Entry-Level Financial Advisor Salary in Cleveland, OH: $49,253 (2026)
Quick Answer:New financial advisors entering the Cleveland, OH job market in 2026 can expect a starting salary around $49,253 (BLS 10th-percentile benchmark for SOC 13-2052, projected from 2025 OEWS data). Stripping out Cleveland's local price level (BEA RPP 93.9 — 6% below national), a first-year paycheck buys what $52,440 would in average-cost America. Most reach the city median ($83,807) within a few years of clinical practice.
Official BLS data · View source
In 2026, new graduates stepping into the financial advisor role in Cleveland, OH can expect an entry-level salary starting at around $49,253. This figure represents a considerable gap when compared to the city’s median salary of $83,807, highlighting the potential earnings growth as one accumulates experience. Over the first three to five years, entry-level compensation can realistically increase from the initial $49,253 to approximately $62,724 at the 25th percentile, and then approach the median as advisors establish a client base and gain industry experience. The current market in Cleveland is favorable for new graduates, as the projected growth rate for this profession is set at 3.30% annually, allowing room for upward mobility in both skills and salary.
Career Earnings Timeline in Cleveland
New Graduate
Early Career
Mid Career
Experienced
Salary progression estimated from BLS percentile data. Actual progression varies by employer, certifications, and specialization.
2026 Salary Percentile Distribution in Cleveland
Entry-level financial advisors in Cleveland, OH typically start between $49,253 and $62,724 per year (2026 est.). The full salary range spans $181,891 from the 10th to 90th percentile, with the local median at $83,807 — 22.78% below the national median.
Return on Investment
The average financial planning program cost in Ohio of $48,000 represents just 97.46% of the starting financial advisor pay ($49,253/year) in Cleveland. Most graduates begin earning back their investment from day one, though actual ROI varies based on living expenses, loan interest, and the 2-year opportunity cost of schooling.
Program cost estimates cover bachelor's degree tuition plus licensing exam fees (Series 7, 63/66) and optional CFP certification program costs. Continuing education is required for license maintenance.
CFP, FA Salary Negotiation Tips for New Graduates in Cleveland
- 1Research the Cleveland market: entry-level financial advisor pay ranges from $49,253 to $62,724, so aim for at least the 25th percentile if you have strong credentials.
- 2Highlight any additional certifications or specialty training within the financial planning field — employers in OH often pay a premium for expanded scope of work.
- 3Evaluate the full compensation package — in Cleveland, benefits like health insurance, continuing-education allowances, and schedule flexibility can add 20-30% to your effective compensation.
- 4Consider starting with a larger hospital system or multi-site employer in Cleveland for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Cleveland's below-average cost of living means your starting salary goes further here compared to many larger metro areas.
Financial Advisor Compensation Range
The financial advisor wage spread in Cleveland is $181,891 ( 369.30%) between entry-level and top earners. Starting at $49,253, experienced hygienists can earn up to $231,144.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$38,790
2025 BLS Actual
$47,680
2026 Current Est.
$49,253
2019–2027 Growth
+31.2%
Salary Trajectory for Financial Advisors in Cleveland (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $38,790 | Actual |
| 2020 | $39,150 | Actual |
| 2021 | $48,760 | Actual |
| 2022 | $47,520 | Actual |
| 2023 | $48,250 | Actual |
| 2024 | $47,730 | Actual |
| 2025 | $47,680 | Actual |
| 2026(current) | $49,253 | Estimated |
| 2027 | $50,879 | Projected |
Entry-level financial advisor compensation (10th percentile) in Cleveland, OH grew 22.9% over 7 years based on actual BLS metropolitan area surveys, rising from $38,790 in 2019 to $47,680 in 2025. By 2027, starting salaries are projected to reach $50,879. New graduates entering the Cleveland job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Cleveland metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.30% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Starting Your financial planning Career in Cleveland
Several firms in Cleveland actively recruit new financial advisors, making it essential for graduates to align themselves with the right employers. Companies like Northwestern Mutual, Edward Jones, and MassMutual typically offer structured ramp-up programs that include bonuses tied to commissions, which can significantly enhance initial earnings. On the other hand, wirehouses might hire through scaled-back training programs, while registered investment advisors (RIAs) focus on bringing in associate advisors from the CFP candidate pool. New entrants to the field should consider obtaining relevant credentials, such as a Series 7 or Series 66 license, as well as pursuing the Certified Financial Planner (CFP) designation, which is highly respected among firms. Given the current industry trends, which show a growth in fee-only RIAs compared to traditional commission-based models, a clear career strategy in the first few years could result in competitive compensation, with realistic salary growth continuing as advisors transition from entry-level roles to more seasoned positions.
More salary data for Cleveland, OH:
Frequently Asked Questions
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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.
Methodology & Data Source
Entry-level 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. The 10th percentile (entry-level) is used as the starting salary benchmark for new financial planning graduates. A 3.30% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to project current 2026 entry-level compensation in Cleveland. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Source: BLS, OEWS, 7-year dataset (–). Per-city data from annual BLS metropolitan area surveys.
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.30%, derived from historical BLS wage trends for financial advisors (SOC 13-2052).
Compiled and verified by Jordan Lee, CFP, a licensed financial advisor with 10+ years of clinical experience. · View source data at BLS.gov