Financial Advisor Salary in Springfield, IL: $159,464 (2026)
Quick Answer:A full-time financial advisor in Springfield, IL earns a median $159,464/year (≈ $76.67/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Springfield's price level (7% below national, BEA RPP 92.7), that paycheck buys what $171,938 would nationally. Nominal pay sits 37.4% above the Illinois state average.
Official BLS data · View source
In Springfield, Illinois, financial advisors can expect a competitive median annual salary of $159,464 in 2026, significantly above the national median of $108,537. The salary range for this role is quite broad, spanning from $63,292 at the 10th percentile to $414,873 at the 90th percentile, reflecting the structural divide between wirehouses and Registered Investment Advisors (RIAs). This pay scale is influenced by various factors, including the assets under management (AUM) model that many advisors utilize. With over 100 financial advisors based in Springfield, the market is poised for growth in alignment with the national trend, fueled by increasing wealth management needs across the region.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $63,292 | $30.43 |
| Lower Range (P25) | $87,113 | $41.88 |
| Median (P50)(typical) | $159,464 | $76.67 |
| Upper Range (P75) | $240,431 | $115.59 |
| Top Earners (P90) | $414,873 | $199.46 |
Median Salary Position
46.92% above the national average
2026 Salary Percentile Distribution in Springfield
In Springfield, IL, the financial advisor salary spread from the 10th to 90th percentile is $351,581 (2026 est.). At $159,464, the local median is 46.92% above the national median of $108,537.
Salary Calculator
At 40 hours/week in Springfield: You'd be in the lower-middle range
How Springfield Financial Advisor Pay Compares
Springfield median: $159,464/year (2026)
| Compared To | Median Salary | Springfield Pays |
|---|---|---|
| Illinois Average | $116,058 | +37.40% more |
| National Average | $108,537 | +46.92% more |
Financial Advisors in Springfield, IL earn a median of $159,464 per year (2026 est.), which is 46.92% higher than the national median of $108,537 and 37.40% above the Illinois state average of $116,058.
Cost-of-Living Adjusted Salary
Springfield has a cost of living 7.25% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Springfield, IL has a cost-of-living index of 92.745 (below the national average of 100). A financial advisor earning $159,464 nominally has purchasing power equivalent to $171,938 in an average-cost city — an effective 7.82% boost.
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2019 BLS Actual
$85,660
2025 BLS Actual
$154,370
2026 Current Est.
$159,464
2019–2027 Growth
+92.3%
Salary Trajectory for Financial Advisors in Springfield (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $85,660 | Actual |
| 2020 | $80,320 | Actual |
| 2021 | $96,040 | Actual |
| 2022 | $80,530 | Actual |
| 2023 | $100,840 | Actual |
| 2024 | $104,470 | Actual |
| 2025 | $154,370 | Actual |
| 2026(current) | $159,464 | Estimated |
| 2027 | $164,727 | Projected |
Based on 7 years of BLS OEWS data for the Springfield metropolitan area, the median financial advisor salary grew 80.2% from $85,660 (2019) to $154,370 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $164,727 by 2027 — a total increase of $79,067 (92.30%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Springfield 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) | $63,292 – $87,113 |
| 3-5 years (Mid Career) | $87,113 – $159,464 |
| 5+ years (Experienced) | $159,464 – $240,431 |
| 10+ years (Top Earner) | $240,431 – $414,873 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Springfield
The financial advisor job market in Springfield is bolstered by its strong employment figures, driven by a combination of wirehouses, independent broker-dealers, and fiduciary RIAs. With a cost-of-living index of 92.745, residents enjoy relatively affordable living conditions, which may enhance the take-home purchasing power of advisors. Among employers, wirehouse firms such as Merrill Lynch and Morgan Stanley typically offer higher salaries, albeit accompanied by commission-based compensation models. In contrast, RIAs, which favor a fee-only structure, may present a favorable long-term growth opportunity as they continue to gain market share. The variation in salaries can often be attributed to factors like client concentration, AUM book size, and advisor credentials. For those looking to maximize their financial advisor pay in Springfield, focusing on building a broad client base and obtaining advanced certifications such as the CFP or CFA can significantly impact earnings potential in this evolving market.
More salary data for Springfield, 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 $154,370 for financial advisorsin the Springfield 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
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