How Much Do Wealth Management Advisors Make?
Having a clear understanding of earnings potential is important, especially if you are researching career paths or considering changing jobs. If you're one of those people, and you're curious what kind of salary wealth management advisors make, you've come to the right place.
Using data from Lightcast,™ the Best Adult Colleges and Careers Guide has compiled rich information about salary for wealth management advisors and related jobs, including details about average compensation, salary trends and job growth. We've also gathered advertised salaries from actual job postings to provide insight into what employers of wealth management advisors are offering as compensation.
Keep reading to learn more about how much wealth management advisors can expect to make in the United States.
At a Glance: Salary & Jobs for Wealth Management Advisors
According to data from 2022, there were about 290,834 positions for wealth management advisors in the United States. In terms of salary, the national median salary for wealth management advisors was reported to be $95,389. Additionally, when examining job demand, employers across the country posted 59,098 job postings related to positions for wealth management advisors.
How Much Money Do Wealth Management Advisors Make?
Median salary is just one data point. To build a better understanding of how much money wealth management advisors and related positions can expect to make in the United States, it can be helpful to look at the full range of compensation for those jobs.
Let's look more deeply at data that was reported to the U.S. Bureau of Labor Statistics (BLS) for detail into the lowest and highest salary earnings for wealth management advisors.
Annual Salary for Wealth Management Advisors
According to the BLS, the lowest earners for wealth management advisors and related professions earned about $46,696 per year in 2022. Meanwhile, at the other end of the spectrum, the highest earners made about $246,107 annually.
As mentioned previously, the median salary for wealth management advisors in the United States in 2022 was $95,389.
Annual Salary Range For Wealth Management Advisors In 2022
Hourly Salary for Wealth Management Advisors
The BLS also breaks down compensation for wealth management advisors by hourly salary, and the median average hourly pay for wealth management advisors in 2022 was $46. Lowest hourly earners took home $22 while the highest reported hourly salaries for wealth management advisors was $118.
Hourly Salary Range For Wealth Management Advisors In 2022
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Advertised Compensation for Wealth Management Advisors
Data from the BLS is one way to dig into compensation for wealth management advisors, but another way to build a more real-time understanding of salary is to look at actual job postings and see what compensation organizations are currently providing to fill open positions for wealth management advisors.
Keep in mind that salary data is not included in every job posting, so the information compiled here is reflective of the data available through Lightcast.™
Annual Salary from Job Postings for Wealth Management Advisors
Advertised Annual Salary
During a review of 89,729 job postings related to wealth management advisors, advertised salary was included in 15,260 of them, which was 17%. Based on those postings, the median advertised salary for wealth management advisors was $69,504 per year.
Hourly Salary from Job Postings for Wealth Management Advisors
Advertised Hourly Salary
A similar analysis of job postings provides insight into advertised hourly salary for wealth management advisors. Based on 26% of postings with advertised compensation, the median hourly salary for open positions for wealth management advisors in the United States is about $33.
Salary Trend for Wealth Management Advisors
If you're thinking about pursuing a career in the field, you may want to understand how compensation has changed over time for wealth management advisors. The chart below provides a snapshot of advertised salaries over the past three years.
Based on compensation data that was included in job postings for wealth management advisors dating back to September 2019, advertised salaries for wealth management advisors have decreased 12%.
Advertised Wage Trend For Wealth Management Advisors
What's the Job Growth for Wealth Management Advisors?
Another data point that someone thinking about a career path should consider is whether or not jobs are expected to see growth in the future. The chart below looks at projected employment for wealth management advisors over the next 10 years.
According to the data obtained through Lightcast,™ there were 291,026 jobs for wealth management advisors in the United States in 2022. By 2032, it is expected that about 64,941 jobs will be added. That's a 22.3% increase over the next 10-year period.
Employment Projections For Wealth Management Advisors
Additional Links
Ready to dig deeper into career information about wealth management advisors? Visit our other pages focused on salary and education for wealth management advisors.
What do wealth management advisors do?
Wealth Management Advisors: How do you become one?
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