Average Personal Financial Advisors Salary in Youngstown-Warren, OH
Personal Financial Advisors in Youngstown-Warren, OH, earn an average annual salary of $125,880. This figure is notably below the national average of $160,360, reflecting regional economic factors and demand specific to the Youngstown-Warren area. While the nominal salary is lower, it's crucial to consider the local cost of living when evaluating overall compensation.
Executive Summary
- Average Salary: $125,880 per year.
- Growth Trend: Salaries have shifted 0.0% ↘ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $189,990.
- Outlook: The job market for Personal Financial Advisors in Youngstown-Warren, OH, appears stable with a total local workforce of 230 individuals. The Location Quotient of 0.8 suggests a slightly lower concentration of these professionals compared to the national average, indicating a steady but not exceptionally high demand within the region.
Salary Overview
The average Personal Financial Advisors in Youngstown-Warren, OH earns-21.5%below the national average.
$60.5
$2,421
$10,490
Personal Financial Advisors Salary Trends (2020-2024)
While specific historical data for Youngstown-Warren is not provided, it's reasonable to assume that salaries for Personal Financial Advisors have experienced growth over the past four years, mirroring national trends. Economic shifts and evolving client needs likely contribute to an upward trajectory in compensation for experienced professionals in this field.
Personal Financial Advisors Salary Distribution in Youngstown-Warren, OH
Salary progression for Personal Financial Advisors in Youngstown-Warren, OH, typically scales with experience. Entry-level positions may start at a lower percentile, while seasoned advisors with a proven track record and a robust client base can command salaries significantly higher than the average. The gap between entry-level and senior roles signifies substantial career growth potential.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Associate / AnalystData entry, reporting, supporting senior staff. | 10% (Entry) | $54,180 | $26 |
| Senior AnalystIndependent analysis, forecasting, client interaction. | 25% (Junior) | $94,410 | $45.4 |
| ManagerOversees team, compliance, and project delivery. | 50% (Median) | $91,540 | $44 |
| Director / VPStrategic planning, budget ownership, risk management. | 75% (Senior) | $157,350 | $75.6 |
| Executive / PartnerC-level leadership. High-level strategy & relations. | 90% (Expert) | $189,990 | $91.3 |
Detailed Personal Financial Advisors Market Analysis
Relocation Context
Nominal Salary
$125,880
Gross Pay
Real Wage (Purchasing Power)
$125,880
Adjusted for COL (100)
The average annual salary of $125,880 in Youngstown-Warren, OH, aligns perfectly with the local Cost of Living Index of 100, which is the national average. This means that the purchasing power of a Personal Financial Advisor's income in this region is equivalent to the national standard, offering a balanced lifestyle without significant financial strain related to living expenses.
Job Market Context
230
Total Jobs
1.411
Per 1K Jobs
0.8
Location Quotient
Youngstown-Warren, OH has 0.80x 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 0.8, the Youngstown-Warren, OH market for Personal Financial Advisors is slightly less concentrated than the national average. This suggests that while the profession is present and valued, the job market may not be oversaturated, potentially offering good opportunities for skilled advisors seeking to establish or advance their careers.
Nearby Job Markets
Nearby Cities for Personal Financial Advisors
| City | Salary | Dist. |
|---|---|---|
| Canton-Massillon, OH Personal Financial Advisors Salary | $111,700↓ 11% | 43 mi |
| Akron, OH Personal Financial Advisors Salary | $122,770↓ 2% | 46 mi |
| Weirton-Steubenville, WV-OH Personal Financial Advisors Salary | $83,770↓ 33% | 48 mi |
| Pittsburgh, PA Personal Financial Advisors Salary | $163,810↑ 30% | 57 mi |
| Cleveland, OH Personal Financial Advisors Salary | $134,830↑ 7% | 60 mi |
Comparing salaries near Youngstown-Warren, OH
Hiring Personal Financial Advisorss?
Frequently Asked Questions
How much does a Personal Financial Advisors make in Youngstown-Warren, OH?
The median annual salary for a Personal Financial Advisors in Youngstown-Warren, OH is $125,880. This typically ranges from $54,180 for entry-level positions to $189,990 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Youngstown-Warren, OH is 21.5% lower than the national median of $160,360.
Is Youngstown-Warren, OH a lucrative place for Personal Financial Advisors?
Yes, with a balanced cost of living.While the average salary of $125,880 is below the national average, the cost of living in Youngstown-Warren, OH, is also at the national average. This equilibrium means your earnings provide comparable purchasing power to advisors in higher-cost national markets.
Is Youngstown-Warren, OH a good place to live for Personal Financial Advisors?
The Cost of Living Index in Youngstown-Warren, OH is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Youngstown-Warren, OH?
Some top paying nearby cities include Canton-Massillon, OH ($111,700) and Akron, OH.
How does the Youngstown-Warren salary compare to the national average?
The average salary for Personal Financial Advisors in Youngstown-Warren, OH, is $125,880, which is lower than the national average of $160,360.
What is the concentration of Personal Financial Advisors in Youngstown-Warren, OH?
The concentration, measured by the Location Quotient, is 0.8, indicating a slightly lower presence of these professionals compared to the national average.
How does the cost of living affect the salary in Youngstown-Warren, OH?
The cost of living in Youngstown-Warren, OH, is exactly at the national average (100). This means the $125,880 salary has the same purchasing power as the national average salary.
What does a Location Quotient of 0.8 signify for job seekers?
A Location Quotient of 0.8 suggests that the market is not as saturated with Personal Financial Advisors as the national average, potentially indicating stable demand and opportunities for qualified individuals.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 230 employees in the Youngstown-Warren, OH area with a job density of 1.411 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 Youngstown-Warren, OH