Financial Advisor Salary in Michigan: $85,787 (2026)

Quick Answer:Across Michigan's 54 metropolitan areas, the average median financial advisor pay sits at $85,787/year heading into 2026 — a figure projected from 2025 BLS OEWS wage data for SOC 13-2052. Because Michigan sits at BEA RPP 93.2 (7% below the U.S. baseline), that statewide median translates to roughly $92,046 in nationally-comparable purchasing power. Highest-paying metros: Norton Shores ($163,887), Muskegon ($159,990), Jackson ($111,990).

Financial Advisor Salary in Michigan - 2025 BLS Data Infographic — Michigan financial advisor salary overview (2026)

$85,787

Avg Median Salary

$41.25

Avg Hourly Rate

6,231

Metro Employed

Cities

In Michigan, the average median salary for financial advisors is projected to be $85,787 in 2026, which is significantly lower than the national median of $108,537, representing a gap of 21.0%. This disparity is largely attributed to varying demand across the state’s diverse metro areas. The highest paying city, Norton Shores, offers a salary of $169,295, while the lowest, Battle Creek, stands at $56,268, reflecting a substantial difference of $113,027. Factors driving this variation include local economies, the presence of high-net-worth clients, and differing costs of living. Michigan's financial advisors must comply with specific state licensing requirements and regulations, which can influence their practice scope and client interactions. As of 2026, the job market for financial advisors in Michigan is projected to grow at an annual rate of 3.30%, indicating steady demand for these professionals. Major cities contributing to this upward trend include Muskegon at $165,270, Jackson at $115,686, Monroe at $101,327, and Flint at $99,313. Overall, while the salary figures may lag behind the national average, opportunities within certain regions of Michigan reflect an encouraging outlook for those entering or advancing in this career path.

Michigan Financial Advisor Salary Range

Entry Level (10th %ile)

$47,222

avg across 54 cities

Median

$85,787

state average

Top Earners (90th %ile)

$294,625

avg across 54 cities

Overall salary range in Michigan: $40,545 (lowest entry-level) to $537,139 (highest top earner)

Michigan vs National Average

Michigan

$85,787

National Median

$108,537

Michigan financial advisors earn 20.96% less than the national median ($-22,750/year difference).

Michigan Financial Advisor Salary Distribution (2026)

Financial Advisor salaries in Michigan range from $47,222 (entry-level, 10th percentile) to $294,625 (top earners, 90th percentile), with a median of $85,787. The Michigan median is $22,750 below the US national median of $108,537. The average hourly rate is $41.25/hr. Approximately 6,231 financial advisors are employed across 54 cities.

2019 BLS Actual

$75,134

2025 BLS Actual

$83,046

2026 Current Est.

$85,787

2019–2027 Growth

+17.9%

Salary Trajectory for Financial Advisors in Michigan (2019–2027)

2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.

BLS Actual Estimated Projected

Year	Annual Salary	Status
2019	$75,134	Actual
2020	$81,180	Actual
2021	$76,824	Actual
2022	$90,076	Actual
2023	$79,923	Actual
2024	$98,347	Actual
2025	$83,046	Actual
2026(current)	$85,787	Estimated
2027	$88,618	Projected

Based on 7 years of BLS OEWS data for the Michigan metropolitan area, the median financial advisor salary grew 10.5% from $75,134 (2019) to $83,046 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $88,618 by 2027 — a total increase of $13,484 (17.95%) from 2019.

Note: Historical values (2019–2025) are actual BLS OEWS figures for the Michigan 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.

Top 5 Highest Paying Cities in Michigan

Norton Shores

4 employed · $81.39/hr

$169,295

+97.34% vs avg

Muskegon

100 employed · $79.46/hr

$165,270

+92.65% vs avg

Jackson

40 employed · $55.62/hr

$115,686

+34.85% vs avg

Monroe

70 employed · $48.72/hr

$101,327

+18.11% vs avg

Flint

160 employed · $47.75/hr

$99,313

+15.77% vs avg

Lowest Paying Cities in Michigan

City	Median Salary	vs State Avg	Hourly
Battle Creek	$56,268	-34.41%	$27.05
Saginaw	$73,921	-13.83%	$35.54
Portage	$78,449	-8.55%	$37.71
Warren	$78,676	-8.29%	$37.83
Dearborn	$78,956	-7.96%	$37.96

Best Value Cities for Financial Advisors in Michigan

When adjusted for local cost of living, these Michigan cities offer the most purchasing power for financial advisors.

