How to Become a Personal Financial Advisors in Michigan
Personal Financial Advisors in Michigan earn a median salary of $77,930/year, which is 26% below the national average. Michigan has a state income tax of ~4.2%. After taxes and rent, a personal financial advisors takes home approximately $3,470/month. Most positions require Bachelor's degree.
What a personal financial advisors can afford in Michigan
Becoming a personal financial advisors in Michigan
Meet education requirements
Personal Financial Advisors positions in Michigan typically require Bachelor's degree. Programs are available at colleges and training institutions across Michigan. Research accredited programs in your area.
Gain required experience
Many personal financial advisors positions in Michigan require hands-on experience through internships, apprenticeships, or entry-level roles. Look for training programs and mentorship opportunities in your metro area.
Obtain Michigan licensure or certification
Michigan may require specific licensing or professional certification for personal financial advisorss. Requirements vary by state, contact the Michigan Department of Labor or relevant licensing board for current requirements, exam schedules, and application procedures.
Find positions in Michigan
Michigan employs 6,570 personal financial advisors. The highest concentrations are in Muskegon-Norton Shores and Jackson.
Personal Financial Advisors salary by metro area in Michigan
| Metro area | Median | Hourly | Employment |
|---|---|---|---|
| Muskegon-Norton Shores | $160K | $76.92/hr | 100 |
| Jackson | $112K | $53.84/hr | 40 |
| Monroe | $98K | $47.16/hr | 70 |
| Flint | $96K | $46.22/hr | 160 |
| Ann Arbor | $96K | $46.08/hr | 320 |
| Grand Rapids-Wyoming-Kentwood | $89K | $42.99/hr | 840 |
| Traverse City | $88K | $42.36/hr | 130 |
| Lansing-East Lansing | $86K | $41.45/hr | 210 |
| Niles | $83K | $39.8/hr | 60 |
| Kalamazoo-Portage | $78K | $37.45/hr | 230 |
| Detroit-Warren-Dearborn | $77K | $36.94/hr | 3,430 |
| Saginaw | $72K | $34.4/hr | 110 |
| Battle Creek | $54K | $26.19/hr | 30 |
Personal Financial Advisors salary range in Michigan
Personal Financial Advisors careers in other states
Frequently asked questions
How much does a personal financial advisors make in Michigan?▼
The median personal financial advisors salary in Michigan is $77,930 per year ($37.47/hr). This is 26% below the national median of $105,070. Salaries range from $44,780 to $288,860.
What are the requirements to become a personal financial advisors in Michigan?▼
Personal Financial Advisors positions in Michigan typically require Bachelor's degree. Michigan may have specific licensing or certification requirements. Check with the Michigan licensing board or department of labor for current requirements.
Can a personal financial advisors afford to live in Michigan?▼
At the median salary of $77,930, a personal financial advisors in Michigan would take home approximately $4,991/month after taxes. With median 2-bedroom rent at $1,521/month, that's 30.5% of take-home pay going to housing. This exceeds the recommended 30% guideline.
What are the best cities for personal financial advisors in Michigan?▼
The highest paying metro areas for personal financial advisors in Michigan are Muskegon-Norton Shores ($159,990), Jackson ($111,990), Monroe ($98,090). However, cost of living varies significantly between metros, a higher salary may not mean more purchasing power.
Does Michigan have state income tax for personal financial advisors?▼
Yes, Michigan has a state income tax rate of approximately 4.2%. On a $77,930 salary, this means roughly $3,312/year in state income tax. Use our take-home pay calculator for a detailed breakdown.