Average Personal Financial Advisors Salary in Portland-South Portland, ME
Personal Financial Advisors in Portland-South Portland, ME, earn an impressive average annual salary of $179,990, significantly exceeding the national average of $160,360. This elevated compensation reflects the specialized demand and potentially higher client asset values within the region, indicating a robust local market for financial expertise.
Executive Summary
- Average Salary: $179,990 per year.
- Growth Trend: Salaries have shifted 7.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $269,985.
- Outlook: With a total local workforce of 530 Personal Financial Advisors, the market in Portland-South Portland, ME, demonstrates a healthy concentration. The Location Quotient of 1.06 suggests that this profession is slightly more prevalent here than the national average, indicating stable demand and a well-established presence for financial advisory services.
Salary Overview
The average Personal Financial Advisors in Portland-South Portland, ME earns+12.2%above the national average.
$86.5
$3,461
$14,999
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the average salary for Personal Financial Advisors in Portland-South Portland, ME, has experienced consistent growth over the past four years, mirroring national trends of increasing demand for financial planning services and inflation adjustments. This upward trajectory suggests a positive and evolving job market for professionals in this field.
Personal Financial Advisors Salary Distribution in Portland-South Portland, ME
The salary progression for Personal Financial Advisors in Portland-South Portland, ME, typically scales significantly with experience. Entry-level positions may start closer to the lower percentiles, while seasoned advisors with extensive client portfolios and proven track records command salaries in the upper percentiles. These percentile gaps highlight the substantial career growth and earning potential available through dedicated experience and skill development.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,830 | $24 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $134,993 | $64.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $103,450 | $49.7 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $224,988 | $108.2 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $269,985 | $129.8 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$179,990
Gross Pay
Real Wage (Purchasing Power)
$179,990
Adjusted for COL (100)
The nominal average salary of $179,990 in Portland-South Portland, ME, is perfectly aligned with the national average cost of living, indicated by an index of 100. This means that the purchasing power of an advisor's income in this location is equivalent to the national standard, making the reported salary highly competitive and sustainable within the local economic environment.
Job Market Context
530
Total Jobs
1.854
Per 1K Jobs
1.06
Location Quotient
With a location quotient of 1.06, Portland-South Portland, ME has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
The Location Quotient of 1.06 for Personal Financial Advisors in Portland-South Portland, ME, indicates a market that is slightly more concentrated than the national average. This suggests that while the profession is well-represented and in demand, the competition may be moderately higher, requiring advisors to differentiate themselves through specialized skills or exceptional client service to thrive.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Central New Hampshire nonmetropolitan area Personal Financial Advisors Salary | $109,760↓ 39% | 67 mi |
| Northern New Hampshire nonmetropolitan area Personal Financial Advisors Salary | $123,760↓ 31% | 67 mi |
| Southwestern New Hampshire nonmetropolitan area Personal Financial Advisors Salary | $98,590↓ 45% | 67 mi |
| Manchester-Nashua, NH Personal Financial Advisors Salary | $95,630↓ 47% | 76 mi |
Comparing salaries near Portland-South Portland, ME
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Portland-South Portland, ME?
The median annual salary for a Personal Financial Advisors in Portland-South Portland, ME is $179,990. This typically ranges from $49,830 for entry-level positions to $269,985 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Portland-South Portland, ME is 12.2% higher than the national median of $160,360.
Is Portland-South Portland, ME a lucrative place for Personal Financial Advisors?
Yes, it is a lucrative location for Personal Financial Advisors.The average salary of $179,990 significantly surpasses the national average, and the cost of living is on par with the national average, indicating strong earning potential.
Is Portland-South Portland, ME a good place to live for Personal Financial Advisors?
The Cost of Living Index in Portland-South Portland, ME is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Portland-South Portland, ME?
Some top paying nearby cities include Central New Hampshire nonmetropolitan area ($109,760) and Northern New Hampshire nonmetropolitan area.
How does the Portland-South Portland, ME salary compare to the national average?
Personal Financial Advisors in Portland-South Portland, ME, earn an average of $179,990 annually, which is $19,630 higher than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Portland-South Portland, ME?
The Location Quotient is 1.06, meaning the concentration of Personal Financial Advisors in Portland-South Portland, ME, is slightly higher than the national average.
How does the cost of living affect the Portland-South Portland, ME salary?
With a Cost of Living Index of 100, the salary of $179,990 in Portland-South Portland, ME, has the same purchasing power as the national average salary in a location with a national average cost of living.
What is the total number of Personal Financial Advisors in the Portland-South Portland, ME area?
There are approximately 530 Personal Financial Advisors working in the Portland-South Portland, ME metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 530 employees in the Portland-South Portland, ME area with a job density of 1.854 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 Portland-South Portland, ME