Financial Advisor Salary in Parma, OH
How much does a financial advisor make in Parma? Explore median, entry-level, and senior salaries adjusted for Parma's cost of living.
Salary Breakdown by Experience Level
See how financial advisor salaries break down across different pay periods in Parma.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $28,383 | $49,026 | $69,668 |
| Monthly | $2,365 | $4,086 | $5,806 |
| Biweekly | $1,092 | $1,886 | $2,680 |
| Weekly | $546 | $943 | $1,340 |
| Hourly | $14 | $24 | $33 |
Parma vs National Average
How Parma's financial advisor salaries compare to national figures.
Cost of Living in Parma
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 Tools to Explore
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Financial Advisor Salary in Parma, OH — Complete Guide
Median Salary Overview
The median salary for a financial advisor in Parma, OH is $49,026 per year, adjusted for the local cost of living index of 86. This figure reflects typical earnings for experienced professionals in this role, considering Parma's unique economic conditions.
Salary Range and Experience Levels
Entry-level financial advisor professionals in Parma can expect to earn around $28,383 annually. As professionals gain experience, salaries typically increase, with senior-level financial advisors earning approximately $69,668 per year. This represents a 145% increase from entry to senior level.
Cost of Living Adjustment
Parma's cost of living index of 86 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Parma 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 Parma typically goes toward housing. With a 1-bedroom apartment averaging $900 per month, housing represents about 22.0% 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 Parma, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.