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Occupational Employment and Wage Statistics

Occupational Employment and Wages, May 2022

13-2052 Personal Financial Advisors

Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients. Excludes “Securities, Commodities, and Financial Services Sales Agents” (41-3031).


National estimates for Personal Financial Advisors
Industry profile for Personal Financial Advisors
Geographic profile for Personal Financial Advisors

National estimates for Personal Financial Advisors:

Employment estimate and mean wage estimates for Personal Financial Advisors:

Employment (1) Employment
RSE (3)
Mean hourly
wage
Mean annual
wage (2)
Wage RSE (3)
283,060 1.3 % $ 66.22 $ 137,740 1.6 %

Percentile wage estimates for Personal Financial Advisors:

Percentile 10% 25% 50%
(Median)
75% 90%
Hourly Wage $ 22.45 $ 29.79 $ 45.86 $ 79.61 (5)
Annual Wage (2) $ 46,700 $ 61,960 $ 95,390 $ 165,590 (5)


Industry profile for Personal Financial Advisors:

Industries with the highest published employment and wages for Personal Financial Advisors are provided. For a list of all industries with employment in Personal Financial Advisors, see the Create Customized Tables function.

Industries with the highest levels of employment in Personal Financial Advisors:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 204,430 20.18 $ 72.38 $ 150,540
Credit Intermediation and Related Activities (5221 and 5223 only) 50,400 2.49 $ 51.12 $ 106,320
Agencies, Brokerages, and Other Insurance Related Activities 8,180 0.64 $ 45.69 $ 95,040
Management of Companies and Enterprises 4,000 0.15 $ 65.67 $ 136,600
Accounting, Tax Preparation, Bookkeeping, and Payroll Services 3,130 0.30 $ 44.09 $ 91,710

Industries with the highest concentration of employment in Personal Financial Advisors:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 204,430 20.18 $ 72.38 $ 150,540
Other Investment Pools and Funds 950 5.49 $ 43.57 $ 90,620
Insurance and Employee Benefit Funds 460 4.57 $ 36.86 $ 76,670
Credit Intermediation and Related Activities (5221 and 5223 only) 50,400 2.49 $ 51.12 $ 106,320
Agencies, Brokerages, and Other Insurance Related Activities 8,180 0.64 $ 45.69 $ 95,040

Top paying industries for Personal Financial Advisors:

Industry Employment (1) Percent of industry employment Hourly mean wage Annual mean wage (2)
Securities, Commodity Contracts, and Other Financial Investments and Related Activities 204,430 20.18 $ 72.38 $ 150,540
Management of Companies and Enterprises 4,000 0.15 $ 65.67 $ 136,600
Automobile Dealers 530 0.04 $ 65.02 $ 135,230
Employment Services 340 0.01 $ 64.86 $ 134,910
Office Administrative Services 610 0.11 $ 64.79 $ 134,760


Geographic profile for Personal Financial Advisors:

States and areas with the highest published employment, location quotients, and wages for Personal Financial Advisors are provided. For a list of all areas with employment in Personal Financial Advisors, see the Create Customized Tables function.



Map of employment of personal financial advisors by state, May 2022


States with the highest employment level in Personal Financial Advisors:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
California 32,670 1.85 0.97 $ 66.47 $ 138,260
New York 26,800 2.94 1.54 $ 97.63 $ 203,070
Florida 24,640 2.67 1.40 $ 58.06 $ 120,760
Texas 21,860 1.68 0.88 $ 56.38 $ 117,260
North Carolina 13,650 2.94 1.53 $ 63.79 $ 132,680


Map of location quotient of personal financial advisors by state, May 2022


States with the highest concentration of jobs and location quotients in Personal Financial Advisors:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York 26,800 2.94 1.54 $ 97.63 $ 203,070
North Carolina 13,650 2.94 1.53 $ 63.79 $ 132,680
New Hampshire 1,920 2.92 1.52 $ 48.56 $ 101,010
Florida 24,640 2.67 1.40 $ 58.06 $ 120,760
Kansas 3,380 2.45 1.28 $ 50.57 $ 105,180


