Average Personal Financial Advisors Salary in Topeka, KS
Personal Financial Advisors in Topeka, KS, command an average annual salary of $132,830. This figure is notably below the national average of $160,360, suggesting that while the role is present, compensation may be influenced by local economic factors and demand specific to the Topeka market. The cost of living in Topeka aligns perfectly with the national average, making this salary's purchasing power directly comparable.
Executive Summary
- Average Salary: $132,830 per year.
- Growth Trend: Salaries have shifted 55.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $213,020.
- Outlook: The Personal Financial Advisor job market in Topeka, KS, shows a moderate level of concentration, indicated by a Location Quotient of 1.3, which is above the national average. With a local workforce of 260 professionals in this field, the demand appears stable, though not exceptionally high. The presence of 2.283 jobs per 1,000 workers suggests a consistent, albeit not rapidly expanding, need for these financial services within the community.
Salary Overview
The average Personal Financial Advisors in Topeka, KS earns-17.2%below the national average.
$63.9
$2,554
$11,069
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Topeka is not provided, it is reasonable to assume that Personal Financial Advisor salaries in Topeka, KS, have experienced growth over the past four years, mirroring national trends. Economic shifts, evolving client needs, and inflation typically drive salary increases in specialized professional roles. This suggests that the current average of $132,830 may represent an upward trajectory from previous years.
Personal Financial Advisors Salary Distribution in Topeka, KS
The salary range for Personal Financial Advisors in Topeka, KS, will naturally scale with experience. Entry-level positions will likely fall at the lower end of the pay scale, while seasoned professionals with extensive client portfolios and a proven track record can expect to earn significantly more, potentially exceeding the average. The percentile gaps in salary distribution are a clear indicator of career progression and the rewards associated with accumulating expertise and client trust.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $51,060 | $24.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $99,623 | $47.9 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $96,230 | $46.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $166,038 | $79.8 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $213,020 | $102.4 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$132,830
Gross Pay
Real Wage (Purchasing Power)
$132,830
Adjusted for COL (100)
The nominal average salary of $132,830 in Topeka, KS, is perfectly balanced by the local Cost of Living Index of 100, which matches the national average. This means that the purchasing power of a Personal Financial Advisor's income in Topeka is equivalent to the national average. Therefore, relocating to Topeka for this role does not present a significant advantage or disadvantage in terms of real income or lifestyle affordability compared to the national benchmark.
Job Market Context
260
Total Jobs
2.283
Per 1K Jobs
1.3
Location Quotient
With a location quotient of 1.30, Topeka, KS has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
A Location Quotient of 1.3 for Personal Financial Advisors in Topeka, KS, indicates a slightly higher concentration of these professionals compared to the national average. This suggests a moderately competitive market where demand is present and potentially growing, but not saturated. The presence of 260 individuals in this role within Topeka signifies a established professional community, offering opportunities for networking and collaboration.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Lawrence, KS Personal Financial Advisors Salary | $169,600↑ 28% | 24 mi |
| Manhattan, KS Personal Financial Advisors Salary | $123,690↓ 7% | 50 mi |
| Kansas City, MO-KS Personal Financial Advisors Salary | $160,460↑ 21% | 60 mi |
| Kansas nonmetropolitan area Personal Financial Advisors Salary | $179,010↑ 35% | 66 mi |
Comparing salaries near Topeka, KS
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Topeka, KS?
The median annual salary for a Personal Financial Advisors in Topeka, KS is $132,830. This typically ranges from $51,060 for entry-level positions to $213,020 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Topeka, KS is 17.2% lower than the national median of $160,360.
Is Topeka, KS a lucrative place for Personal Financial Advisors?
Yes, with a caveat.Topeka, KS offers a competitive salary of $132,830, which aligns with the national average cost of living. While the salary is below the national average for the role, the balanced cost of living makes it a financially stable location.
Is Topeka, KS a good place to live for Personal Financial Advisors?
The Cost of Living Index in Topeka, KS is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Topeka, KS?
Some top paying nearby cities include Lawrence, KS ($169,600) and Manhattan, KS.
How does Topeka's Personal Financial Advisor salary compare to the national average?
The average annual salary for Personal Financial Advisors in Topeka, KS is $132,830, which is lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Topeka, KS?
Topeka, KS has a Location Quotient of 1.3 for Personal Financial Advisors, indicating a slightly higher concentration than the national average.
How does the cost of living in Topeka affect the salary?
The cost of living in Topeka is 100, which is the national average. This means the $132,830 salary has the same purchasing power as the national average salary.
What is the total number of Personal Financial Advisors in Topeka, KS?
There are approximately 260 Personal Financial Advisors working in Topeka, KS.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 260 employees in the Topeka, KS area with a job density of 2.283 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 Topeka, KS