Business & Finance Detroit, MI Pop. 639,111

Financial Advisor Salary in Detroit, Michigan

The median financial advisor salary in Detroit, MI is $83,943 per year, which is 12% below the national median and 2.2% below the Michigan state average.

City Median
$83,943
vs State Avg
$-1,908
vs National
$-11,447
Cost of Living
88%

Financial Advisor Pay in Detroit: What to Expect (2026)

Detroit offers a median financial advisor salary of $83,943, which is $1,908 below the Michigan state average of $85,851. Compared to the national median of $95,390, Detroit pays below the national benchmark for this role.

One of Detroit's biggest advantages is its low cost of living at 88% of the national average. This means the $83,943 salary stretches further here — equivalent to roughly $95,390 in an average-cost city. This makes Detroit an attractive option for financial advisors seeking strong real-dollar compensation.

The salary range for financial advisors in Detroit spans from $39,072 at the 10th percentile to $210,320 at the 90th percentile — a $171,248 spread. Entry-level professionals start around $42,240, while senior financial advisors with 8+ years of experience can earn up to $158,400. As a major metro area with a population of 639,111, Detroit typically offers more job opportunities and employer competition, which can drive salaries higher.

Financial Advisor Salary in Detroit by Experience

In Detroit, an entry-level financial advisor earns around $42,240, while experienced professionals earn up to $158,400 per year. The local cost of living index is 88% of the national average.

Entry Level (0-2 yrs)
$42,240
$-5,760 vs national
Mid Level (3-7 yrs)
$83,600
$-11,400 vs national
Senior Level (8+ yrs)
$158,400
$-21,600 vs national

Salary Percentiles in Detroit, MI

Percentile Detroit
10th Percentile $39,072
25th Percentile $54,912
Median (50th) $83,943
75th Percentile $131,120
90th Percentile $210,320

Financial Advisor Salary in Other Michigan Cities

Ann Arbor, MI
$100,160
Pop. 123,851
Grand Rapids, MI
$85,851
Pop. 198,917
Warren, MI
$83,943
Pop. 139,387
Lansing, MI
$82,035
Pop. 112,644

How to Become a Financial Advisor in Detroit

Education

Most financial advisor positions require a bachelor's degree. Detroit and the surrounding Michigan area have institutions offering relevant programs.

Key Skills

Investment PlanningPortfolio ManagementTax PlanningClient RelationsFinancial AnalysisCFA/CFP

Job Outlook

Nationally, financial advisor employment is projected to grow 13% over the next decade (much faster than average). Demand in Detroit may vary based on local industry and population growth.

Find Financial Advisor Jobs in Detroit

Browse open financial advisor positions in Detroit, MI:

Indeed → LinkedIn → ZipRecruiter → Glassdoor →

Frequently Asked Questions: Financial Advisor Salary in Detroit

How much does a Financial Advisor make in Detroit, MI? ▼
The median financial advisor salary in Detroit, Michigan is $83,943 per year, which is 12% below the national median of $95,390. Salaries range from $39,072 (10th percentile) to $210,320 (90th percentile).
How much does a Financial Advisor make per hour in Detroit? ▼
Based on the median annual salary of $83,943, a financial advisor in Detroit earns approximately $40 per hour assuming a standard 2,080-hour work year.
How does Detroit compare to the Michigan state average for financial advisor pay? ▼
Detroit's median financial advisor salary of $83,943 is 2.2% below the Michigan state average of $85,851. The local cost of living index is 88% of the national average.
What is the cost of living in Detroit, MI? ▼
Detroit has a cost of living index of 88% compared to the national average. This means a financial advisor salary of $83,943 in Detroit has more purchasing power than the same salary in an average-cost city.
What qualifications do I need to become a financial advisor in Detroit? ▼
Most financial advisor positions in Detroit require a bachelor's degree. Key skills include Investment Planning, Portfolio Management, Tax Planning, Client Relations. The job market is projected to grow 13% nationally over the next decade.