Personal Financial Advisor Salary in Michigan
Based on 7K+ workers in Michigan
Median Annual Salary (MI)
$77,930
$37.47/hr
vs National Average
$99,081
-21.3% vs national median
Salary Range (10th–90th)
$45K – $289K
7K employed in Michigan
Personal Financial Advisors in Michigan earn a median salary of $77,930 per year, according to current labor data. This represents approximately 21% below the national average for the profession. Currently, around 6,570 workers are employed as Personal Financial Advisors throughout the state, making it a notable segment of Michigan's financial services workforce.
The Personal Financial Advisor salary in Michigan varies considerably based on several factors, including years of experience, educational credentials, and the size of the employer. Advisors working for larger firms or managing substantial client portfolios typically earn toward the higher end of the range, which extends from $44,780 to $288,860 annually. Geographic location within the state, client base demographics, and specialization areas also influence compensation levels in this field.
Salary Distribution — Personal Financial Advisor in Michigan
| Percentile | Annual Salary |
|---|---|
| 10th percentile | $44,780 |
| 25th percentile | $49,570 |
| Median (50th percentile) | $77,930 |
| 75th percentile | $138,640 |
| 90th percentile | $288,860 |
Top-Paying Industries for Personal Financial Advisor (U.S.)
Which industries pay Personal Financial Advisors the most — nationwide figures (industry-level data is not available by state). Personal Financial Advisors in Michigan tend to follow these industry patterns.
| Industry (U.S.) | Median Salary | Employed (U.S.) |
|---|---|---|
| Administrative and Support Services | $137,810 | — |
| Finance and Insurance | $106,810 | 248K |
| Professional, Scientific, and Technical Services | $99,320 | 9K |
| Management of Companies and Enterprises | $95,570 | 5K |
| Government (excl. schools, hospitals & USPS) | $76,940 | 310 |
Source: U.S. BLS OEWS National Industry-Specific estimates, May 2025. National figures (not state-specific).
Historical Salary Trend — Personal Financial Advisor in Michigan vs National
| Year | Median Salary (Michigan) |
|---|---|
| 2022 | $80,940 |
| 2023 | $70,390 |
| 2024 | $98,830 |
| 2025 | $77,930 |
| 2026 (projected) | $77,930 |
The latest year is a projection based on recent wage trends — BLS has not yet released that year’s data.
| Year | Michigan Median | National Median |
|---|---|---|
| 2022 | $80,940 | $87,555 |
| 2023 | $70,390 | $92,738 |
| 2024 | $98,830 | $95,571 |
| 2025 | $77,930 | $99,081 |
| 2026 (projected) | $77,930 | $99,081 |
Personal Financial Advisor Salary by Experience Level in Michigan
| Experience Level | Years | Median Annual Salary |
|---|---|---|
| Junior | 0-2 yrs | $49,570 |
| Mid-level | 3-5 yrs | $77,930 |
| Senior | 6-9 yrs | $138,640 |
| Staff / Lead | 10+ yrs | $288,860 |
Personal Financial Advisor Salary in Other States
Related Personal Financial Advisor Salaries in Michigan
How other high-demand occupations in Michigan compare to Personal Financial Advisor ($77,930 median).
| Occupation | Median Salary | vs Personal Financial Advisor | Hourly |
|---|---|---|---|
| Financial Manager in MI | $139,370 | +78.8% | $67.00/hr |
| Economist in MI | $106,350 | +36.5% | $51.13/hr |
| Actuary in MI | $100,640 | +29.1% | $48.38/hr |
| Budget Analyst in MI | $96,430 | +23.7% | $46.36/hr |
| Financial Analyst in MI | $95,420 | +22.4% | $45.88/hr |
| Accountant in MI | $78,820 | +1.1% | $37.89/hr |
| Compliance Officer in MI | $77,390 | -0.7% | $37.21/hr |
| Tax Examiner in MI | $75,040 | -3.7% | $36.08/hr |
| Credit Analyst in MI | $74,640 | -4.2% | $35.88/hr |
| Loan Officer in MI | $74,470 | -4.4% | $35.80/hr |
| Securities Sales Agent in MI | $73,480 | -5.7% | $35.33/hr |
| Financial Examiner in MI | $71,050 | -8.8% | $34.16/hr |
Frequently Asked Questions
How much do personal financial advisors make in Michigan?
- Personal financial advisors in Michigan earn a median salary of $77,930 per year, or approximately $37 per hour. This is 21.3% below the national average for the profession.
What is the salary range for financial advisors in Michigan?
- Personal financial advisors in Michigan can expect salaries ranging from $44,780 at the lower end to $288,860 at the upper end, depending on experience and performance.
Is the Michigan financial advisor salary competitive compared to the national average?
- Michigan's median personal financial advisor salary of $77,930 is 21.3% lower than the national average, making it a less competitive market compared to other states for this profession.
How many personal financial advisors are employed in Michigan?
- There are 6,570 personal financial advisors employed in Michigan, indicating a substantial job market for this profession in the state.