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 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.
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 |
Major Cities for Financial Advisors in Michigan
The largest employment areas for financial advisors in Michigan include Detroit, Grand Rapids, Ann Arbor, and Warren. Salaries in major metro areas may be higher due to increased demand and cost of living.
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.