Financial Advisor Salary in Lackawanna, NY: $119,185 (2026)
Quick Answer:A full-time financial advisor in Lackawanna, NY earns a median $119,185/year (≈ $57.30/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Lackawanna's price level (16% above national, BEA RPP 115.9), that paycheck buys what $102,834 would nationally. Nominal pay sits 6.4% below the New York state average.
Based on BLS state-level estimates · View source
In 2026, financial advisors in Lackawanna, NY are projected to earn a median annual salary of $119,185, reflecting a competitive edge of 9.81% over the national median of $108,537. The salary range spans from $69,127 at the 10th percentile to $184,738 at the 90th percentile, indicating a range of earnings that can vary significantly based on experience, client base, and business model. These figures, derived from BLS state-level data and adjusted for regional cost factors, emphasize a growing demand for financial advisory services in the area. With the local job market exhibiting only five employed financial advisors, those considering a move into this profession may find unique opportunities in a market that can often reward specialization and independence.
About the Lackawanna Market
Salary estimated from New York average ($168,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $69,127 | $33.23 |
| Lower Range (P25) | $87,214 | $41.93 |
| Median (P50)(typical) | $119,185 | $57.30 |
| Upper Range (P75) | $152,558 | $73.34 |
| Top Earners (P90) | $184,738 | $88.82 |
Median Salary Position
9.81% above the national average
2026 Salary Percentile Distribution in Lackawanna
In Lackawanna, NY, the financial advisor salary spread from the 10th to 90th percentile is $115,611 (2026 est.). At $119,185, the local median is 9.81% above the national median of $108,537.
Salary Calculator
At 40 hours/week in Lackawanna: You'd be in the lower-middle range
How Lackawanna Financial Advisor Pay Compares
Lackawanna median: $119,185/year (2026)
| Compared To | Median Salary | Lackawanna Pays |
|---|---|---|
| New York Average | $127,335 | -6.40% less |
| National Average | $108,537 | +9.81% more |
Financial Advisors in Lackawanna, NY earn a median of $119,185 per year (2026 est.), which is 9.81% higher than the national median of $108,537 and 6.40% below the New York state average of $127,335.
Cost-of-Living Adjusted Salary
Lackawanna has a cost of living 15.90% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Lackawanna, NY has a cost-of-living index of 115.9 (above the national average of 100). While the nominal salary of $119,185 is competitive, the higher cost of living reduces purchasing power to an effective $102,834 — a 13.72% reduction.
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2019 BLS Actual
$96,469
2025 BLS Actual
$115,378
2026 Current Est.
$119,185
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Lackawanna (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $96,469 | Actual |
| 2020 | $98,094 | Actual |
| 2021 | $103,409 | Actual |
| 2022 | $104,748 | Actual |
| 2023 | $109,349 | Actual |
| 2024 | $182,231 | Actual |
| 2025 | $115,378 | Actual |
| 2026(current) | $119,185 | Estimated |
| 2027 | $123,119 | Projected |
Based on 7 years of BLS OEWS data for the Lackawanna metropolitan area, the median financial advisor salary grew 19.6% from $96,469 (2019) to $115,378 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $123,119 by 2027 — a total increase of $26,650 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Lackawanna 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) | $69,127 – $87,214 |
| 3-5 years (Mid Career) | $87,214 – $119,185 |
| 5+ years (Experienced) | $119,185 – $152,558 |
| 10+ years (Top Earner) | $152,558 – $184,738 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Lackawanna
The cost of living index in Lackawanna stands at 115.9, which means while salaries are relatively higher, the purchasing power may be affected. For financial advisors, this local economic context can influence how much do financial advisors make in Lackawanna when compared to national trends. Most competitive compensation is likely found with larger firms like Morgan Stanley or UBS, where advisors can leverage substantial assets under management to secure better pay. The divergence in salaries can largely be attributed to factors such as client portfolios, fee structures favoring fiduciary models, and the potential for breakaway packages for advisors leaving wirehouses. To maximize financial advisor pay in Lackawanna, developing a niche in fee-only advising or pursuing additional certifications like CFP or CFA could enhance credibility and attract higher-net-worth clients, further elevating earning potential.
More salary data for Lackawanna, NY:
Frequently Asked Questions
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Can financial advisors make $100K in Lackawanna?
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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 $115,378 for financial advisorsin the Lackawanna 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 Lackawanna 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