How much does a Financial Advisor make in Detroit, MI?
Financial Advisors in Detroit, Michigan, enjoy a rewarding career with a competitive salary. On average, they make about $84,754 per year. This figure can vary based on experience and the specific financial services they offer. Many advisors start with a lower salary and see their earnings grow as they gain more clients and expertise.
The salary range for Financial Advisors in Detroit spans from around $44,350 to over $125,000 annually. This range reflects the diverse opportunities available in the field. Advisors who work for larger firms or manage high-net-worth clients often earn more. Those who specialize in areas like retirement planning or estate planning may also see higher earnings. The potential for bonuses and commissions adds to the overall income for many advisors.
What are the highest paying cities for a Financial Advisor near Detroit, MI?
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Farmington Hills, MI
Average Salary: $103,735
In Farmington Hills, financial professionals thrive in a community that values financial stability. Many work for prominent firms like Fidelity Investments and PricewaterhouseCoopers. The area offers a mix of corporate and independent opportunities.
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Troy, MI
Average Salary: $101,983
Troy provides a dynamic environment for financial experts. Companies like JPMorgan Chase and Bank of America offer diverse roles. The city's strong economy supports a variety of financial services.
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Cleveland, OH
Average Salary: $97,304
Cleveland is a hub for financial advisors. Key employers include KeyBank and Progressive. The city offers a blend of urban and suburban settings, making it a versatile place to work.
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Birmingham, MI
Average Salary: $96,975
Birmingham boasts a thriving financial sector. Advisors often find roles with firms like Merrill Lynch and UBS. The area is known for its affluent clientele and high demand for financial services.
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Southfield, MI
Average Salary: $87,192
Southfield is a prime location for financial careers. Companies such as Comerica Bank and Fifth Third Bank are prominent here. The city offers a mix of corporate and boutique firms.
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Grand Rapids, MI
Average Salary: $81,454
Grand Rapids offers a growing market for financial advisors. Employers like Vanguard and Fidelity are present. The city's economy is diverse, providing many opportunities in the financial sector.
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Toledo, OH
Average Salary: $76,111
Toledo provides a stable environment for financial advisors. Key employers include Huntington Bank and Fifth Third Bank. The city offers a mix of traditional and modern financial services.
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Ann Arbor, MI
Average Salary: $75,492
Ann Arbor is a vibrant city for financial professionals. Companies like Charles Schwab and Edward Jones are active here. The area is known for its strong educational institutions and innovative companies.
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Sterling Heights, MI
Average Salary: $74,434
Sterling Heights offers a range of opportunities for financial advisors. Firms like PNC Bank and TD Ameritrade are present. The city provides a mix of urban and suburban settings.
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Novi, MI
Average Salary: $74,393
Novi is a growing market for financial advisors. Companies like Fidelity Investments and PricewaterhouseCoopers are key employers. The city offers a mix of corporate and independent opportunities.
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What are the best paying companies for a Financial Advisor in Detroit, MI?
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Deloitte
Average Salary: $96,683
Deloitte offers rewarding Financial Advisor positions in Detroit, MI. They focus on providing comprehensive financial planning and investment services. Deloitte operates globally, with offices in many major cities.
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Bankers Life
Average Salary: $52,167
Bankers Life provides Financial Advisor roles in Detroit, MI. They specialize in life insurance and retirement planning. Bankers Life is part of CNO Financial Group and has offices across the United States.
What are the best paying Financial Advisor related jobs in Detroit, MI?
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Investment Banker
Average Salary: $153,743
This role involves helping companies raise capital. They work with firms to issue stock and bonds. Investment bankers often work with local businesses. They need strong analytical skills. Investment bankers in Detroit work for firms like JPMorgan Chase and Bank of America.
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Risk Management Manager
Average Salary: $152,185
This position focuses on identifying and managing risks. They develop strategies to protect companies from financial losses. Risk managers work with insurance companies and financial institutions. In Detroit, they often collaborate with firms like Allstate and Fidelity Investments.
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Wealth Management Advisor
Average Salary: $150,088
These professionals help clients manage their wealth. They provide advice on investments, retirement, and estate planning. Wealth management advisors work with high-net-worth individuals. In Detroit, they often work for firms like Edward Jones and UBS.
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Underwriting Manager
Average Salary: $142,433
This role involves assessing risks for insurance companies. They decide which clients to insure and how much to charge. Underwriting managers work with insurance firms. In Detroit, they often work for companies like Farmers Insurance and Progressive.
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Portfolio Manager
Average Salary: $118,100
Portfolio managers oversee investment portfolios. They make decisions to maximize returns. They work with mutual funds and pension funds. In Detroit, they often work for firms like Vanguard and Fidelity.
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Acquisitions Specialist
Average Salary: $110,050
This role focuses on mergers and acquisitions. They help companies buy or sell other firms. Acquisitions specialists work with investment banks. In Detroit, they often work for firms like Goldman Sachs and Morgan Stanley.
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Risk Specialist
Average Salary: $102,726
Risk specialists analyze potential risks. They develop plans to mitigate these risks. They work with insurance and financial firms. In Detroit, they often work for companies like Allstate and Liberty Mutual.
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Loss Control Consultant
Average Salary: $98,412
These consultants help companies reduce losses. They provide advice on safety and risk management. They work with insurance companies. In Detroit, they often work for firms like State Farm and Nationwide.
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Analyst
Average Salary: $84,552
Analysts gather and interpret data. They provide insights to help companies make decisions. They work in various industries. In Detroit, they often work for firms like General Motors and Ford.
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Risk Analyst
Average Salary: $74,783
Risk analysts assess financial risks. They provide reports to help companies manage risks. They work with financial institutions. In Detroit, they often work for firms like Comerica Bank and Fifth Third Bank.
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