Financial Advisor Salary in Dearborn, MI
How much does a financial advisor make in Dearborn? Explore median, entry-level, and senior salaries adjusted for Dearborn's cost of living.
Salary Breakdown by Experience Level
See how financial advisor salaries break down across different pay periods in Dearborn.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $57,663 | $99,600 | $141,537 |
| Monthly | $4,805 | $8,300 | $11,795 |
| Biweekly | $2,218 | $3,831 | $5,444 |
| Weekly | $1,109 | $1,915 | $2,722 |
| Hourly | $28 | $48 | $68 |
Dearborn vs National Average
How Dearborn's financial advisor salaries compare to national figures.
Cost of Living in Dearborn
About Financial Advisor
Overview
Advise clients on investments, retirement planning, and financial goals.
Education
Bachelor's degree in Finance or related field; CFP certification recommended
Key Skills
Growth Rate
Expected job growth: +21% over the next decade
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Financial Advisor Salary in Dearborn, MI — Complete Guide
Median Salary Overview
The median salary for a financial advisor in Dearborn, MI is $99,600 per year, adjusted for the local cost of living index of 92. This figure reflects typical earnings for experienced professionals in this role, considering Dearborn's unique economic conditions.
Salary Range and Experience Levels
Entry-level financial advisor professionals in Dearborn can expect to earn around $57,663 annually. As professionals gain experience, salaries typically increase, with senior-level financial advisors earning approximately $141,537 per year. This represents a 145% increase from entry to senior level.
Cost of Living Adjustment
Dearborn's cost of living index of 92 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Dearborn are adjusted accordingly. This means that while the nominal salary may appear higher or lower than the national average of $64,780, the actual purchasing power must be considered in context.
Housing and Affordability
A significant portion of a financial advisor's salary in Dearborn typically goes toward housing. With a 1-bedroom apartment averaging $1,000 per month, housing represents about 12.0% of median salary. Financial experts generally recommend keeping housing expenses below 30% of gross income.
Career Growth and Opportunities
Financial Advisors are in growing demand across the United States, with an expected job growth of 21% over the next decade. In Dearborn, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.