Average Personal Financial Advisors Salary in Spokane-Spokane Valley, WA
Personal Financial Advisors in Spokane-Spokane Valley, WA, earn an average annual salary of $127,770. This figure is notably below the national average of $160,360, suggesting that local market dynamics and demand play a significant role in compensation within this region. Factors such as the local economic landscape and the concentration of financial services firms likely influence this pay scale.
Executive Summary
- Average Salary: $127,770 per year.
- Growth Trend: Salaries have shifted 7.8% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $196,880.
- Outlook: With a total local workforce of 250 Personal Financial Advisors, the Spokane-Spokane Valley market presents a moderately sized employment pool. The Location Quotient of 0.55 indicates that this profession is less concentrated here compared to the national average, suggesting a potentially stable but not overly saturated job market for these professionals.
Salary Overview
The average Personal Financial Advisors in Spokane-Spokane Valley, WA earns-20.3%below the national average.
$61.4
$2,457
$10,648
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is generally assumed that the field of Personal Financial Advising has experienced steady growth over the past four years, driven by increasing demand for financial planning services. This trend likely translates to a gradual increase in average salaries for Personal Financial Advisors in Spokane-Spokane Valley, mirroring national patterns of wage appreciation in specialized financial roles.
Personal Financial Advisors Salary Distribution in Spokane-Spokane Valley, WA
Salary progression for Personal Financial Advisors in Spokane-Spokane Valley typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned professionals with a proven track record and specialized expertise can command salaries significantly higher than the average. The widening gap between entry-level and senior-level salaries reflects the value placed on accumulated knowledge, client portfolios, and demonstrated success in the field.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $53,030 | $25.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $95,828 | $46.1 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $89,540 | $43 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $159,713 | $76.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $196,880 | $94.7 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$127,770
Gross Pay
Real Wage (Purchasing Power)
$127,770
Adjusted for COL (100)
The average annual salary of $127,770 for Personal Financial Advisors in Spokane-Spokane Valley aligns perfectly with the national average Cost of Living Index of 100. This means that the purchasing power of an advisor's salary in Spokane is equivalent to the national average, indicating that while the nominal salary is lower than the national average, it is balanced by the local cost of living.
Job Market Context
250
Total Jobs
0.966
Per 1K Jobs
0.55
Location Quotient
Spokane-Spokane Valley, WA 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 Spokane-Spokane Valley signifies that the concentration of these professionals is less than half of the national average. This suggests that the job market may be less competitive, offering potential opportunities for those looking to enter or advance in the field without facing the same level of saturation found in more concentrated metropolitan areas.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Coeur d'Alene, ID Personal Financial Advisors Salary | $135,900↑ 6% | 30 mi |
Comparing salaries near Spokane-Spokane Valley, WA
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Spokane-Spokane Valley, WA?
The median annual salary for a Personal Financial Advisors in Spokane-Spokane Valley, WA is $127,770. This typically ranges from $53,030 for entry-level positions to $196,880 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Spokane-Spokane Valley, WA is 20.3% lower than the national median of $160,360.
Is Spokane-Spokane Valley, WA a lucrative place for Personal Financial Advisors?
No, not compared to the national average.While the average salary of $127,770 is substantial, it falls below the national average of $160,360. However, the cost of living is also at the national average, making the salary's purchasing power equivalent nationally.
Is Spokane-Spokane Valley, WA a good place to live for Personal Financial Advisors?
The Cost of Living Index in Spokane-Spokane Valley, WA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Spokane-Spokane Valley, WA?
Some top paying nearby cities include Coeur d'Alene, ID ($135,900) and others.
How does the Spokane-Spokane Valley salary compare to the national average?
The average annual salary for Personal Financial Advisors in Spokane-Spokane Valley is $127,770, which is lower than the national average of $160,360.
What is the cost of living in Spokane-Spokane Valley, WA?
The Cost of Living Index in Spokane-Spokane Valley is 100, which is exactly the national average.
How concentrated is the Personal Financial Advisor job market in Spokane-Spokane Valley?
The job market is less concentrated than the national average, with a Location Quotient of 0.55, indicating fewer advisors per capita relative to the rest of the country.
How many Personal Financial Advisors are there in Spokane-Spokane Valley?
There are approximately 250 Personal Financial Advisors employed in the Spokane-Spokane Valley area.
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 Spokane-Spokane Valley, WA area with a job density of 0.966 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 Spokane-Spokane Valley, WA