Average Personal Financial Advisors Salary in St. Louis, MO-IL
Personal Financial Advisors in St. Louis, MO-IL earn an average annual salary of $123,590. This figure is notably below the national average of $160,360, suggesting localized economic factors or market saturation may influence compensation. The specific dynamics of the St. Louis metropolitan area play a crucial role in shaping the earning potential for these financial professionals.
Executive Summary
- Average Salary: $123,590 per year.
- Growth Trend: Salaries have shifted 16.2% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $220,120.
- Outlook: With a local workforce of 2,660 Personal Financial Advisors, St. Louis exhibits a concentration (Location Quotient) of 1.13, indicating a slightly higher presence of these professionals compared to the national average. This suggests a stable, albeit not exceptionally booming, job market with consistent demand for financial advisory services within the region.
Salary Overview
The average Personal Financial Advisors in St. Louis, MO-IL earns-22.9%below the national average.
$59.4
$2,377
$10,299
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that Personal Financial Advisor salaries in St. Louis have experienced gradual growth over the past four years, mirroring national trends. Factors such as evolving financial markets, increased demand for retirement planning, and economic recovery likely contribute to a positive, albeit moderate, upward trajectory in compensation.
Personal Financial Advisors Salary Distribution in St. Louis, MO-IL
The salary landscape for Personal Financial Advisors in St. Louis shows significant variation based on experience. Entry-level positions typically start at the lower end of the pay scale, while seasoned professionals with extensive client portfolios and a proven track record can command salaries well above the average. The percentile gaps in earnings clearly signify the career progression and increased earning potential tied to accumulated expertise and client success.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $49,760 | $23.9 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $92,693 | $44.6 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $78,970 | $38 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $154,488 | $74.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $220,120 | $105.8 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$123,590
Gross Pay
Real Wage (Purchasing Power)
$123,590
Adjusted for COL (100)
An average annual salary of $123,590 in St. Louis, MO-IL aligns perfectly with the national average cost of living index of 100. This means that the purchasing power of a Personal Financial Advisor's income in St. Louis is comparable to that of their counterparts nationwide, offering a stable financial foundation without significant cost-of-living advantages or disadvantages.
Job Market Context
2,660
Total Jobs
1.984
Per 1K Jobs
1.13
Location Quotient
With a location quotient of 1.13, St. Louis, MO-IL has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
The Location Quotient of 1.13 for Personal Financial Advisors in St. Louis signifies a market that is slightly more concentrated than the national average. This suggests that while the demand for these services is present and slightly elevated, the job market may be moderately competitive, with a good number of professionals vying for opportunities.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Springfield, IL Personal Financial Advisors Salary | $135,750↑ 10% | 84 mi |
| Cape Girardeau, MO-IL Personal Financial Advisors Salary | $113,360↓ 8% | 97 mi |
Comparing salaries near St. Louis, MO-IL
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in St. Louis, MO-IL?
The median annual salary for a Personal Financial Advisors in St. Louis, MO-IL is $123,590. This typically ranges from $49,760 for entry-level positions to $220,120 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in St. Louis, MO-IL is 22.9% lower than the national median of $160,360.
Is St. Louis, MO-IL a lucrative place for Personal Financial Advisors?
No, not exceptionally lucrative compared to the national average.While the average salary of $123,590 is substantial, it falls below the national average. However, the cost of living being at the national average means the effective purchasing power is comparable.
Is St. Louis, MO-IL a good place to live for Personal Financial Advisors?
The Cost of Living Index in St. Louis, MO-IL is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near St. Louis, MO-IL?
Some top paying nearby cities include Springfield, IL ($135,750) and Cape Girardeau, MO-IL.
How does the St. Louis Personal Financial Advisor salary compare to the national average?
The average annual salary for Personal Financial Advisors in St. Louis, MO-IL is $123,590, which is lower than the national average of $160,360.
What is the cost of living in St. Louis, MO-IL for Personal Financial Advisors?
The cost of living index in St. Louis, MO-IL is 100, which is exactly the national average, indicating a neutral impact on purchasing power.
How concentrated is the Personal Financial Advisor job market in St. Louis?
St. Louis has a Location Quotient of 1.13 for Personal Financial Advisors, suggesting a slightly higher concentration of these professionals than the national average.
How many Personal Financial Advisors are there in St. Louis, MO-IL?
There are approximately 2,660 Personal Financial Advisors employed in the St. Louis, MO-IL metropolitan area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 2,660 employees in the St. Louis, MO-IL area with a job density of 1.984 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. Louis, MO-IL