Financial Advisor Salary in Michigan
The median financial advisor salary in Michigan is $85,851 per year, which is 10% below the national median of $95,390.
Financial Advisor Salary Overview in Michigan (2026)
Michigan ranks #36 out of 50 states for financial advisor compensation. Financial Advisor salaries in Michigan are below the national median, though the lower cost of living can offset the difference. At $85,851 per year, financial advisors in Michigan earn $9,539 less than the national median of $95,390.
A key advantage of working in Michigan is its below-average cost of living (90% of the national index). This means the $85,851 salary has the purchasing power of roughly $95,390 in an average-cost area.
The salary spread in Michigan is significant: financial advisors at the 10th percentile earn $39,960, while those at the 90th percentile bring home $215,100 — a $175,140 gap that reflects differences in experience, specialization, employer type, and metro area. The highest-paying city in Michigan for this role is Ann Arbor, where the median reaches $100,160.
Nationally, financial advisor employment is projected to grow 13% over the next decade (much faster than average). This strong growth suggests increasing demand and competitive salaries in Michigan and beyond.
Financial Advisor Salary in Michigan by Experience
In Michigan, an entry-level financial advisor earns around $43,200, while experienced professionals earn up to $162,000 per year. The cost of living index in Michigan is 90% of the national average.
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See Investment Options →Salary Percentiles in Michigan
| Percentile | MI Salary |
|---|---|
| 10th Percentile | $39,960 |
| 25th Percentile | $56,160 |
| Median (50th) | $85,851 |
| 75th Percentile | $134,100 |
| 90th Percentile | $215,100 |
Financial Advisor Salary by City in Michigan
The largest employment areas for financial advisors in Michigan include Detroit, Grand Rapids, Ann Arbor, and Warren. Salaries vary by city based on local cost of living and demand.
How to Become a Financial Advisor in Michigan
Education
Most financial advisor positions require a bachelor's degree. Michigan has several accredited institutions offering relevant programs.
Key Skills
Job Outlook in Michigan
Nationally, financial advisor employment is projected to grow 13% over the next decade (much faster than average). Michigan's demand may vary based on local industry trends.
Negotiate Your Way to Senior Pay
Data shows Financial Advisors who negotiate earn 7–15% more. A single negotiation could add $76,149 over your career trajectory.
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