Entry-Level Financial Advisor Salary (2026): What New Grad Advisors Actually Make

The average entry-level financial advisor salary is $59,532 per year ($28.62/hour) in 2026, based on the 10th percentile of BLS wage data. New financial advisor starting pay ranges from $25,443 to $103,632 in Jersey City, NJ — driven by wirehouse vs RIA vs bank channel vs Edward Jones, salary-vs-commission ramp structure, CFP / Series 7 / Series 66 licensing, and book-of-business equity.

$59,532

Avg Starting Salary

$28.62

Starting Hourly

$108,537

Median Target

1679+

Cities Tracked

2019 BLS

$42,950

2025 BLS

$50,190

2026 Current Est.

$51,846

2019–2027 Growth

+24.7%

National Entry-Level Financial Advisor Salary Trend (10th Percentile)

2019–2025: BLS OEWS actual data. 2026+: CAGR 3.30% projection.

BLS Actual Estimated Projected

Year	Entry-Level Salary (P10)	Status
2019	$42,950	Actual
2020	$44,100	Actual
2021	$47,570	Actual
2022	$46,700	Actual
2023	$48,730	Actual
2024	$49,990	Actual
2025	$50,190	Actual
2026(current)	$51,846	Estimated
2027	$53,557	Projected

Entry-level financial advisor salaries (10th percentile) have shown consistent growth over 7 years of BLS data. The 10th percentile represents typical starting pay for new graduates and early-career professionals. At the current 3.30% CAGR, starting salaries are projected to continue rising through 2027.

Note: BLS actual data is sourced from the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey. Estimated and projected values are calculated using a 3.30% historical CAGR. Actual compensation may vary based on employer, experience, certifications, and local market conditions.

Starting Financial Advisor Salary by State

Entry-level financial advisor pay varies dramatically by state. The top-paying states offer starting salaries well above $59,532, while others fall below the national average. Here are all 52 states ranked by average starting salary for financial advisors.

#	State	Avg Starting Pay	Median Target	Growth Potential	Cities
1	New York	$81,762	$168,671	+$86,909	39
2	New Jersey	$80,576	$132,070	+$51,494	61
3	California	$71,673	$135,266	+$63,593	157
4	Massachusetts	$69,541	$130,875	+$61,334	58
5	South Dakota	$68,584	$119,156	+$50,572	11
6	Connecticut	$65,829	$136,421	+$70,592	29
7	New Mexico	$64,347	$104,773	+$40,426	17
8	Alaska	$63,988	$103,236	+$39,248	5
9	Nevada	$63,586	$103,233	+$39,647	9
10	Wisconsin	$62,904	$126,154	+$63,250	46
11	Delaware	$61,883	$107,402	+$45,519	6
12	Pennsylvania	$61,825	$118,312	+$56,487	24
13	District of Columbia	$60,730	$109,736	+$49,006	1
14	Vermont	$60,434	$131,024	+$70,590	9
15	Washington	$60,376	$114,188	+$53,812	50
16	North Dakota	$60,010	$80,154	+$20,144	8
17	New Hampshire	$59,897	$89,151	+$29,254	16
18	Oregon	$59,343	$110,553	+$51,210	36
19	Colorado	$59,020	$98,932	+$39,912	33
20	Maine	$58,466	$101,258	+$42,792	10
21	Missouri	$57,595	$114,324	+$56,729	33
22	Virginia	$56,014	$106,842	+$50,828	42
23	Kansas	$55,416	$91,833	+$36,417	22
24	Nebraska	$55,357	$82,607	+$27,250	13
25	Hawaii	$55,120	$88,022	+$32,902	10
26	Wyoming	$54,785	$80,307	+$25,522	14
27	Iowa	$54,469	$99,279	+$44,810	26
28	Illinois	$54,088	$117,276	+$63,188	64
29	Idaho	$53,971	$99,634	+$45,663	16
30	Montana	$53,510	$100,910	+$47,400	7
31	Rhode Island	$52,440	$88,142	+$35,702	17
32	Florida	$52,336	$109,356	+$57,020	87
33	North Carolina	$51,340	$100,547	+$49,207	44
34	Maryland	$50,973	$103,007	+$52,034	27
35	Texas	$50,400	$97,264	+$46,864	109
36	Ohio	$49,352	$86,012	+$36,660	67
37	South Carolina	$49,128	$100,497	+$51,369	26
38	Minnesota	$49,068	$103,311	+$54,243	44
39	Arizona	$48,391	$96,070	+$47,679	33
40	Georgia	$48,305	$107,351	+$59,046	40
41	Utah	$47,835	$79,084	+$31,249	41
42	Michigan	$47,222	$85,787	+$38,565	54
43	Mississippi	$46,873	$82,396	+$35,523	20
44	Tennessee	$46,737	$90,948	+$44,211	30
45	Indiana	$46,260	$95,425	+$49,165	43
46	West Virginia	$46,258	$90,207	+$43,949	11
47	Kentucky	$45,162	$75,883	+$30,721	21
48	Louisiana	$43,084	$73,580	+$30,496	20
49	Alabama	$42,244	$82,688	+$40,444	24
50	Oklahoma	$41,013	$77,266	+$36,253	27
51	Arkansas	$39,614	$85,062	+$45,448	21
52	Puerto Rico	$31,858	$51,082	+$19,224	1

