Where you live matters, especially when it comes to financial advisor compensation. In WealthManagement.com’s Annual Compensation Survey, advisors’ earned an average of more than $230,000 in annual take-home pay last year.
But total compensation varied dramatically depending on where advisors were located. Advisors living in the lowest-paying regions earned less than $175,000 on average—compared to the highest-paying region where they earned $280,000 on average.
Compensation isn’t the only factor when determining the best place to work. The cost of living also plays into advisors’ bottom line. Using 2013 data compiled by the Council for Community and Economic Research, we’ve compared each region based on the average cost-of-living index ranking (on a scale of 100, which represents the national average).
Now see which regions landed at the bottom and top of our list this year. Perhaps it will inspire you to think twice about where you live.