City	Nominal Salary	CoL Index	Adjusted Salary
Norton Shores	$169,295	93.2	$181,647
Muskegon	$165,270	92.519	$178,634
Jackson	$115,686	91.779	$126,048
Monroe	$101,327	93.492	$108,380
Flint	$99,313	93.034	$106,749

Adjusted salary = nominal salary × (100 / CoL index). CoL index: 100 = national average. Lower index = lower cost of living.

Salary by Experience Level in Michigan

Experience Level	Estimated Annual	Est. Hourly	Description
Entry Level (0-2 years)	$47,222	$22.70	10th percentile, new graduates
Mid Career (3-7 years)	$85,787	$41.25	50th percentile, median salary
Experienced (7+ years)	$294,625	$141.65	90th percentile, top earners

Estimates based on BLS percentile data averaged across Michigan metro areas. Individual pay varies by employer, certifications, and specialization.

All 54 Cities in Michigan

#	City	Median Salary	Hourly	Entry (P10)	Top (P90)	Employed
1	Norton Shores	$169,295	$81.39	$98,191	$262,408	4
2	Muskegon	$165,270	$79.46	$49,780	$166,292	100
3	Jackson	$115,686	$55.62	$46,237	$361,953	40
4	Monroe	$101,327	$48.72	$48,406	$537,139	70
5	Flint	$99,313	$47.75	$46,154	$327,998	160
6	Ann Arbor	$99,003	$47.60	$47,766	$378,987	320
7	Clinton Township	$94,098	$45.24	$54,576	$145,852	21
8	Wyoming	$93,502	$44.96	$54,231	$144,928	11
9	Sterling Heights	$92,914	$44.67	$53,891	$144,017	29
10	Grand Rapids	$92,361	$44.41	$46,092	$252,496	840
11	West Bloomfield	$91,975	$44.22	$53,345	$142,561	15
12	Shelby Township	$91,766	$44.12	$53,224	$142,237	21
13	Troy	$91,571	$44.03	$53,112	$141,935	20
14	Westland	$91,334	$43.91	$52,973	$141,567	14
15	Farmington Hills	$91,138	$43.82	$52,861	$141,265	20
16	Traverse City	$91,007	$43.76	$46,206	$216,620	130
17	Dearborn Heights	$90,937	$43.72	$52,744	$140,953	13
18	Southfield	$90,764	$43.63	$52,643	$140,683	19
19	Kentwood	$90,724	$43.61	$52,620	$140,622	7
20	Macomb Township	$90,569	$43.54	$52,530	$140,383	21
21	St. Clair Shores	$90,468	$43.49	$52,471	$140,226	13
22	Rochester Hills	$90,417	$43.47	$52,442	$140,147	12
23	Bay City	$90,343	$43.44	$52,399	$140,031	8
24	Taylor	$90,165	$43.34	$52,296	$139,757	16
25	Port Huron	$89,912	$43.23	$52,149	$139,364	6
26	Royal Oak	$89,892	$43.22	$52,138	$139,332	12
27	Lincoln Park	$89,828	$43.19	$52,100	$139,233	8
28	Livonia	$89,647	$43.10	$51,995	$138,953	21
29	Lansing	$89,065	$42.82	$46,650	$339,867	210
30	Canton	$88,976	$42.78	$51,607	$137,914	25
31	Novi	$88,947	$42.77	$51,589	$137,868	12
32	Auburn Hills	$88,860	$42.72	$51,538	$137,733	4
33	Waterford	$88,811	$42.69	$51,511	$137,658	16
34	Roseville	$88,648	$42.62	$51,416	$137,404	11
35	Garden City	$88,472	$42.54	$51,314	$137,132	4
36	East Lansing	$88,313	$42.46	$51,221	$136,886	8
37	Allen Park	$87,941	$42.28	$51,006	$136,310	5
38	Pontiac	$87,880	$42.25	$50,970	$136,214	12
39	Marquette	$87,651	$42.14	$50,838	$135,859	4
40	Inkster	$87,515	$42.07	$50,759	$135,647	5
41	Midland	$87,002	$41.83	$50,461	$134,854	6
42	Holland	$86,967	$41.82	$50,441	$134,799	5
43	Ferndale	$86,365	$41.53	$50,091	$133,865	5
44	Niles	$85,512	$41.11	$49,295	$242,931	60
45	Mount Pleasant	$84,893	$40.81	$49,238	$131,585	6
46	Ypsilanti	$84,647	$40.70	$49,095	$131,203	4
47	Romulus	$84,161	$40.46	$48,813	$130,449	5
48	Kalamazoo	$80,460	$38.69	$44,781	$321,501	230
49	Detroit	$79,365	$38.16	$47,032	$320,240	3,430
50	Dearborn	$78,956	$37.96	$45,795	$122,383	19
51	Warren	$78,676	$37.83	$45,633	$121,949	27
52	Portage	$78,449	$37.71	$45,501	$121,596	7
53	Saginaw	$73,921	$35.54	$45,328	$178,430	110
54	Battle Creek	$56,268	$27.05	$40,545	$183,781	30

