Financial Advisor Salary in Shakopee, MN: $82,423 (2026)
Quick Answer:A full-time financial advisor in Shakopee, MN earns a median $82,423/year (≈ $39.63/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Shakopee's price level (1% below national, BEA RPP 98.5), that paycheck buys what $83,678 would nationally. Nominal pay sits 3.1% below the Minnesota state average.
Based on BLS state-level estimates · View source
In 2026, financial advisors in Shakopee, MN are projected to earn a median annual salary of $82,423. When considering the full salary range, local advisors can expect to see incomes fluctuating from as low as $47,805 at the 10th percentile to as high as $127,756 at the 90th percentile. These figures are derived from state-level estimates based on 2025 BLS data, adjusted for regional cost variations. Compared to the national median salary for financial advisors, which stands at $108,537, Shakopee’s averages indicate a significant difference, emphasizing the lower compensation landscape within this market. This disparity provides insight into the local financial advisory environment, highlighting how factors like cost of living and market dynamics influence earning potential.
About the Shakopee Market
Salary estimated from Minnesota average ($108,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $47,805 | $22.98 |
| Lower Range (P25) | $59,663 | $28.69 |
| Median (P50)(typical) | $82,423 | $39.63 |
| Upper Range (P75) | $105,501 | $50.72 |
| Top Earners (P90) | $127,756 | $61.42 |
Median Salary Position
24.06% below the national average
2026 Salary Percentile Distribution in Shakopee
In Shakopee, MN, the financial advisor salary spread from the 10th to 90th percentile is $79,951 (2026 est.). At $82,423, the local median is 24.06% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Shakopee: You'd be in the lower-middle range
How Shakopee Financial Advisor Pay Compares
Shakopee median: $82,423/year (2026)
| Compared To | Median Salary | Shakopee Pays |
|---|---|---|
| Minnesota Average | $85,060 | -3.10% less |
| National Average | $108,537 | -24.06% less |
Financial Advisors in Shakopee, MN earn a median of $82,423 per year (2026 est.), which is 24.06% lower than the national median of $108,537 and 3.10% below the Minnesota state average of $85,060.
Cost-of-Living Adjusted Salary
Shakopee 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.
Shakopee, MN has a cost-of-living index of 98.5 (below the national average of 100). A financial advisor earning $82,423 nominally has purchasing power equivalent to $83,678 in an average-cost city — an effective 1.52% boost.
Compare Purchasing Power
Select a city to see how your salary compares after cost of living
Select a city above to compare purchasing power
2019 BLS Actual
$66,713
2025 BLS Actual
$79,790
2026 Current Est.
$82,423
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Shakopee (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $66,713 | Actual |
| 2020 | $67,837 | Actual |
| 2021 | $71,513 | Actual |
| 2022 | $72,439 | Actual |
| 2023 | $75,621 | Actual |
| 2024 | $103,036 | Actual |
| 2025 | $79,790 | Actual |
| 2026(current) | $82,423 | Estimated |
| 2027 | $85,143 | Projected |
Based on 7 years of BLS OEWS data for the Shakopee metropolitan area, the median financial advisor salary grew 19.6% from $66,713 (2019) to $79,790 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $85,143 by 2027 — a total increase of $18,430 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Shakopee 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) | $47,805 – $59,663 |
| 3-5 years (Mid Career) | $59,663 – $82,423 |
| 5+ years (Experienced) | $82,423 – $105,501 |
| 10+ years (Top Earner) | $105,501 – $127,756 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Shakopee
The job market in Shakopee currently employs 11 financial advisors, a number that reflects the community’s niche and growing interest in financial planning services. With a cost of living index of 98.5, residents can enjoy a more favorable purchasing power relative to national averages, which can enhance overall quality of life, albeit within a framework of typically lower financial advisor pay in Shakopee, MN. Major employers in the area predominantly include wirehouses and independent firms like Morgan Stanley, LPL Financial, and Northwestern Mutual, with compensation often influenced by established assets under management (AUM) and various fee models. This creates a wide salary disparity, with factors such as credentialing—specifically, possessing a CFP or CFA—contributing to higher earnings potential. For financial advisors seeking to increase their compensation in Shakopee, focusing on developing a robust client base, transitioning to a fiduciary model, and aligning with high-net-worth clients can significantly improve financial outcomes in this competitive environment.
More salary data for Shakopee, MN:
Frequently Asked Questions
How much do financial advisors make in Shakopee, MN in 2026?
Is Shakopee, MN a good place to work as a financial advisor?
Can financial advisors make $100K in Shakopee?
What is the cost-of-living adjusted financial advisor salary in Shakopee?
How much does a financial advisor make per hour in Shakopee?
Related Pages
Compare Salaries
Career Resources
Nearby Cities in Minnesota
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 $79,790 for financial advisorsin the Shakopee 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 Shakopee 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