Beginner Financial Advisor Pay: Top 20 Cities

These 20 metro areas offer the highest starting salaries for new financial advisors. Each figure represents the 10th percentile of local BLS wage data — the typical pay range for professionals with little to no experience.

#	City	Starting Salary	Median Target	vs National
1	Jersey City, NJ	$103,632	$178,676	+74.08%
2	Newark, NJ	$102,035	$175,922	+71.39%
3	Oakland, CA	$98,418	$169,686	+65.32%
4	Norton Shores, MI	$98,191	$169,295	+64.94%
5	Fremont, CA	$96,247	$165,943	+61.67%
6	Trenton, NJ	$86,090	$133,391	+44.61%
7	Northampton, MA	$85,837	$147,996	+44.19%
8	New York, NY	$84,210	$175,662	+41.45%
9	Sunnyvale, CA	$83,899	$144,654	+40.93%
10	Rapid City, SD	$83,869	$107,184	+40.88%
11	Santa Clara, CA	$83,349	$143,704	+40.01%
12	Ithaca, NY	$82,950	$135,261	+39.34%
13	Santa Fe, NM	$81,101	$143,370	+36.23%
14	Stamford, CT	$80,256	$138,371	+34.81%
15	Honolulu, HI	$79,913	$137,782	+34.23%
16	Danbury, CT	$79,643	$137,317	+33.78%
17	San Francisco, CA	$79,438	$165,910	+33.44%
18	Princeton, NJ	$78,905	$136,043	+32.54%
19	Pittsfield, MA	$78,694	$130,055	+32.19%
20	South Burlington, VT	$78,248	$134,910	+31.44%

Financial Advisor Salary With No Experience: New Grad Reality

The 10th percentile of BLS wage data is the standard proxy for entry-level financial advisor pay — it represents what the lowest-paid 10% of advisors in a given metro area earn, predominantly new advisors in their salary-guarantee + production ramp period. Nationally, that sits at $59,532 ($28.62/hour) for 2026. New financial advisor compensation varies wildly — wirehouse training program vs RIA paraplanner vs bank channel vs Edward Jones vs Northwestern Mutual career agent vs independent producer structures pay very differently.

What New Grad Financial Advisors Actually Earn (Year 1)

Wirehouse training program (Merrill Lynch, Morgan Stanley, UBS, Wells Fargo Advisors) — $60,000–$80,000 base salary guarantee year 1–2 + commission ramp + production bonus. Book-of-business build during ramp.
Edward Jones new financial advisor — $55,000–$70,000 salary year 1 + commission ramp + new-asset bonus. Structured 4–5 year ramp to full producer.
Bank channel new advisor (JPM Wealth, BoA Merrill Edge, Wells Fargo, Chase Private Client) — $50,000–$75,000 base + bonus. Warm-lead pipeline from bank.
RIA paraplanner / associate advisor new grad — $55,000–$80,000 base + bonus. Fee-only fiduciary path. Strong CFP support.
Mega-RIA new advisor (Creative Planning, Fisher Investments, Edelman, Mariner) — $65,000–$85,000 base + bonus.
Wealth management trainee (Goldman, JPM Private Bank, Morgan Stanley Private Wealth, BlackRock) — premium HNW track. $90,000–$130,000 base + signing + bonus.
Northwestern Mutual / NY Life / MassMutual career agent — commission-only or low base + high commission. Wide variance year 1 ($25,000–$120,000).
Independent broker-dealer producer (LPL, Raymond James, Ameriprise, Cetera) — split commission structure. Lower base, higher commission %.
Fee-only fiduciary RIA — pure CFP fiduciary path. $55,000–$75,000 base + bonus.
Federal Thrift Savings Plan / federal financial counselor — pension + PSLF.

