Average Personal Financial Advisors Salary in Texas
Personal Financial Advisors in Texas earn an average annual salary of $126,020. This figure is notably below the national average of $160,360, reflecting regional economic factors and the specific demand within the state's financial advisory sector. While the nominal salary is lower, understanding the local cost of living is crucial for a complete financial picture.
Executive Summary
- Average Salary: $126,020 per year.
- Growth Trend: Salaries have shifted 26.9% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $229,510.
- Outlook: With a substantial local workforce of 17,570 Personal Financial Advisors, Texas presents a significant market for this profession. The location quotient of 0.72 suggests that while the concentration of these roles is slightly below the national average, the sheer volume indicates a robust and active job market. This indicates a steady demand for skilled advisors across the state.
Salary Overview
The average Personal Financial Advisors in Texas earns-21.4%below the national average.
$60.6
$2,423
$10,502
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data isn't provided, it's reasonable to assume that salaries for Personal Financial Advisors in Texas have experienced growth over the past four years, mirroring national trends. Factors such as increasing demand for financial planning services, evolving market conditions, and inflation likely contribute to a positive salary trajectory for experienced professionals in the state.
Personal Financial Advisors Salary Distribution in Texas
Salary progression for Personal Financial Advisors in Texas typically scales with experience. Entry-level positions will likely command salaries at the lower end of the spectrum, while senior advisors with extensive client bases and specialized expertise can expect to earn significantly more. The gap between entry-level and senior-level salaries represents substantial career growth opportunities and increased earning potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $47,830 | $23 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $94,515 | $45.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $82,180 | $39.5 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $157,525 | $75.7 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $229,510 | $110.3 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$126,020
Gross Pay
Real Wage (Purchasing Power)
$135,505
Adjusted for COL (93)
The average annual salary of $126,020 in Texas needs to be viewed through the lens of its Cost of Living Index of 93. Since this index is below the national average of 100, the purchasing power of a Texas-based advisor's salary is relatively stronger than the nominal figure might suggest. This indicates that while the take-home pay is lower than the national average, the cost of essential goods and services is also reduced.
Job Market Context
17,570
Total Jobs
1.269
Per 1K Jobs
0.72
Location Quotient
Texas has 0.72x 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 0.72 for Personal Financial Advisors in Texas signifies that the profession is slightly less concentrated than the national average. This suggests that while the role is present and vital, it may not be as saturated as in other regions. This could translate to a competitive but potentially rewarding market for new entrants and established professionals seeking opportunities.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Killeen-Temple, TX Personal Financial Advisors Salary | $85,690↓ 32% | 10 mi |
| Waco, TX Personal Financial Advisors Salary | $93,780↓ 26% | 41 mi |
| Austin-Round Rock-San Marcos, TX Personal Financial Advisors Salary | $138,430↑ 10% | 53 mi |
| College Station-Bryan, TX Personal Financial Advisors Salary | $90,660↓ 28% | 82 mi |
Comparing salaries near Texas
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Texas?
The median annual salary for a Personal Financial Advisors in Texas is $126,020. This typically ranges from $47,830 for entry-level positions to $229,510 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Texas is 21.4% lower than the national median of $160,360.
Is Texas a lucrative place for Personal Financial Advisors?
Yes, with a caveat regarding cost of living.Texas offers a substantial average salary of $126,020, which, when adjusted for a cost of living index below the national average, provides good purchasing power. The large workforce also indicates consistent demand for these professionals.
Is Texas a good place to live for Personal Financial Advisors?
With a Cost of Living Index of 93 (lower than the national average of 100), your salary goes further here.
Where are the highest paying cities near Texas?
Some top paying nearby cities include Killeen-Temple, TX ($85,690) and Waco, TX.
How does Texas compare to the national average salary for Personal Financial Advisors?
The average salary for Personal Financial Advisors in Texas is $126,020, which is lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Texas compared to the nation?
Texas has a location quotient of 0.72 for Personal Financial Advisors, indicating a slightly lower concentration compared to the national average.
How does the cost of living in Texas affect the salary of a Personal Financial Advisor?
With a cost of living index of 93 (100 being the national average), the $126,020 salary in Texas offers better purchasing power than the nominal amount might suggest when compared to higher cost-of-living areas.
What is the total number of Personal Financial Advisors working in Texas?
There are approximately 17,570 Personal Financial Advisors employed in Texas.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 17,570 employees in the Texas area with a job density of 1.269 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 Texas