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Financial Advisor Salary in Michigan

How much does a Financial Advisor make in Michigan?

Last updated: 2024 data from the Bureau of Labor Statistics

$98,830
Median Annual Salary
$144,370
Mean Salary
$98,830
Median Salary
$47.51
Hourly Rate
6,030 people work as Financial Advisor in Michigan

About This Job: Financial Advisor

Advise clients on financial plans using knowledge of tax and investment strategies, securities, insurance, pension plans, and real estate. Duties include assessing clients' assets, liabilities, cash flow, insurance coverage, tax status, and financial objectives. May also buy and sell financial assets for clients.

Top Skills

Reading Comprehension
4.0
Active Listening
4.0
Writing
4.0
Speaking
4.0
Critical Thinking
3.88

Key Knowledge Areas

Customer and Personal Service
4.48
Economics and Accounting
4.05
English Language
4.0
Mathematics
3.64
Psychology
3.48
Typical Education: Bachelor's Degree (52.2% of workers)

Source: O*NET OnLine, U.S. Department of Labor

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What does this salary really buy? See Financial Advisor salary in Michigan adjusted for cost of living →

Financial Advisor Salary by State

Compare Financial Advisor pay across states — sorted by highest median salary.

New York $167,970 Idaho $136,440 California $128,650 Delaware $128,170 New Jersey $123,690 South Dakota $123,380 Maryland $122,510 Wisconsin $115,680 Washington $112,020 Connecticut $107,030

View all 50 states →

Related Careers in Michigan

Explore similar occupations and their salaries in Michigan.

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Frequently Asked Questions

How much does a Financial Advisor make in Michigan?
The median annual salary for a Financial Advisor in Michigan is $98,830 as of 2024. The average (mean) salary is $144,370.
What is the starting salary for a Financial Advisor in Michigan?
Entry-level Financial Advisor positions in Michigan typically start around $45,980 (10th percentile). With some experience, salaries rise to $59,770 (25th percentile).
How many people work as Financial Advisor in Michigan?
According to 2024 BLS data, approximately 6,030 people are employed as Financial Advisor in Michigan.
What is the hourly rate for a Financial Advisor in Michigan?
Based on a standard 2,080-hour work year, the median hourly rate for a Financial Advisor in Michigan is approximately $47.51 per hour.

Data Source & Methodology

Salary data is sourced from the U.S. Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics (OEWS) survey, 2024 estimates. The OEWS survey covers approximately 1.1 million establishments nationwide.

Annual salaries are calculated based on a standard 2,080-hour work year. Actual compensation may vary based on experience, education, employer, and local market conditions. Figures do not include benefits, bonuses, or overtime pay.

Our Methodology · Data Sources · Source: BLS OEWS