Series 7 + Series 66 + CFP Licensing

Series 7 (General Securities Representative) — FINRA. Required for full broker-dealer activity. 125 questions, 225 minutes.
Series 66 (Uniform Combined State Law) — required for IAR (investment advisor representative) registration in most states.
Series 65 (alternative to 66, for fee-only RIA paths) — RIA representative registration.
Series 63 (state securities, narrower than 66) — pair with Series 7.
Series 6 (limited investment company, alternative to Series 7) — narrower scope.
SIE (Securities Industry Essentials) — first step. Can take pre-employment.
CFP (Certified Financial Planner) — gold-standard credential. 6,000 hours experience + 3-year capstone + exam.
ChFC (Chartered Financial Consultant) — alternative to CFP.
CFA (Chartered Financial Analyst) — investment management gold-standard. 3 exams + work experience.
CPWA / CIMA (advanced wealth management credentials) — HNW/UHNW specialty.
Life & Health insurance license — required for variable life / annuity sales.

Setting Selection: Wirehouse / RIA / Bank / Career Agent / Independent

Wirehouse training program (Merrill, Morgan Stanley, UBS, Wells Fargo) — base + ramp + book-of-business equity.
Edward Jones (most structured rural / suburban path) — 4–5 year ramp.
Bank channel (JPM, BoA, Wells, Chase Private Client) — warm leads + base.
RIA paraplanner / associate (fee-only fiduciary) — pure CFP fiduciary path.
Mega-RIA (Creative Planning, Fisher, Edelman, Mariner) — scaled fee-only.
Wealth management HNW (Goldman, JPM Private Bank, MS Private Wealth) — premium HNW track.
Career agent (NW Mutual, NY Life, MassMutual) — commission-heavy life-insurance-anchored model.
Independent broker-dealer (LPL, Raymond James, Ameriprise, Cetera) — flexibility but lower base.
Federal (TSP, federal financial counselor) — pension + PSLF.
Robo-advisor / hybrid (Betterment, Wealthfront, Personal Capital) — newer model. Stable base.

Year-by-Year Progression to Advisor National Median

Year 0–1 (P10 baseline, salary + ramp) — $59,532 national average.
Year 1–2 (salary tapering, production ramp) — book-of-business building. Variance widens.
Year 2–4 (CFP + production) — most pass CFP. Production-based comp dominates.
Year 4–7 (approaching national median) — most successful advisors at top channels exceed median by year 5.
Year 7+ (book equity) — owned book = $200,000–$500,000+ recurring. Top wirehouse advisors $500,000–$1M+ trailing 12.
Year 12+ (Senior Advisor / Partner / Independent) — partner equity at top RIAs = $500,000–$2M+ total.

2026 New Financial Advisor Salary Outlook

Entry-level financial advisor pay has grown at a compound annual rate of 3.30% nationally over the past five years — driven by retiring advisor succession wave (average advisor age 55+), boomer wealth-transfer to inherited Gen X / millennial clients ($84 trillion projected transfer), fee-only RIA channel expansion, mega-RIA consolidation, and CFP candidate growth. The BLS projects personal financial advisor employment growth at 13% through 2033.

Entry-Level to Mid-Career: Financial Advisor Salary Growth

Financial Advisor salaries follow a predictable growth curve. Here's how pay typically progresses from entry-level to experienced:

Entry (P10)

$59,532

Year 0-1

Early Career (P25)

$78,289

Year 1-3

Mid-Career (P50)

$108,537

Year 3-7

Experienced (P75-P90)

$192,225–$342,945

Year 7+

$59,532$78,289$108,537$342,945

How to Maximize Your Starting Financial Advisor Salary

New financial advisors who strategically position channel choice (wirehouse vs RIA vs bank), stack Series 7 + 66 + CFP, and negotiate salary guarantee + book-of-business structure consistently land starting compensation 30–60% above the national average. Here's how to maximize your first financial advisor total comp:

1. Target Wealth Management HNW or Wirehouse Tier

Wealth management HNW trainee (Goldman, JPM Private Bank, MS Private Wealth, BlackRock) — $90,000–$130,000 + signing.
Wirehouse training program (Merrill, MS, UBS, Wells Fargo Advisors) — base + ramp + book equity.
Mega-RIA (Creative Planning, Fisher, Edelman, Mariner) — fee-only scaled.
Bank channel (JPM, BoA, Wells, Chase Private Client) — warm-lead pipeline.
Edward Jones (structured ramp + book equity) — strongest single-channel path.
Highest-paying new advisor metro — Jersey City, NJ at $103,632.

2. Stack Series 7 + 66 + SIE Pre-Hire

SIE (Securities Industry Essentials) — take pre-hire if possible.
Series 7 (General Securities Representative) — required for full broker-dealer.
Series 66 (Uniform Combined State Law) — required for IAR registration.
Series 65 (alternative for fee-only RIA) — RIA representative path.
Life & Health insurance license — required for VA / VUL / annuity sales.
State-specific securities license (NY, CA, TX) — verify additional state-specific licensure.
Compliance: pass background + fingerprint — required at all FINRA-registered employers.

