How much do financial advisors make?

Financial Advisor salary 2026 · BLS occupation: Personal Financial Advisors (SOC 13-2052) · Updated October 28, 2026

Answer

Financial advisors in the US earned a median of $105,070 a year ($50.51 an hour) in May 2025, according to the Bureau of Labor Statistics. The middle half earned $72,440 to $176,790.

Median annual pay: $105,070; Mean $156,670
Median hourly pay: $50.51; Mean $75.32
Typical range (10th–90th): $50.2K–$357K; $50,190 to $357,020
US jobs: 266,800; +1.4% projected, 2025–35

BLS OEWS, May 2025, released April 30, 2026. Wages include tips, commissions and production bonuses but not overtime premiums, shift differentials, other bonuses or benefits; self-employed workers are not included. Methodology

How to become a financial advisor: steps, years and cost · Best-paying state after cost of living: New York

Financial Advisor pay range

Annual wages, May 2025

10th percentile$50,190
25th percentile$72,440
Median$105,070
75th percentile$176,790
90th percentile$357,020

Half of all financial advisors earned more than $105,070 and half earned less. The lowest-paid 10% made under $50,190; the top 10% made over $357,020. The middle 50%, from the 25th to the 75th percentile, ran from $72,440 to $176,790.

These percentiles describe everyone in the occupation at one time. They are not pay steps by years of experience: they mix new and senior workers, different states, employers and hours. Pay generally rises with experience, credentials and specialization, but BLS does not publish pay by experience.

Percentile	Annual	Hourly	Monthly
10th	$50,190	$24.13	$4,183
25th	$72,440	$34.83	$6,037
Median (50th)	$105,070	$50.51	$8,756
75th	$176,790	$84.99	$14,733
90th	$357,020	$171.65	$29,752
Mean (average)	$156,670	$75.32	$13,056

Financial Advisor salary by state

Median annual pay; cost of living from BEA regional price parities 2024

Median annual pay for financial advisors by state. Darker tiles pay more. A dash means BLS did not publish a figure.

Highest-paying states

1. New York $166,400
2. New Jersey $158,570
3. California $130,330
4. Connecticut $129,720
5. South Dakota $128,720

Lowest-paying states

49. Mississippi $63,300
48. Kentucky $67,150
47. Oklahoma $68,670
46. Hawaii $76,070
45. North Dakota $76,870

Best after cost of living: New York. Its median of $166,400 is worth about $154,187 at national-average prices.


Alabama	$77,990	41	$87,804	38	$37.50	2,540	1.20
Alaska	$78,690	40	$76,876	46	$37.83	—	—
Arizona	$96,950	24	$96,298	29	$46.61	6,430	1.98
Arkansas	$79,420	39	$91,354	36	$38.18	1,320	1.01
California	$130,330	3	$117,711	10	$62.66	32,200	1.77
Colorado	$89,280	34	$86,636	39	$42.92	6,730	2.34
Connecticut	$129,720	4	$125,200	6	$62.36	—	—
Delaware	$125,050	7	$125,291	5	$60.12	—	—
District of Columbia	$104,990	14	$95,531	30	$50.48	480	0.69
Florida	$100,970	19	$97,637	28	$48.54	21,490	2.16
Georgia	$101,450	18	$105,356	16	$48.78	6,830	1.40
Hawaii	$76,070	46	$69,185	49	$36.57	550	0.87
Idaho	$94,370	28	$98,823	26	$45.37	760	0.88
Illinois	$120,130	9	$120,180	7	$57.75	9,760	1.60
Indiana	$87,710	35	$93,979	32	$42.17	5,400	1.69
Iowa	$92,310	32	$105,182	17	$44.38	1,920	1.23
Kansas	$102,530	17	$113,836	11	$49.29	4,150	2.89
Kentucky	$67,150	48	$74,480	47	$32.29	2,040	1.02
Louisiana	—	—	—	—	—	1,470	0.76
Maine	—	—	—	—	—	850	1.33
Maryland	$99,880	21	$95,161	31	$48.02	5,260	1.90
Massachusetts	$125,670	6	$118,829	9	$60.42	—	—
Michigan	$77,930	42	$80,994	42	$37.47	6,570	1.49
Minnesota	$102,660	15	$104,095	18	$49.36	5,280	1.79
Mississippi	$63,300	49	$72,798	48	$30.43	790	0.68
Missouri	$99,930	20	$110,034	13	$48.04	4,480	1.53
Montana	$97,450	23	$102,964	20	$46.85	—	—
Nebraska	$93,280	30	$103,526	19	$44.85	2,210	2.16
Nevada	$92,720	31	$92,739	34	$44.58	1,730	1.11
New Hampshire	$96,780	26	$92,910	33	$46.53	1,850	2.70
New Jersey	$158,570	2	$145,738	2	$76.24	9,300	2.17
New Mexico	$94,270	29	$102,232	23	$45.32	610	0.70
New York	$166,400	1	$154,187	1	$80.00	21,550	2.22
North Carolina	$96,880	25	$102,708	22	$46.58	12,340	2.50
North Dakota	$76,870	45	$86,411	40	$36.96	540	1.26
Ohio	$90,990	33	$98,077	27	$43.75	7,680	1.38
Oklahoma	$68,670	47	$78,174	45	$33.02	1,140	0.67
Oregon	$122,830	8	$118,836	8	$59.05	3,070	1.56
Pennsylvania	$105,200	13	$107,818	14	$50.58	12,200	2.01
Rhode Island	$80,200	37	$78,412	43	$38.56	1,130	2.25
South Carolina	$96,330	27	$102,753	21	$46.31	2,400	1.04
South Dakota	$128,720	5	$145,305	3	$61.89	620	1.35
Tennessee	$84,160	36	$91,608	35	$40.46	3,970	1.21
Texas	$99,160	22	$102,167	24	$47.67	18,200	1.29
Utah	$77,390	44	$78,279	44	$37.21	2,520	1.45
Vermont	$110,020	12	$112,313	12	$52.89	520	1.73
Virginia	$102,640	16	$101,519	25	$49.35	6,340	1.54
Washington	$114,050	11	$106,576	15	$54.83	5,790	1.63
West Virginia	$80,010	38	$89,400	37	$38.47	670	0.96
Wisconsin	$119,430	10	$126,925	4	$57.42	5,200	1.77
Wyoming	$77,490	43	$83,600	41	$37.26	310	1.12

