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Financial advisor: pay, job outlook and how to become one

Updated October 23, 2026. Based on U.S. Bureau of Labor Statistics and O*NET data. Published by Humblebee.

$105,070median pay per year, or $50.51 an hour, May 2025[1]
  1. $50,190lowest 10% earn less
  2. $72,44025th percentile
  3. $105,070median
  4. $176,79075th percentile
  5. $357,020top 10% earn more
Middle half of workers in the inner band[5]Median for all US jobs, $50,980[2]

The median pay for a financial advisor was $105,070 a year, about twice the median for all occupations[1][2]. BLS projects jobs to grow 1.4% from 2025 to 2035, slower than the average for all occupations[3][4].

Job growth, 2025–35
+1.4%[3]
Openings per year
17,100[6]
Typical entry education
Bachelor's degree[7]

How much do financial advisors make?

BLS counts financial advisors under the title Personal Financial Advisors. In May 2025, the median pay was $105,070 a year, or $50.51 an hour[1]. Half of these workers earned more and half earned less[1]. For all occupations, the median annual wage was $50,980[2].

The average (mean) was higher, at $156,670 a year, or $75.32 an hour[8]. Pay varies a lot from one advisor to the next:

Measure Annual wage Hourly wage
10th percentile[5][9] $50,190 $24.13
25th percentile[5][9] $72,440 $34.83
Median[1] $105,070 $50.51
Mean[8] $156,670 $75.32
75th percentile[5][9] $176,790 $84.99
90th percentile[5][9] $357,020 $171.65

The lowest-paid 10% earned less than $50,190, and the highest-paid 10% earned more than $357,020[5]. A percentile is a boundary, and BLS publishes percentile wages, not a starting salary[10].

These figures cover workers paid a wage or salary. They leave out self-employed workers, nonproduction bonuses and the cost of benefits such as health insurance[11]. In 2025, 9.7% of financial advisors were self-employed[12].

Pay by state and city

Among the 48 states and DC with published data, New York had the top median wage at $166,400, followed by New Jersey at $158,570 and California at $130,330[13]. Mississippi had the lowest median in the list, at $63,300[13].

California had the most jobs, at 32,200, followed by New York with 21,550 and Florida with 21,490[14].

Among metro areas with at least 100 jobs, New York-Newark-Jersey City had the top median wage at $170,050, followed by San Francisco-Oakland-Fremont at $160,610[15]. The same New York area also had the most jobs, at 23,980[16]. Los Angeles-Long Beach-Anaheim came next with 13,980 jobs[16].

Show median pay in 48 states and DC
StateMedian per yearJobs
New York[13]$166,40021,550
New Jersey$158,5709,300
California$130,33032,200
Connecticut$129,720n/a
South Dakota$128,720620
Massachusetts$125,670n/a
Delaware$125,050n/a
Oregon$122,8303,070
Illinois$120,1309,760
Wisconsin$119,4305,200
Washington$114,0505,790
Vermont$110,020520
Pennsylvania$105,20012,200
District of Columbia$104,990480
Minnesota$102,6605,280
Virginia$102,6406,340
Kansas$102,5304,150
Georgia$101,4506,830
Florida$100,97021,490
Missouri$99,9304,480
Maryland$99,8805,260
Texas$99,16018,200
Montana$97,450n/a
Arizona$96,9506,430
North Carolina$96,88012,340
New Hampshire$96,7801,850
South Carolina$96,3302,400
Idaho$94,370760
New Mexico$94,270610
Nebraska$93,2802,210
Nevada$92,7201,730
Iowa$92,3101,920
Ohio$90,9907,680
Colorado$89,2806,730
Indiana$87,7105,400
Tennessee$84,1603,970
Rhode Island$80,2001,130
West Virginia$80,010670
Arkansas$79,4201,320
Alaska$78,690n/a
Alabama$77,9902,540
Michigan$77,9306,570
Wyoming$77,490310
Utah$77,3902,520
North Dakota$76,870540
Hawaii$76,070550
Oklahoma$68,6701,140
Kentucky$67,1502,040
Mississippi$63,300790

How to become a financial advisor

The typical path, according to BLS, looks like this:

1) Earn a bachelor's degree. This is the usual education for entry, and no related work experience is typically needed[7]. Employers usually do not ask for a specific major. Business, social science and math are common fields[17]. 2) Complete on-the-job training[18]. New advisors learn from more experienced advisors how to build a client network and develop investment portfolios. This training usually lasts more than a year[18][7]. 3) Get the licenses your work needs. Advisors who buy or sell stocks, bonds or insurance, or who give specific investment advice, may need several licenses, and which ones depends on the products they sell[19]. 4) Register if required[19]. Advisors in small firms that manage client investments register with state regulators. Those in large firms register with the U.S. Securities and Exchange Commission[19]. State licensing board details are available from CareerOneStop[20].

A master's degree and certification may help with advancement[21]. Certifications may also build an advisor's reputation and help attract clients[22].

In an O*NET survey of 26 workers, 58% said a bachelor's degree is the education level required[23]. Another 23% named a post-baccalaureate certificate, 12% a master's degree and 8% a post-secondary certificate[23]. Small surveys like this give only a rough picture.

