Financial Advisor Salary: Washington, DC vs New York, NY
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 Washington, DC and New York, NY, based on BLS OEWS May 2025 wage data and BEA regional price parities for 2024.
1Which City Pays More?
Detailed Comparison
| Metric | Washington, DC | New York, NY | Diff |
|---|---|---|---|
| Median Annual Salary | $106,230 | $170,050▲ | -$63,820 |
| 25th Percentile | $75,540 | $112,000▲ | -$36,460 |
| 75th Percentile | $206,190 | $302,290▲ | -$96,100 |
| 90th Percentile | $389,430 | $420,630▲ | -$31,200 |
| Price Level (BEA 2024, US = 100) | 108.9 | 112.6 | -3.7 |
| Median at National-Average Prices | $97,563 | $151,071▲ | -$53,508 |
| Total Employment | 4,330 | 23,980 | -19,650 |
3Summary Analysis
On paper, New York, NY pays $63,820 more (median: $106,230 vs $170,050). BEA's regional price parity is 108.9 in Washington, DC and 112.6 in New York, NY (United States = 100). At national-average prices the medians are $97,563 and $151,071, so New York, NY comes out ahead once local prices are counted.
5Reading This Comparison
The $63,820 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: $97,563 for Washington and $151,071 for New York, a difference of $53,508.
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 (Washington-Arlington-Alexandria, DC-VA-MD-WV; New York-Newark-Jersey City, NY-NJ) and cover prices only, not taxes.
BLS estimates 4,330 Financial Advisor jobs in the Washington area and 23,980 in the New York area. For broader context, see our District of Columbia overview and the full Financial Advisor city ranking.
Frequently Asked Questions
Is Financial Advisor salary higher in Washington, DC or New York, NY?
New York, NY has the higher median wage for Financial Advisors ($170,050 per year, against $106,230 in Washington, DC; BLS OEWS May 2025). Restated at national-average prices using BEA regional price parities, the medians are $97,563 in Washington, DC and $151,071 in New York, NY.
How do prices compare between Washington, DC and New York, NY?
The U.S. Bureau of Economic Analysis puts the 2024 regional price parity at 108.9 for the Washington-Arlington-Alexandria, DC-VA-MD-WV metropolitan area and 112.6 for the New York-Newark-Jersey City, NY-NJ metropolitan area, where the United States is 100. That is 8.9% above the national level for Washington, DC and 12.6% above the national level for New York, NY.
Which city pays Financial Advisors more once local prices are counted?
New York, NY: at national-average prices its median Financial Advisor wage is $151,071, against $97,563 for Washington, DC. The adjustment divides each median by the area's BEA regional price parity and covers prices only, not taxes.