Oregon, Vermont Lead US Adviser Salary Bumps

Oregon led the U.S. in gaining new financial advisers and raising their salaries in 2025, gaining 44% more advisers and increasing the median for advisers by 53% from the previous year, according to analysis by SmartAsset, a financial technology company.

Recently released wage and estimated employment data from the Bureau of Labor Statistics show that Oregon’s median salary for financial advisers—inclusive of all commissions and bonuses—rose to $122,830 in 2025, up from $80,190 the previous year.

Behind Oregon, the states with the largest percentage increases in advisers’ median salaries were Vermont (up 35.2% to $110,020); New Jersey (up 28% to $158,570); Nebraska (up 26% to $93,280); and Massachusetts (up 24% to $125,670). In all, 28 states saw net salary increases from 2024 to 2025—but 10 states were not represented in the dataset.

While New York had the highest state median salary for advisers ($166,400), that income fell 0.9% from 2024. Among 37 states with known employment levels, New York also had the biggest percentage plunge in employment in 2025—with 25.2% fewer advisers.

Behind New York, the states where financial advisers earned the most were New Jersey (median income of $158,570); California ($130,330); South Dakota ($128,720); and Massachusetts ($125,670). Oregon had the seventh-highest state median salary.

As for percentage decreases in advisers’ employment, the largest losses behind New York were Ohio (24.8%); Iowa (20%); Idaho (18.3%); and Minnesota (17%).

The states with the biggest percentage decreases in salary were Idaho (down 30% to $94,370); North Dakota (down 22.3% to $76,870); and Michigan (down 21.1% to $77,930).

The lowest median adviser salaries in 2025 were in Kentucky ($67,150); Hawaii ($76,070); North Dakota ($76,870); Utah ($77,390); and Michigan ($77,930).

Advisers’ Salaries Up 15% Nationwide

A recent study by the Certified Financial Planner Board of Standards Inc. found that the national median salary for financial planners in 2025 was $195,000, representing a 15% year-over-year increase.

The study found that an average financial planner’s annual total compensation comprised 37% annual base salary, 46% annual variable pay, 15% company profits and 2% profit sharing.

Divided by business channel, the median annual compensation was $175,000 for a financial planner; $181,500 at a hybrid RIA; $206,000 at a bank, $213,760 at a wirehouse or brokerage; and $226,500 at an independent broker/dealer.

Arranged by seniority, financial planners who worked for less than five years had a median salary of $115,000; those with five to 10 years’ experience earned $160,000; those with 11 to 20 years earned $255,000; and those more than 20 years earned $360,000.

More than half (54%) of certified financial planners surveyed by the CFP Board expressed a high degree of professional fulfillment with their career, and another 31% felt a somewhat high level. Among those who reported a high level of satisfaction, their most cited reasons included a sense of stability (89%), healthy work-life balance (83%), pathways for career advancement (80%) and professional development opportunities (80%).

The CFP Board had 1,624 financial advisers complete an online questionnaire between January and mid-March.