Financial Advisor Hourly Pay in Novi, MI: $42.77 (2026)
Quick Answer:Hourly pay for a financial advisor working in Novi, MI runs $42.77 at the median for 2026 — annualizing to $88,947 at a standard 2,080-hour year. Figures projected from BLS OEWS 2025 (SOC 13-2052). Weighted against Novi's regional price level (BEA RPP 93.2, 7% below national), each hour of work buys what $45.89 nationally would. A 24-hour part-time schedule grosses $53,372 per year.
Based on BLS state-level estimates · View source
In Novi, Michigan, the financial advisor hourly pay is projected to be $42.77 in 2026, significantly lower than the national median hourly rate of $52.18. This difference highlights the local market dynamics, which may influence the earning potential for part-time and per-diem financial advisors. Those working part-time, for example, on a three-day work week might expect to earn around $51,865 annually based on an average of 24 hours weekly—this translates to a consistent paycheck while allowing for flexibility. Entry-level advisors could earn as little as $24.80 per hour, while top performers in the industry might command hourly rates reaching $66.29. Different work settings—ranging from wirehouse branch offices and independent fee-only RIA meeting rooms to insurance agencies and remote meetings—can greatly affect those hourly rates as they seek to balance client needs with the offered compensation.
About the Novi 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) | $24.80 | $198.42 |
| Lower Range (P25) | $30.79 | $246.35 |
| Median (P50) | $42.77 | $342.13 |
| Upper Range (P75) | $54.74 | $437.91 |
| Top Earners (P90) | $66.29 | $530.30 |
Estimated Annual Income by Work Schedule in Novi
Based on $42.77/hr median hourly rate · 2026 est.
At $42.77/hr, a financial advisor working full-time (40 hr/wk) in Novi, MI can expect to earn approximately $88,954 per year (2026 est.). Part-time hygienists working 24 hours per week would earn around $51,319. With a cost-of-living index of 93.20 (below the national average), these earnings stretch further in Novi.
Hourly Rate Calculator
Schedule Comparison in Novi
| Schedule | Weekly | Monthly | Annual |
|---|---|---|---|
| Full-Time (40 hrs) | $1,710.65 | $7,413 | $88,954 |
| Part-Time (24 hrs) | $1,026.39 | $4,448 | $53,372 |
| Per Diem (16 hrs) | $684.26 | $2,965 | $35,581 |
Compare CFP, FA Wages With Similar Roles
| Role | Median Hourly |
|---|---|
| Financial Advisor (Novi) | $42.77 |
| 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 Novi, MI earn a median of $88,947 per year (2026 est.), which is 18.05% lower than the national median of $108,537 and 2.30% below the Michigan state average of $91,041.
Financial Advisor Hourly Pay vs. Cost of Living
Working 24h/week at $42.77/hr = $53,372/year (purchasing power: $57,266).
Working 40h/week (full-time) = $88,954/year (purchasing power: $95,444).
CoL index: 93.2 (100 = national average). Your dollars stretch further here.
2019 BLS Actual
$34.61/hr
2025 BLS Actual
$41.40/hr
2026 Current Est.
$42.77/hr
2019–2027 Growth
+27.6%
Hourly Rate Trajectory for Financial Advisors in Novi (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Hourly Rate | Status |
|---|---|---|
| 2019 | $34.61/hr | Actual |
| 2020 | $35.20/hr | Actual |
| 2021 | $37.11/hr | Actual |
| 2022 | $37.59/hr | Actual |
| 2023 | $39.24/hr | Actual |
| 2024 | $42.92/hr | Actual |
| 2025 | $41.40/hr | Actual |
| 2026(current) | $42.77/hr | Estimated |
| 2027 | $44.18/hr | Projected |
Based on 7 years of BLS OEWS metropolitan area data, the median hourly rate for financial advisors in Novi grew 19.6% from $34.61/hr (2019) to $41.40/hr (2025). At a 3.30% projected growth rate, hourly pay is expected to reach $44.18/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 Novi 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 Novi
Looking at the practical aspects of financial advisor roles in Novi, part-time financial advisors who work three days a week and total around 24 hours could see their annual take-home dramatically differ from full-time peers. Per-diem or 1099 relationships are rare for those starting out unless they have extensive experience that draws clients directly to them. Established advisors often charge between $3,000 and $15,000 for comprehensive project-based plans and might secure annual retainers for consulting at small businesses ranging from $5,000 to $25,000. Additionally, hourly rates can vary widely by employer type; wirehouses may provide steady clients but with more structured pay, while independent broker-dealers and RIAs often allow for greater flexibility and project-based income. It's a vital consideration for those weighing the benefits of higher hourly pay without the security of health insurance. Negotiating hourly rates involves understanding local pay structures and leveraging unique skills in a competitive market like Novi, where the financial services sector is adapting to a shift towards fiduciary models amid changing client expectations.
More salary data for Novi, 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 Novi. 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 Novi 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