BLS lists several useful qualities for the job: analytical, interpersonal, math, sales and speaking skills[24][25][26][27][28].

What financial advisors do

Financial advisors help clients plan their money, drawing on knowledge of taxes, investments, insurance, pensions and real estate[29]. Common tasks include:

O*NET lists job titles that workers report, including financial planner, investment advisor and portfolio manager[31].

Where they work

Financial advisors typically work in offices. Some travel to conferences, teach evening finance seminars or attend networking events to find clients[32]. Full-time work is the usual schedule, and some advisors work more than 40 hours a week[33]. Evening and weekend meetings with clients are possible[33].

In 2025, 65% of financial advisors worked in the securities, commodity contracts and related financial investments industry[34].

Job outlook

BLS projects financial advisor employment to grow 1.4% from 2025 to 2035[3]. That is about 299,400 jobs rising to 303,500, a gain of 4,100[3]. Growth for all occupations is projected at 3.5%[4]. These counts include self-employed workers[3].

BLS also expects about 17,100 openings a year, on average[6]. Openings include jobs created when workers retire or move to other occupations, not only new jobs[6]. Each year, 2.4% of advisors leave the labor force and 3.2% move to a different occupation[35].

The OEWS count of about 266,800 jobs covers wage and salary workers only, so it differs from the projection counts[36][3].

Is it a good fit?

The facts point to a job with pay well above the all-occupation median, though the range is wide[1][5][2]. Entry needs a bachelor's degree and more than a year of on-the-job training[7][18]. The work involves talking with clients, explaining ideas in plain terms and, for some, selling services to find new clients[25][27][28]. Licenses may also be part of the picture, depending on the products an advisor sells[19]. Job growth is projected to be slower than for all occupations, but openings still come up each year[3][4][6].

Related occupations from O*NET, with BLS median pay and projected growth[37].

Frequently asked questions

How much does a financial advisor make an hour?
The median was $50.51 an hour in May 2025, and the average was $75.32[1][8]. The lowest-paid 10% earned less than $24.13 an hour, and the highest-paid 10% earned more than $171.65[9].
What degree do you need to be a financial advisor?
BLS lists a bachelor's degree as the typical education for entry[7]. Employers usually do not set one required major[17].
How long does it take to become a financial advisor?
After being hired, advisors usually train on the job for more than a year[18].
Is financial advisor a growing job?
BLS projects 1.4% growth from 2025 to 2035, compared with 3.5% for all occupations[3][4]. About 17,100 openings a year are expected[6].
What is the highest paying state for financial advisors?
New York had the top median wage in May 2025, at $166,400, followed by New Jersey at $158,570 and California at $130,330[13].

