Occupational Employment and Wage Statistics
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Occupational Employment and Wages, May 2020
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) |
| 218,050 |
1.7 % |
$ 58.89 |
$ 122,490 |
1.2 % |
Percentile wage estimates for Personal Financial Advisors:
| Percentile |
10% |
25% |
50%
(Median) |
75% |
90% |
| Hourly Wage |
$ 21.20 |
$ 28.58 |
$ 42.95 |
$ 75.49 |
(5) |
| Annual Wage (2) |
$ 44,100 |
$ 59,450 |
$ 89,330 |
$ 157,020 |
(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 |
159,650 |
16.94 |
$ 62.90 |
$ 130,820 |
| Credit Intermediation and Related Activities (5221 and 5223 only) |
32,720 |
1.61 |
$ 47.41 |
$ 98,610 |
| Agencies, Brokerages, and Other Insurance Related Activities |
6,090 |
0.51 |
$ 50.92 |
$ 105,920 |
| Management of Companies and Enterprises |
4,240 |
0.18 |
$ 52.81 |
$ 109,840 |
| Accounting, Tax Preparation, Bookkeeping, and Payroll Services |
2,660 |
0.27 |
$ 51.28 |
$ 106,660 |
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 |
159,650 |
16.94 |
$ 62.90 |
$ 130,820 |
| Insurance and Employee Benefit Funds |
640 |
9.24 |
$ 40.02 |
$ 83,240 |
| Other Investment Pools and Funds |
650 |
6.02 |
$ 65.91 |
$ 137,090 |
| Credit Intermediation and Related Activities (5221 and 5223 only) |
32,720 |
1.61 |
$ 47.41 |
$ 98,610 |
| Agencies, Brokerages, and Other Insurance Related Activities |
6,090 |
0.51 |
$ 50.92 |
$ 105,920 |
Top paying industries for Personal Financial Advisors:
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.
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 |
28,290 |
1.72 |
1.10 |
$ 60.71 |
$ 126,280 |
| New York |
22,770 |
2.62 |
1.67 |
$ 81.40 |
$ 169,310 |
| Florida |
17,040 |
2.02 |
1.29 |
$ 49.45 |
$ 102,850 |
| Texas |
15,230 |
1.26 |
0.80 |
$ 47.76 |
$ 99,340 |
| Illinois |
9,400 |
1.67 |
1.07 |
$ 67.02 |
$ 139,410 |
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) |
| Connecticut |
4,820 |
3.13 |
2.00 |
$ 65.94 |
$ 137,160 |
| New York |
22,770 |
2.62 |
1.67 |
$ 81.40 |
$ 169,310 |
| Rhode Island |
1,110 |
2.50 |
1.60 |
$ 59.13 |
$ 123,000 |
| Utah |
3,580 |
2.40 |
1.53 |
$ 43.59 |
$ 90,670 |
| Massachusetts |
7,260 |
2.17 |
1.38 |
$ 72.78 |
$ 151,390 |
Top paying states for Personal Financial Advisors:
| State |
Employment (1) |
Employment per thousand jobs |
Location quotient (9) |
Hourly mean wage |
Annual mean wage (2) |
| New York |
22,770 |
2.62 |
1.67 |
$ 81.40 |
$ 169,310 |
| Maine |
640 |
1.11 |
0.71 |
$ 74.64 |
$ 155,240 |
| Montana |
430 |
0.95 |
0.61 |
$ 74.34 |
$ 154,630 |
| Minnesota |
4,470 |
1.65 |
1.05 |
$ 73.95 |
$ 153,830 |
| Massachusetts |
7,260 |
2.17 |
1.38 |
$ 72.78 |
$ 151,390 |
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 |
23,020 |
2.61 |
1.66 |
$ 81.66 |
$ 169,850 |
| Los Angeles-Long Beach-Anaheim, CA |
10,920 |
1.88 |
1.20 |
$ 50.87 |
$ 105,820 |
| Chicago-Naperville-Elgin, IL-IN-WI |
8,150 |
1.87 |
1.19 |
$ 70.14 |
$ 145,890 |
| San Francisco-Oakland-Hayward, CA |
7,740 |
3.32 |
2.12 |
