Financial Advisor Salary in Spearfish, SD
How much does a financial advisor make in Spearfish? Explore median, entry-level, and senior salaries adjusted for Spearfish's cost of living.
Salary Breakdown by Experience Level
See how financial advisor salaries break down across different pay periods in Spearfish.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $27,063 | $46,745 | $66,428 |
| Monthly | $2,255 | $3,895 | $5,536 |
| Biweekly | $1,041 | $1,798 | $2,555 |
| Weekly | $520 | $899 | $1,277 |
| Hourly | $13 | $22 | $32 |
Spearfish vs National Average
How Spearfish's financial advisor salaries compare to national figures.
Cost of Living in Spearfish
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 Spearfish, SD — Complete Guide
Median Salary Overview
The median salary for a financial advisor in Spearfish, SD is $46,745 per year, adjusted for the local cost of living index of 88. This figure reflects typical earnings for experienced professionals in this role, considering Spearfish's unique economic conditions.
Salary Range and Experience Levels
Entry-level financial advisor professionals in Spearfish can expect to earn around $27,063 annually. As professionals gain experience, salaries typically increase, with senior-level financial advisors earning approximately $66,428 per year. This represents a 145% increase from entry to senior level.
Cost of Living Adjustment
Spearfish's cost of living index of 88 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Spearfish 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 Spearfish typically goes toward housing. With a 1-bedroom apartment averaging $820 per month, housing represents about 21.1% 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 Spearfish, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.