Mid-Career Financial Advisor Salary
A substantial slice of final earnings for Mid-Career Financial Advisors (more than half) arrives through commissions. Median overall income in this area is approximately $75K. Total cash earnings of Mid-Career Financial Advisors range from $42K on the low end to $148K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $39K and $19K, respectively. The company and the particular city each impact pay for this group, with the former having the largest influence. Making up 72 percent of those who took the survey, male Mid-Career Financial Advisors greatly outnumber their female counterparts. A large number report receiving medical coverage from their employers and more than half collect dental insurance. Most Mid-Career Financial Advisors like their work and job satisfaction is high. This report is based on responses to the PayScale salary survey.
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Popular Employer Salaries for Financial Advisor
Mid-Career Financial Advisors fill the offices of leading firms Edward Jones, Ameriprise Financial, Inc., Merrill Lynch & Co Inc, Usaa Insurance, and TIAA-CREF. TIAA-CREF offers the largest salaries in town — $122K on average. Other leaders in compensation levels are Edward Jones at $101K, Merrill Lynch & Co Inc at $79K, and Usaa Insurance, where Mid-Career Financial Advisors annually earn $72K.
Other low-paying employers include AXA Advisors LLC at $66K and Ameriprise Financial, Inc. at $68K, though some Mid-Career Financial Advisors there earn up to $91K.
Pay Difference by Location
Atlanta is home to an above-average pay rate for Mid-Career Financial Advisors, 32 percent higher than the national average. Mid-Career Financial Advisors will also find cushy salaries in St. Louis (+28 percent), New York (+28 percent), Columbus (+27 percent), and Los Angeles (+26 percent). Place of residence plays a huge part in a Financial Advisor's salary, with Phoenix Mid-Career Financial Advisors earning salaries that are 30 percent less than the national average. Below-median salaries also turn up in Jacksonville and Charlotte (29 percent lower and 17 percent lower, respectively).