Personal financial advisors

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2019 Workforce

380k

Average Age

44.9

Estimated Job Growth

14.9%

10-year projection

Average Salary

$143,617

Average Male Salary

$165,768

Average Female Salary

$95,388

About

Personal financial advisors are most often employed by the Securities, commodities, funds, trusts & other financial investments industry. The average yearly wage for Personal financial advisors was $143,617 in 2016. The top 3 most similar occupations to Personal financial advisors by wage are Actuaries, Aircraft pilots & flight engineers, and Sales engineers.

Personal financial advisors are part of the Business & financial operations occupations, along with Agents & business managers of artists, performers, & athletes, Buyers & purchasing agents, farm products, Wholesale & retail buyers, except farm products, Purchasing agents, except wholesale, retail, & farm products, Claims adjusters, appraisers, examiners, & investigators, and 24 more.

The top 3 locations that employ the most Personal financial advisors are Murray Hill, Gramercy & Stuyvesant Town PUMA, NY, Back Bay, Beacon Hill, Charlestown, East Boston, Central & South End PUMA, MA, and Ankeny & Altoona Cities PUMA, IA. The top 3 locations with a relatively high concentration of Personal financial advisors are Murray Hill, Gramercy & Stuyvesant Town PUMA, NY, Scottsdale (North), Phoenix (Far Northeast) Cities & Cave Creek PUMA, AZ, and Ankeny & Altoona Cities PUMA, IA.

Photo by paul bica

Management, business, & financial occupations Management, business, science, & arts occupations Business & financial operations occupations

Employment

Information on the businesses and industries that employ Personal financial advisors and on wages and locations for those in the field. Securities, commodities, funds, trusts & other financial investments is the industry that employs the most Personal financial advisors, both by share and by number, though the highest paid industry for Personal financial advisors, by average wage, is Computer Systems Design. Personal financial advisors are paid most in District of Columbia (West) PUMA, DC but are relatively concentrated in Murray Hill, Gramercy & Stuyvesant Town PUMA, NY.

Wages

Yearly Wage

$143,617

AVERAGE SALARY

± $5,779

In 2019, Personal financial advisors earned an average of $143,617, $88,093 more than than the average national salary of $55,524.

Actuaries make somewhat more than Personal financial advisors while Sales engineers make somewhat less. This chart shows the various occupations closest to Personal financial advisors as measured by average annual salary in the US.

Wage Distribution

0.468

WAGE GINI

In 2015, Personal financial advisors had a wage GINI coefficient of 0.468, which is lower than than the national average of 0.478. In other words, wages are distributed more evenly for Personal financial advisors (shown in red) than for the overall labor force (shown in gray).

Wage by Location

HIGHEST PAYING PUMAS

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Personal financial advisors.

Spatial Concentration

PUMAs with a Relatively High Concentration of Personal financial advisors

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Personal financial advisors.

Industries

Most Common

The most common industries employing Personal financial advisors, by number of employees, are Securities, commodities, funds, trusts & other financial investments, Banking & related activities, and Nondepository credit & related activities.

Highest Paying

The highest paying industries for Personal financial advisors, by average wage, are Advertising, public relations & related services, Real estate, Lessors of real estate, and offices of real estate agents and brokers, Other administrative & other support services, Aircraft & parts manufacturing, Real estate, Legal services, Electronic component & product manufacturing, n.e.c. , Computer Systems Design, Other health care services, Securities, commodities, funds, trusts & other financial investments, Executive offices & legislative bodies, Securities, commodities, funds, trusts & other financial investments, Real estate, Securities, commodities, funds, trusts & other financial investments, Legal services, Securities, commodities, funds, trusts & other financial investments, and Banking & related activities.

Industries by Share

380k

2019 Workforce

± 15,106

7.71%

1 YEAR GROWTH

± 5.33%

The number of people employed as Personal financial advisors has been growing at a rate of 7.71%, from 352,351 people in 2018 to 379,512 people in 2019.

This graphic shows the share of Personal financial advisors employed by various industries. Securities, commodities, funds, trusts & other financial investments employs the largest share of Personal financial advisors at 58.6%, followed by Banking & related activities with 10.7% and Nondepository credit & related activities with 8.04%.

Diversity

Demographic information on Personal financial advisors in the US. The average age of male Personal financial advisors in the workforce is 45.2 and of female Personal financial advisors is 44.2, and the most common race/ethnicity for Personal financial advisors is White (Non-Hispanic).

Gender Composition

260k

MALE WORKFORCE

± 12,510

119k

FEMALE WORKFORCE

± 8,482

68.5% of Personal financial advisors are Male, making them the more common gender in the occupation. This chart shows the gender breakdown of Personal financial advisors.

Race & Ethnicity

Most Common Race or Ethnicity of Personal financial advisors

White (Non-Hispanic)
Asian (Non-Hispanic)
Black (Non-Hispanic)

77.9% of Personal financial advisors are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 6.68% of Personal financial advisors, Asian (Non-Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Personal financial advisors.

Age by Gender

45.2

AVERAGE MALE AGE

± 0.673

44.2

AVERAGE FEMALE AGE

± 0.925

The median age of Personal financial advisors is 44.9, and Male employees are generally 1.05 years older than than their Female counterparts.

Education

Data on higher education choices for Personal financial advisors from The Department of Education and Census Bureau. The most common major for Personal financial advisors is Business but a relatively high number of Personal financial advisors hold a major in Business.

Majors

ACS PUMS data only shows the major for bachelor's degrees. However, we can filter the data based on highest degree obtained.

MOST COMMON MAJORS

MOST SPECIALIZED MAJORS

Skills

Data on the critical and distinctive skills necessary for Personal financial advisors from the Bureau of Labor Statistics. Personal financial advisors need many skills, but most especially Reading Comprehension, Active Listening, and Writing. The revealed comparative advantage (RCA) shows that Personal financial advisors need more than the average amount of Management of Financial Resources, Mathematics, and Operations Analysis.

Radar Distribution

Bar Chart

Growth Projections

Projections on wages and job growth for Personal financial advisors from the Bureau of Labor Statistics. The ten-year national workforce is projected to grow 6.85%, but Personal financial advisors are expected to see a growth of 14.9% over the same period. This occupation is expected to grow higher than the national average.

Job Growth

14.9%

ESTIMATED GROWTH

6.85%

NATIONAL AVERAGE

This line chart shows the 10-year projected employment growth (from 2018 to 2028) for Personal financial advisors. This profession is expected to grow faster than 6.85%, the average rate of national job growth.