Average Personal Financial Advisors Salary in Providence-Warwick, RI-MA
Personal Financial Advisors in Providence-Warwick, RI-MA earn an average annual salary of $120,750. This figure is notably below the national average of $160,360, suggesting that local market dynamics and economic factors specific to the region play a significant role in compensation levels for this profession.
Executive Summary
- Average Salary: $120,750 per year.
- Growth Trend: Salaries have shifted 0.1% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $213,430.
- Outlook: With a local workforce of 1,350 Personal Financial Advisors, Providence-Warwick exhibits a concentration slightly above the national average, indicated by a Location Quotient of 1.09. This suggests a stable, albeit not exceptionally booming, demand for these professionals within the region, reflecting a healthy job market that can support existing talent.
Salary Overview
The average Personal Financial Advisors in Providence-Warwick, RI-MA earns-24.7%below the national average.
$58.1
$2,322
$10,063
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Personal Financial Advisors in Providence-Warwick have experienced gradual growth over the past four years, mirroring national trends. Economic shifts, evolving client needs, and the increasing complexity of financial planning likely contribute to a steady upward trajectory in compensation.
Personal Financial Advisors Salary Distribution in Providence-Warwick, RI-MA
Career progression for Personal Financial Advisors in Providence-Warwick typically correlates with experience. Entry-level positions may start closer to the lower percentiles, while seasoned professionals with a proven track record and specialized expertise can command salaries in the higher percentiles. The salary distribution reflects a clear opportunity for advancement and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $53,470 | $25.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $90,563 | $43.5 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $100,420 | $48.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $150,938 | $72.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $213,430 | $102.6 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$120,750
Gross Pay
Real Wage (Purchasing Power)
$120,750
Adjusted for COL (100)
The average annual salary of $120,750 in Providence-Warwick 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 area is equivalent to the national average, offering a balanced lifestyle without significant financial strain due to living expenses.
Job Market Context
1,350
Total Jobs
1.917
Per 1K Jobs
1.09
Location Quotient
With a location quotient of 1.09, Providence-Warwick, RI-MA has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
A Location Quotient of 1.09 indicates that Personal Financial Advisors are slightly more concentrated in Providence-Warwick than the national average. This suggests a competitive yet stable job market where the demand for these services is robust enough to sustain a slightly higher proportion of professionals compared to the rest of the country.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Massachusetts nonmetropolitan area Personal Financial Advisors Salary | $145,850↑ 21% | 29 mi |
| Worcester, MA Personal Financial Advisors Salary | $152,160↑ 26% | 37 mi |
| Boston-Cambridge-Newton, MA-NH Personal Financial Advisors Salary | $145,990↑ 21% | 38 mi |
| Norwich-New London-Willimantic, CT Personal Financial Advisors Salary | $113,020↓ 6% | 39 mi |
| Barnstable Town, MA Personal Financial Advisors Salary | $150,870↑ 25% | 58 mi |
Comparing salaries near Providence-Warwick, RI-MA
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Providence-Warwick, RI-MA?
The median annual salary for a Personal Financial Advisors in Providence-Warwick, RI-MA is $120,750. This typically ranges from $53,470 for entry-level positions to $213,430 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Providence-Warwick, RI-MA is 24.7% lower than the national median of $160,360.
Is Providence-Warwick, RI-MA a lucrative place for Personal Financial Advisors?
Moderately so.While the average salary of $120,750 is below the national average, it is balanced by a Cost of Living Index of 100, offering average purchasing power. The slightly above-average concentration suggests steady demand.
Is Providence-Warwick, RI-MA a good place to live for Personal Financial Advisors?
The Cost of Living Index in Providence-Warwick, RI-MA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Providence-Warwick, RI-MA?
Some top paying nearby cities include Massachusetts nonmetropolitan area ($145,850) and Worcester, MA.
What is the average salary for a Personal Financial Advisor in Providence-Warwick, RI-MA?
The average annual salary for a Personal Financial Advisor in Providence-Warwick, RI-MA is $120,750.
How does the Providence-Warwick salary compare to the national average?
The average salary in Providence-Warwick ($120,750) is lower than the national average ($160,360).
What is the Cost of Living in Providence-Warwick, RI-MA?
The Cost of Living Index in Providence-Warwick, RI-MA is 100, which is the national average.
How concentrated is the Personal Financial Advisor job market in Providence-Warwick, RI-MA?
The job market is slightly more concentrated than the national average, with a Location Quotient of 1.09, indicating a healthy presence of these professionals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,350 employees in the Providence-Warwick, RI-MA area with a job density of 1.917 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 Providence-Warwick, RI-MA