The average salary for a Financial Advisor is $58,272.
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Job Description for Financial Advisor
Financial advisors work primarily for financial institutions such as banks, mutual fund companies, and insurance companies. Generally, they work with individuals or institutional clients to assess their financial needs and help them achieve financial goals, such as choosing investments (money market, real estate investments, stocks and bonds), and they also explain tax laws relevant to certain investments and help with insurance decisions. Financial advisors help clients plan for both short-ter…Read more
Financial Advisor Tasks
- Interview clients and gather information to determine strategies for financial investments.
- Prospect and maintain clientele.
- Recommend and sell financial plans and products that will help meet financial goals.
Job Satisfaction for Financial Advisor
Popular Employer Salaries for Financial Advisor
The top respondents for the job title Financial Advisor are from the companies Edward Jones, Merrill Lynch & Co Inc and Ameriprise Financial, Inc.. Reported salaries are highest at The Vanguard Group where the average pay is $59,188. Other companies that offer high salaries for this role include Morgan Stanley and Merrill Lynch & Co Inc, earning around $58,354 and $57,455, respectively. AXA Advisors LLC pays the lowest at around $30,671. The Northwestern Mutual Life Insurance Company and Edward Jones also pay on the lower end of the scale, paying $47,742 and $48,598, respectively.
Financial Advisor Job Listings
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Popular Skills for Financial Advisor
Skills in Financial Advisor, Client Interaction, Investment Planning and Investment Management are correlated to pay that is above average. Skills that pay less than market rate include Customer Relationship Management (CRM).
Pay by Experience Level for Financial Advisor
An entry-level Financial Advisor with less than 1 year experience can expect to earn an average total compensation (includes tips, bonus, and overtime pay) of $47,345 based on 539 salaries. An early career Financial Advisor with 1-4 years of experience earns an average total compensation of $51,664 based on 1,814 salaries. A mid-career Financial Advisor with 5-9 years of experience earns an average total compensation of $66,582 based on 906 salaries. An experienced Financial Advisor with 10-19 years of experience earns an average total compensation of $77,110 based on 891 salaries. In their late career (20 years and higher), employees earn an average total compensation of $83,168.
Pay Difference by Location
Learn more about cost of living by city.
Employees with Financial Advisor in their job title in New York, New York earn an average of 30.2% more than the national average. These job titles also find higher than average salaries in Boston, Massachusetts (10.4% more) and Chicago, Illinois (6.9% more). The lowest salaries can be found in Houston, Texas (12.0% less) and Charlotte, North Carolina (0.4% less).
Years of Experience
This data is based on 4,591 survey responses.
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