Financial Advisor Salary: Richmond, VA vs Boston, MA
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 Richmond, VA and Boston, MA, based on BLS OEWS May 2025 wage data and BEA regional price parities for 2024.
1Which City Pays More?
Detailed Comparison
| Metric | Richmond, VA | Boston, MA | Diff |
|---|---|---|---|
| Median Annual Salary | $110,910 | $126,530▲ | -$15,620 |
| 25th Percentile | $80,890 | $83,810▲ | -$2,920 |
| 75th Percentile | $180,610▲ | $176,060 | +$4,550 |
| 90th Percentile | $377,000 | $486,690▲ | -$109,690 |
| Price Level (BEA 2024, US = 100) | 97.9 | 108.3 | -10.4 |
| Median at National-Average Prices | $113,338 | $116,870▲ | -$3,532 |
3Summary Analysis
On paper, Boston, MA pays $15,620 more (median: $110,910 vs $126,530). BEA's regional price parity is 97.9 in Richmond, VA and 108.3 in Boston, MA (United States = 100). At national-average prices the medians are $113,338 and $116,870, so Boston, MA comes out ahead once local prices are counted.
5Reading This Comparison
The $15,620 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: $113,338 for Richmond and $116,870 for Boston, a difference of $3,532.
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 (Richmond, VA; Boston-Cambridge-Newton, MA-NH) and cover prices only, not taxes.
For broader context, see our Virginia overview and the full Financial Advisor city ranking.
Frequently Asked Questions
Is Financial Advisor salary higher in Richmond, VA or Boston, MA?
Boston, MA has the higher median wage for Financial Advisors ($126,530 per year, against $110,910 in Richmond, VA; BLS OEWS May 2025). Restated at national-average prices using BEA regional price parities, the medians are $113,338 in Richmond, VA and $116,870 in Boston, MA.
How do prices compare between Richmond, VA and Boston, MA?
The U.S. Bureau of Economic Analysis puts the 2024 regional price parity at 97.9 for the Richmond, VA metropolitan area and 108.3 for the Boston-Cambridge-Newton, MA-NH metropolitan area, where the United States is 100. That is 2.1% below the national level for Richmond, VA and 8.3% above the national level for Boston, MA.
Which city pays Financial Advisors more once local prices are counted?
Boston, MA: at national-average prices its median Financial Advisor wage is $116,870, against $113,338 for Richmond, VA. The adjustment divides each median by the area's BEA regional price parity and covers prices only, not taxes.