$ 74.98 |
$ 155,960 |
| Miami-Fort Lauderdale-West Palm Beach, FL |
6,830 |
2.72 |
1.74 |
$ 52.73 |
$ 109,670 |
| Boston-Cambridge-Nashua, MA-NH |
6,820 |
2.62 |
1.67 |
$ 72.70 |
$ 151,210 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD |
6,100 |
2.26 |
1.44 |
$ 48.26 |
$ 100,380 |
| Dallas-Fort Worth-Arlington, TX |
5,970 |
1.66 |
1.06 |
$ 50.67 |
$ 105,400 |
| Atlanta-Sandy Springs-Roswell, GA |
5,190 |
1.97 |
1.26 |
$ 52.99 |
$ 110,210 |
| Denver-Aurora-Lakewood, CO |
3,900 |
2.68 |
1.71 |
$ 57.64 |
$ 119,890 |
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) |
| The Villages, FL |
150 |
4.86 |
3.10 |
(8) |
(8) |
| Salt Lake City, UT |
2,800 |
3.87 |
2.47 |
$ 43.48 |
$ 90,450 |
| Durham-Chapel Hill, NC |
1,140 |
3.67 |
2.34 |
$ 60.70 |
$ 126,250 |
| San Francisco-Oakland-Hayward, CA |
7,740 |
3.32 |
2.12 |
$ 74.98 |
$ 155,960 |
| Jackson, TN |
210 |
3.31 |
2.11 |
$ 23.82 |
$ 49,550 |
| Naples-Immokalee-Marco Island, FL |
440 |
3.01 |
1.92 |
$ 48.36 |
$ 100,580 |
| Milwaukee-Waukesha-West Allis, WI |
2,410 |
3.00 |
1.91 |
$ 51.23 |
$ 106,550 |
| Charlotte-Concord-Gastonia, NC-SC |
3,460 |
2.86 |
1.82 |
$ 70.51 |
$ 146,650 |
| Winston-Salem, NC |
720 |
2.78 |
1.78 |
$ 51.14 |
$ 106,380 |
| Miami-Fort Lauderdale-West Palm Beach, FL |
6,830 |
2.72 |
1.74 |
$ 52.73 |
$ 109,670 |
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) |
| Gainesville, FL |
80 |
0.55 |
0.35 |
$ 99.09 |
$ 206,120 |
| New York-Newark-Jersey City, NY-NJ-PA |
23,020 |
2.61 |
1.66 |
$ 81.66 |
$ 169,850 |
| Tyler, TX |
(8) |
(8) |
(8) |
$ 81.58 |
$ 169,690 |
| Norwich-New London-Westerly, CT-RI |
110 |
0.95 |
0.60 |
$ 80.51 |
$ 167,470 |
| Portland-South Portland, ME |
380 |
1.92 |
1.22 |
$ 80.47 |
$ 167,370 |
| Santa Maria-Santa Barbara, CA |
280 |
1.51 |
0.97 |
$ 79.60 |
$ 165,570 |
| Eugene, OR |
180 |
1.21 |
0.77 |
$ 79.36 |
$ 165,070 |
| San Luis Obispo-Paso Robles-Arroyo Grande, CA |
130 |
1.22 |
0.78 |
$ 79.16 |
$ 164,660 |
| Minneapolis-St. Paul-Bloomington, MN-WI |
3,560 |
1.93 |
1.23 |
$ 77.42 |
$ 161,020 |
| Richmond, VA |
1,020 |
1.63 |
1.04 |
$ 77.25 |
$ 160,670 |
Nonmetropolitan areas with the highest employment in Personal Financial Advisors:
Nonmetropolitan areas with the highest concentration of jobs and location quotients in Personal Financial Advisors:
Top paying nonmetropolitan areas for Personal Financial Advisors:
About May 2020 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 $100.00 per hour or $208,000 per year.
(7) The value is less than .005 percent of industry employment.
(8) Estimate not released.
(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 2020 National Occupational Employment and Wage Estimates
May 2020 State Occupational Employment and Wage Estimates
May 2020 Metropolitan and Nonmetropolitan Area Occupational Employment and Wage Estimates
May 2020 National Industry-Specific Occupational Employment and Wage Estimates
May 2020 Occupation Profiles
Technical Notes
Last Modified Date: March 31, 2021
United States Department of Labor
