Average Residential Advisors Salary in Richmond, VA
Residential Advisors in Richmond, VA, earn an average annual salary of $42,520, which is notably higher than the national average of $41,320. This localized pay differential is often influenced by the specific economic conditions and demand within the Richmond metropolitan area, reflecting a slightly more favorable compensation landscape for this role.
Executive Summary
- Average Salary: $42,520 per year.
- Growth Trend: Salaries have shifted 47.3% ↗ over the last 5 years.
- Top Earners: Senior professionals (90th percentile) earn up to $57,410.
- Outlook: The job market for Residential Advisors in Richmond, VA, appears moderately robust. With a total local workforce of 400 individuals in this role and a Location Quotient of 1.15, Richmond shows a concentration of these positions slightly above the national average. This suggests a stable, if not growing, demand for Residential Advisors within the region, indicating a healthy employment environment for professionals in this field.
Salary Overview
The average Residential Advisors in Richmond, VA earns+2.9%above the national average.
$20.4
$818
$3,543
Residential Advisors Salary Trends (2020-2024)
While specific historical data is not provided, it's reasonable to assume that salaries for Residential Advisors in Richmond, VA, have experienced gradual growth over the past four years, mirroring general economic trends and inflation. This upward trajectory is typical for roles with consistent demand, suggesting that compensation has likely kept pace with the evolving cost of living and market expectations.
Residential Advisors Salary Distribution in Richmond, VA
Career progression for Residential Advisors typically correlates with increased salary. Entry-level positions often start at the lower end of the pay scale, while seasoned professionals with extensive experience and specialized skills can command significantly higher earnings. The percentile gaps in salary distribution reflect these opportunities for advancement, with senior roles occupying the upper echelons of compensation.
| Experience Level | Market Percentile | Annual Wage | Hourly Rate |
|---|---|---|---|
| Entry LevelStarting career. Focus on acquiring core skills. | 10% (Entry) | $35,720 | $17.2 |
| ExperiencedProficient professional working independently. | 25% (Junior) | $31,890 | $15.3 |
| Mid-LevelEstablished expert. Standard market value. | 50% (Median) | $37,710 | $18.1 |
| Senior LevelAdvanced skills, leadership or specialist role. | 75% (Senior) | $53,150 | $25.6 |
| Top TierIndustry leader / Executive level compensation. | 90% (Expert) | $57,410 | $27.6 |
Detailed Residential Advisors Market Analysis
Relocation Context
Nominal Salary
$42,520
Gross Pay
Real Wage (Purchasing Power)
$42,520
Adjusted for COL (100)
The average annual salary of $42,520 in Richmond, VA, aligns perfectly with the local Cost of Living Index of 100, which is the national benchmark. This means that the purchasing power of a Residential Advisor's salary in Richmond is equivalent to the national average, offering a stable financial standing without the immediate pressure of higher or lower living expenses.
Job Market Context
400
Total Jobs
0.618
Per 1K Jobs
1.15
Location Quotient
With a location quotient of 1.15, Richmond, VA has a slightly higher-than-average concentration of Residential Advisors roles compared to the national norm.
A Location Quotient of 1.15 indicates that Residential Advisors are 15% more concentrated in Richmond, VA, than the national average. This suggests a slightly more competitive market for job seekers, but also implies a strong presence and demand for these professionals within the local economy. Employers may need to offer competitive compensation to attract and retain talent in this slightly denser job market.
Nearby Job Markets
Nearby Cities for Residential Advisors
| City | Salary | Dist. |
|---|---|---|
| Southside Virginia nonmetropolitan area Residential Advisors Salary | $39,190↓ 8% | 41 mi |
| Northern West Virginia nonmetropolitan area Residential Advisors Salary | $30,430↓ 28% | 41 mi |
| Southwest Virginia nonmetropolitan area Residential Advisors Salary | $37,350↓ 12% | 41 mi |
| Northwest Virginia nonmetropolitan area Residential Advisors Salary | $44,470↑ 5% | 41 mi |
| Southern West Virginia nonmetropolitan area Residential Advisors Salary | $29,260↓ 31% | 41 mi |
Comparing salaries near Richmond, VA
Hiring Residential Advisorss?
Frequently Asked Questions
How much does a Residential Advisors make in Richmond, VA?
The median annual salary for a Residential Advisors in Richmond, VA is $42,520. This typically ranges from $35,720 for entry-level positions to $57,410 for top-level roles.
How does the salary compare to the national average?
The average salary for this role in Richmond, VA is 2.9% higher than the national median of $41,320.
Is Richmond, VA a lucrative place for Residential Advisors?
Yes, Richmond, VA offers a slightly more lucrative environment for Residential Advisors compared to the national average.The average salary is above the national average, and the cost of living is on par with the national average, indicating good purchasing power.
Is Richmond, VA a good place to live for Residential Advisors?
The Cost of Living Index in Richmond, VA is 100. While higher than average, this often correlates with higher wages.
Where are the highest paying cities near Richmond, VA?
Some top paying nearby cities include Southside Virginia nonmetropolitan area ($39,190) and Northern West Virginia nonmetropolitan area.
How does experience impact a Residential Advisor's salary in Richmond?
Experience significantly influences salary. Entry-level roles typically pay less, while senior Residential Advisors with substantial experience and specialized skills can earn considerably more, reflecting a clear career progression path.
What does a Location Quotient of 1.15 mean for Residential Advisors in Richmond?
A Location Quotient of 1.15 signifies that Residential Advisors are 15% more prevalent in Richmond compared to the national average, suggesting a healthy demand and a slightly more competitive job market.
Is the cost of living in Richmond, VA a factor for Residential Advisors?
The cost of living in Richmond, VA, is exactly at the national average (100). This means the $42,520 salary provides purchasing power equivalent to the national average, making it a stable financial environment.
How many Residential Advisors are there in Richmond, VA?
There are approximately 400 Residential Advisors employed within the Richmond, VA area, representing a notable segment of the local workforce in this profession.
Methodology: Salary data is derived from the Bureau of Labor Statistics (BLS) OEWS 2024 release. Figures represent gross pay before taxes. Analysis includes 400 employees in the Richmond, VA area with a job density of 0.618 per 1,000 jobs. Cost of Living data is estimated based on state and metro averages.
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Semantic Salary Analysis for Residential Advisors • Data source: BLS OEWS 2024 •Jobs in Richmond, VA