How to Become a Personal Financial Advisors in Illinois
Personal Financial Advisors in Illinois earn a median salary of $120,130/year, which is 14% above the national average. Illinois has a state income tax of ~4.9%. After taxes and rent, a personal financial advisors takes home approximately $6,032/month. Most positions require Bachelor's degree.
What a personal financial advisors can afford in Illinois
Becoming a personal financial advisors in Illinois
Meet education requirements
Personal Financial Advisors positions in Illinois typically require Bachelor's degree. Programs are available at colleges and training institutions across Illinois. Research accredited programs in your area.
Gain required experience
Many personal financial advisors positions in Illinois require hands-on experience through internships, apprenticeships, or entry-level roles. Look for training programs and mentorship opportunities in your metro area.
Obtain Illinois licensure or certification
Illinois may require specific licensing or professional certification for personal financial advisorss. Requirements vary by state, contact the Illinois Department of Labor or relevant licensing board for current requirements, exam schedules, and application procedures.
Find positions in Illinois
Illinois employs 9,760 personal financial advisors. The highest concentrations are in Springfield and Bloomington.
Personal Financial Advisors salary by metro area in Illinois
| Metro area | Median | Hourly | Employment |
|---|---|---|---|
| Springfield | $154K | $74.22/hr | 100 |
| Bloomington | $141K | $67.82/hr | 60 |
| Chicago-Naperville-Elgin | $113K | $54.43/hr | 8,370 |
| Champaign-Urbana | $112K | $53.63/hr | 80 |
| Rockford | $111K | $53.3/hr | 90 |
| Peoria | $109K | $52.37/hr | 200 |
Personal Financial Advisors salary range in Illinois
Personal Financial Advisors careers in other states
Frequently asked questions
How much does a personal financial advisors make in Illinois?▼
The median personal financial advisors salary in Illinois is $120,130 per year ($57.75/hr). This is 14% above the national median of $105,070. Salaries range from $51,820 to $328,650.
What are the requirements to become a personal financial advisors in Illinois?▼
Personal Financial Advisors positions in Illinois typically require Bachelor's degree. Illinois may have specific licensing or certification requirements. Check with the Illinois licensing board or department of labor for current requirements.
Can a personal financial advisors afford to live in Illinois?▼
At the median salary of $120,130, a personal financial advisors in Illinois would take home approximately $7,243/month after taxes. With median 2-bedroom rent at $1,211/month, that's 16.7% of take-home pay going to housing. This is within the recommended 30% guideline.
What are the best cities for personal financial advisors in Illinois?▼
The highest paying metro areas for personal financial advisors in Illinois are Springfield ($154,370), Bloomington ($141,070), Chicago-Naperville-Elgin ($113,210). However, cost of living varies significantly between metros, a higher salary may not mean more purchasing power.
Does Illinois have state income tax for personal financial advisors?▼
Yes, Illinois has a state income tax rate of approximately 4.9%. On a $120,130 salary, this means roughly $5,946/year in state income tax. Use our take-home pay calculator for a detailed breakdown.