How much do Financial Advisors make in Minneapolis compared to the national average?

The national median Financial Advisor salary is $87,619. In Minneapolis, COL adjustments bring the median to $92,000.

What is the demand outlook for Financial Advisors in Minneapolis?

Demand for Financial Advisors in Minneapolis remains strong. The compensation range of $65,000 to $131,000 reflects competitive hiring.

What is the hiring process like for Financial Advisors in Minneapolis?

Financial Advisor hiring in Minneapolis involves 3 to 5 rounds over 2 to 4 weeks. Prepare with company research and Orbyt's Interview Prep tool.

Financial Advisor.

Minneapolis.

$92,000

median salary, 5% above the national average

$65,000 to $131,000. Updated for 2026.

Get your playbook

The numbers.

Everything you need to negotiate with confidence.

Here is what Financial Advisors actually make in Minneapolis: $65,000 at the 25th percentile, $92,000 at the median, and $131,000 at the 75th. That is 5% above the national average. Minneapolis is a Fortune 500 powerhouse with Target, UnitedHealth Group, Best Buy, and 3M headquartered in the metro. The number on your offer letter will depend on what you bring and how you ask.

Salary range

25th Percentile

$65,000

per year

Median

$92,000

per year

75th Percentile

$131,000

per year

Tap to place your salary

$65,000$131,000

How Minneapolis compares

Minneapolis, MN

$92,000

Cost of living: 5% above average

National Average

$88,000

Minneapolis is $4,000 above

What you should know

Before you negotiate a Financial Advisor offer in Minneapolis, understand the terrain. Minneapolis is a Fortune 500 powerhouse with Target, UnitedHealth Group, Best Buy, and 3M headquartered in the metro. The city's strong corporate base creates consistent demand across finance, healthcare, retail tech, and supply chain roles. Quality of life is high, and employers offer competitive salaries to offset the cold winters. Assets under management (AUM) and client acquisition ability are the dominant pay factors. Advisors managing $50 million or more in AUM earn substantially more through fee-based compensation. The wirehouse versus independent RIA distinction matters: wirehouses offer higher base salaries, while independent advisors have higher long-term earnings potential.

Associate advisors earn $50,000 to $70,000 during training. Advisors with established books earn $80,000 to $130,000. Senior advisors managing $50 million or more in AUM reach $150,000 to $250,000. Partners and principals at RIA firms with large AUM can earn $300,000 to $1 million or more. In Minneapolis, cost of living sits near the national average, so the numbers you see are roughly what you keep.

Base salary is not the full picture. Fee-based advisors earn 0.5 to 1.5% of AUM annually, making a $100 million book worth $500,000 to $1.5 million in annual revenue before firm payout. Commission-based advisors earn front-end loads and trailing commissions. Production bonuses and retention bonuses add 10 to 30% at wirehouses. And on the tax side: minnesota's top income tax rate is 9.85%, one of the highest state rates. There is no city income tax in Minneapolis, but the state burden significantly reduces take home pay. When someone quotes you $92,000, ask what the total package looks like. The gap between base and total comp is where real money hides.

On negotiation: Emphasize retention risk when negotiating. Minneapolis employers know that remote opportunities from warmer, lower tax states are a constant competitive threat. The range for Financial Advisors in Minneapolis runs from $65,000 to $131,000. That is not a narrow window. Where you land inside it depends almost entirely on whether you negotiate and how well you prepare.

Top industries in Minneapolis

Retail & E-CommerceHealthcareFinancial ServicesFood & AgricultureManufacturing

Negotiating in Minneapolis

Emphasize retention risk when negotiating. Minneapolis employers know that remote opportunities from warmer, lower tax states are a constant competitive threat.

Common questions.

Most financial advisors need three to five years to build a book of business generating sustainable income above $80,000. The first two years are often subsidized by the firm's training salary. Advisors who survive the ramp period typically see compounding growth as referrals and AUM accumulate.

The CFP (Certified Financial Planner) designation is strongly correlated with higher earnings, with certified advisors earning 20 to 30% more than non-certified peers. It signals comprehensive planning competence, increases client trust, and is increasingly required for senior roles at major firms.

The national median for a Financial Advisor is $87,619. In Minneapolis, cost of living adjustments push the median to $92,000. That premium reflects Minneapolis's higher housing, transportation, and everyday costs.

Minneapolis is a Fortune 500 powerhouse with Target, UnitedHealth Group, Best Buy, and 3M headquartered in the metro. The city's strong corporate base creates consistent demand across finance, healthcare, retail tech, and supply chain roles. For Financial Advisors specifically, assets under management (aum) and client acquisition ability are the dominant pay factors, which signals sustained demand. The current compensation range of $65,000 to $131,000 reflects a market that is competing for talent.

Minnesota's top income tax rate is 9.85%, one of the highest state rates. There is no city income tax in Minneapolis, but the state burden significantly reduces take home pay. When comparing offers across states, your take home pay matters more than the number on the offer letter. A lower salary in a no income tax state can net more than a higher one elsewhere.

Financial Advisor hiring in Minneapolis typically involves three to five rounds: a recruiter screen, a technical or skills assessment, one or two team interviews, and a final conversation with leadership. Companies in Minneapolis's Retail & E-Commerce sector may add domain specific evaluations. The process usually takes two to four weeks. Prepare by researching the company and practicing with Orbyt's Interview Prep tool.