How to Become a Personal Financial Advisors in Maryland
Personal Financial Advisors in Maryland earn a median salary of $99,880/year, which is 5% below the national average. Maryland has a state income tax of ~4.6%. After taxes and rent, a personal financial advisors takes home approximately $3,068/month. Most positions require Bachelor's degree.
What a personal financial advisors can afford in Maryland
Becoming a personal financial advisors in Maryland
Meet education requirements
Personal Financial Advisors positions in Maryland typically require Bachelor's degree. Programs are available at colleges and training institutions across Maryland. Research accredited programs in your area.
Gain required experience
Many personal financial advisors positions in Maryland require hands-on experience through internships, apprenticeships, or entry-level roles. Look for training programs and mentorship opportunities in your metro area.
Obtain Maryland licensure or certification
Maryland may require specific licensing or professional certification for personal financial advisorss. Requirements vary by state, contact the Maryland Department of Labor or relevant licensing board for current requirements, exam schedules, and application procedures.
Find positions in Maryland
Maryland employs 5,260 personal financial advisors. The highest concentrations are in Baltimore-Columbia-Towson and Hagerstown-Martinsburg.
Personal Financial Advisors salary by metro area in Maryland
| Metro area | Median | Hourly | Employment |
|---|---|---|---|
| Baltimore-Columbia-Towson | $99K | $47.58/hr | 3,240 |
| Hagerstown-Martinsburg | $92K | $44.41/hr | 60 |
| Salisbury | $89K | $42.83/hr | 40 |
Personal Financial Advisors salary range in Maryland
Personal Financial Advisors careers in other states
Frequently asked questions
How much does a personal financial advisors make in Maryland?▼
The median personal financial advisors salary in Maryland is $99,880 per year ($48.02/hr). This is 5% below the national median of $105,070. Salaries range from $47,810 to $378,060.
What are the requirements to become a personal financial advisors in Maryland?▼
Personal Financial Advisors positions in Maryland typically require Bachelor's degree. Maryland may have specific licensing or certification requirements. Check with the Maryland licensing board or department of labor for current requirements.
Can a personal financial advisors afford to live in Maryland?▼
At the median salary of $99,880, a personal financial advisors in Maryland would take home approximately $6,173/month after taxes. With median 2-bedroom rent at $3,105/month, that's 50.3% of take-home pay going to housing. This exceeds the recommended 30% guideline.
What are the best cities for personal financial advisors in Maryland?▼
The highest paying metro areas for personal financial advisors in Maryland are Baltimore-Columbia-Towson ($98,970), Hagerstown-Martinsburg ($92,370), Salisbury ($89,090). However, cost of living varies significantly between metros, a higher salary may not mean more purchasing power.
Does Maryland have state income tax for personal financial advisors?▼
Yes, Maryland has a state income tax rate of approximately 4.6%. On a $99,880 salary, this means roughly $4,571/year in state income tax. Use our take-home pay calculator for a detailed breakdown.