Financial Advisor Hourly Pay in Detroit, MI: $38.16 (2026)
Quick Answer:Hourly pay for a financial advisor working in Detroit, MI runs $38.16 at the median for 2026 — annualizing to $79,365 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 13-2052). Weighted against Detroit's regional price level (BEA RPP 100.3, 0% above national), each hour of work buys what $38.05 nationally would. A 24-hour part-time schedule grosses $47,622 per year.
Official BLS data · View source
In Detroit, the financial advisor hourly pay is projected to hit a median of $38.16 in 2026, which is notably lower than the national median of $52.18. This rate influences part-time and per-diem financial consultants who typically operate in environments like wirehouse branch offices, insurance agency offices, or during virtual planning meetings. For those working three days a week, the wage represents a thoughtful balance between income and time dedicated to clients, frequently attracting individuals who value flexibility over full-time employment. Entry-level advisors may start around $22.61, while top earners can command hourly rates as high as $153.96, reflecting the significant variance found within the industry based on expertise, location, and type of practice.
Financial Advisor Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $22.61 | $180.90 |
| Lower Range (P25) | $24.62 | $196.93 |
| Median (P50) | $38.16 | $305.27 |
| Upper Range (P75) | $69.52 | $556.17 |
| Top Earners (P90) | $153.96 | $1231.67 |
Estimated Annual Income by Work Schedule in Detroit
Based on $38.16/hr median hourly rate · 2026 est.
At $38.16/hr, a financial advisor working full-time (40 hr/wk) in Detroit, MI can expect to earn approximately $79,371 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $45,791. With a cost-of-living index of 100.30 (above the national average), these earnings may be offset by higher expenses in Detroit.
Hourly Rate Calculator
Schedule Comparison in Detroit
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $1,526.36 | $6,614 | $79,371 |
| Part-Time (24 hrs) | $915.82 | $3,969 | $47,622 |
| Per Diem (16 hrs) | $610.54 | $2,646 | $31,748 |
Compare CFP, FA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Financial Advisor (Detroit) | $38.16 |
| Financial Analyst (National Avg) | $47.61 |
| Accountant / Auditor (National Avg) | $39.88 |
| Insurance Sales Agent (National Avg) | $29.02 |
| Securities / Commodities Sales Agent (National Avg) | $35.30 |
Financial Advisors in Detroit, MI earn a median of $79,365 per year (2026 est.), which is 26.88% lower than the national median of $108,537 and 12.80% below the Michigan state average of $91,015.
Financial Advisor Hourly Pay vs. Cost of Living
Working 24h/week at $38.16/hr = $47,622/year (purchasing power: $47,481).
Working 40h/week (full-time) = $79,371/year (purchasing power: $79,135).
CoL index: 100.298 (100 = national average).
2019 BLS Actual
$36.43/hr
2025 BLS Actual
$36.94/hr
2026 Current Est.
$38.16/hr
2019–2027 Growth
+8.2%
Hourly Rate Trajectory for Financial Advisors in Detroit (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $36.43/hr | Actual |
| 2020 | $41.06/hr | Actual |
| 2021 | $39.30/hr | Actual |
| 2022 | $48.36/hr | Actual |
| 2023 | $37.47/hr | Actual |
| 2024 | $47.89/hr | Actual |
| 2025 | $36.94/hr | Actual |
| 2026(current) | $38.16/hr | Estimated |
| 2027 | $39.42/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for financial advisors in Detroit grew 1.4% from $36.43/hr (2019) to $36.94/hr (2025). At a 3.30% projected growth rate, hourly pay is expected to reach $39.42/hr by 2027. Part-time and per-diem financial advisors can use this multi-year trend to benchmark future contract negotiations.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Detroit 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.
Working as an Hourly Financial Advisor in Detroit
Examining the earning potential for part-time financial advisors in Detroit reveals interesting dynamics. A professional working 24 hours per week can expect annual earnings significantly less than those working full-time, typically translating to around $46,823 yearly, yet they still benefit from flexible schedules. The world of per diem financial advisor pay in Detroit is predominantly found among seasoned professionals, as junior advisors often lack the client base to justify massive project fees. Experienced fiduciary planners, on the other hand, can charge between $3,000-$15,000 for comprehensive financial plans, contributing substantially to income. Hourly rates also vary by employer type; wirehouses, independent broker-dealers, and small RIAs each provide different pay structures, often trading off higher pay for benefits like health insurance. Understanding these variations is essential for negotiating compensation effectively within the Detroit market, considering factors such as the structural divide between commission-based models and fee-only fiduciaries.
More salary data for Detroit, MI:
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
Hourly wage figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. A 3.30% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to estimate current 2026 hourly rates for financial advisors in Detroit. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
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