Financial Advisor Salary in Allen Park, MI: $87,941 (2026)
Quick Answer:A full-time financial advisor in Allen Park, MI earns a median $87,941/year (≈ $42.28/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Allen Park's price level (7% below national, BEA RPP 93.2), that paycheck buys what $94,357 would nationally. Nominal pay sits 3.4% below the Michigan state average.
Based on BLS state-level estimates · View source
In 2026, financial advisors in Allen Park, Michigan, can expect a median annual salary of $87,941, which reflects a distinctly lower compensation level compared to the national median of $108,537. The range for financial advisor pay in Allen Park spans from $51,006 at the 10th percentile to $136,310 at the 90th percentile. These figures, derived from 2025 BLS OEWS data and adjusted for local cost factors, highlight the impact of the dual employment models in the industry—wirehouses and Registered Investment Advisors (RIAs). While financial advisors at wirehouses may vary in their earnings depending on commissions, those working under an AUM model tend to secure better long-term pay as the RIA scene grows. With a local employment figure of five financial advisors, the market appears stable yet niche, driving the compensation dynamic.
About the Allen Park Market
Salary estimated from Michigan average ($98,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $51,006 | $24.52 |
| Lower Range (P25) | $63,318 | $30.44 |
| Median (P50)(typical) | $87,941 | $42.28 |
| Upper Range (P75) | $112,565 | $54.12 |
| Top Earners (P90) | $136,310 | $65.53 |
Median Salary Position
18.98% below the national average
2026 Salary Percentile Distribution in Allen Park
In Allen Park, MI, the financial advisor salary spread from the 10th to 90th percentile is $85,304 (2026 est.). At $87,941, the local median is 18.98% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Allen Park: You'd be in the lower-middle range
How Allen Park Financial Advisor Pay Compares
Allen Park median: $87,941/year (2026)
| Compared To | Median Salary | Allen Park Pays |
|---|---|---|
| Michigan Average | $91,037 | -3.40% less |
| National Average | $108,537 | -18.98% less |
Financial Advisors in Allen Park, MI earn a median of $87,941 per year (2026 est.), which is 18.98% lower than the national median of $108,537 and 3.40% below the Michigan state average of $91,037.
Cost-of-Living Adjusted Salary
Allen Park has a cost of living 6.80% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Allen Park, MI has a cost-of-living index of 93.2 (below the national average of 100). A financial advisor earning $87,941 nominally has purchasing power equivalent to $94,357 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$71,180
2025 BLS Actual
$85,132
2026 Current Est.
$87,941
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Allen Park (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $71,180 | Actual |
| 2020 | $72,379 | Actual |
| 2021 | $76,300 | Actual |
| 2022 | $77,289 | Actual |
| 2023 | $80,684 | Actual |
| 2024 | $88,259 | Actual |
| 2025 | $85,132 | Actual |
| 2026(current) | $87,941 | Estimated |
| 2027 | $90,843 | Projected |
Based on 7 years of BLS OEWS data for the Allen Park metropolitan area, the median financial advisor salary grew 19.6% from $71,180 (2019) to $85,132 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $90,843 by 2027 — a total increase of $19,663 (27.62%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Allen Park 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) | $51,006 – $63,318 |
| 3-5 years (Mid Career) | $63,318 – $87,941 |
| 5+ years (Experienced) | $87,941 – $112,565 |
| 10+ years (Top Earner) | $112,565 – $136,310 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Allen Park
As the cost of living index in Allen Park stands at 93.2, financial advisors must navigate a landscape where their take-home pay is impacted by regional economics. With only five financial advisors employed locally, companies must leverage talent effectively to remain competitive. Among notable employers such as Morgan Stanley, Wells Fargo Advisors, and independent options like LPL or Raymond James, compensation often hinges on a combination of client book size, fee structure, and professional credentials. The disparity in pay can arise from factors including management of high-net-worth clients, AUM fee percentages, and the influence of certifications like the CFP or CFA. Advisors seeking to maximize their pay should focus on building a robust client base and consider transitioning to RIAs, where compensation is more aligned with long-term financial planning success rather than purely transactional models, thus enhancing their potential within the Allen Park, MI market.
More salary data for Allen Park, 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
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 $85,132 for financial advisorsin the Allen Park 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 Allen Park 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