Financial Advisor · Salary Comparison · 2026
Financial Advisor Salary: Memphis, TN vs New York, NY
Side-by-side comparison of salary, taxes, cost of living, and take-home pay for Financial Advisors in Memphis, TN and New York, NY, based on BLS OEWS 2026 data.
1Which City Pays More After Tax?
Higher Gross Salary
✓ New York, NY
$68,000 vs $121,000
Better Purchasing Power
✓ Memphis, TN
$81,928 vs $64,706
Best Take-Home (COL-Adj)
✓ Memphis, TN
$75,701 vs $55,693
2
Detailed Comparison
| Metric | Memphis, TN | New York, NY | Diff |
|---|---|---|---|
| Median Annual Salary | $68,000 | $121,000▲ | -$53,000 |
| 25th Percentile | $52,360 | $93,170▲ | -$40,810 |
| 75th Percentile | $87,040 | $154,880▲ | -$67,840 |
| 90th Percentile | $108,800 | $193,600▲ | -$84,800 |
| Cost of Living Index | 83 | 187 | -104 |
| State Income Tax | 0%▲ | 6.85% | -6.85% |
| COL-Adjusted Median | $81,928▲ | $64,706 | +$17,222 |
| Est. Annual Take-Home | $62,832 | $104,145▲ | -$41,313 |
| COL-Adj. Take-Home | $75,701▲ | $55,693 | +$20,008 |
| Total Employment | 6,400 | 54,400 | -48,000 |
▲ = Higher value wins for this metric. Diff = Memphis, TN minus New York, NY.
3Summary Analysis
On paper, New York, NY pays $53,000 more (median: $68,000 vs $121,000). However, after adjusting for cost of living (index 83 vs 187), Memphis, TN provides better purchasing power ($81,928 vs $64,706 equivalent). Memphis, TN has no state income tax, which is a significant advantage.
Data: U.S. Bureau of Labor Statistics OEWS · 2026 · Cost-of-living indices from composite metro area data. Take-home estimates approximate only — consult a tax professional for accurate figures.