Financial Advisor Salary in Detroit, MI
Financial Advisors in Detroit, MI earn a median of $78,000/year, ranging from $60,060 (25th percentile) to $124,800 (90th percentile). After Michigan state taxes (4.25%) and cost-of-living adjustments (COL index 89), this is equivalent to $87,640 in purchasing power vs the US average.
1Salary Distribution in Detroit, MI
2Estimated Take-Home & Purchasing Power
* Estimates only. Does not include federal income tax, 401k, health insurance, or local taxes. Use the Salary Calculator for a detailed breakdown.
How Does Detroit, MI Compare?
| City | Median | COL Index | COL-Adjusted |
|---|---|---|---|
| Detroit, MI (current) | $78,000 | 89 | $87,640 |
| San Francisco, CA | $126,000 | 186 | $67,742 |
| New York, NY | $121,000 | 187 | $64,706 |
| Seattle, WA | $122,000 | 162 | $75,309 |
| Boston, MA | $112,000 | 162 | $69,136 |
| Austin, TX | $101,000 | 124 | $81,452 |
4Frequently Asked Questions
What is the average Financial Advisor salary in Detroit, MI?
The median Financial Advisor salary in Detroit, MI is $78,000 per year as of 2026 BLS OEWS data. The 25th percentile is $60,060 and the 90th percentile is $124,800.
Is Detroit, MI a good place to work as a Financial Advisor?
Detroit, MI has a cost of living index of 89 (US average = 100). After adjusting for cost of living, a $78,000 Financial Advisor salary in Detroit, MI is equivalent to $87,640 in purchasing power compared to the US average.
What is the cost of living adjustment for Detroit, MI?
Detroit, MI has a cost of living index of 89, meaning it is 11% less expensive than the US average. The state income tax rate in Michigan is approximately 4.25%.
What is the Financial Advisor salary range in Detroit, MI?
In Detroit, MI, Financial Advisors earn between $60,060 (25th percentile) and $124,800 (90th percentile), with a median of $78,000 per year.
How many Financial Advisor jobs are there in Detroit, MI?
According to BLS OEWS data, there are approximately 12,000 Financial Advisor positions in the Detroit, MI metropolitan area.
What do Financial Advisors earn in Detroit, MI?
Based on BLS OEWS 2026 data, Financial Advisors in Detroit, MI earn a median annual wage of $78,000. The middle 50% earn between $60,060 and $99,840. The top 10% earn more than $124,800. There are approximately 12,000 Financial Advisors employed in the Detroit, MI metro area, with annual job growth estimated at 2.8%.
Is Detroit, MI a good place for a Financial Advisor?
Detroit, MI has a cost of living index of 89 (US average = 100), making it 11% less expensive than the national average. After adjusting for cost of living, a Financial Advisor in Detroit, MI earning $78,000has the equivalent purchasing power of $87,640 relative to the US median. Michigan has a state income tax rate of approximately 4.25%.
What is the cost of living adjustment for Detroit, MI?
Detroit, MI's cost of living index is 89, based on composite data including housing, food, transportation, healthcare, and utilities. This means that $78,000 in Detroit, MIhas the same purchasing power as $87,640 in a city at exactly the US average cost of living. Housing is typically the largest driver of cost of living differences between metros.
Compare Detroit, MI with Another City
See a detailed side-by-side comparison of salary, taxes, and purchasing power.
Data source: U.S. Bureau of Labor Statistics, Occupational Employment and Wage Statistics (OEWS) Program. All figures are approximate annual estimates based on the most recent available BLS data. Actual salaries may vary based on experience, education, employer size, and specific role. Cost-of-living data represents composite indices from publicly available metropolitan area data.