Average Personal Financial Advisors Salary in Scranton--Wilkes-Barre, PA
Personal Financial Advisors in Scranton--Wilkes-Barre, PA, earn an impressive average annual salary of $168,710, surpassing the national average of $160,360. This elevated compensation reflects the specialized skills and fiduciary responsibilities inherent in financial advising, potentially influenced by local economic factors and the demand for expert financial guidance within the region.
Executive Summary
- Average Salary: $168,710 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $253,065.
- Outlook: With a local workforce of 250 Personal Financial Advisors and a Location Quotient of 0.55, the job market in Scranton--Wilkes-Barre, PA, indicates a moderate concentration relative to the national average. While not a primary hub for this profession, the presence of a dedicated workforce suggests a stable demand for financial advisory services, offering consistent opportunities for professionals in the area.
Salary Overview
The average Personal Financial Advisors in Scranton--Wilkes-Barre, PA earns+5.2%above the national average.
$81.1
$3,244
$14,059
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Scranton--Wilkes-Barre, PA is not provided, the Personal Financial Advisor field nationally has experienced consistent growth over the past four years. This trend is driven by an aging population seeking retirement planning and increased complexity in financial markets, suggesting that salaries in Scranton--Wilkes-Barre have likely seen a positive trajectory, mirroring national advancements.
Personal Financial Advisors Salary Distribution in Scranton--Wilkes-Barre, PA
Salary progression for Personal Financial Advisors is significantly influenced by experience and demonstrated success. Entry-level positions typically command lower salaries, while seasoned advisors with established client bases and specialized certifications can achieve earnings well above the average. The widening percentile gaps in compensation clearly signify the career progression and earning potential available as advisors gain expertise and build their professional reputation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $37,590 | $18.1 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $126,533 | $60.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $101,810 | $48.9 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $210,888 | $101.4 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $253,065 | $121.7 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$168,710
Gross Pay
Real Wage (Purchasing Power)
$168,710
Adjusted for COL (100)
The average annual salary of $168,710 in Scranton--Wilkes-Barre, PA, is particularly attractive given the local Cost of Living Index stands at 100, which is precisely the national average. This means that the purchasing power of an advisor's salary in this region is equivalent to the national standard, allowing for a comfortable lifestyle without the premium often associated with higher-than-average salaries in more expensive metropolitan areas.
Job Market Context
250
Total Jobs
0.971
Per 1K Jobs
0.55
Location Quotient
Scranton--Wilkes-Barre, PA has 0.55x the national average concentration of Personal Financial Advisors jobs. This means there are fewer opportunities per capita here compared to the U.S. average — competition for roles may be higher.
The Location Quotient of 0.55 for Personal Financial Advisors in Scranton--Wilkes-Barre, PA, suggests that the profession is less concentrated locally compared to the national landscape. This indicates a potentially less saturated market, which could translate to greater opportunities for skilled advisors to establish themselves and capture market share, though it also implies a smaller overall pool of specialists.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Binghamton, NY Personal Financial Advisors Salary | $142,630↓ 15% | 50 mi |
| Allentown-Bethlehem-Easton, PA-NJ Personal Financial Advisors Salary | $161,700↓ 4% | 57 mi |
| Southwest New York nonmetropolitan area Personal Financial Advisors Salary | $151,080↓ 10% | 64 mi |
| Central East New York nonmetropolitan area Personal Financial Advisors Salary | $154,830↓ 8% | 64 mi |
| Capital/Northern New York nonmetropolitan area Personal Financial Advisors Salary | $151,470↓ 10% | 64 mi |
Comparing salaries near Scranton--Wilkes-Barre, PA
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Scranton--Wilkes-Barre, PA?
The median annual salary for a Personal Financial Advisors in Scranton--Wilkes-Barre, PA is $168,710. This typically ranges from $37,590 for entry-level positions to $253,065 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Scranton--Wilkes-Barre, PA is 5.2% higher than the national median of $160,360.
Is Scranton--Wilkes-Barre, PA a lucrative place for Personal Financial Advisorss?
Yes, it offers a lucrative environment for Personal Financial Advisors.The average salary significantly exceeds the national average, and the cost of living is on par with the national index, enhancing the real value of earnings.
Is Scranton--Wilkes-Barre, PA a good place to live for Personal Financial Advisors?
The Cost of Living Index in Scranton--Wilkes-Barre, PA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Scranton--Wilkes-Barre, PA?
Some top paying nearby cities include Binghamton, NY ($142,630) and Allentown-Bethlehem-Easton, PA-NJ.
How does the Scranton--Wilkes-Barre salary compare to the national average?
Personal Financial Advisors in Scranton--Wilkes-Barre, PA, earn an average of $168,710 annually, which is higher than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Scranton--Wilkes-Barre, PA?
The Location Quotient is 0.55, meaning the concentration of Personal Financial Advisors in Scranton--Wilkes-Barre, PA, is about half the national average.
Does the cost of living affect the value of a Personal Financial Advisor's salary in Scranton--Wilkes-Barre, PA?
No, the cost of living in Scranton--Wilkes-Barre, PA, is exactly at the national average (100), so the salary of $168,710 has the same purchasing power as it would nationally.
What does a Location Quotient of 0.55 imply for job opportunities?
A Location Quotient below 1.0, like 0.55, suggests that Personal Financial Advisors are less concentrated in Scranton--Wilkes-Barre, PA, compared to the nation, potentially indicating a less competitive but also smaller job market.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 250 employees in the Scranton--Wilkes-Barre, PA area with a job density of 0.971 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 Scranton--Wilkes-Barre, PA