Map of annual mean wages of personal financial advisors by state, May 2022


Top paying states for Personal Financial Advisors:

State Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Alaska 160 0.53 0.28 $ 110.45 $ 229,730
New York 26,800 2.94 1.54 $ 97.63 $ 203,070
New Jersey 8,160 1.99 1.04 $ 83.89 $ 174,490
Pennsylvania 11,030 1.90 0.99 $ 78.56 $ 163,400
Massachusetts 7,850 2.20 1.15 $ 74.49 $ 154,930



Map of employment of personal financial advisors by area, May 2022


Metropolitan areas with the highest employment level in Personal Financial Advisors:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
New York-Newark-Jersey City, NY-NJ-PA 29,000 3.16 1.65 $ 100.12 $ 208,250
Los Angeles-Long Beach-Anaheim, CA 13,050 2.14 1.12 $ 58.70 $ 122,100
Chicago-Naperville-Elgin, IL-IN-WI 10,760 2.44 1.27 $ 65.76 $ 136,780
Dallas-Fort Worth-Arlington, TX 8,440 2.22 1.16 $ 62.63 $ 130,280
Miami-Fort Lauderdale-West Palm Beach, FL 8,360 3.18 1.66 $ 70.95 $ 147,570
Boston-Cambridge-Nashua, MA-NH 7,370 2.73 1.42 $ 73.80 $ 153,510
San Francisco-Oakland-Hayward, CA 6,900 2.88 1.51 $ 81.78 $ 170,100
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 6,800 2.46 1.28 $ 74.72 $ 155,420
Charlotte-Concord-Gastonia, NC-SC 6,460 5.09 2.66 $ 63.66 $ 132,410
Houston-The Woodlands-Sugar Land, TX 5,840 1.91 1.00 $ 53.44 $ 111,160


Map of location quotient of personal financial advisors by area, May 2022


Metropolitan areas with the highest concentration of jobs and location quotients in Personal Financial Advisors:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Bridgeport-Stamford-Norwalk, CT 2,200 5.59 2.92 $ 74.24 $ 154,410
The Villages, FL 190 5.22 2.73 $ 51.86 $ 107,870
Charlotte-Concord-Gastonia, NC-SC 6,460 5.09 2.66 $ 63.66 $ 132,410
Durham-Chapel Hill, NC 1,380 4.23 2.21 $ 67.71 $ 140,840
Portsmouth, NH-ME 350 3.88 2.03 $ 53.31 $ 110,880
Naples-Immokalee-Marco Island, FL 580 3.71 1.94 $ 57.92 $ 120,460
Jacksonville, FL 2,640 3.66 1.91 $ 60.12 $ 125,040
Trenton, NJ 860 3.65 1.91 $ 69.11 $ 143,740
Sebastian-Vero Beach, FL 180 3.38 1.76 $ 49.11 $ 102,150
Milwaukee-Waukesha-West Allis, WI 2,610 3.26 1.70 $ 69.72 $ 145,020


Map of annual mean wages of personal financial advisors by area, May 2022


Top paying metropolitan areas for Personal Financial Advisors:

Metropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Anchorage, AK 90 0.54 0.28 $ 143.88 $ 299,280
New York-Newark-Jersey City, NY-NJ-PA 29,000 3.16 1.65 $ 100.12 $ 208,250
Las Vegas-Henderson-Paradise, NV 1,400 1.37 0.71 $ 99.99 $ 207,970
Oshkosh-Neenah, WI 100 1.12 0.58 $ 89.60 $ 186,370
Pittsburgh, PA 2,330 2.20 1.15 $ 88.83 $ 184,770
Barnstable Town, MA 140 1.40 0.73 $ 88.81 $ 184,710
Lebanon, PA 30 0.66 0.35 $ 87.67 $ 182,360
York-Hanover, PA 140 0.81 0.42 $ 84.77 $ 176,320
Williamsport, PA 40 0.79 0.41 $ 84.64 $ 176,060
Tulsa, OK 450 1.05 0.55 $ 84.60 $ 175,960

