Financial Advisor Salary in Troy, MI: $91,571 (2026)
Quick Answer:A full-time financial advisor in Troy, MI earns a median $91,571/year (≈ $44.03/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Troy's price level (7% below national, BEA RPP 93.2), that paycheck buys what $98,252 would nationally. Nominal pay sits 0.6% above the Michigan state average.
Based on BLS state-level estimates · View source
In 2026, the financial advisor salary in Troy is projected at a median of $91,571, reflecting a notable difference compared to the national median of $108,537. This gap can be attributed to the structural divide between commission-based wirehouses and fiduciary RIA practices prevalent in the area. Financial advisors operating on an assets under management (AUM) model typically earn higher compensation than their commission-based counterparts at wirehouses. The local salary range extends from $53,112 at the 10th percentile to $141,935 at the 90th percentile, illustrating significant variability based on experience, client base, and advisory structure. Estimates derived from 2025 BLS data and regional cost adjustments indicate that while Troy's compensation landscape for financial advisors remains competitive, it is slightly less than national averages, which reflects local market conditions.
About the Troy Market
Salary estimated from Michigan average ($98,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $53,112 | $25.54 |
| Lower Range (P25) | $65,931 | $31.70 |
| Median (P50)(typical) | $91,571 | $44.03 |
| Upper Range (P75) | $117,211 | $56.35 |
| Top Earners (P90) | $141,935 | $68.24 |
Median Salary Position
15.63% below the national average
2026 Salary Percentile Distribution in Troy
In Troy, MI, the financial advisor salary spread from the 10th to 90th percentile is $88,823 (2026 est.). At $91,571, the local median is 15.63% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Troy: You'd be in the lower-middle range
How Troy Financial Advisor Pay Compares
Troy median: $91,571/year (2026)
| Compared To | Median Salary | Troy Pays |
|---|---|---|
| Michigan Average | $91,025 | +0.60% more |
| National Average | $108,537 | -15.63% less |
Financial Advisors in Troy, MI earn a median of $91,571 per year (2026 est.), which is 15.63% lower than the national median of $108,537 and 0.60% above the Michigan state average of $91,025.
Cost-of-Living Adjusted Salary
Troy 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.
Troy, MI has a cost-of-living index of 93.2 (below the national average of 100). A financial advisor earning $91,571 nominally has purchasing power equivalent to $98,252 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$74,118
2025 BLS Actual
$88,646
2026 Current Est.
$91,571
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Troy (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $74,118 | Actual |
| 2020 | $75,366 | Actual |
| 2021 | $79,450 | Actual |
| 2022 | $80,479 | Actual |
| 2023 | $84,014 | Actual |
| 2024 | $91,902 | Actual |
| 2025 | $88,646 | Actual |
| 2026(current) | $91,571 | Estimated |
| 2027 | $94,593 | Projected |
Based on 7 years of BLS OEWS data for the Troy metropolitan area, the median financial advisor salary grew 19.6% from $74,118 (2019) to $88,646 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $94,593 by 2027 — a total increase of $20,475 (27.62%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Troy 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) | $53,112 – $65,931 |
| 3-5 years (Mid Career) | $65,931 – $91,571 |
| 5+ years (Experienced) | $91,571 – $117,211 |
| 10+ years (Top Earner) | $117,211 – $141,935 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Troy
The job market for financial advisors in Troy comprises about 20 professionals, a modest figure given the city's economic profile and potential for growth. With a cost-of-living index at 93.2, living expenses in Troy are lower than the national average, which contributes to a favorable take-home purchasing power relative to earned salaries. Among local employers, established wirehouses such as Merrill Lynch and UBS tend to offer the highest salaries, but independent broker-dealers and RIAs also represent strong opportunities, especially as RIAs increasingly adopt fiduciary models that prioritize fee transparency. Factors influencing the compensation range include the advisor's AUM book size, their fee structure, and any premium derived from credentials like CFP or CFA designations. To maximize financial advisor pay in Troy, professionals should focus on building a robust AUM portfolio, enhancing their qualifications, and possibly transitioning from a commission-based to a fee-only model to take advantage of the growing RIA sector.
More salary data for Troy, 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 $88,646 for financial advisorsin the Troy 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 Troy 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