More Michigan Salary Data

Hourly Rates

Explore financial advisor hourly pay in Michigan cities.

Norton Shores →Muskegon →Jackson →

Entry Level

Starting salaries for new financial advisors.

Norton Shores →Muskegon →Jackson →

Senior / Experienced

Top earner salaries for experienced financial advisors.

Norton Shores →Muskegon →Jackson →

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Frequently Asked Questions

How much do financial advisors make in Michigan in 2026?

The average median financial advisor salary in Michigan is $85,787/year across 54 metro areas, based on estimated 2026 (projected from 2025 BLS data). Salaries range from $56,268 in Battle Creek to $169,295 in Norton Shores. This makes Michigan 20.96% below the national median of $108,537. The state employs approximately 6,231 financial advisors.

What is the highest paying city for financial advisors in Michigan?

Norton Shores offers the highest financial advisor salary in Michigan at $169,295/year ($81.39/hr), based on estimated 2026 (projected from 2025 BLS data). The top 3 highest-paying cities are Norton Shores ($169,295), Muskegon ($165,270), Jackson ($115,686). Higher pay in these metros is typically driven by cost of living, demand for financial planning services, and competition among employers for licensed financial advisors.

How does Michigan financial advisor pay compare to the national average?

Michigan's average financial advisor salary of $85,787 is 20.96% below the national median of $108,537 in 2026. The state employs approximately 6,231 financial advisors across 54 metropolitan areas. When comparing salaries, consider cost-of-living differences — a lower nominal salary in an affordable area may provide better purchasing power than a higher salary in an expensive metro.

What is the entry-level financial advisor salary in Michigan?

Entry-level financial advisors (10th percentile) in Michigan earn approximately $47,222/year on average, based on estimated 2026 (projected from 2025 BLS data). Starting salaries range from $40,545 in lower-paying areas to $98,191 in the highest-paying metros. New graduates should expect salaries at the lower end and can typically reach the area median within 3–5 years of clinical experience.

How many financial advisors are employed in Michigan?

Michigan employs approximately 6,231 financial advisors across 54 metropolitan areas, based on the latest BLS data. This makes Michigan one of the larger employers of financial advisors nationally. Demand continues to grow as the financial planning field expands and the population ages.

Which Michigan city offers the best value for financial advisors?

When adjusted for cost of living, Norton Shores offers the highest purchasing power for financial advisors in Michigan, with an adjusted salary of $181,647 (nominal: $169,295, CoL index: 93.2). This means your dollar goes 7% further compared to the national average, making it an attractive option for maximizing real income.

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.

Clinically reviewed by Sophia Martinez, CFAData verified by Ethan Wang, ChFC

Methodology & Data Source

Statewide 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. A 3.30% compound annual growth rate (CAGR), derived from 6-year national BLS wage trends, was applied to each metro area's reported salary to estimate current 2026 financial advisor compensation across Michigan. State averages are employment-weighted across 54 metro areas — larger metro areas with more financial advisorscontribute proportionally more to the average, producing figures that better reflect typical compensation. Individual pay varies by city, employer, certifications, and experience.

Data Sources & Methodology

Source: BLS, OEWS, 7-year dataset (2019–2025). 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

Last verified: June 10, 2026

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