3. Negotiate Salary Guarantee + Book-of-Business Structure

Wirehouse salary guarantee — Merrill / MS / UBS / Wells typically guarantee $60,000–$80,000 base year 1–2.
Edward Jones salary guarantee — $55,000–$70,000 base year 1 + new-asset bonus.
Bank channel base + bonus — $50,000–$75,000 base + warm-lead pipeline.
RIA associate advisor base + bonus — $55,000–$80,000 base + fee-only fiduciary path.
HNW wealth management trainee — $90,000–$130,000 + signing.
Sign-on bonus — typically $5,000–$25,000 at top channels.
Book-of-business inheritance / succession — established advisors seeking succession often hand book to junior advisors. Premier wealth-transfer opportunity.
Performance bonus / new-asset bonus — confirm structure + payout history.

4. Plan CFP / CFA / CPWA Credentials

CFP (Certified Financial Planner) — gold-standard for fee-only / fiduciary advisors. 6,000 hours experience + 3-year capstone + exam.
CFA (Chartered Financial Analyst) — investment management gold-standard. 3 exams + experience.
ChFC (Chartered Financial Consultant) — alternative to CFP.
CPWA / CIMA (HNW / UHNW specialty) — premium wealth management.
Series 7 + 66 first — required for any IAR/broker activity.
RICP (Retirement Income Certified Professional) — premium retirement income specialty.
AAMS / CRPC (designations for new advisors) — entry to mid-career signal.
JD-tax / Master of Taxation — premium estate / tax planning path.

5. Plan Book Building / Partnership / Independent Path

Wirehouse to RIA breakaway path — established wirehouse advisors regularly break to fee-only RIA. Premium AUM + equity.
Independent broker-dealer (LPL, Raymond James, Ameriprise, Cetera) — higher commission split + flexibility.
Mega-RIA partner equity track — Creative Planning, Fisher, Edelman, Mariner.
HNW / UHNW specialization — premium AUM tier ($25M+ households).
Retirement / 401(k) plan advisor specialty — premium retirement plan consulting.
Estate planning / family office track (JD/LLM) — premium HNW specialty.
Robo-advisor / hybrid model — Betterment, Wealthfront. Emerging path.
Independent CFP fiduciary firm — $200–$500/hour fee-only planning model after 5–7 years.

More Salary Resources

National OverviewComplete salary data for 1679+ cities Hourly Pay RatesPer-hour rates, part-time calculations Salary by StateAll 52 states compared Highest Paying StatesTop states ranked by salary

Frequently Asked Questions

What is the entry level financial advisor salary?

The average entry level financial advisor salary is $59,532 per year (approximately $28.62/hour) in 2026. This figure represents the 10th percentile of BLS wage data, which closely approximates what new graduates and first-year financial advisors earn.

How much do new financial advisors make with no experience?

New financial advisors with no experience typically start around $59,532 per year nationally. However, starting pay varies significantly by location — from $25,443 in lower-paying areas to $103,632 in top-paying metro areas like Jersey City, NJ.

What state pays entry-level financial advisors the most?

New York pays entry-level financial advisors the most, with an average starting salary of $81,762 per year across 39 metro areas.

How long does it take to reach the median financial advisor salary?

Most financial advisors reach the national median salary of $108,537 within 3 to 5 years of clinical practice. Those who pursue specialized certifications (local anesthesia, laser therapy) or work in high-demand settings can reach median pay sooner.

Is financial planning school worth the investment?

Yes. With an average starting salary of $59,532 and program costs typically ranging from $18,000 to $45,000, most financial planning graduates recoup their education investment within 1-3 years. The median salary of $108,537 and strong job growth (9% projected through 2033, faster than average) make it one of the best returns on investment in healthcare education.

Written by Jordan Lee, CFP

Career Analyst

Jordan has over 10 years of experience in financial planning. They specialize in retirement planning for individuals. They work at a financial services firm in New York City.

Clinically reviewed by Sophia Martinez, CFAData verified by Ethan Wang, ChFC

Data Sources & Methodology

Source: BLS, OEWS 2025, released May 2026.

Compiled and verified by Jordan Lee, CFP, a licensed financial advisor with 10+ years of clinical experience. · View source data at BLS.gov

Methodology & Data Source

Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. We applied a 3.30% compound annual growth rate (CAGR), derived from 6-year national BLS trends, to estimate current 2026 compensation.