Financial Advisor Salary in Norfolk, VA: $97,911 (2026)
Quick Answer:A full-time financial advisor in Norfolk, VA earns a median $97,911/year (≈ $47.07/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Norfolk's price level (3% above national, BEA RPP 103.2), that paycheck buys what $94,875 would nationally. Nominal pay sits 4.5% above the Virginia state average.
Based on BLS state-level estimates · View source
In Norfolk, Virginia, the projected median annual salary for financial advisors is $97,911 in 2026, which reflects a competitive market position, albeit slightly lower than the national median of $108,537. Compensation for financial advisors in this area spans from $56,788 at the 10th percentile to $151,762 at the 90th percentile. These projections are based on estimates derived from 2025 BLS OEWS data, adjusted for regional price parities. As a growing trend, fee-only fiduciary models are increasingly appealing to clients, which may drive demand for similarly credentialed professionals. Those with the Certified Financial Planner (CFP) designation, in particular, are likely to command higher salaries and attract a more affluent clientele in Norfolk's evolving job market.
About the Norfolk Market
Salary estimated from Virginia average ($118,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $56,788 | $27.30 |
| Lower Range (P25) | $70,496 | $33.89 |
| Median (P50)(typical) | $97,911 | $47.07 |
| Upper Range (P75) | $125,326 | $60.25 |
| Top Earners (P90) | $151,762 | $72.96 |
Median Salary Position
9.79% below the national average
2026 Salary Percentile Distribution in Norfolk
In Norfolk, VA, the financial advisor salary spread from the 10th to 90th percentile is $94,974 (2026 est.). At $97,911, the local median is 9.79% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Norfolk: You'd be in the lower-middle range
How Norfolk Financial Advisor Pay Compares
Norfolk median: $97,911/year (2026)
| Compared To | Median Salary | Norfolk Pays |
|---|---|---|
| Virginia Average | $93,695 | +4.50% more |
| National Average | $108,537 | -9.79% less |
Financial Advisors in Norfolk, VA earn a median of $97,911 per year (2026 est.), which is 9.79% lower than the national median of $108,537 and 4.50% above the Virginia state average of $93,695.
Cost-of-Living Adjusted Salary
Norfolk has a cost of living 3.20% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Norfolk, VA has a cost-of-living index of 103.2 (above the national average of 100). While the nominal salary of $97,911 is competitive, the higher cost of living reduces purchasing power to an effective $94,875 — a 3.1% reduction.
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2019 BLS Actual
$79,249
2025 BLS Actual
$94,783
2026 Current Est.
$97,911
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Norfolk (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $79,249 | Actual |
| 2020 | $80,584 | Actual |
| 2021 | $84,950 | Actual |
| 2022 | $86,051 | Actual |
| 2023 | $89,831 | Actual |
| 2024 | $127,301 | Actual |
| 2025 | $94,783 | Actual |
| 2026(current) | $97,911 | Estimated |
| 2027 | $101,142 | Projected |
Based on 7 years of BLS OEWS data for the Norfolk metropolitan area, the median financial advisor salary grew 19.6% from $79,249 (2019) to $94,783 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $101,142 by 2027 — a total increase of $21,893 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Norfolk 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) | $56,788 – $70,496 |
| 3-5 years (Mid Career) | $70,496 – $97,911 |
| 5+ years (Experienced) | $97,911 – $125,326 |
| 10+ years (Top Earner) | $125,326 – $151,762 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Norfolk
The local job market for financial advisors in Norfolk currently employs 54 professionals, which indicates a niche yet solid community for individuals considering this career path. With a cost of living index of 103.2, advisors need to carefully consider their take-home pay, as it affects their purchasing power in comparison to their peers in other regions. Employers that typically offer higher compensation among financial advisors in Norfolk include wirehouses, such as Morgan Stanley and Merrill Lynch, alongside independent broker-dealers and fee-only RIAs. Significant factors driving the variance in salaries include assets under management (AUM), with fiduciary firms usually compensating advisors based on a percentage of AUM, while traditional brokerages rely more on commissions. To maximize compensation, financial advisors should aim to build a strong AUM base, pursue relevant certifications like the CFP or CFA, and consider transitioning to fiduciary roles that often best serve high-net-worth clients.
More salary data for Norfolk, VA:
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 $94,783 for financial advisorsin the Norfolk 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 Norfolk 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