How much does a Personal Financial Advisors actually take home in Minnesota?
Progressive (up to 9.8%) — 27.8% effective total tax rateData: BLS OEWS 2024 + IRS/State Tax Brackets 2024 • Updated 2026-04-02
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Detailed line-by-line tax calculation for a Personal Financial Advisors earning $98,920 in Minnesota (single filer, standard deduction).
| Tax Component | Annual Amount | Effective Rate |
|---|---|---|
| Gross Salary (Median) | $98,920 | — |
| Federal Income Tax | -$13,603 | 13.8% |
| Minnesota State Income Tax | -$6,292 | 6.4% |
| Social Security (OASDI) | -$6,133 | 6.2% |
| Medicare | -$1,434 | 1.4% |
| Total Taxes | -$27,463 | 27.8% |
| Take-Home Pay | $71,456 | 72.2% |
Take-home pay varies significantly across experience levels. Here is the after-tax breakdown for each salary percentile of Personal Financial Advisors in Minnesota.
| Percentile | Gross Salary | Total Taxes | Take-Home Pay | Tax Rate |
|---|---|---|---|---|
| 10th Percentile (P10) | $41,970 | -$8,681 | $33,288 | 20.7% |
| 25th Percentile (P25) | $64,840 | -$15,039 | $49,800 | 23.2% |
| Median (P50) | $98,920 | -$27,463 | $71,456 | 27.8% |
| 75th Percentile (P75) | $168,300 | -$54,544 | $113,755 | 32.4% |
After federal income tax ($13,603), state tax ($6,292), and FICA ($7,567), a Personal Financial Advisors in Minnesota takes home $71,456 per year — or $5,954 per month. The effective tax rate of 27.8% is moderate compared to the national range.
Where does a Personal Financial Advisors keep the most of their paycheck? Top 10 states ranked by after-tax take-home pay.
Minnesota ranks #24 out of 46 states for Personal Financial Advisors after-tax take-home pay.
A Personal Financial Advisors in Minnesota earning a median salary of $98,920 will take home approximately $71,456 per year after federal income tax ($13,603), state income tax ($6,292), and FICA ($7,567). That is $5,954 per month or $2,748 per bi-weekly paycheck.
The effective total tax rate for a Personal Financial Advisors in Minnesota is 27.8%, broken down as: federal income tax 13.8%, Minnesota state tax 6.4%, and FICA (Social Security + Medicare) 7.6%. This assumes a single filer with the standard deduction for 2024.
Minnesota has a progressive (up to 9.8%). On a Personal Financial Advisors's median salary of $98,920, the state income tax amounts to $6,292 per year, which is an effective state rate of 6.4%.
After all taxes, a Personal Financial Advisors in Minnesota takes home approximately $5,954 per month, or about $34.35 per hour (based on a standard 2,080-hour work year). These figures assume a single filer, standard deduction, and no additional pre-tax deductions.
We start with the 2024 BLS median salary of $98,920 for Personal Financial Advisors in Minnesota, then subtract: federal income tax using 2024 IRS brackets ($14,600 standard deduction), Minnesota state income tax (progressive (up to 9.8%)), Social Security (6.2% up to $168,600), and Medicare (1.45%). The result — $71,456/yr — does not include local taxes, pre-tax deductions (401k, HSA), or tax credits.
This estimate assumes a single filer using the 2024 standard deduction ($14,600), with W-2 employment income only. It does not account for: itemized deductions, tax credits (e.g. earned income credit, child tax credit), local/city taxes, pre-tax contributions (401k, HSA, FSA), self-employment tax, or additional income sources. Actual take-home pay may differ. Consult a tax professional for personalized advice.
Our Methodology · Data Sources · Salary: BLS OEWS · Tax: IRS + State DOR