BLS OEWS, May 2025, state estimates. Adjusted pay = median ÷ (state price level ÷ 100), using BEA regional price parities for 2024; it ignores taxes. Figures for states with few workers in the occupation have larger survey errors and can change sharply from one year to the next. “—” means BLS did not publish the figure (2 states). State names link to each state’s highest-paying jobs.

Best-paying metro areas for financial advisors

319 metro areas with published pay

Highest median pay
Metro area	Median	Adjusted	Jobs
New York-Newark-Jersey City, NY-NJ	$170,050	$151,071	23,980
San Francisco-Oakland-Fremont, CA	$160,610	$138,920	7,130
Muskegon-Norton Shores, MI	$159,990	$172,927	100
Springfield, IL	$154,370	$166,446	100
Amherst Town-Northampton, MA	$145,190	$144,838	40
Bloomington, IL	$141,070	$150,817	60
Santa Fe, NM	$138,790	$140,523	110
San Jose-Sunnyvale-Santa Clara, CA	$136,820	$123,905	1,530
Bridgeport-Stamford-Danbury, CT	$135,770	$127,049	2,500
Staunton-Stuarts Draft, VA	$133,900	$146,936	40

Most jobs
Metro area	Jobs	Median	Adjusted
New York-Newark-Jersey City, NY-NJ	23,980	$170,050	$151,071
Los Angeles-Long Beach-Anaheim, CA	13,980	$124,490	$109,619
Miami-Fort Lauderdale-West Palm Beach, FL	8,390	$125,670	$110,087
Chicago-Naperville-Elgin, IL-IN	8,370	$113,210	$109,281
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD	7,390	$116,560	$113,657
San Francisco-Oakland-Fremont, CA	7,130	$160,610	$138,920
Dallas-Fort Worth-Arlington, TX	6,230	—	—
Phoenix-Mesa-Chandler, AZ	5,000	$103,680	$100,352
Charlotte-Concord-Gastonia, NC-SC	4,850	$99,440	$102,149
Denver-Aurora-Centennial, CO	4,700	$98,740	$93,343

BLS OEWS, May 2025, metropolitan statistical areas; adjusted with BEA metro price parities (2024).

What moves financial advisor pay: employers and settings

Financial advisor pay varies more than in most jobs. The percentiles run from $50,190, at the 10th, to $357,020, at the 90th, and the mean of $156,670 sits well above the median of $105,070 because a minority of advisors earn very large incomes. That spread reflects how advisors are paid: many earn commissions or a percentage of the assets they manage on top of, or instead of, a salary, so income tracks the size of the client book more than years worked.

