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Average Personal Financial Advisors Salary in Washington-Arlington-Alexandria, DC-VA-MD-WV

Personal Financial Advisors in the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area earn an impressive average annual salary of $170,870. This figure notably surpasses the national average of $160,360, indicating a premium placed on financial advisory services within this specific region. The robust economic activity and concentration of high-net-worth individuals likely contribute to this elevated compensation.

Executive Summary

  • Average Salary: $170,870 per year.
  • Growth Trend: Salaries have shifted 45.9% ↗ over the last 5 years.
  • Top Earners: Senior professionals (90th percentile) earn up to $256,305.
  • Outlook: The local job market for Personal Financial Advisors in Washington-Arlington-Alexandria is substantial, with a total workforce of 4,320 individuals. While the Location Quotient of 0.79 suggests a slightly lower concentration compared to the national average, the sheer size of the workforce and the number of jobs per 1,000 workers (1.386) point to a stable and active demand for these professionals.
2024 Market Data

Salary Overview

$170,870

The average Personal Financial Advisors in Washington-Arlington-Alexandria, DC-VA-MD-WV earns+6.6%above the national average.

BreakdownBased on 40h/week
Hourly

$82.2

Weekly

$3,286

Monthly

$14,239

Personal Financial Advisors Salary Distribution in Washington-Arlington-Alexandria, DC-VA-MD-WV

Career progression for Personal Financial Advisors is strongly linked to experience. Entry-level positions typically command salaries at the lower end of the spectrum, while seasoned professionals with extensive client portfolios and a proven track record can achieve significantly higher earnings. The percentile gaps in salary distribution clearly signify this career advancement, with senior advisors occupying the top earnings brackets.

Experience LevelMarket PercentileAnnual WageHourly Rate
Associate / AnalystData entry, reporting, supporting senior staff.10% (Entry)$63,500$30.5
Senior AnalystIndependent analysis, forecasting, client interaction.25% (Junior)$128,153$61.6
ManagerOversees team, compliance, and project delivery.50% (Median)$109,520$52.7
Director / VPStrategic planning, budget ownership, risk management.75% (Senior)$213,588$102.7
Executive / PartnerC-level leadership. High-level strategy & relations.90% (Expert)$256,305$123.2

Detailed Personal Financial Advisors Market Analysis

Relocation Context

Nominal Salary

$170,870

Gross Pay

Real Wage (Purchasing Power)

$170,870

Adjusted for COL (100)

The average annual salary of $170,870 in Washington-Arlington-Alexandria 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 this metro area is equivalent to the national average, offering a balanced lifestyle without significant financial strain due to living expenses.

Job Market Context

4,320

Total Jobs

1.386

Per 1K Jobs

0.79

Location Quotient

Below Average

Washington-Arlington-Alexandria, DC-VA-MD-WV has 0.79x 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.

With a Location Quotient of 0.79, the Washington-Arlington-Alexandria area has a slightly lower concentration of Personal Financial Advisors relative to the national average. This suggests that while the market is not oversaturated, there is a healthy presence of these professionals. The demand appears consistent, with 1.386 jobs per 1,000 workers, indicating a competitive yet accessible market for skilled advisors.

Nearby Job Markets

Nearby Cities for Personal Financial Advisors

CitySalaryDist.
Maryland nonmetropolitan area Personal Financial Advisors Salary$118,000↓ 31%17 mi
Baltimore-Columbia-Towson, MD Personal Financial Advisors Salary$168,930↓ 1%35 mi
Lexington Park, MD Personal Financial Advisors Salary$84,620↓ 50%55 mi
Hagerstown-Martinsburg, MD-WV Personal Financial Advisors Salary$119,560↓ 30%63 mi
Winchester, VA-WV Personal Financial Advisors Salary$92,690↓ 46%64 mi

Comparing salaries near Washington-Arlington-Alexandria, DC-VA-MD-WV

Hiring Personal Financial Advisorss?

Frequently Asked Questions

How much does a Personal Financial Advisors make in Washington-Arlington-Alexandria, DC-VA-MD-WV?

The median annual salary for a Personal Financial Advisors in Washington-Arlington-Alexandria, DC-VA-MD-WV is $170,870. This typically ranges from $63,500 for entry-level positions to $256,305 for top-level roles.

How does the salary compare to the national average?

The average salary for this role in Washington-Arlington-Alexandria, DC-VA-MD-WV is 6.6% higher than the national median of $160,360.

Is Washington-Arlington-Alexandria, DC-VA-MD-WV a lucrative place for Personal Financial Advisors?

Yes, it is a lucrative area for Personal Financial Advisors.The average salary of $170,870 significantly exceeds the national average, and the cost of living is on par with the national average, indicating strong earning potential.

Is Washington-Arlington-Alexandria, DC-VA-MD-WV a good place to live for Personal Financial Advisors?

The Cost of Living Index in Washington-Arlington-Alexandria, DC-VA-MD-WV is 100. While higher than average, this often correlates with higher wages.

Where are the highest paying cities near Washington-Arlington-Alexandria, DC-VA-MD-WV?

Some top paying nearby cities include Maryland nonmetropolitan area ($118,000) and Baltimore-Columbia-Towson, MD.

How does the salary compare to the national average?

Personal Financial Advisors in Washington-Arlington-Alexandria earn an average of $170,870 annually, which is higher than the national average of $160,360.

What is the Cost of Living in Washington-Arlington-Alexandria?

The Cost of Living Index for Washington-Arlington-Alexandria is 100, which is exactly the national average.

How concentrated are Personal Financial Advisors in this area?

The Location Quotient for Personal Financial Advisors is 0.79, indicating a slightly lower concentration compared to the national average.

What is the total number of Personal Financial Advisors in the area?

There are approximately 4,320 Personal Financial Advisors employed in the Washington-Arlington-Alexandria 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 4,320 employees in the Washington-Arlington-Alexandria, DC-VA-MD-WV area with a job density of 1.386 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.

Top Jobs in Washington-Arlington-Alexandria, DC-VA-MD-WV

Semantic Salary Analysis for Personal Financial Advisors • Data source: BLS OEWS 2024 •Jobs in Washington-Arlington-Alexandria, DC-VA-MD-WV