Financial Advisor Paychecks Climb in Most States

Financial advisors saw income growth across much of the country in 2025, with Oregon emerging as the standout market as both advisor pay and employment surged, according to a new study from SmartAsset based on recently released data from the Bureau of Labor Statistics.

Oregon posted the biggest year-over-year jump in median income for personal financial advisors, with earnings climbing roughly 53% to $122,830 in 2025. The state also led the nation in estimated employment growth for the profession, with advisor headcount increasing nearly 45%, underscoring how quickly that market is expanding.

At the national level, New York remains the top-paying state for advisors, with a 2025 median income of $166,400. While that figure was down slightly—about 0.9%—from the prior year, New York still sits comfortably ahead of other high-compensation markets such as New Jersey, California and Massachusetts.

New Jersey ranked second for pay, with median income of $158,570 and a robust 28.2% year-over-year increase, while California advisors earned a median $130,330, up 1.3%. Overall, 29 of the 40 states with available data saw median advisor income rise between 2024 and 2025.

The biggest reversal came in Idaho. In SmartAsset’s prior study, Idaho advisors led the country with a 44% jump in median income between 2023 and 2024. In the latest period, the state swung to the bottom of the league table, with advisor earnings falling nearly 31%.

Rounding out the top 10 for 2025 median income were South Dakota ($128,720), Massachusetts ($125,670), Delaware ($125,050), Oregon ($122,830), Illinois ($120,130), Wisconsin ($119,430) and Washington ($114,040).