Financial Advisor Salary in Massachusetts: Cost of Living Adjusted (2024)

What does a Financial Advisor salary really buy you in Massachusetts?

Massachusetts is 9.4% pricier than the US average

Data: BLS OEWS 2024 + BEA Regional Price Parities 2022 • Updated 2026-03-31

Nominal Salary

$101,320

Median annual (2024)

→ -8.6%

Real Purchasing Power

$92,614

COL-adjusted (RPP=109.4)

Massachusetts Cost of Living Index

Massachusetts's Regional Price Parity (RPP) is 109.4, meaning prices are 9.4% higher the national average. A Financial Advisor earning $101,320 in Massachusetts has the equivalent purchasing power of $92,614 in an average-cost US state.

MA: 109.4

Cheapest (~85) US Avg (100) Priciest (~115)

Key Insight

While $101,320 sounds high, Massachusetts's elevated cost of living erases 9% of that salary's purchasing power. Your real buying power is $92,614. Consider whether the higher pay offsets the higher costs.

Best States for Financial Advisor (After Cost of Living)

Where does Financial Advisor salary stretch the furthest? Top 10 states ranked by COL-adjusted median salary.

1. New York

$156,105

RPP 107.6

2. Idaho

$148,627

RPP 91.8

3. South Dakota

$140,204

RPP 88.0

4. Delaware

$130,785

RPP 98.0

5. Wisconsin

$125,330

RPP 92.3

6. Maryland

$116,676

RPP 105.0

7. California

$114,355

RPP 112.5

8. New Jersey

$113,685

RPP 108.8

9. Kansas

$112,011

RPP 90.0

10. North Dakota

$111,600

RPP 88.7

Massachusetts ranks #24 out of 46 states for Financial Advisor after cost-of-living adjustment.

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Frequently Asked Questions

What is the real salary for a Financial Advisor in Massachusetts after cost of living?

A Financial Advisor in Massachusetts earns a median salary of $101,320 per year. After adjusting for Massachusetts's cost of living (RPP=109.4), the real purchasing power is $92,614 — a -8.6% difference.

Is Massachusetts expensive to live in?

Massachusetts's cost of living is 9.4% higher than the national average according to the BEA Regional Price Parities (2022). The RPP index for Massachusetts is 109.4 (US average = 100).

What are Regional Price Parities (RPP)?

Regional Price Parities (RPPs) are price indexes published by the U.S. Bureau of Economic Analysis (BEA) that measure differences in price levels across states. They are expressed as a percentage of the national average (US = 100). Higher RPP means higher cost of living.

How is the cost-of-living adjusted salary calculated?

The adjusted salary is calculated as: Nominal Salary x (100 / RPP). For a Financial Advisor in Massachusetts: $101,320 x (100 / 109.4) = $92,614. This represents what the salary would be worth in a state with average living costs.

Does the high cost of living in Massachusetts offset the salary?

Partially — a Financial Advisor's nominal salary of $101,320 in Massachusetts has 8.6% less purchasing power due to higher living costs. The real value is $92,614. However, Massachusetts may offer better career opportunities, networking, and industry access.