Personal financial advisors

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2019 Workforce
380k
N/A
Average Age
44.9
N/A
Average Salary
$143,617
N/A
Average Male Salary
$165,768
N/A
Average Female Salary
$95,388
N/A

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.

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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).

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Wage by Location

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

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Spatial Concentration

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

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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.

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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%.

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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.

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Race & Ethnicity

Most Common Race or Ethnicity of Personal financial advisors
  1. White (Non-Hispanic)
  2. Asian (Non-Hispanic)
  3. 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.

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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.

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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.
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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.

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