Financial Advisor Salary in Duluth, MN: $83,136 (2026)
Quick Answer:A full-time financial advisor in Duluth, MN earns a median $83,136/year (≈ $39.97/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Duluth's price level (11% below national, BEA RPP 88.8), that paycheck buys what $93,655 would nationally. Nominal pay sits 2.3% below the Minnesota state average.
Official BLS data · View source
In Duluth, Minnesota, financial advisors can expect a median annual salary of $83,136 in 2026, markedly lower than the national median of $108,537. The salary range varies significantly, with the lowest earners making approximately $45,070 and the highest reaching around $336,789. This diverse pay scale reflects a transitioning market, particularly as many advisors explore independent models, which can lead to substantial long-term compensation growth. The data for these projections is sourced from the Bureau of Labor Statistics (BLS) and incorporates trends observed through 2025, which reveal the evolving dynamics of financial advising in Duluth and its impact on long-term earning potential.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $45,070 | $21.67 |
| Lower Range (P25) | $64,779 | $31.14 |
| Median (P50)(typical) | $83,136 | $39.97 |
| Upper Range (P75) | $160,208 | $77.02 |
| Top Earners (P90) | $336,789 | $161.92 |
Median Salary Position
23.4% below the national average
2026 Salary Percentile Distribution in Duluth
In Duluth, MN, the financial advisor salary spread from the 10th to 90th percentile is $291,719 (2026 est.). At $83,136, the local median is 23.4% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Duluth: You'd be in the entry-level range
How Duluth Financial Advisor Pay Compares
Duluth median: $83,136/year (2026)
| Compared To | Median Salary | Duluth Pays |
|---|---|---|
| Minnesota Average | $85,093 | -2.30% less |
| National Average | $108,537 | -23.40% less |
Financial Advisors in Duluth, MN earn a median of $83,136 per year (2026 est.), which is 23.40% lower than the national median of $108,537 and 2.30% below the Minnesota state average of $85,093.
Cost-of-Living Adjusted Salary
Duluth has a cost of living 11.23% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Duluth, MN has a cost-of-living index of 88.768 (below the national average of 100). A financial advisor earning $83,136 nominally has purchasing power equivalent to $93,655 in an average-cost city — an effective 12.65% boost.
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2019 BLS Actual
$84,220
2025 BLS Actual
$80,480
2026 Current Est.
$83,136
2019–2027 Growth
+2.0%
Salary Trajectory for Financial Advisors in Duluth (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $84,220 | Actual |
| 2020 | $91,850 | Actual |
| 2021 | $76,660 | Actual |
| 2022 | $80,780 | Actual |
| 2023 | $79,720 | Actual |
| 2024 | $80,390 | Actual |
| 2025 | $80,480 | Actual |
| 2026(current) | $83,136 | Estimated |
| 2027 | $85,879 | Projected |
Based on 7 years of BLS OEWS data for the Duluth metropolitan area, the median financial advisor salary grew -4.4% from $84,220 (2019) to $80,480 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $85,879 by 2027 — a total increase of $1,659 (1.97%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Duluth 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) | $45,070 – $64,779 |
| 3-5 years (Mid Career) | $64,779 – $83,136 |
| 5+ years (Experienced) | $83,136 – $160,208 |
| 10+ years (Top Earner) | $160,208 – $336,789 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Duluth
Given the current employment of 110 financial advisors in Duluth, the local job market presents a solid foundation for those pursuing careers in this field. With a cost of living index at 88.768, living expenses are lower than the national average, potentially enhancing take-home purchasing power for advisors. Large institutions such as Morgan Stanley and Merrill Lynch tend to offer higher compensation packages, but opportunities at independent broker-dealers and Registered Investment Advisors (RIAs) also provide lucrative paths—especially as RIAs grow rapidly with their fee-only models. Factors such as the size of assets under management, client demographics, and professional certifications play significant roles in determining salaries. Advisors who can effectively tap into high-net-worth client bases or transition to fee-only structures stand to maximize their compensation in the Duluth market.
More salary data for Duluth, MN:
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 $80,480 for financial advisorsin the Duluth 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