Financial Advisor Salary in Grand Rapids, MI: $92,361 (2026)
Quick Answer:A full-time financial advisor in Grand Rapids, MI earns a median $92,361/year (≈ $44.41/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Grand Rapids's price level (4% below national, BEA RPP 95.5), that paycheck buys what $96,667 would nationally. Nominal pay sits 1.5% above the Michigan state average.
Official BLS data · View source
In Grand Rapids, the financial advisor salary reflects a dynamic interplay between wirehouse and Registered Investment Advisor (RIA) models, significantly influenced by the assets under management (AUM) fee structure that many RIAs employ. With a median annual salary projected at $92,361 in 2026, the pay spectrum for financial advisors varies substantially, ranging from $46,092 at the lower end (P10) to a notable $252,496 at the upper extreme (P90). Data for these figures is derived from official Bureau of Labor Statistics (BLS) Occupational Employment and Wage Statistics surveys, offering a clear picture of financial advisory compensation in this Midwestern market. The ongoing shift towards the fiduciary model among RIAs contributes to competitive salary structures, impacting job seekers as they evaluate entry-level and senior positions alike amidst a growing need for financial expertise.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $46,092 | $22.16 |
| Lower Range (P25) | $48,871 | $23.49 |
| Median (P50)(typical) | $92,361 | $44.41 |
| Upper Range (P75) | $160,559 | $77.20 |
| Top Earners (P90) | $252,496 | $121.39 |
Median Salary Position
14.9% below the national average
2026 Salary Percentile Distribution in Grand Rapids
In Grand Rapids, MI, the financial advisor salary spread from the 10th to 90th percentile is $206,404 (2026 est.). At $92,361, the local median is 14.9% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Grand Rapids: You'd be in the entry-level range
How Grand Rapids Financial Advisor Pay Compares
Grand Rapids median: $92,361/year (2026)
| Compared To | Median Salary | Grand Rapids Pays |
|---|---|---|
| Michigan Average | $90,996 | +1.50% more |
| National Average | $108,537 | -14.90% less |
Financial Advisors in Grand Rapids, MI earn a median of $92,361 per year (2026 est.), which is 14.90% lower than the national median of $108,537 and 1.50% above the Michigan state average of $90,996.
Cost-of-Living Adjusted Salary
Grand Rapids has a cost of living 4.45% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Grand Rapids, MI has a cost-of-living index of 95.546 (below the national average of 100). A financial advisor earning $92,361 nominally has purchasing power equivalent to $96,667 in an average-cost city — an effective 4.66% boost.
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2019 BLS Actual
$70,370
2025 BLS Actual
$89,410
2026 Current Est.
$92,361
2019–2027 Growth
+35.6%
Salary Trajectory for Financial Advisors in Grand Rapids (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $70,370 | Actual |
| 2020 | $72,080 | Actual |
| 2021 | $61,750 | Actual |
| 2022 | $69,540 | Actual |
| 2023 | $75,730 | Actual |
| 2024 | $98,860 | Actual |
| 2025 | $89,410 | Actual |
| 2026(current) | $92,361 | Estimated |
| 2027 | $95,408 | Projected |
Based on 7 years of BLS OEWS data for the Grand Rapids metropolitan area, the median financial advisor salary grew 27.1% from $70,370 (2019) to $89,410 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $95,408 by 2027 — a total increase of $25,038 (35.58%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Grand Rapids 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) | $46,092 – $48,871 |
| 3-5 years (Mid Career) | $48,871 – $92,361 |
| 5+ years (Experienced) | $92,361 – $160,559 |
| 10+ years (Top Earner) | $160,559 – $252,496 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Grand Rapids
The job market for financial advisors in Grand Rapids is robust, with approximately 840 professionals currently employed in the area. A cost-of-living index of 95.546 indicates that advisors here can enjoy relatively better purchasing power compared to national averages, which is a critical consideration when analyzing financial advisor pay in Grand Rapids MI. Major employers like Morgan Stanley and Merrill Lynch tend to offer higher salaries, particularly for advisors with large AUM books and established client bases, while RIAs with specific fee-only models showcase competitive compensation based on independent advice. Factors driving the wide salary disparities include client concentration, the premiums associated with CFP or CFA credentials, and the variable compensation structures between commission-based wirehouses and AUM-driven RIAs. For aspiring advisors, focusing on building a strong portfolio, gaining recognized certifications, and potentially considering a move to RIAs could provide avenues for enhancing earning potential in this vibrant market.
More salary data for Grand Rapids, 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 $89,410 for financial advisorsin the Grand Rapids 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