Financial Advisor Hourly Pay in Ferndale, MI: $41.53 (2026)
Quick Answer:Hourly pay for a financial advisor working in Ferndale, MI runs $41.53 at the median for 2026 — annualizing to $86,365 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 13-2052). Weighted against Ferndale's regional price level (BEA RPP 93.2, 7% below national), each hour of work buys what $44.56 nationally would. A 24-hour part-time schedule grosses $51,825 per year.
Based on BLS state-level estimates · View source
In Ferndale, Michigan, financial advisors earn a median hourly pay of $41.53, which significantly trails the national hourly median of $52.18. This disparity indicates that financial advisors in Ferndale may face more challenges in achieving higher earnings, particularly if they work part-time or on a per-diem basis. Advisors typically set up their practice in various environments, including wirehouse branch offices or virtual meeting spaces, which can lead to flexible working arrangements. For professionals in this field, hourly rates range from $24.08 at the entry-level to an attractive $64.36 for top earners. These estimates are derived from the projected annual salary data for 2026, reflecting the pay landscape in this competitive market.
About the Ferndale Market
Salary estimated from Michigan average ($98,000) adjusted for local cost of living.
Financial Advisor Hourly Wage Breakdown
| Percentile | Hourly Rate | Per 8hr Shift |
|---|---|---|
| Entry Level (P10) | $24.08 | $192.63 |
| Lower Range (P25) | $29.90 | $239.16 |
| Median (P50) | $41.53 | $332.21 |
| Upper Range (P75) | $53.15 | $425.18 |
| Top Earners (P90) | $64.36 | $514.85 |
Estimated Annual Income by Work Schedule in Ferndale
Based on $41.53/hr median hourly rate · 2026 est.
At $41.53/hr, a financial advisor working full-time (40 hr/wk) in Ferndale, MI can expect to earn approximately $86,375 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $49,832. With a cost-of-living index of 93.20 (below the national average), these earnings stretch further in Ferndale.
Hourly Rate Calculator
Schedule Comparison in Ferndale
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $1,661.06 | $7,198 | $86,375 |
| Part-Time (24 hrs) | $996.64 | $4,319 | $51,825 |
| Per Diem (16 hrs) | $664.43 | $2,879 | $34,550 |
Compare CFP, FA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Financial Advisor (Ferndale) | $41.53 |
| 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 Ferndale, MI earn a median of $86,365 per year (2026 est.), which is 20.43% lower than the national median of $108,537 and 5.10% below the Michigan state average of $91,006.
Financial Advisor Hourly Pay vs. Cost of Living
Working 24h/week at $41.53/hr = $51,825/year (purchasing power: $55,606).
Working 40h/week (full-time) = $86,375/year (purchasing power: $92,677).
CoL index: 93.2 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$33.61/hr
2025 BLS Actual
$40.20/hr
2026 Current Est.
$41.53/hr
2019–2027 Growth
+27.6%
Hourly Rate Trajectory for Financial Advisors in Ferndale (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $33.61/hr | Actual |
| 2020 | $34.18/hr | Actual |
| 2021 | $36.03/hr | Actual |
| 2022 | $36.50/hr | Actual |
| 2023 | $38.10/hr | Actual |
| 2024 | $41.67/hr | Actual |
| 2025 | $40.20/hr | Actual |
| 2026(current) | $41.53/hr | Estimated |
| 2027 | $42.90/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for financial advisors in Ferndale grew 19.6% from $33.61/hr (2019) to $40.20/hr (2025). At a 3.30% projected growth rate, hourly pay is expected to reach $42.90/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 Ferndale 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 Ferndale
Part-time financial advisors in Ferndale, working a typical three-day week and totaling around 24 hours, can anticipate a take-home of approximately $51,425 per year, considerably less than their full-time counterparts. While per-diem or 1099 consulting roles are less common at the entry level, experienced fiduciary advisors can command substantial fees, ranging from $3,000 to $15,000 for comprehensive project-based plans. Specialized consulting for small businesses can garner retainers between $5,000 and $25,000 annually. Hourly rates vary across employer types, with wirehouse firms often offering a lower base compared to fee-only RIAs, which may provide higher hourly compensation without traditional benefits like health insurance. Financial advisors in Ferndale should consider their negotiation strategies, weighing the trade-offs between flexibility and benefits when discussing their financial advisor hourly pay MI rates with potential employers.
More salary data for Ferndale, 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 Ferndale. Part-time and full-time income estimates assume consistent weekly hours and do not account for overtime, benefits, or seasonal variation.
Data Sources & Methodology
Salary data for Ferndale 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