Financial Advisor Salary in Prior Lake, MN: $83,289 (2026)
Quick Answer:A full-time financial advisor in Prior Lake, MN earns a median $83,289/year (≈ $40.04/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Prior Lake's price level (1% below national, BEA RPP 98.5), that paycheck buys what $84,557 would nationally. Nominal pay sits 2.1% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, financial advisors in Prior Lake, Minnesota, can expect a median annual salary of $83,289, which is significantly lower than the national median of $108,537. The salary spectrum shows a wide range, with entry-level positions starting around $48,307 and experienced advisors potentially earning as much as $129,097. These projections are based on 2025 BLS data, adjusted for regional cost fluctuations, reflecting the ongoing transition toward independent advisory roles and the financial rewards they can offer over time. The Prior Lake job market, despite its smaller pool of only seven financial advisors, provides opportunities for individuals to build a career characterized by potential growth and independence.
About the Prior Lake Market
Salary estimated from Minnesota average ($108,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $48,307 | $23.22 |
| Lower Range (P25) | $59,968 | $28.83 |
| Median (P50)(typical) | $83,289 | $40.04 |
| Upper Range (P75) | $106,610 | $51.26 |
| Top Earners (P90) | $129,097 | $62.06 |
Median Salary Position
23.26% below the national average
2026 Salary Percentile Distribution in Prior Lake
In Prior Lake, MN, the financial advisor salary spread from the 10th to 90th percentile is $80,790 (2026 est.). At $83,289, the local median is 23.26% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Prior Lake: You'd be in the lower-middle range
How Prior Lake Financial Advisor Pay Compares
Prior Lake median: $83,289/year (2026)
| Compared To | Median Salary | Prior Lake Pays |
|---|---|---|
| Minnesota Average | $85,075 | -2.10% less |
| National Average | $108,537 | -23.26% less |
Financial Advisors in Prior Lake, MN earn a median of $83,289 per year (2026 est.), which is 23.26% lower than the national median of $108,537 and 2.10% below the Minnesota state average of $85,075.
Cost-of-Living Adjusted Salary
Prior Lake 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.
Prior Lake, MN has a cost-of-living index of 98.5 (below the national average of 100). A financial advisor earning $83,289 nominally has purchasing power equivalent to $84,557 in an average-cost city — an effective 1.52% boost.
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2019 BLS Actual
$67,414
2025 BLS Actual
$80,628
2026 Current Est.
$83,289
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Prior Lake (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $67,414 | Actual |
| 2020 | $68,550 | Actual |
| 2021 | $72,264 | Actual |
| 2022 | $73,200 | Actual |
| 2023 | $76,415 | Actual |
| 2024 | $104,117 | Actual |
| 2025 | $80,628 | Actual |
| 2026(current) | $83,289 | Estimated |
| 2027 | $86,037 | Projected |
Based on 7 years of BLS OEWS data for the Prior Lake metropolitan area, the median financial advisor salary grew 19.6% from $67,414 (2019) to $80,628 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $86,037 by 2027 — a total increase of $18,623 (27.62%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Prior Lake 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) | $48,307 – $59,968 |
| 3-5 years (Mid Career) | $59,968 – $83,289 |
| 5+ years (Experienced) | $83,289 – $106,610 |
| 10+ years (Top Earner) | $106,610 – $129,097 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Prior Lake
The local job market dynamics reveal a cost-of-living index of 98.5, slightly below the national average, which influences take-home purchasing power for financial advisors in the area. Most competitive compensation is likely offered by larger firms such as Wells Fargo Advisors and Morgan Stanley, particularly benefitting those managing substantial assets. However, independent advisors at RIAs also have room to thrive by charging fees based on assets under management, typically around 1%. High-net-worth client concentration often drives higher earnings, especially for those holding CFP or CFA credentials, as these designations command a premium. To enhance their financial advisor pay in Prior Lake MN, professionals should consider specializing within their niches, cultivating unique client relationships, and exploring breakaway transition packages that can offer immediate financial incentives when moving into an independent role.
More salary data for Prior Lake, 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 $80,628 for financial advisorsin the Prior Lake 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 Prior Lake 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