Financial Advisor Salary in Springfield, IL
How much does a financial advisor make in Springfield? Explore median, entry-level, and senior salaries adjusted for Springfield's cost of living.
Salary Breakdown by Experience Level
See how financial advisor salaries break down across different pay periods in Springfield.
| Period | Entry Level | Median | Senior |
|---|---|---|---|
| Annual | $37,804 | $65,298 | $92,792 |
| Monthly | $3,150 | $5,442 | $7,733 |
| Biweekly | $1,454 | $2,511 | $3,569 |
| Weekly | $727 | $1,256 | $1,784 |
| Hourly | $18 | $31 | $45 |
Springfield vs National Average
How Springfield's financial advisor salaries compare to national figures.
Cost of Living in Springfield
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 Springfield, IL — Complete Guide
Median Salary Overview
The median salary for a financial advisor in Springfield, IL is $65,298 per year, adjusted for the local cost of living index of 96. This figure reflects typical earnings for experienced professionals in this role, considering Springfield's unique economic conditions.
Salary Range and Experience Levels
Entry-level financial advisor professionals in Springfield can expect to earn around $37,804 annually. As professionals gain experience, salaries typically increase, with senior-level financial advisors earning approximately $92,792 per year. This represents a 145% increase from entry to senior level.
Cost of Living Adjustment
Springfield's cost of living index of 96 significantly impacts salary comparisons. As a lower cost-of-living city, salaries in Springfield 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 Springfield typically goes toward housing. With a 1-bedroom apartment averaging $1,250 per month, housing represents about 23.0% 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 Springfield, this translates to increasing opportunities and potential for salary growth as demand for experienced professionals continues to rise.