Entry-Level Financial Advisor Salary in Elyria, OH: $47,984 (2026)
Quick Answer:New financial advisors entering the Elyria, OH job market in 2026 can expect a starting salary around $47,984 (BLS 10th-percentile benchmark for SOC 13-2052, projected from 2025 OEWS data). Stripping out Elyria's local price level (BEA RPP 90.7 — 9% below national), a first-year paycheck buys what $52,904 would in average-cost America. Most reach the city median ($82,731) within a few years of clinical practice.
Based on BLS state-level estimates · View source
In 2026, new graduates entering the financial advisory field in Elyria, OH, can expect an entry-level financial advisor salary starting at around $47,984, which is significantly lower than the city’s median annual salary of $82,731. This initial compensation reflects the challenges new advisors face as they build their client base and gain experience. However, there is room for growth; as these entry-level professionals gain industry knowledge and credentials, their earnings can escalate to $59,566 at the 25th percentile and potentially reach the median within the first three to five years. Elyria presents a decent market for fresh graduates, especially considering the city's relatively low cost of living index of 90.7 compared to the national average, which may help new advisors to stretch their starting salaries further.
About the Elyria Market
Salary estimated from Ohio average ($95,000) adjusted for local cost of living.
Career Earnings Timeline in Elyria
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 Elyria
Entry-level financial advisors in Elyria, OH typically start between $47,984 and $59,566 per year (2026 est.). The full salary range spans $80,248 from the 10th to 90th percentile, with the local median at $82,731 — 23.78% below the national median.
Return on Investment
The average financial planning program cost in Ohio of $48,000 represents just 100.03% of the starting financial advisor pay ($47,984/year) in Elyria. 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 Elyria
- 1Research the Elyria market: entry-level financial advisor pay ranges from $47,984 to $59,566, 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 Elyria, 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 Elyria for competitive entry-level pay and structured mentorship, then move to a smaller employer once you have 2-3 years of experience.
- 5Elyria'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 Elyria is $80,248 ( 167.24%) between entry-level and top earners. Starting at $47,984, experienced hygienists can earn up to $128,232.
Represents the current salary spread across experience levels, not projected career growth rate.
2019 BLS Actual
$39,750
2025 BLS Actual
$46,451
2026 Current Est.
$47,984
2019–2027 Growth
+24.7%
Salary Trajectory for Financial Advisors in Elyria (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $39,750 | Actual |
| 2020 | $40,815 | Actual |
| 2021 | $44,026 | Actual |
| 2022 | $43,221 | Actual |
| 2023 | $45,100 | Actual |
| 2024 | $48,287 | Actual |
| 2025 | $46,451 | Actual |
| 2026(current) | $47,984 | Estimated |
| 2027 | $49,567 | Projected |
Entry-level financial advisor compensation (10th percentile) in Elyria, OH grew 16.9% over 7 years based on actual BLS metropolitan area surveys, rising from $39,750 in 2019 to $46,451 in 2025. By 2027, starting salaries are projected to reach $49,567. New graduates entering the Elyria job market can expect continued year-over-year gains.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Elyria 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 Elyria
For graduates seeking roles as financial advisors in Elyria, notable employers include established names like Northwestern Mutual and Edward Jones, which are known for their structured training programs that provide entry-level advisors with a ramp-up period and bonuses tied to performance. These organizations typically recruit candidates with at least a Bachelor's degree and the Series 7 and Series 66 licenses, which are essential for securities trading. Alternatively, fee-only Registered Investment Advisors (RIAs) have been growing, hiring new entrants who pursue the Certified Financial Planner (CFP) designation, which is highly valued in the industry. In this context, early-stage advisors should consider focusing on obtaining relevant credentials like the CFP to improve their earning potential. As they navigate their first few years in this bifurcating market, embracing a fee-based compensation model rather than a commission-based one could yield more stable, predictable income streams and, ultimately, lead to greater client trust and a successful career.
More salary data for Elyria, 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 Elyria. Program costs are averages and actual tuition varies by institution. ROI calculations are simplified estimates.
Data Sources & Methodology
Salary data for Elyria is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
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