Average Personal Financial Advisors Salary in Winston-Salem, NC
Personal Financial Advisors in Winston-Salem, NC, command an impressive average annual salary of $218,530. This figure significantly outpaces the national average of $160,360, indicating a strong local demand and potentially higher value placed on financial advisory services within the region. The specialized nature of financial planning and the concentration of wealth or specific industry needs in Winston-Salem likely contribute to this elevated compensation.
Executive Summary
- Average Salary: $218,530 per year.
- Growth Trend: Salaries have shifted 105.4% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $327,795.
- Outlook: With a total local workforce of 640 Personal Financial Advisors, Winston-Salem presents a robust job market for this profession. The Location Quotient of 1.34 suggests that this role is more concentrated in Winston-Salem than the national average, implying a healthy and potentially growing demand for skilled financial advisors within the area.
Salary Overview
The average Personal Financial Advisors in Winston-Salem, NC earns+36.3%above the national average.
$105.1
$4,203
$18,211
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it is reasonable to assume that the average salary for Personal Financial Advisors in Winston-Salem has experienced growth over the past four years, mirroring national trends of increasing demand for financial planning services and the rising complexity of financial markets. This upward trajectory is likely driven by factors such as an aging population seeking retirement planning and a greater awareness of the importance of professional financial guidance.
Personal Financial Advisors Salary Distribution in Winston-Salem, NC
The salary for a Personal Financial Advisor in Winston-Salem, NC, scales considerably with experience. Entry-level positions might start at a lower percentile, while seasoned professionals with a proven track record and extensive client portfolios can command salaries well into the upper percentiles, potentially exceeding $300,000. The significant gap between the 25th and 75th percentile salaries clearly signifies substantial career progression and earning potential as advisors gain expertise and build their client base.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $57,240 | $27.5 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $163,898 | $78.8 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $129,570 | $62.3 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $273,163 | $131.3 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $327,795 | $157.6 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$218,530
Gross Pay
Real Wage (Purchasing Power)
$218,530
Adjusted for COL (100)
The average annual salary of $218,530 in Winston-Salem, NC, is particularly attractive when considered against the local Cost of Living Index of 100, which is precisely the national average. This means that the high nominal income translates directly into strong purchasing power, allowing financial advisors to enjoy a comfortable lifestyle without the added financial strain often associated with higher cost-of-living areas.
Job Market Context
640
Total Jobs
2.359
Per 1K Jobs
1.34
Location Quotient
With a location quotient of 1.34, Winston-Salem, NC has a slightly higher-than-average concentration of Personal Financial Advisors roles compared to the national norm.
A Location Quotient of 1.34 for Personal Financial Advisors in Winston-Salem signifies a notable concentration of this profession compared to the national average. This suggests that the job market is relatively robust and that there is a higher prevalence of these roles within the local economy, indicating a competitive yet potentially abundant landscape for both job seekers and established professionals.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Greensboro-High Point, NC Personal Financial Advisors Salary | $163,350↓ 25% | 23 mi |
| Eastern North Carolina nonmetropolitan area Personal Financial Advisors Salary | $231,700↑ 6% | 41 mi |
| Burlington, NC Personal Financial Advisors Salary | $172,490↓ 21% | 43 mi |
Comparing salaries near Winston-Salem, NC
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Winston-Salem, NC?
The median annual salary for a Personal Financial Advisors in Winston-Salem, NC is $218,530. This typically ranges from $57,240 for entry-level positions to $327,795 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Winston-Salem, NC is 36.3% higher than the national median of $160,360.
Is Winston-Salem, NC a lucrative place for Personal Financial Advisors?
Yes, Winston-Salem, NC is a highly lucrative location for Personal Financial Advisors.The average salary of $218,530 significantly exceeds the national average, and with a cost of living at the national average, the purchasing power of these earnings is exceptionally strong.
Is Winston-Salem, NC a good place to live for Personal Financial Advisors?
The Cost of Living Index in Winston-Salem, NC is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Winston-Salem, NC?
Some top paying nearby cities include Greensboro-High Point, NC ($163,350) and Eastern North Carolina nonmetropolitan area.
How does the Winston-Salem salary compare to the national average?
The average salary for Personal Financial Advisors in Winston-Salem, NC, is $218,530, which is substantially higher than the national average of $160,360.
What is the total number of Personal Financial Advisors in Winston-Salem?
There are approximately 640 Personal Financial Advisors employed in the Winston-Salem, NC area.
Does the cost of living affect the value of the salary?
No, the cost of living in Winston-Salem is at the national average (100), meaning the high salary of $218,530 offers excellent purchasing power.
Is the demand for Personal Financial Advisors high in Winston-Salem?
Yes, the Location Quotient of 1.34 indicates a higher concentration of Personal Financial Advisors than the national average, suggesting strong local demand.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 640 employees in the Winston-Salem, NC area with a job density of 2.359 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 Winston-Salem, NC