Financial Advisor Salary in Andover, MA: $123,756 (2026)
Quick Answer:A full-time financial advisor in Andover, MA earns a median $123,756/year (≈ $59.50/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Andover's price level (9% above national, BEA RPP 108.5), that paycheck buys what $114,061 would nationally. Nominal pay sits 5.3% below the Massachusetts state average.
Based on BLS state-level estimates · View source
In Andover, Massachusetts, financial advisors can expect a median annual salary of $123,756 in 2026, reflecting a competitive position in the marketplace when compared to the national median of $108,537. The salary range for these professionals in the area runs from $71,779 at the 10th percentile to $191,823 at the 90th percentile, indicating a significant variance based on experience level and client portfolio size. These figures are derived from 2025 BLS data, projected to 2026, with considerations for the regional cost of living adjustments that characterize Andover’s economic landscape. With a small but dedicated group of financial advisors working locally, opportunities for financial professionals to carve out lucrative niches are present within this market.
About the Andover Market
Salary estimated from Massachusetts average ($152,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $71,779 | $34.51 |
| Lower Range (P25) | $89,105 | $42.84 |
| Median (P50)(typical) | $123,756 | $59.50 |
| Upper Range (P75) | $158,408 | $76.15 |
| Top Earners (P90) | $191,823 | $92.23 |
Median Salary Position
14.02% above the national average
2026 Salary Percentile Distribution in Andover
In Andover, MA, the financial advisor salary spread from the 10th to 90th percentile is $120,044 (2026 est.). At $123,756, the local median is 14.02% above the national median of $108,537.
Salary Calculator
At 40 hours/week in Andover: You'd be in the lower-middle range
How Andover Financial Advisor Pay Compares
Andover median: $123,756/year (2026)
| Compared To | Median Salary | Andover Pays |
|---|---|---|
| Massachusetts Average | $130,683 | -5.30% less |
| National Average | $108,537 | +14.02% more |
Financial Advisors in Andover, MA earn a median of $123,756 per year (2026 est.), which is 14.02% higher than the national median of $108,537 and 5.30% below the Massachusetts state average of $130,683.
Cost-of-Living Adjusted Salary
Andover has a cost of living 8.50% above the national average.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Andover, MA has a cost-of-living index of 108.5 (above the national average of 100). While the nominal salary of $123,756 is competitive, the higher cost of living reduces purchasing power to an effective $114,061 — a 7.83% reduction.
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2019 BLS Actual
$100,168
2025 BLS Actual
$119,803
2026 Current Est.
$123,756
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Andover (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $100,168 | Actual |
| 2020 | $101,856 | Actual |
| 2021 | $107,375 | Actual |
| 2022 | $108,766 | Actual |
| 2023 | $113,543 | Actual |
| 2024 | $156,152 | Actual |
| 2025 | $119,803 | Actual |
| 2026(current) | $123,756 | Estimated |
| 2027 | $127,840 | Projected |
Based on 7 years of BLS OEWS data for the Andover metropolitan area, the median financial advisor salary grew 19.6% from $100,168 (2019) to $119,803 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $127,840 by 2027 — a total increase of $27,672 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Andover metropolitan area, sourced from annual Occupational Employment and Wage Statistics surveys. 2026–2026 figures are current estimates, and 2027 values are projections, calculated using a 3.30% CAGR derived from 7-year BLS historical data. Actual salaries may vary based on employer, experience, certifications, and local market conditions.
Salary by Experience Level
| Experience | Estimated Salary Range |
|---|---|
| 0-2 years (New Graduate) | $71,779 – $89,105 |
| 3-5 years (Mid Career) | $89,105 – $123,756 |
| 5+ years (Experienced) | $123,756 – $158,408 |
| 10+ years (Top Earner) | $158,408 – $191,823 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Andover
Despite the presence of only five financial advisors in Andover, the local job market remains buoyant, bolstered by a cost-of-living index of 108.5, which slightly exceeds the national average. This translates to a higher demand for competitive salaries, as advisors must consider take-home pay in the context of living costs. The compensation landscape in Andover is nuanced; wirehouses such as Morgan Stanley and Merrill Lynch typically offer higher pay, yet independent practices and RIAs are becoming increasingly competitive, especially as they cater to high-net-worth clients seeking fiduciary advice. The disparity in compensation is often driven by assets under management, fee structures, and the complexity of services offered. Financial advisors in Andover can maximize their earning potential by focusing on relationship-building with affluent clients, obtaining credentials such as the CFP or CFA, and considering the transition from commission-based models to fee-only structures, which are showing a notable trend within the industry.
More salary data for Andover, MA:
Frequently Asked Questions
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Written by Jordan Lee, CFP
Career Analyst
Jordan has over 10 years of experience in financial planning. They specialize in retirement planning for individuals. They work at a financial services firm in New York City.
Methodology & Data Source
Salary figures on this page are 2026 projections based on the Bureau of Labor Statistics Occupational Employment and Wage Statistics (OEWS) survey, May 2026 release. The BLS reported a median annual salary of $119,803 for financial advisorsin the Andover metropolitan area. A 3.30% compound annual growth rate (CAGR), calculated from 6-year national BLS wage trends, was applied to project current 2026 compensation. Percentile ranges (P10–P90) represent the full salary distribution across experience levels and practice settings in this market.
Data Sources & Methodology
Salary data for Andover is estimated from official BLS state-level occupational wage data (2025), adjusted for regional cost-of-living differences using BEA RPP (Regional Price Parities).
2026 figures are projected from 2025 BLS data using a compound annual growth rate (CAGR) of 3.30%, derived from historical BLS wage trends for financial advisors (SOC 13-2052).
Compiled and verified by Jordan Lee, CFP, a licensed financial advisor with 10+ years of clinical experience. · View source data at BLS.gov