Financial Advisor Salary in Faribault, MN: $80,386 (2026)
Quick Answer:A full-time financial advisor in Faribault, MN earns a median $80,386/year (≈ $38.64/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Faribault's price level (1% below national, BEA RPP 98.5), that paycheck buys what $81,610 would nationally. Nominal pay sits 5.5% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, financial advisors in Faribault, Minnesota, can expect a median annual salary of $80,386, significantly lower than the national average of $108,537. The local salary range extends from $46,623 at the tenth percentile to $124,598 for those in the ninetieth percentile. These figures reflect local estimates derived from 2025 BLS data, adjusted for the regional cost of living, which is registered at a cost-of-living index of 98.5, slightly below the national average. The job market for financial advisors here remains concentrated, as only six professionals are currently employed in the area, indicating a niche market that may impact competition and service offerings. The structural divide between wirehouse models, which typically offer commission-based pay, and fiduciary RIAs utilizing an AUM fee structure further shapes the financial advisor pay landscape in Faribault.
About the Faribault Market
Salary estimated from Minnesota average ($108,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $46,623 | $22.42 |
| Lower Range (P25) | $57,878 | $27.83 |
| Median (P50)(typical) | $80,386 | $38.64 |
| Upper Range (P75) | $102,894 | $49.47 |
| Top Earners (P90) | $124,598 | $59.90 |
Median Salary Position
25.94% below the national average
2026 Salary Percentile Distribution in Faribault
In Faribault, MN, the financial advisor salary spread from the 10th to 90th percentile is $77,975 (2026 est.). At $80,386, the local median is 25.94% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Faribault: You'd be in the lower-middle range
How Faribault Financial Advisor Pay Compares
Faribault median: $80,386/year (2026)
| Compared To | Median Salary | Faribault Pays |
|---|---|---|
| Minnesota Average | $85,065 | -5.50% less |
| National Average | $108,537 | -25.94% less |
Financial Advisors in Faribault, MN earn a median of $80,386 per year (2026 est.), which is 25.94% lower than the national median of $108,537 and 5.50% below the Minnesota state average of $85,065.
Cost-of-Living Adjusted Salary
Faribault has a cost of living 1.50% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Faribault, MN has a cost-of-living index of 98.5 (below the national average of 100). A financial advisor earning $80,386 nominally has purchasing power equivalent to $81,610 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$65,064
2025 BLS Actual
$77,818
2026 Current Est.
$80,386
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Faribault (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $65,064 | Actual |
| 2020 | $66,160 | Actual |
| 2021 | $69,745 | Actual |
| 2022 | $70,649 | Actual |
| 2023 | $73,752 | Actual |
| 2024 | $100,489 | Actual |
| 2025 | $77,818 | Actual |
| 2026(current) | $80,386 | Estimated |
| 2027 | $83,039 | Projected |
Based on 7 years of BLS OEWS data for the Faribault metropolitan area, the median financial advisor salary grew 19.6% from $65,064 (2019) to $77,818 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $83,039 by 2027 — a total increase of $17,975 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Faribault 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) | $46,623 – $57,878 |
| 3-5 years (Mid Career) | $57,878 – $80,386 |
| 5+ years (Experienced) | $80,386 – $102,894 |
| 10+ years (Top Earner) | $102,894 – $124,598 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Faribault
The small pool of financial advisors in Faribault speaks to both a growing demand and the challenges of the local job market. With a significant portion of financial advisors operating as independent broker-dealers or fiduciary RIAs, the compensation dynamics hinge on factors such as assets under management, client concentration, and credentials like CFP or CFA, which can elevate earning potential. For instance, advisors focusing on high-net-worth clients often find better pay structures due to higher fees on larger AUM bases. Additionally, firms like Northwestern Mutual and Edward Jones may provide more attractive packages that emphasize commissions, whereas RIAs often depend on consistent AUM percentage fees. To maximize earnings in this competitive market, financial advisors should consider cultivating a strong client base while emphasizing fiduciary responsibilities that may attract clients seeking reliable financial guidance.
More salary data for Faribault, 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 $77,818 for financial advisorsin the Faribault 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 Faribault 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