Personal Financial Advisors Employment and Wages in 2022

In 2022, the Personal Financial Advisors occupation accounted for over 283 thousand jobs in the United States, reflecting an increase of 7.6% from 2021. The annual mean wage in 2022 was $137,740, and the median wage was $95,390. Compared to the national average for all occupations, the wages for this occupation were higher by 122.5%.

Industry Sub-Groups

Among industry sectors, Finance and Insurance held the largest number of jobs for the Personal Financial Advisors occupation, employing over 268 thousand people in 2022. The annual mean wage in this sector was $139,450, with a median wage of $96,440. There was a decrease in wage variance to the national average compared to 2021, with the variance shifting from 1.6% to 1.2%, indicating industry sector wages lagged national wage trends.

Professional, Scientific, and Technical Services accounted for a substantial employment share for this occupation, with 6 thousand people employed in 2022. The annual mean wage for this sub-group was $99,370, and the median wage was $72,240. In terms of wage variance to the national average, there was an increase compared to 2021, with the variance shifting from -28% to -27.9%.

The Management of Companies and Enterprises sector also had considerable industry employment, with approximately 4 thousand people employed in 2022. The annual mean wage in this sub-group was $136,600 and the median wage was $93,690. The wage variance to the national average experienced an increase compared to 2021, with the variance shifting from -19.1% to -0.8%.

Highest Location Concentration

When we examine the top locations in terms of proportional employment within the Personal Financial Advisors occupation, we find that Bridgeport-Stamford-Norwalk, CT had the highest concentration of jobs (2.9 times the national occupational employment share). The location had an annual mean wage in 2022, at $154,410, and a median wage of $115,580. The location variance to the national average was 12.1%. Charlotte-Concord-Gastonia, NC-SC had the next highest concentration of jobs (2.7 times the national occupational employment share) and an annual mean wage of $132,410 and a median wage of $103,420. The industry variance to the national average was -3.9%. Portsmouth, NH-ME had 2 times the national occupational employment share and an annual mean wage of $110,880 and a median wage of $96,130. The industry variance to the national average was -19.5%.

Summary

In 2022, the Personal Financial Advisors occupation saw notable growth, with a 7.6% increase in employment, totaling over 283,000 jobs in the United States. Personal Financial Advisors earned an annual mean wage of $137,740, with a median wage of $95,390, significantly surpassing the national average for all occupations by 122.5%. Finance and Insurance stood out among industry sectors, employing over 268,000 Personal Financial Advisors in 2022, with wages slightly below the national average. Professional, Scientific, and Technical Services also contributed to employment, with 6,000 individuals in this sub-group, though wages were considerably lower. The Management of Companies and Enterprises sector featured approximately 4,000 employees in this occupation, with wages nearing the national average. Among locations with high job concentrations for Personal Financial Advisors, Bridgeport-Stamford-Norwalk, CT, led the way with a job concentration 2.9 times the national average, accompanied by wages above the national average. Charlotte-Concord-Gastonia, NC-SC, and Portsmouth, NH-ME, also exhibited significant job concentrations, with wages either slightly below or around the national average.

For more detailed insights, visit our Personal Financial Advisors Dashboard or consider purchasing Aimiax’s 2022 Personal Financial Advisors Occupation Report.