Employer type matters. Securities and investment firms pay a median of $120,870 compared with $95,720 at banks and credit unions. Insurance agencies ($83,830) and insurance carriers ($86,940) are lower.

Location follows where wealth is concentrated. New York has the highest state median at $166,400, followed by New Jersey at $158,570, while Mississippi is lowest at $63,300. California has the most jobs, 32,200. Credentials such as the CFP mark and a master's degree can help attract larger clients, though BLS does not publish pay by credential.

Where financial advisors work
Industry	Share of jobs	Median pay
Securities, Commodity Contracts, and Other Financial Investments and Related Activities	72%	$120,870
Credit Intermediation and Related Activities (5221 and 5223 only)	16.8%	$95,720
Agencies, Brokerages, and Other Insurance Related Activities	2.4%	$83,830
Management of Companies and Enterprises	1.8%	$95,570
Accounting, Tax Preparation, Bookkeeping, and Payroll Services	1.5%	$96,850
Insurance Carriers	0.7%	$86,940

Private employers and government
Employer type	Jobs	Median pay
Private employers	266,380	$105,200
State government (incl. schools and hospitals)	150	$67,370
Local government (incl. schools and hospitals)	270	$64,850

BLS OEWS, May 2025, national industry-specific and ownership estimates (4-digit NAICS).

Financial Advisor pay over time

Median annual pay, 2015–2025

$105K $89.2K

2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025

Nominal median (dollars of each year)In May 2025 dollars (adjusted with CPI-U)

The median rose from $89,160 in 2015 to $105,070 in 2025, up 18% in nominal dollars. After inflation, the 2015 median is worth $120,527 in May 2025 dollars, so real pay fell 13% over the period.

BLS OEWS, May 2025 and earlier May releases; inflation from the CPI-U, US city average, May of each year.

What financial advisors do

A financial advisor helps individuals and families decide what to do with their money: how much to save for retirement, how to invest it, what insurance to carry, how to pay for a child's college and how to pass assets on. BLS calls the job personal financial advisor; common titles include financial planner, wealth manager, wealth advisor and investment advisor, and those who meet CFP Board's requirements use the Certified Financial Planner (CFP) mark.

About 72% of these jobs are at securities and investment firms, such as brokerages, independent advisory firms and wealth management offices. Banks and credit unions employ most of the rest, with smaller numbers at insurance agencies and accounting firms. About one in ten advisors is self-employed. The work is office-based and client-facing: advisors gather a client's financial details, build a plan, place trades or recommend products, and review the plan at least once a year. A large share of time goes to finding new clients through referrals, seminars and networking, and evening or weekend meetings are common.

A typical day

Interview clients about income, debts, goals and how much risk they can stomach
Build written financial plans covering retirement, college, taxes and insurance
Choose investments or recommend funds, annuities and insurance policies
Place trades and rebalance portfolios within the client's agreement
Meet clients at least yearly to review results and adjust the plan after life changes
Prospect for new clients through referrals, seminars and community events
Keep records and disclosures in line with FINRA, SEC and state rules

Also called: financial planner, personal financial advisor, wealth manager, financial advisors, certified financial planner (cfp), financial consultant, financial counselor, financial life planner.

How to become a financial advisor

Full guide

Most financial advisors earn a bachelor's degree, are hired by a firm that sponsors them for FINRA securities exams (usually the SIE plus Series 7 and Series 65 or 66), and train on the job for a year or more. The CFP certification is optional and takes another 18 to 24 months on average.

Typical time: About 6-7 years (degree plus 2-3 years of training and licensing, with CFP certification for many); Fastest: About 4.5 years (bachelor's degree, then licensing exams in the first months on the job)
Minimum education: Bachelor's degree in any field (finance, economics, business or math are common); required for the CFP mark
License: Securities registration required for anyone who sells securities or gives investment advice for pay (FINRA exams; investment advisers register with the SEC or the state). Insurance sales require a state license. CFP is voluntary.
Typical training cost: $42.7K–$43.7K; See the guide for what it includes

Read the step-by-step guide to becoming a financial advisor: each step with its time and cost, education options, exams, licensing and advancement.

Is it worth it? Training cost against pay

Compare careers

Training time: About 6-7 years (degree plus 2-3 years of training and licensing, with CFP certification for many); Typical path in our guide
Training cost: $42.7K–$43.7K; Tuition and exam fees, before aid
Median pay: $105,070; $54,090 above the all-jobs median ($50,980)
Cost vs. one year's pay: 41–42%; Training cost as a share of a year at the median

Once qualified, the pay difference over the typical US job at the median ($54,090 a year before tax) would repay the training cost in less than a year after training ends (about 6-7 years (degree plus 2-3 years of training and licensing, with cfp certification for many) in our guide). This is a rough guide: it ignores taxes, financial aid, interest, earnings given up while training and how pay changes over a career. How we calculate ROI.

