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Average Personal Financial Advisors Salary in Sioux Falls, SD-MN

Personal Financial Advisors in Sioux Falls, SD-MN earn an impressive average annual salary of $165,130, slightly exceeding the national average of $160,360. This robust compensation reflects the specialized skills and fiduciary responsibilities inherent in managing client finances within the local economic landscape.

Executive Summary

  • Average Salary: $165,130 per year.
  • Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $247,695.
  • Outlook: With a local workforce of 260 Personal Financial Advisors, Sioux Falls presents a stable, albeit not hyper-concentrated, market. The Location Quotient of 0.86 suggests a presence that is close to the national average, indicating a steady demand for these professionals without an overwhelming surplus.
2024 Market Data

Salary Overview

$165,130

The average Personal Financial Advisors in Sioux Falls, SD-MN earns+3.0%above the national average.

BreakdownBased on 40h/week
Hourly

$79.4

Weekly

$3,176

Monthly

$13,761

Personal Financial Advisors Salary Distribution in Sioux Falls, SD-MN

The career trajectory for Personal Financial Advisors typically involves significant salary progression. Entry-level positions may start at a lower percentile, but with experience, advisors can ascend to senior roles commanding higher salaries. The gap between entry-level and senior compensation reflects the increasing value placed on expertise, client portfolios managed, and proven success.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$76,790$36.9
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$123,848$59.5
ManagerOversees team, compliance, and project delivery.50% (Median)$120,580$58
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$206,413$99.2
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$247,695$119.1

Detailed Personal Financial Advisors Market Analysis

Relocation Context

Nominal Salary

$165,130

Gross Pay

Real Wage (Purchasing Power)

$165,130

Adjusted for COL (100)

The average annual salary of $165,130 in Sioux Falls, SD-MN 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 Sioux Falls is equivalent to the national average, offering a stable financial foundation for residents.

Job Market Context

260

Total Jobs

1.512

Per 1K Jobs

0.86

Location Quotient

Below Average

Sioux Falls, SD-MN has 0.86x 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.

A Location Quotient of 0.86 for Personal Financial Advisors in Sioux Falls indicates that the concentration of these professionals is slightly below the national average. This suggests a healthy job market where demand is met by a comparable supply, offering opportunities for skilled advisors without intense competition.

Nearby Job Markets

Nearby Cities for Personal Financial Advisors

CitySalaryDist.
Sioux City, IA-NE-SD Personal Financial Advisors Salary$136,810↓ 17%74 mi

Comparing salaries near Sioux Falls, SD-MN

Hiring Personal Financial Advisorss?

Frequently Asked Questions

How much does a Personal Financial Advisors make in Sioux Falls, SD-MN?

The median annual salary for a Personal Financial Advisors in Sioux Falls, SD-MN is $165,130. This typically ranges from $76,790 for entry-level positions to $247,695 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Sioux Falls, SD-MN is 3.0% higher than the national median of $160,360.

Is Sioux Falls, SD-MN a lucrative place for Personal Financial Advisors?

Yes, Sioux Falls offers a lucrative environment for Personal Financial Advisors.The average salary of $165,130 is higher than the national average, and the cost of living is on par with the national average, indicating strong earning potential and purchasing power.

Is Sioux Falls, SD-MN a good place to live for Personal Financial Advisors?

The Cost of Living Index in Sioux Falls, SD-MN is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Sioux Falls, SD-MN?

Some top paying nearby cities include Sioux City, IA-NE-SD ($136,810) and others.

What is the average salary for a Personal Financial Advisor in Sioux Falls, SD-MN?

The average annual salary for a Personal Financial Advisor in Sioux Falls, SD-MN is $165,130.

How does the Sioux Falls salary compare to the national average?

The average salary in Sioux Falls ($165,130) is slightly higher than the national average ($160,360).

What is the Cost of Living Index in Sioux Falls, SD-MN?

The Cost of Living Index in Sioux Falls, SD-MN is 100, which is the national average.

How concentrated is the Personal Financial Advisor job market in Sioux Falls?

The job market concentration, measured by the Location Quotient, is 0.86, indicating a presence slightly below the national average.

Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Sioux Falls, SD-MN area with a job density of 1.512 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Semantic Salary Analysis for Personal Financial Advisors • Data source: BLS OEWS 2024 •Jobs in Sioux Falls, SD-MN