Financial Advisor Salary in Edina, MN
How much does a financial advisor make in Edina? Explore median, entry-level, and senior salaries adjusted for Edina's cost of living.
Salary Breakdown by Experience Level
See how financial advisor salaries break down across different pay periods in Edina.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $45,140 | $77,969 | $110,799 |
| Monthly | $3,762 | $6,497 | $9,233 |
| Biweekly | $1,736 | $2,999 | $4,262 |
| Weekly | $868 | $1,499 | $2,131 |
| Hourly | $22 | $37 | $53 |
Edina vs National Average
How Edina's financial advisor salaries compare to national figures.
Cost of Living in Edina
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 Edina, MN — Complete Guide
Median Salary Overview
The median salary for a financial advisor in Edina, MN is $77,969 per year, adjusted for the local cost of living index of 118. This figure reflects typical earnings for experienced professionals in this role, considering Edina's unique economic conditions.
Salary Range and Experience Levels
Entry-level financial advisor professionals in Edina can expect to earn around $45,140 annually. As professionals gain experience, salaries typically increase, with senior-level financial advisors earning approximately $110,799 per year. This represents a 145% increase from entry to senior level.
Cost of Living Adjustment
Edina's cost of living index of 118 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Edina 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 Edina typically goes toward housing. With a 1-bedroom apartment averaging $1,400 per month, housing represents about 21.5% 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 Edina, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.