With the COVID-19 vaccine rollout well under way, many office workers are beginning to consider where they want to live and work as their priorities shift. For advisors, one factor in their decision might be the amount they’re likely to get paid, on average, in a new city.
A study from SmartAsset identifies the top 20 metro areas for advisor pay among the 50 largest cities in the U.S. The study looks at advisors’ average earnings, the two-year change in their pay, advisor pay relative to a metro area’s average, and how much housing costs as a percentage of their total earnings.
While advisors nationwide earn an average $122,490, in the two leading cities in this ranking they typically bring in just north of $160,000. The leaders here also rank favorably in the other metrics, making them attractive places to practice, the study found.
As Americans consider moving out of the country’s biggest cities and into smaller towns or more rural areas, it’s worth noting that the top of the list is almost entirely second- and third-tier metro areas, by population and size. Chicago and New York City are the outliers.
Here’s how the cities on the list stack up.