Nonmetropolitan areas with the highest employment in Personal Financial Advisors:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Kansas nonmetropolitan area 380 0.99 0.52 $ 41.07 $ 85,420
Northern Indiana nonmetropolitan area 300 1.43 0.75 $ 62.96 $ 130,950
Piedmont North Carolina nonmetropolitan area 250 1.00 0.52 $ 58.40 $ 121,470
Northwest Lower Peninsula of Michigan nonmetropolitan area 250 2.06 1.08 $ 53.52 $ 111,320
Balance of Lower Peninsula of Michigan nonmetropolitan area 230 0.87 0.46 $ 47.51 $ 98,820

Nonmetropolitan areas with the highest concentration of jobs and location quotients in Personal Financial Advisors:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Western Wyoming nonmetropolitan area 200 2.13 1.11 $ 36.30 $ 75,510
Northwest Lower Peninsula of Michigan nonmetropolitan area 250 2.06 1.08 $ 53.52 $ 111,320
Central New Hampshire nonmetropolitan area 170 1.90 1.00 $ 47.56 $ 98,920
East Central Illinois nonmetropolitan area 200 1.74 0.91 $ 41.73 $ 86,800
Southwest Colorado nonmetropolitan area 180 1.72 0.90 $ 54.00 $ 112,320

Top paying nonmetropolitan areas for Personal Financial Advisors:

Nonmetropolitan area Employment (1) Employment per thousand jobs Location quotient (9) Hourly mean wage Annual mean wage (2)
Western Washington nonmetropolitan area 150 1.24 0.65 $ 100.40 $ 208,830
Massachusetts nonmetropolitan area 40 0.69 0.36 $ 92.78 $ 192,980
North Valley-Northern Mountains Region of California nonmetropolitan area 80 0.84 0.44 $ 79.66 $ 165,690
West Montana nonmetropolitan area 110 1.38 0.72 $ 77.89 $ 162,020
Southwest Montana nonmetropolitan area 180 1.25 0.66 $ 73.78 $ 153,470


About May 2022 National, State, Metropolitan, and Nonmetropolitan Area Occupational Employment and Wage Estimates

These estimates are calculated with data collected from employers in all industry sectors, all metropolitan and nonmetropolitan areas, and all states and the District of Columbia. The top employment and wage figures are provided above. The complete list is available in the downloadable XLS files.

The percentile wage estimate is the value of a wage below which a certain percent of workers fall. The median wage is the 50th percentile wage estimate—50 percent of workers earn less than the median and 50 percent of workers earn more than the median. More about percentile wages.


(1) Estimates for detailed occupations do not sum to the totals because the totals include occupations not shown separately. Estimates do not include self-employed workers.

(2) Annual wages have been calculated by multiplying the hourly mean wage by a "year-round, full-time" hours figure of 2,080 hours; for those occupations where there is not an hourly wage published, the annual wage has been directly calculated from the reported survey data.

(3) The relative standard error (RSE) is a measure of the reliability of a survey statistic. The smaller the relative standard error, the more precise the estimate.

(5) This wage is equal to or greater than $115.00 per hour or $239,200 per year.

(9) The location quotient is the ratio of the area concentration of occupational employment to the national average concentration. A location quotient greater than one indicates the occupation has a higher share of employment than average, and a location quotient less than one indicates the occupation is less prevalent in the area than average.


Other OEWS estimates and related information:

May 2022 National Occupational Employment and Wage Estimates

May 2022 State Occupational Employment and Wage Estimates

May 2022 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates

May 2022 National Industry-Specific Occupational Employment and Wage Estimates

May 2022 Occupation Profiles

Technical Notes

 

Last Modified Date: April 25, 2023