Salary Range for Financial Advisors
Personal financial advisors assist consumers with creating financial security with goal planning through investments and retirement accounts. Approximately 29 percent of professionals in this occupation were self employed in 2008. The U.S. Bureau of Labor Statistics estimates that job opportunities for personal financial advisors would increase by 30 percent from 2008 through 2018.
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National Average
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Personal financial advisors earned an average annual salary of $92,970 and an average hourly wage of $44.69 as of May 2008, according to the U.S. Bureau of Labor Statistics. They earned a median salary of $69,050 and a median hourly wage of $33.20 as of May 2008.
Top-Paying States
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States where personal financial advisors earned the highest wages include Alabama, Colorado, Connecticut, Massachusetts and New York. Financial advisors employed in theses states earned salaries ranging from $104,360 to $134,390 and hourly wages ranging from $50.17 to $64.61 as of May 2008, according to the U.S. Bureau of Labor Statistics.
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Top-Paying Metropolitan Areas
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Metropolitan areas where personal financial advisors earned the highest wages include the San Francisco area in California, the Worcester area in Massachusetts and Connecticut, the White Plains area in New York, the Trenton area in New Jersey and the Cheyenne area in Wyoming. Financial advisors employed in these metropolitan areas earned salaries ranging from $129,280 to $171,580 and hourly wages ranging from $62.15 to $82.49 as of May 2008, according to the U.S. Bureau of Labor Statistics.
Highest Job Concentration States
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States that have the highest job concentration of personal financial advisors include Connecticut, Delaware, Florida, Massachusetts and New York. Financial advisors employed in these states earned salaries ranging from $66,140 to $134,390 and hourly wages ranging from $31.80 to $64.61 as of May 2008, according to the U.S. Bureau of Labor Statistics.
Highest Job Concentration Metropolitan Areas
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Metropolitan areas with the highest job concentration of personal financial advisors include the Bridgeport area in Connecticut, the West Palm Beach and Tallahassee areas in Florida, the San Francisco area in California and the White Plains area in New York. Personal advisors employed in these metropolitan areas earned salaries ranging from $40,260 to $139,300 and hourly wages ranging from $19.36 to $66.97 as of May 2008, according to the U.S. Bureau of Labor Statistics.
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References
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