Average Personal Financial Advisors Salary in South Bend-Mishawaka, IN-MI
Personal Financial Advisors in the South Bend-Mishawaka, IN-MI area earn an average annual salary of $126,420. This figure is notably below the national average of $160,360, suggesting that local market dynamics, such as demand and the cost of doing business, may influence compensation levels in this region.
Executive Summary
- Average Salary: $126,420 per year.
- Growth Trend: Salaries have shifted 14.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $189,630.
- Outlook: With a total local workforce of 210 Personal Financial Advisors, the South Bend-Mishawaka market demonstrates a moderate concentration of professionals in this field, as indicated by a Location Quotient of 0.9. While not exceeding the national average, this level suggests a stable, albeit not hyper-concentrated, demand for financial advisory services within the area.
Salary Overview
The average Personal Financial Advisors in South Bend-Mishawaka, IN-MI earns-21.2%below the national average.
$60.8
$2,431
$10,535
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for South Bend-Mishawaka is not provided, it is reasonable to assume that salaries for Personal Financial Advisors in the region have experienced growth over the past four years, mirroring national trends. Economic shifts and evolving client needs likely contribute to a steady upward trajectory in compensation for experienced professionals.
Personal Financial Advisors Salary Distribution in South Bend-Mishawaka, IN-MI
Career progression for Personal Financial Advisors typically correlates with increased earning potential. Entry-level advisors may start at a lower percentile of the salary range, while those with extensive experience, specialized certifications, and a proven track record can command salaries significantly higher than the average, reflecting their value and expertise.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $48,900 | $23.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $94,815 | $45.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $81,710 | $39.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $158,025 | $76 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $189,630 | $91.2 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$126,420
Gross Pay
Real Wage (Purchasing Power)
$126,420
Adjusted for COL (100)
The average annual salary of $126,420 in South Bend-Mishawaka aligns precisely with the national average Cost of Living Index of 100. This means that the purchasing power of an advisor's salary in this region is comparable to the national standard, offering a balanced financial environment for residents.
Job Market Context
210
Total Jobs
1.571
Per 1K Jobs
0.9
Location Quotient
South Bend-Mishawaka, IN-MI has 0.90x 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 0.9 indicates that the concentration of Personal Financial Advisors in South Bend-Mishawaka is slightly below the national average. This suggests that while the profession is present and supported, the market is not oversaturated, potentially offering opportunities for skilled advisors without intense competition.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Niles, MI Personal Financial Advisors Salary | $156,700↑ 24% | 11 mi |
| Elkhart-Goshen, IN Personal Financial Advisors Salary | $139,280↑ 10% | 16 mi |
| Michigan City-La Porte, IN Personal Financial Advisors Salary | $89,190↓ 29% | 31 mi |
| Kalamazoo-Portage, MI Personal Financial Advisors Salary | $157,250↑ 24% | 54 mi |
Comparing salaries near South Bend-Mishawaka, IN-MI
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in South Bend-Mishawaka, IN-MI?
The median annual salary for a Personal Financial Advisors in South Bend-Mishawaka, IN-MI is $126,420. This typically ranges from $48,900 for entry-level positions to $189,630 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in South Bend-Mishawaka, IN-MI is 21.2% lower than the national median of $160,360.
Is South Bend-Mishawaka, IN-MI a lucrative place for Personal Financial Advisors?
Moderately so, with compensation aligning with the national cost of living.The average salary of $126,420 is below the national average, but the cost of living is also at the national average, creating a balanced financial standing for advisors in the area.
Is South Bend-Mishawaka, IN-MI a good place to live for Personal Financial Advisors?
The Cost of Living Index in South Bend-Mishawaka, IN-MI is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near South Bend-Mishawaka, IN-MI?
Some top paying nearby cities include Niles, MI ($156,700) and Elkhart-Goshen, IN.
How does the South Bend-Mishawaka salary compare to the national average?
The average annual salary for Personal Financial Advisors in South Bend-Mishawaka is $126,420, which is lower than the national average of $160,360.
What is the job concentration for Personal Financial Advisors in South Bend-Mishawaka?
The Location Quotient is 0.9, indicating that the concentration of Personal Financial Advisors in this area is slightly below the national average.
How does the cost of living in South Bend-Mishawaka affect the salary?
With a Cost of Living Index of 100, the local cost of living is at the national average, meaning the $126,420 salary has purchasing power equivalent to the national average.
What does the number of jobs per 1,000 workers signify?
The 1.571 jobs per 1,000 workers metric suggests a steady presence of Personal Financial Advisor roles relative to the overall workforce in South Bend-Mishawaka.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 210 employees in the South Bend-Mishawaka, IN-MI area with a job density of 1.571 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 South Bend-Mishawaka, IN-MI