Average Personal Financial Advisors Salary in Raleigh-Cary, NC
Personal Financial Advisors in Raleigh-Cary, NC, command an impressive average annual salary of $206,920, significantly outpacing the national average of $160,360. This robust compensation is largely driven by the region's growing economy and a concentrated demand for specialized financial expertise, making it a prime location for these professionals.
Executive Summary
- Average Salary: $206,920 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $310,380.
- Outlook: With a local workforce of 1,910 Personal Financial Advisors and a Location Quotient of 1.51, Raleigh-Cary demonstrates a strong and concentrated demand for this profession. This indicates a market where the number of advisors relative to the national average is notably higher, suggesting a healthy job market and potential for continued growth in employment opportunities.
Salary Overview
The average Personal Financial Advisors in Raleigh-Cary, NC earns+29.0%above the national average.
$99.5
$3,979
$17,243
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 Raleigh-Cary have experienced consistent growth over the past four years, mirroring national trends. Factors such as increasing demand for financial planning services, evolving market complexities, and a robust local economy likely contribute to upward salary trajectories.
Personal Financial Advisors Salary Distribution in Raleigh-Cary, NC
Career progression for Personal Financial Advisors in Raleigh-Cary, NC, is clearly reflected in salary differentials across experience levels. Entry-level advisors typically earn at the lower percentiles, while seasoned professionals with extensive client portfolios and specialized knowledge can command salaries in the upper percentiles, signifying substantial earning potential as expertise and tenure increase.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,270 | $23.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $155,190 | $74.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $106,470 | $51.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $258,650 | $124.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $310,380 | $149.2 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$206,920
Gross Pay
Real Wage (Purchasing Power)
$206,920
Adjusted for COL (100)
The average annual salary of $206,920 in Raleigh-Cary, NC, offers excellent purchasing power, especially considering the local Cost of Living Index is precisely at the national average of 100. This means that the high nominal income translates directly into a strong real income, allowing advisors to enjoy a comfortable lifestyle without the added financial strain of a higher cost of living.
Job Market Context
1,910
Total Jobs
2.64
Per 1K Jobs
1.51
Location Quotient
Raleigh-Cary, NC has 1.5x the national concentration of Personal Financial Advisors jobs — a major employment hub for this role. Job seekers will find significantly more opportunities here than in most other areas.
A Location Quotient of 1.51 for Personal Financial Advisors in Raleigh-Cary, NC, signifies that the concentration of these professionals is 51% higher than the national average. This suggests a competitive yet abundant job market, indicating that while there are many opportunities, there is also a significant pool of talent, driving the need for specialized skills and experience to stand out.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Durham-Chapel Hill, NC Personal Financial Advisors Salary | $87,340↓ 58% | 18 mi |
| Rocky Mount, NC Personal Financial Advisors Salary | $156,820↓ 24% | 48 mi |
| Burlington, NC Personal Financial Advisors Salary | $172,490↓ 17% | 49 mi |
| Fayetteville, NC Personal Financial Advisors Salary | $139,270↓ 33% | 55 mi |
Comparing salaries near Raleigh-Cary, NC
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Raleigh-Cary, NC?
The median annual salary for a Personal Financial Advisors in Raleigh-Cary, NC is $206,920. This typically ranges from $49,270 for entry-level positions to $310,380 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Raleigh-Cary, NC is 29.0% higher than the national median of $160,360.
Is Raleigh-Cary, NC a lucrative place for Personal Financial Advisorss?
Yes, Raleigh-Cary, NC is a highly lucrative location for Personal Financial Advisors.The average salary significantly exceeds the national average, and the cost of living is on par with the national average, offering excellent earning potential and purchasing power.
Is Raleigh-Cary, NC a good place to live for Personal Financial Advisors?
The Cost of Living Index in Raleigh-Cary, NC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Raleigh-Cary, NC?
Some top paying nearby cities include Durham-Chapel Hill, NC ($87,340) and Rocky Mount, NC.
What is the average salary for a Personal Financial Advisor in Raleigh-Cary, NC?
The average annual salary for a Personal Financial Advisor in Raleigh-Cary, NC, is $206,920.
How does the salary compare to the national average?
The average salary in Raleigh-Cary, NC, is approximately $46,560 higher than the national average of $160,360.
Is the job market for Personal Financial Advisors strong in Raleigh-Cary, NC?
Yes, the market is strong, indicated by a Location Quotient of 1.51, meaning the concentration of these jobs is significantly higher than the national average.
How does the cost of living affect the salary in Raleigh-Cary, NC?
The cost of living in Raleigh-Cary, NC, is at the national average (100), meaning the high salary of $206,920 offers substantial real income and purchasing power.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 1,910 employees in the Raleigh-Cary, NC area with a job density of 2.64 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 Raleigh-Cary, NC