Facts and sources

  1. BLS OEWS, May 2025: the median wage for Personal Financial Advisors in the US was $105,070 per year and $50.51 per hour. Half of workers earned more and half earned less. BLS OEWS, May 2025
  2. BLS OEWS, May 2025: the median annual wage for all occupations in the US was $50,980. BLS OEWS, May 2025
  3. BLS Employment Projections: employment of Personal Financial Advisors is projected to grow 1.4% from 2025 to 2035, from about 299,400 to 303,500 jobs (a change of +4,100). These counts include self-employed workers. BLS Employment Projections
  4. BLS Employment Projections: employment in all occupations is projected to grow 3.5% from 2025 to 2035. BLS Employment Projections
  5. BLS OEWS, May 2025, annual wage percentiles for Personal Financial Advisors: 10th percentile $50,190, 25th percentile $72,440, 75th percentile $176,790, 90th percentile $357,020. The 10th percentile means 10% of workers earned less. BLS OEWS, May 2025
  6. BLS Employment Projections: about 17,100 openings for Personal Financial Advisors are projected each year, on average, from 2025 to 2035. Openings include jobs that open when workers retire or move to other occupations, not only new jobs. BLS Employment Projections
  7. BLS Employment Projections, typical path into Personal Financial Advisors: education needed for entry: Bachelor's degree; work experience in a related occupation: None; typical on-the-job training: Long-term on-the-job training. BLS Employment Projections
  8. BLS OEWS, May 2025: the mean (average) wage for Personal Financial Advisors was $156,670 per year and $75.32 per hour. BLS OEWS, May 2025
  9. BLS OEWS, May 2025, hourly wage percentiles for Personal Financial Advisors: 10th percentile $24.13, 25th percentile $34.83, 75th percentile $84.99, 90th percentile $171.65. BLS OEWS, May 2025
  10. BLS OEWS FAQ: a percentile wage is a boundary. The median (50th percentile) separates the highest-paid 50% from the lowest-paid 50% of workers in the occupation. OEWS publishes percentile wages, not a starting salary. BLS OEWS, May 2025
  11. BLS OEWS FAQ: OEWS covers part-time and full-time workers paid a wage or salary. It does not cover the self-employed, owners and partners in unincorporated firms, household workers or unpaid family workers. OEWS wages do not include nonproduction bonuses or employer costs of benefits such as health insurance or retirement contributions. BLS OEWS, May 2025
  12. BLS Employment Projections: 9.7% of Personal Financial Advisors were self-employed in 2025. BLS Employment Projections
  13. Median annual wage for Personal Financial Advisors in every state with published data, May 2025 (table on this page). BLS OEWS, May 2025
  14. BLS OEWS, May 2025, states with the most Personal Financial Advisors jobs: California 32,200; New York 21,550; Florida 21,490; Texas 18,200; North Carolina 12,340. BLS OEWS, May 2025
  15. BLS OEWS, May 2025, metro areas with the highest median annual wage for Personal Financial Advisors (areas with at least 100 jobs): New York-Newark-Jersey City, NY-NJ $170,050; San Francisco-Oakland-Fremont, CA $160,610; Muskegon-Norton Shores, MI $159,990; Springfield, IL $154,370; Santa Fe, NM $138,790; San Jose-Sunnyvale-Santa Clara, CA $136,820; Bridgeport-Stamford-Danbury, CT $135,770; Bend, OR $133,080. BLS OEWS, May 2025
  16. BLS OEWS, May 2025, metro areas with the most Personal Financial Advisors jobs: New York-Newark-Jersey City, NY-NJ 23,980 (median $170,050); Los Angeles-Long Beach-Anaheim, CA 13,980 (median $124,490); Miami-Fort Lauderdale-West Palm Beach, FL 8,390 (median $125,670); Chicago-Naperville-Elgin, IL-IN 8,370 (median $113,210); Philadelphia-Camden-Wilmington, PA-NJ-DE-MD 7,390 (median $116,560); San Francisco-Oakland-Fremont, CA 7,130 (median $160,610). BLS OEWS, May 2025
  17. Occupational Outlook Handbook, How to Become One: Education. BLS Occupational Outlook Handbook
  18. Occupational Outlook Handbook, How to Become One: Training. BLS Occupational Outlook Handbook
  19. Occupational Outlook Handbook, How to Become One: Licenses, Certifications, and Registrations. BLS Occupational Outlook Handbook
  20. Occupational Outlook Handbook, How to Become One: Licenses, Certifications, and Registrations. BLS Occupational Outlook Handbook
  21. Occupational Outlook Handbook, How to Become One. BLS Occupational Outlook Handbook
  22. Occupational Outlook Handbook, How to Become One: Licenses, Certifications, and Registrations. BLS Occupational Outlook Handbook
  23. O*NET 13-2052.00 survey of workers (26 respondents), education level they say is required: Bachelor's Degree 58%, Post-Baccalaureate Certificate 23%, Master's Degree 12%, Post-Secondary Certificate 8% (levels under 5% not listed). O*NET OnLine
  24. Occupational Outlook Handbook, How to Become One: Important Qualities. BLS Occupational Outlook Handbook
  25. Occupational Outlook Handbook, How to Become One: Important Qualities. BLS Occupational Outlook Handbook
  26. Occupational Outlook Handbook, How to Become One: Important Qualities. BLS Occupational Outlook Handbook
  27. Occupational Outlook Handbook, How to Become One: Important Qualities. BLS Occupational Outlook Handbook
  28. Occupational Outlook Handbook, How to Become One: Important Qualities. BLS Occupational Outlook Handbook
  29. O*NET description of Personal Financial Advisors. O*NET OnLine
  30. O*NET task list for Personal Financial Advisors. O*NET OnLine
  31. O*NET 13-2052.00 sample job titles reported by workers: Certified Financial Planner (CFP), Financial Advisor, Financial Consultant, Financial Counselor, Financial Life Planner, Financial Planner, Investment Advisor, Portfolio Manager. O*NET OnLine
  32. Occupational Outlook Handbook, Work Environment. BLS Occupational Outlook Handbook
  33. Occupational Outlook Handbook, Work Environment: Work Schedules. BLS Occupational Outlook Handbook
  34. BLS Occupational Outlook Handbook, largest employers of personal financial advisors in 2025: Securities, commodity contracts, and other financial investments and related activities 65%. BLS Occupational Outlook Handbook
  35. BLS Employment Projections, 2025-35 annual average for Personal Financial Advisors: 2.4% of workers leave the labor force each year and 3.2% move to a different occupation. BLS Employment Projections
  36. BLS OEWS, May 2025: about 266,800 people were employed as Personal Financial Advisors in the US (wage and salary jobs, not counting self-employed workers). BLS OEWS, May 2025
  37. Related occupations (O*NET) with BLS pay, growth and entry education. O*NET OnLine

Notes are for reading the data only. They are not facts and cannot be cited: use the wage_scope and percentile_meaning facts instead. OEWS employment (jobs in May 2025) and Employment Projections employment (2025, includes self-employed) are different measures and can differ. O*NET education shares come from a small survey of workers in the occupation, not from all workers.

This page includes information from the O*NET 31.0 Database by the U.S. Department of Labor, Employment and Training Administration (USDOL/ETA). Used under the CC BY 4.0 license. O*NET® is a trademark of USDOL/ETA. CareerFacts has modified all or some of this information. USDOL/ETA has not approved, endorsed, or tested these modifications.