Personal financial advisors

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Total Workforce
352k
Average Age
44.9
Average Salary
$148,129
Average Male Salary
$167,624
Average Female Salary
$100,818

Employment

Information on the businesses and industries that employ Personal financial advisors and on wages and locations for those in the field. Securities, commodities, funds, trusts & other financial investments is the industry that employs the most Personal financial advisors, both by share and by number, though the highest paid industry for Personal financial advisors, by average wage, is Advertising, public relations & related services. Personal financial advisors are paid most in District of Columbia (West) PUMA, DC but are relatively concentrated in Upper East Side PUMA, NY.

Wages

Yearly Wage

$148,129
AVERAGE SALARY
± $6,217

In 2018, Personal financial advisors earned an average of $148,129, $94,241 more than than the average national salary of $53,888.

Actuaries make somewhat more than Personal financial advisors while Nuclear medicine technologists and medical dosimetrists make somewhat less. This chart shows the various occupations closest to Personal financial advisors as measured by average annual salary in the US.

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Wage Distribution

0.456
WAGE GINI

In 2018, Personal financial advisors had a wage GINI coefficient of 0.456, which is lower than than the national average of 0.479. In other words, wages are distributed more evenly for Personal financial advisors (shown in red) than for the overall labor force (shown in gray).

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Wage by Location

This map shows the Public Use Microdata Areas (PUMAs) in the United States shaded by average annual wage for Personal financial advisors.

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Spatial Concentration

This map displays which Public Use Microdata Areas (PUMAs) in the United States have a relatively high population of Personal financial advisors.

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Industries

Most Common

The most common industries employing Personal financial advisors, by number of employees, are Securities, commodities, funds, trusts & other financial investments, Banking & related activities, and Nondepository credit & related activities.

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Industries by Share

352k
2018 Workforce
± 14,556
-0.679%
1 YEAR GROWTH
± 5.87%

The number of people employed as Personal financial advisors has been declining at a rate of -0.679%, from 354,760 people in 2017 to 352,351 people in 2018.

This graphic shows the share of Personal financial advisors employed by various industries. Securities, commodities, funds, trusts & other financial investments employs the largest share of Personal financial advisors at  57%, followed by Banking & related activities with 10.9% and Nondepository credit & related activities with 7.52%.

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Diversity

Demographic information on Personal financial advisors in the US. The average age of male Personal financial advisors in the workforce is 45.6 and of female Personal financial advisors is 43.4, and the most common race/ethnicity for Personal financial advisors is White (Non-Hispanic).

Gender Composition

250k
MALE WORKFORCE
± 12,254
103k
FEMALE WORKFORCE
± 7,870

70.8% of Personal financial advisors are Male, making them the more common gender in the occupation. This chart shows the gender breakdown of Personal financial advisors.

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Race & Ethnicity

Most Common Race or Ethnicity of Personal financial advisors
  1. White (Non-Hispanic)
  2. Asian (Non-Hispanic)
  3. White (Hispanic)

79.1% of Personal financial advisors are White (Non-Hispanic), making that the most common race or ethnicity in the occupation. Representing 6.06% of Personal financial advisors, Asian (Non-Hispanic) is the second most common race or ethnicity in this occupation. This chart shows the racial and ethnic breakdown of Personal financial advisors.

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Age by Gender

45.6
AVERAGE MALE AGE
± 0.677
43.4
AVERAGE FEMALE AGE
± 1.01

The median age of Personal financial advisors is 44.9, and Male employees are generally 2.19 years older than than their Female counterparts.

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Education

Data on higher education choices for Personal financial advisors from The Department of Education and Census Bureau. The most common major for Personal financial advisors is Business but a relatively high number of Personal financial advisors hold a major in Business.

Majors

ACS PUMS data only shows the major for bachelor's degree-majorss. However, we can filter the data based on highest degree-majors obtained.
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Skills

Data on the critical and distinctive skills necessary for Personal financial advisors from the Bureau of Labor Statistics. Personal financial advisors need many skills, but most especially Reading Comprehension, Speaking, and Active Listening. The revealed comparative advantage (RCA) shows that Personal financial advisors need more than the average amount of Management of Financial Resources, Operations Analysis, and Mathematics.

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