Financial Advisor Salary in Mount Prospect, IL: $116,031 (2026)
Quick Answer:A full-time financial advisor in Mount Prospect, IL earns a median $116,031/year (≈ $55.78/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Mount Prospect's price level (3% below national, BEA RPP 97.1), that paycheck buys what $119,496 would nationally. Nominal pay sits 0.0% above the Illinois state average.
Based on BLS state-level estimates · View source
In 2026, financial advisors in Mount Prospect, Illinois, can expect a median annual salary of $116,031, which is notably higher than the national median of $108,537, giving these professionals a 6.90% premium over the national average. The salary range for this occupation in the area stretches from $67,298 at the 10th percentile to $179,847 at the 90th percentile, indicating significant variability in compensation based on factors such as experience, firm structure, and client portfolio size. These figures are derived from estimates based on 2025 BLS data, adjusted for regional cost-of-living differences. With the current trend toward independent advisory services, advisors who successfully transition from traditional wirehouses tend to see a substantial increase in their earnings potential over the long term, reflecting a shifting marketplace within Mount Prospect's financial advisory sector.
About the Mount Prospect Market
Salary estimated from Illinois average ($115,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $67,298 | $32.35 |
| Lower Range (P25) | $83,542 | $40.16 |
| Median (P50)(typical) | $116,031 | $55.78 |
| Upper Range (P75) | $148,520 | $71.40 |
| Top Earners (P90) | $179,847 | $86.46 |
Median Salary Position
6.90% above the national average
2026 Salary Percentile Distribution in Mount Prospect
In Mount Prospect, IL, the financial advisor salary spread from the 10th to 90th percentile is $112,549 (2026 est.). At $116,031, the local median is 6.9% above the national median of $108,537.
Salary Calculator
At 40 hours/week in Mount Prospect: You'd be in the lower-middle range
How Mount Prospect Financial Advisor Pay Compares
Mount Prospect median: $116,031/year (2026)
| Compared To | Median Salary | Mount Prospect Pays |
|---|---|---|
| National Average | $108,537 | +6.90% more |
Financial Advisors in Mount Prospect, IL earn a median of $116,031 per year (2026 est.), which is 6.90% higher than the national median of $108,537.
Cost-of-Living Adjusted Salary
Mount Prospect has a cost of living 2.90% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Mount Prospect, IL has a cost-of-living index of 97.1 (below the national average of 100). A financial advisor earning $116,031 nominally has purchasing power equivalent to $119,496 in an average-cost city — an effective 2.99% boost.
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2019 BLS Actual
$93,915
2025 BLS Actual
$112,324
2026 Current Est.
$116,031
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Mount Prospect (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $93,915 | Actual |
| 2020 | $95,497 | Actual |
| 2021 | $100,671 | Actual |
| 2022 | $101,976 | Actual |
| 2023 | $106,455 | Actual |
| 2024 | $111,614 | Actual |
| 2025 | $112,324 | Actual |
| 2026(current) | $116,031 | Estimated |
| 2027 | $119,860 | Projected |
Based on 7 years of BLS OEWS data for the Mount Prospect metropolitan area, the median financial advisor salary grew 19.6% from $93,915 (2019) to $112,324 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $119,860 by 2027 — a total increase of $25,945 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Mount Prospect 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.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $67,298 – $83,542 |
| 3-5 years (Mid Career) | $83,542 – $116,031 |
| 5+ years (Experienced) | $116,031 – $148,520 |
| 10+ years (Top Earner) | $148,520 – $179,847 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Mount Prospect
The local job market features 13 financial advisors, emphasizing both competition and opportunity for new entrants. With a cost-of-living index of 97.1, which is below the national average, the purchasing power for these advisors can be favorable for those earning in the upper tier of the pay scale. In Mount Prospect, the highest salaries often come from wirehouses like Morgan Stanley and UBS, as well as independent broker-dealers and RIAs who command fees based on assets under management. The disparity in compensation can be attributed to multiple factors, including the advisor's credentials such as CFP or CFA, the size of their client assets, and whether they operate under commission-based models or a fiduciary standard. Advisors aiming to maximize their financial advisor pay in Mount Prospect, IL, should consider focusing on high-net-worth clients and leveraging their expertise in fiduciary standards to attract a more lucrative clientele, ultimately enhancing their revenue and professional growth.
More salary data for Mount Prospect, IL:
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
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 BLS reported a median annual salary of $112,324 for financial advisorsin the Mount Prospect metropolitan area. A 3.30% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Mount Prospect 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