Financial Advisor Salary: Detroit, MI vs Austin, TX
BLS reports this occupation as "Personal Financial Advisors" (13-2052); every figure on this page is for that BLS occupation.
Side-by-side comparison of wages and local price levels for Financial Advisors in Detroit, MI and Austin, TX, based on BLS OEWS May 2025 wage data and BEA regional price parities for 2024.
1Which City Pays More?
Detailed Comparison
| Metric | Detroit, MI | Austin, TX | Diff |
|---|---|---|---|
| Median Annual Salary | $76,830 | $95,990▲ | -$19,160 |
| 25th Percentile | $49,570 | $77,860▲ | -$28,290 |
| 75th Percentile | $139,990 | $215,890▲ | -$75,900 |
| 90th Percentile | $310,010 | $410,600▲ | -$100,590 |
| Price Level (BEA 2024, US = 100) | 100.3 | 98.1 | +2.2 |
| Median at National-Average Prices | $76,602 | $97,883▲ | -$21,281 |
| Total Employment | 3,430 | 2,010 | +1,420 |
3Summary Analysis
On paper, Austin, TX pays $19,160 more (median: $76,830 vs $95,990). BEA's regional price parity is 100.3 in Detroit, MI and 98.1 in Austin, TX (United States = 100). At national-average prices the medians are $76,602 and $97,883, so Austin, TX comes out ahead once local prices are counted.
5Reading This Comparison
The $19,160 gap between the two medians is a gap in dollars, not in what those dollars buy. Dividing each median by its area's regional price parity restates it at national-average prices: $76,602 for Detroit and $97,883 for Austin, a difference of $21,281.
The price levels come from the U.S. Bureau of Economic Analysis, which describes them this way: “Regional price parities (RPPs) measure the differences in price levels across states and metropolitan areas for a given year and are expressed as a percentage of the overall national price level.” The figures used here are the all-items index for each whole metropolitan area (Detroit-Warren-Dearborn, MI; Austin-Round Rock-San Marcos, TX) and cover prices only, not taxes.
BLS estimates 3,430 Financial Advisor jobs in the Detroit area and 2,010 in the Austin area. For broader context, see our Michigan overview and the full Financial Advisor city ranking.
Frequently Asked Questions
Is Financial Advisor salary higher in Detroit, MI or Austin, TX?
Austin, TX has the higher median wage for Financial Advisors ($95,990 per year, against $76,830 in Detroit, MI; BLS OEWS May 2025). Restated at national-average prices using BEA regional price parities, the medians are $76,602 in Detroit, MI and $97,883 in Austin, TX.
How do prices compare between Detroit, MI and Austin, TX?
The U.S. Bureau of Economic Analysis puts the 2024 regional price parity at 100.3 for the Detroit-Warren-Dearborn, MI metropolitan area and 98.1 for the Austin-Round Rock-San Marcos, TX metropolitan area, where the United States is 100. That is 0.3% above the national level for Detroit, MI and 1.9% below the national level for Austin, TX.
Which city pays Financial Advisors more once local prices are counted?
Austin, TX: at national-average prices its median Financial Advisor wage is $97,883, against $76,602 for Detroit, MI. The adjustment divides each median by the area's BEA regional price parity and covers prices only, not taxes.