Financial Advisor Salary in Sioux Falls, SD
How much does a financial advisor make in Sioux Falls? Explore median, entry-level, and senior salaries adjusted for Sioux Falls's cost of living.
Salary Breakdown by Experience Level
See how financial advisor salaries break down across different pay periods in Sioux Falls.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $45,227 | $78,120 | $111,013 |
| Monthly | $3,769 | $6,510 | $9,251 |
| Biweekly | $1,740 | $3,005 | $4,270 |
| Weekly | $870 | $1,502 | $2,135 |
| Hourly | $22 | $38 | $53 |
Sioux Falls vs National Average
How Sioux Falls's financial advisor salaries compare to national figures.
Cost of Living in Sioux Falls
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 Sioux Falls, SD — Complete Guide
Median Salary Overview
The median salary for a financial advisor in Sioux Falls, SD is $78,120 per year, adjusted for the local cost of living index of 103. This figure reflects typical earnings for experienced professionals in this role, considering Sioux Falls's unique economic conditions.
Salary Range and Experience Levels
Entry-level financial advisor professionals in Sioux Falls can expect to earn around $45,227 annually. As professionals gain experience, salaries typically increase, with senior-level financial advisors earning approximately $111,013 per year. This represents a 145% increase from entry to senior level.
Cost of Living Adjustment
Sioux Falls's cost of living index of 103 significantly impacts salary comparisons. As a higher cost-of-living city, salaries in Sioux Falls 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 Sioux Falls typically goes toward housing. With a 1-bedroom apartment averaging $1,350 per month, housing represents about 20.7% 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 Sioux Falls, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.