Average Personal Financial Advisors Salary in Syracuse, NY
Personal Financial Advisors in Syracuse, NY, earn an average annual salary of $144,720. This figure is notably below the national average of $160,360, suggesting that local market dynamics and potentially a lower cost of living influence compensation levels in this New York city. While the nominal salary is substantial, understanding its local purchasing power is key.
Executive Summary
- Average Salary: $144,720 per year.
- Growth Trend: Salaries have shifted 2.5% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $217,080.
- Outlook: The Syracuse job market for Personal Financial Advisors shows a moderate concentration, with a Location Quotient of 0.7, indicating a slightly lower presence compared to the national average. With a local workforce of 360 professionals in this role, the demand appears stable rather than rapidly expanding, suggesting a mature market where opportunities may arise from attrition or steady growth.
Salary Overview
The average Personal Financial Advisors in Syracuse, NY earns-9.8%below the national average.
$69.6
$2,783
$12,060
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Syracuse is not provided, it's reasonable to assume that Personal Financial Advisor salaries in the region have experienced a gradual upward trend over the past four years, mirroring national patterns. Economic shifts, evolving client needs for financial planning, and inflation likely contribute to modest annual salary increases for experienced professionals in this field.
Personal Financial Advisors Salary Distribution in Syracuse, NY
Career progression for Personal Financial Advisors in Syracuse significantly impacts earning potential. Entry-level positions typically start at a lower percentile, perhaps in the $90,000-$110,000 range, while seasoned advisors with extensive client bases and specialized expertise can command salaries well into the $180,000+ range, representing the higher percentiles and demonstrating substantial career growth.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $59,160 | $28.4 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $108,540 | $52.2 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $82,380 | $39.6 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $180,900 | $87 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $217,080 | $104.4 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$144,720
Gross Pay
Real Wage (Purchasing Power)
$144,720
Adjusted for COL (100)
The average annual salary of $144,720 in Syracuse 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 Syracuse is equivalent to the national average, offering a balanced financial landscape where earnings effectively match the general cost of goods and services.
Job Market Context
360
Total Jobs
1.231
Per 1K Jobs
0.7
Location Quotient
Syracuse, NY has 0.70x 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 0.7 for Personal Financial Advisors in Syracuse suggests that the profession is slightly less concentrated than the national average. This implies that while the market is not saturated, there isn't an overwhelming demand driving up salaries significantly above the national benchmark. It indicates a balanced supply and demand environment for these financial experts.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Ithaca, NY Personal Financial Advisors Salary | $154,480↑ 7% | 45 mi |
| Utica-Rome, NY Personal Financial Advisors Salary | $177,190↑ 22% | 46 mi |
| Binghamton, NY Personal Financial Advisors Salary | $142,630↓ 1% | 66 mi |
| Elmira, NY Personal Financial Advisors Salary | $130,340↓ 10% | 74 mi |
Comparing salaries near Syracuse, NY
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Syracuse, NY?
The median annual salary for a Personal Financial Advisors in Syracuse, NY is $144,720. This typically ranges from $59,160 for entry-level positions to $217,080 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Syracuse, NY is 9.8% lower than the national median of $160,360.
Is Syracuse, NY a lucrative place for Personal Financial Advisors?
Yes, with caveats.Syracuse offers a strong average salary of $144,720, which holds national average purchasing power due to its Cost of Living Index. However, it is below the national average salary for the role, indicating less competitive compensation compared to other major markets.
Is Syracuse, NY a good place to live for Personal Financial Advisors?
The Cost of Living Index in Syracuse, NY is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Syracuse, NY?
Some top paying nearby cities include Ithaca, NY ($154,480) and Utica-Rome, NY.
How does the Syracuse salary compare to the national average?
The average salary for Personal Financial Advisors in Syracuse, NY is $144,720, which is approximately 9.7% lower than the national average of $160,360.
What is the cost of living in Syracuse, NY for financial advisors?
Syracuse, NY has a Cost of Living Index of 100, which is exactly the national average. This means your salary of $144,720 will have the same purchasing power as it would nationally.
How many Personal Financial Advisors are there in Syracuse, NY?
There are approximately 360 Personal Financial Advisors working in Syracuse, NY, representing a local workforce concentration that is slightly below the national average.
What is the job market like for Personal Financial Advisors in Syracuse?
The job market is moderately concentrated, with a Location Quotient of 0.7. This suggests a stable, rather than rapidly growing, demand for financial advisors in the area.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 360 employees in the Syracuse, NY area with a job density of 1.231 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 Syracuse, NY