Newly minted advisors now earn an average of $47,450 a year, according to the Financial Planning Association. As graduates of professional programs find it easier to get jobs, their more experienced peers may have more leverage on compensation.
Entry-level salaries dipped with the recession but are now back on the rise, especially for advisors who can get up in front of clients fast -- and take some of the pressure of relationship management off the senior advisors' plates.
However, one interesting thing: Young advisors seem more concerned about getting health insurance and other benefits than they are about base pay. This argues in favor of more traditional employee roles instead of an independent contract relationship for these advisors.
Independence may be a joy that only mature professionals care to enjoy.