New Hampshire, the New England state that’s home to the Great North Woods, White Mountains, the Seacoast and Monadnock Region, has the shortest ocean coastline of any U.S. coastal state. The White Mountains contain the tallest mountain in the northeastern U.S., Mount Washington, and the state has the highest percentage of timberland area in the country.
As a destination for autumnal leaf peepers seeking the brilliant changing of the colors among the deciduous trees, New Hampshire residents are lucky enough to be surrounded by this natural beauty daily. As such, tourism is a large part of the state’s economy. Its major outputs across industry and agriculture are machinery, electrical equipment, rubber and plastic products, dairy products, cattle, apples and eggs.
The median household income in New Hampshire in 2019 was $76,768, which is nearly $15K higher than the national median income (in 2019 dollars) of $62,843, according to the U.S. Census Bureau. Additionally, unemployment in New Hampshire is up 1.4 percentage points from December 2019 to December 2020 from 2.6% to 4%, but that’s still incredibly low and well below the national unemployment rate of 6.7% for the same time period, according to the U.S. Bureau of Labor Statistics (BLS). Another great thing about New Hampshire is that the state doesn’t levy personal income tax, so you’ll appreciate that each year around tax time.
If you’re planning for a career in finance or financial planning in New Hampshire, you’ll need to consider whether to become a fiduciary. A fiduciary is a financial planner who must always act in the interest of his or her clients. One way to become a fiduciary is to become a Certified Financial Planner (CFP), of which there are 630 in New Hampshire, according to the CFP Board. If you’re a fiduciary, you’ll likely charge your clients fees to manage their assets. Conversely, advisors can work as commission-based advisors who earn commissions on the sales of financial products and services.
If you’re interested in the salaries of financial advisors, stockbrokers and life/annuity producers in New Hampshire, we have the data for the regions of the Central New Hampshire nonmetropolitan area, Manchester, Portsmouth and West Central-Southwest New Hampshire nonmetropolitan area.
Financial Advisor Salary in New Hampshire
Salaries for financial advisors are highest in Portsmouth at $142,960, followed by Manchester at $119,440 and then the Central New Hampshire nonmetropolitan area at $79,230. The BLS didn’t provide salary data for the West Central-Southwest New Hampshire nonmetropolitan area. See the table below for more salary data, including the salaries for experienced agents in the 75th and 90th salary percentiles.
Stockbroker Salary in New Hampshire
Stockbrokers in New Hampshire earn anywhere from $89,750 per year at the low end in the West Central-Southwest New Hampshire nonmetropolitan area to a high of $131,940 in the Central New Hampshire nonmetropolitan area. Interestingly, the two metropolitan centers of Manchester and Portsmouth have annual salaries more than $3K lower than the central region at $95,210 and $96,200, respectively. See the table below for further salary breakdowns for stockbrokers.
Life/Annuity Producer Salary in New Hampshire
Salaries for life/annuity producers (also referred to as insurance agents), are lower across the board in New Hampshire than those of financial advisors and stockbrokers. The high annual mean salary for agents is in the largest metropolis of Manchester at a salary of $94,570 and the lowest is in Portsmouth at $66,200. The salaries really jump when you get to the 90th percentile for experienced agents who make the most in their field, all in the six figures and going all the way up to $170,790 in Manchester.
(Salary and job growth data reported by the U.S. Bureau of Labor Statistics in May 2019 for personal financial advisors; securities, commodities and financial services sales agents; and insurance sales agents. Figures represent national data, not school-specific information. Conditions in your area may vary. Information accessed February 2021.)