Financial Advisor Salary in Dearborn Heights, MI: $90,937 (2026)
Quick Answer:A full-time financial advisor in Dearborn Heights, MI earns a median $90,937/year (≈ $43.72/hour) in nominal terms for 2026 — projected from BLS OEWS 2025 (SOC 13-2052). Once you factor in Dearborn Heights's price level (7% below national, BEA RPP 93.2), that paycheck buys what $97,572 would nationally. Nominal pay sits 0.1% below the Michigan state average.
Based on BLS state-level estimates · View source
Financial advisors in Dearborn Heights, MI, can expect to see a median annual salary of $90,937 in 2026, a stark contrast to the national median of $108,537. This local figure reflects the unique dynamics of the marketplace, particularly the structural divide between commission-based wirehouse models and fee-only Registered Investment Advisors (RIAs). With salaries ranging from $52,744 at the lowest percentile to $140,953 at the 90th percentile, advisors’ pay largely hinges on their chosen compensation models. The variety in earnings stems from differences in asset under management (AUM) strategies and fee structures, signaling a competitive landscape for financial planning professionals in the area.
About the Dearborn Heights Market
Salary estimated from Michigan average ($98,000) adjusted for local cost of living.
Salary Breakdown
| Percentile | Annual | Hourly |
|---|---|---|
| Entry Level (P10) | $52,744 | $25.36 |
| Lower Range (P25) | $65,475 | $31.48 |
| Median (P50)(typical) | $90,937 | $43.72 |
| Upper Range (P75) | $116,399 | $55.96 |
| Top Earners (P90) | $140,953 | $67.76 |
Median Salary Position
16.22% below the national average
2026 Salary Percentile Distribution in Dearborn Heights
In Dearborn Heights, MI, the financial advisor salary spread from the 10th to 90th percentile is $88,209 (2026 est.). At $90,937, the local median is 16.22% below the national median of $108,537.
Salary Calculator
At 40 hours/week in Dearborn Heights: You'd be in the lower-middle range
How Dearborn Heights Financial Advisor Pay Compares
Dearborn Heights median: $90,937/year (2026)
| Compared To | Median Salary | Dearborn Heights Pays |
|---|---|---|
| Michigan Average | $91,028 | -0.10% less |
| National Average | $108,537 | -16.22% less |
Financial Advisors in Dearborn Heights, MI earn a median of $90,937 per year (2026 est.), which is 16.22% lower than the national median of $108,537 and 0.10% below the Michigan state average of $91,028.
Cost-of-Living Adjusted Salary
Dearborn Heights has a cost of living 6.80% below the national average, meaning your salary goes further here.
Adjusted salary = nominal × (100 / CoL index). CoL index: 100 = national average.
Dearborn Heights, MI has a cost-of-living index of 93.2 (below the national average of 100). A financial advisor earning $90,937 nominally has purchasing power equivalent to $97,572 in an average-cost city — an effective 7.3% boost.
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2019 BLS Actual
$73,604
2025 BLS Actual
$88,032
2026 Current Est.
$90,937
2019–2027 Growth
+27.6%
Salary Trajectory for Financial Advisors in Dearborn Heights (2019–2027)
2019–2025: actual BLS OEWS data for this metro area. 2026+: CAGR 3.30% projection.
| Year | Annual Salary | Status |
|---|---|---|
| 2019 | $73,604 | Actual |
| 2020 | $74,844 | Actual |
| 2021 | $78,900 | Actual |
| 2022 | $79,922 | Actual |
| 2023 | $83,432 | Actual |
| 2024 | $91,265 | Actual |
| 2025 | $88,032 | Actual |
| 2026(current) | $90,937 | Estimated |
| 2027 | $93,938 | Projected |
Based on 7 years of BLS OEWS data for the Dearborn Heights metropolitan area, the median financial advisor salary grew 19.6% from $73,604 (2019) to $88,032 (2025). At a 3.30% compound annual growth rate, salaries are projected to reach $93,938 by 2027 — a total increase of $20,334 (27.63%) from 2019.
Note: Historical values (2019–2025) are actual BLS OEWS figures for the Dearborn Heights 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) | $52,744 – $65,475 |
| 3-5 years (Mid Career) | $65,475 – $90,937 |
| 5+ years (Experienced) | $90,937 – $116,399 |
| 10+ years (Top Earner) | $116,399 – $140,953 |
CFP, FA salary ranges estimated from BLS percentile data. Individual financial advisor compensation varies by employer, certifications, and specialization.
Financial Advisor Job Market in Dearborn Heights
With only 13 financial advisors currently employed in Dearborn Heights, the market is somewhat limited, particularly for those seeking the higher ends of financial advisor pay in Dearborn Heights MI. The cost of living index sits at 93.2, suggesting a more affordable living scenario that can positively influence take-home pay. Among local employers, wirehouses such as Morgan Stanley and Merrill Lynch typically offer higher compensation packages compared to independent broker-dealers and RIAs. Nevertheless, advisors with CFP or CFA credentials often receive a premium, especially if they manage high-net-worth clients or have a significant AUM book. To maximize potential earnings, advisors should focus on building their client base, enhancing credentials through further education, and exploring partnerships with independent firms that offer lucrative breakaway transition packages from traditional commission-based models.
More salary data for Dearborn Heights, MI:
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 $88,032 for financial advisorsin the Dearborn Heights 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 Dearborn Heights 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