Average Personal Financial Advisors Salary in St. Cloud, MN
Personal Financial Advisors in St. Cloud, MN earn an average annual salary of $116,290. 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 Midwestern city. Factors such as the cost of doing business and the specific client base in the region likely contribute to this pay differential.
Executive Summary
- Average Salary: $116,290 per year.
- Growth Trend: Salaries have shifted 9.6% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $174,435.
- Outlook: With a local workforce of 210 Personal Financial Advisors, St. Cloud presents a moderately sized professional community. The Location Quotient of 1.15 indicates a slightly higher concentration of these professionals compared to the national average, suggesting a stable, albeit not booming, demand for their services within the area. The presence of 2.022 jobs per 1,000 workers further supports a consistent need for financial advisory expertise.
Salary Overview
The average Personal Financial Advisors in St. Cloud, MN earns-27.5%below the national average.
$55.9
$2,236
$9,691
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for St. Cloud 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, evolving client needs for financial planning, and inflation typically drive an upward trajectory in compensation for experienced professionals in this field.
Personal Financial Advisors Salary Distribution in St. Cloud, MN
The salary landscape for Personal Financial Advisors in St. Cloud, MN, shows a clear progression based on experience. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned advisors with extensive client portfolios and specialized expertise can expect to earn significantly more. The percentile gaps in earnings highlight the substantial career advancement opportunities and earning potential available as advisors gain experience and build their reputation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $40,890 | $19.7 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $87,218 | $41.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $91,950 | $44.2 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $145,363 | $69.9 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $174,435 | $83.9 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$116,290
Gross Pay
Real Wage (Purchasing Power)
$116,290
Adjusted for COL (100)
The average annual salary of $116,290 for Personal Financial Advisors in St. Cloud aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of an advisor's salary in St. Cloud is equivalent to the national average, making it neither exceptionally advantageous nor disadvantageous from a cost-of-living perspective. Financial advisors can expect their earnings to cover standard living expenses without significant strain or surplus compared to national benchmarks.
Job Market Context
210
Total Jobs
2.022
Per 1K Jobs
1.15
Location Quotient
With a location quotient of 1.15, St. Cloud, MN has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
The Location Quotient of 1.15 for Personal Financial Advisors in St. Cloud signifies a modest concentration of these professionals relative to the national average. This suggests that while the profession is well-represented and in demand, the market is not oversaturated. Advisors entering this market may find a competitive but accessible environment, with opportunities to establish themselves without facing the intense competition found in more concentrated metropolitan areas.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Northwest Minnesota nonmetropolitan area Personal Financial Advisors Salary | $91,610↓ 21% | 17 mi |
| Southeast Minnesota nonmetropolitan area Personal Financial Advisors Salary | $112,600↓ 3% | 17 mi |
| Southwest Minnesota nonmetropolitan area Personal Financial Advisors Salary | $119,650↑ 3% | 17 mi |
| Minneapolis-St. Paul-Bloomington, MN-WI Personal Financial Advisors Salary | $142,780↑ 23% | 59 mi |
Comparing salaries near St. Cloud, MN
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in St. Cloud, MN?
The median annual salary for a Personal Financial Advisors in St. Cloud, MN is $116,290. This typically ranges from $40,890 for entry-level positions to $174,435 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in St. Cloud, MN is 27.5% lower than the national median of $160,360.
Is St. Cloud, MN a lucrative place for Personal Financial Advisors?
No, not exceptionally lucrative compared to the national average.While the average salary of $116,290 is substantial, it falls below the national average of $160,360. However, the cost of living being at the national average means the salary's purchasing power is standard.
Is St. Cloud, MN a good place to live for Personal Financial Advisors?
The Cost of Living Index in St. Cloud, MN is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near St. Cloud, MN?
Some top paying nearby cities include Northwest Minnesota nonmetropolitan area ($91,610) and Southeast Minnesota nonmetropolitan area.
How does the St. Cloud salary compare to the national average?
The average salary for Personal Financial Advisors in St. Cloud, MN is $116,290, which is lower than the national average of $160,360.
What is the cost of living in St. Cloud, MN?
St. Cloud, MN has a cost of living index of 100, which is exactly the national average.
How concentrated is the Personal Financial Advisor job market in St. Cloud?
The market shows a slight concentration with a Location Quotient of 1.15, indicating a bit more prevalence of Personal Financial Advisors than the national average.
What is the total number of Personal Financial Advisors in St. Cloud?
There are approximately 210 Personal Financial Advisors working in St. Cloud, MN.
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 St. Cloud, MN area with a job density of 2.022 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 St. Cloud, MN