10 High-Wage Cities Where Advisors' Salaries Go the Furthest
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The financial advisor profession appears to have a bright future, according to a new report from SmartAsset.
The report cites a Bureau of Labor Statistics projection that the field will grow by 15% between 2021 and 2031, three times the average growth rate across all professions.
SmartAsset found that the median income for a financial advisor was about $95,390 in 2022, though wages vary from city to city. To see where financial advisors earn the most and how far those wages go after accounting for taxes and the local cost of living, SmartAsset compared data for 126 cities.
Researchers gathered wage and occupation data from the Bureau of Labor Statistics for 2022, and cost-of-living data from the Council for Community and Economic Research for the third quarter of 2022. They used the SmartAsset paycheck calculator to determine incomes on the local median wages for personal financial advisors. And to find out how far that money stretches, they applied the cost of living to the post-tax income.
Out of the 30 cities with the highest advisor salaries, here are the 10 in which those salaries go the furthest, adjusted for taxes and cost of living, according to SmartAsset.
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