook: The job market for Personal Financial Advisors in Philadelphia-Camden-Wilmington appears robust, evidenced by a local workforce of 7,370 individuals in this role. The location quotient of 1.46 indicates a higher concentration of these professionals compared to the national average, suggesting a strong and potentially growing demand for their expertise within the region.
Salary Overview
The average Personal Financial Advisors in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD earns+5.9%above the national average.
$81.6
$3,265
$14,148
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that salaries for Personal Financial Advisors in Philadelphia-Camden-Wilmington have experienced consistent growth over the past four years, mirroring national trends. Factors such as increasing demand for financial planning, evolving market conditions, and the need for specialized advice likely contribute to this upward salary trajectory.
Personal Financial Advisors Salary Distribution in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Career progression for Personal Financial Advisors in Philadelphia-Camden-Wilmington typically involves a significant salary increase with experience. Entry-level positions might start closer to the lower percentiles, while seasoned professionals with extensive client bases and specialized certifications can command salaries well into the higher percentiles, reflecting their accumulated expertise and value.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $53,370 | $25.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $127,328 | $61.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $109,390 | $52.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $212,213 | $102 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $254,655 | $122.4 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$169,770
Gross Pay
Real Wage (Purchasing Power)
$169,770
Adjusted for COL (100)
The average annual salary of $169,770 in Philadelphia-Camden-Wilmington aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Personal Financial Advisor's salary in this region is equivalent to the national average, offering a stable financial standing without the added pressure of a significantly higher or lower cost of living.
Job Market Context
7,370
Total Jobs
2.569
Per 1K Jobs
1.46
Location Quotient
With a location quotient of 1.46, Philadelphia-Camden-Wilmington, PA-NJ-DE-MD has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
With a location quotient of 1.46, Philadelphia-Camden-Wilmington demonstrates a notable concentration of Personal Financial Advisors relative to the national landscape. This suggests a competitive yet opportunity-rich environment where demand for skilled advisors is higher than the national average, potentially leading to more specialized roles and a dynamic job market.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Trenton-Princeton, NJ Personal Financial Advisors Salary | $144,440↓ 15% | 28 mi |
| Allentown-Bethlehem-Easton, PA-NJ Personal Financial Advisors Salary | $161,700↓ 5% | 47 mi |
| Sussex Delaware nonmetropolitan area Personal Financial Advisors Salary | $107,900↓ 36% | 47 mi |
| Reading, PA Personal Financial Advisors Salary | $180,480↑ 6% | 48 mi |
Comparing salaries near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
The median annual salary for a Personal Financial Advisors in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is $169,770. This typically ranges from $53,370 for entry-level positions to $254,655 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 5.9% higher than the national median of $160,360.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a lucrative place for Personal Financial Advisors?
Yes, it is a lucrative location for Personal Financial Advisors.The average salary of $169,770 is notably higher than the national average, and the cost of living is on par with the national average, indicating strong earning potential.
Is Philadelphia-Camden-Wilmington, PA-NJ-DE-MD a good place to live for Personal Financial Advisors?
The Cost of Living Index in Philadelphia-Camden-Wilmington, PA-NJ-DE-MD is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Philadelphia-Camden-Wilmington, PA-NJ-DE-MD?
Some top paying nearby cities include Trenton-Princeton, NJ ($144,440) and Allentown-Bethlehem-Easton, PA-NJ.
How does the Philadelphia-Camden-Wilmington salary compare to the national average?
Personal Financial Advisors in Philadelphia-Camden-Wilmington earn an average of $169,770 annually, which is $9,410 more than the national average of $160,360.
What is the concentration of Personal Financial Advisors in this region?
The region has a location quotient of 1.46, meaning there are 46% more Personal Financial Advisors per worker than the national average, indicating a higher concentration.
How does the cost of living affect the salary in Philadelphia-Camden-Wilmington?
The cost of living in Philadelphia-Camden-Wilmington is exactly at the national average (index of 100), so the higher salary offers equivalent or better purchasing power compared to national averages.
What does the total local workforce number signify?
A total local workforce of 7,370 Personal Financial Advisors suggests a substantial and established presence of professionals in this field within the region.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 7,370 employees in the Philadelphia-Camden-Wilmington, PA-NJ-DE-MD area with a job density of 2.569 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 Philadelphia-Camden-Wilmington, PA-NJ-DE-MD