Job outlook for financial advisors

BLS Employment Projections 2025–35

Projected growth: +1.4%; All occupations +3.5%
Jobs in 2025: 299,400; 303,500 projected for 2035
Openings each year: 17,100; New jobs plus replacements
Self-employed: 9.7%; Not in the pay figures above

BLS expects employment of personal financial advisors to grow just 1.4% from 2025 to 2035, from 299,400 to 303,500 jobs, slower than the 3.5% average for all occupations. Still, about 17,100 openings a year are projected, mostly to replace advisors who retire or leave the field. Retiring baby boomers and younger clients with rising incomes or inheritances should keep demand steady. BLS also notes that AI-based advice tools may hold growth down, though many people are expected to keep using human advisors for complicated situations.

Related careers and their pay

Related occupations from O*NET 31.0; median annual pay from BLS OEWS, May 2025.

Financial Advisor salary FAQ

How much do financial advisors make an hour?

The median hourly wage for financial advisors was $50.51 in May 2025. The lowest-paid 10% earned less than $24.13 an hour and the highest-paid 10% more than $171.65. Hourly figures are BLS estimates for all workers in the occupation, full-time and part-time.

Which state pays financial advisors the most?

New York has the highest median pay for financial advisors, $166,400 a year, followed by New Jersey ($158,570) and California ($130,330). After adjusting for each state's price level, New York comes out ahead at about $154,187 in national-average dollars.

Do financial advisors make $200,000 a year?

Some do: based on the BLS percentiles, between 10% and 25% of financial advisors earn more than $200,000 a year. The median is $105,070, and the top 10% earn more than $357,020. Pay generally rises with experience, specialization and location.

What is the difference between a financial advisor and a financial planner?

In everyday use the terms overlap, and BLS counts both as personal financial advisors. "Financial advisor" is a broad title used by brokers, bank representatives and investment adviser representatives. A financial planner usually builds a full plan covering retirement, taxes, insurance and estate issues. The Certified Financial Planner (CFP) mark is protected: only people who meet CFP Board's education, exam, experience and ethics requirements may use it.

How do financial advisors get paid?

Advisors are paid in several ways: a salary, commissions on products they sell, a percentage of the assets they manage, flat or hourly planning fees, or a mix. That is why the pay spread is so wide, from $50,190, the 10th percentile, to $357,020, the 90th percentile. Ask any employer exactly how its pay formula works before you accept an offer.

Is it hard to become a financial advisor?

Getting hired is not the hardest part; staying is. New advisors must pass securities exams such as the SIE and Series 7 or Series 65, then build a client base, which usually takes years. A new advisor may spend much of the first few years prospecting before the client book can support them. Joining an established team, where you serve existing clients while you build your own, can ease the start.

Sources

Data updated October 28, 2026 · Text checked against its sources October 28, 2026

U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS), May 2025 estimates, released April 30, 2026, SOC 13-2052
U.S. Bureau of Labor Statistics, Employment Projections 2025–2035, released September 2026
O*NET 31.0 Database (13-2052.00), U.S. Department of Labor, Employment and Training Administration (USDOL/ETA), used under CC BY 4.0; tasks rewritten by Careers and Salaries
U.S. Bureau of Economic Analysis, Regional Price Parities by state and metro area, 2024
U.S. Bureau of Labor Statistics, Consumer Price Index for All Urban Consumers (CPI-U), US city average, May values
U.S. Department of Education, College Scorecard field-of-study and institution data, most recent cohorts, released 2026-10-15
Personal Financial Advisors, Occupational Outlook Handbook, U.S. Bureau of Labor Statistics · checked October 28, 2026
Personal Financial Advisors (13-2052.00), O*NET OnLine · checked October 28, 2026
Securities Industry Essentials (SIE) Exam, FINRA · checked October 28, 2026
Series 7 - General Securities Representative Exam, FINRA · checked October 28, 2026
Series 65 and Series 66 Exams, FINRA / NASAA · checked October 28, 2026
CFP Certification Process, CFP Board · checked October 28, 2026
Upcoming Exam Dates and Registration Process, CFP Board · checked October 28, 2026
Continuing Education Requirements, CFP Board · checked October 28, 2026
License Finder, CareerOneStop, U.S. Department of Labor · checked October 28, 2026

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