The U.S. Department of Labor has developed an automated occupational information database, O*NET, that identifies and describes work content, work skills, and training requirements for all jobs across the country in all sectors of the economy. Much of the occupational information contained in this report is derived directly from the O*NET database, and supplemented with information from the Bureau of Labor Statistics, Census Bureau, and Labor Market and Career Information.
| Industry | % of Personal Financial Advisors employed | Annual Growth Rate |
|---|---|---|
| Agencies, brokerages, and other insurance related activities | 2.2 | 1.53 |
| 2022 Statewide average hourly wage | $56.38 |
| 2022 National average hourly wage | $66.22 |
| 2020 National employment | 275,200 |
| 2020 Texas employment | 18,720 |
| Texas projected employment by 2030 | 22,637 |
| Texas projected annual employment and Turnover openings through 2030 | 1,877 |
| Region | Employment | Projected Employment 2030 | Projected Annual Openings 2030 |
Annual Growth Rate |
Average Income |
|---|---|---|---|---|---|
| Texas (all regions) | 18,720 | 22,637 | 1,877 | 1.92% | $117,261.00 |
| Top 10 Relevant Knowledge Areas | Relevant Importance Levels |
|---|---|
| Customer and Personal Service Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction. |
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| Economics and Accounting Knowledge of economic and accounting principles and practices, the financial markets, banking, and the analysis and reporting of financial data. |
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| English Language Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar. |
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| Mathematics Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications. |
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| Psychology Knowledge of human behavior and performance; individual differences in ability, personality, and interests; learning and motivation; psychological research methods; and the assessment and treatment of behavioral and affective disorders. |
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| Sales and Marketing Knowledge of principles and methods for showing, promoting, and selling products or services. This includes marketing strategy and tactics, product demonstration, sales techniques, and sales control systems. |
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| Law and Government Knowledge of laws, legal codes, court procedures, precedents, government regulations, executive orders, agency rules, and the democratic political process. |
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| Administrative Knowledge of administrative and office procedures and systems such as word processing, managing files and records, stenography and transcription, designing forms, and workplace terminology. |
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| Computers and Electronics Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming. |
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| Education and Training Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects. |
| Top 10 Relevant Skill Areas | Relevant Importance Levels |
|---|---|
| Reading Comprehension Understanding written sentences and paragraphs in work-related documents. |
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| Active Listening Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times. |
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| Writing Communicating effectively in writing as appropriate for the needs of the audience. |
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| Speaking Talking to others to convey information effectively. |
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| Critical Thinking Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions, or approaches to problems. |
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| Judgment and Decision Making Considering the relative costs and benefits of potential actions to choose the most appropriate one. |
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| Service Orientation Actively looking for ways to help people. |
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| Complex Problem Solving Identifying complex problems and reviewing related information to develop and evaluate options and implement solutions. |
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| Persuasion Persuading others to change their minds or behavior. |
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| Social Perceptiveness Being aware of others' reactions and understanding why they react as they do. |
| Top 10 Relevant Abilities | Relevant Importance Levels |
|---|---|
| Oral Comprehension The ability to listen to and understand information and ideas presented through spoken words and sentences. |
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| Written Comprehension The ability to read and understand information and ideas presented in writing. |
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| Oral Expression The ability to communicate information and ideas in speaking so others will understand. |
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| Written Expression The ability to communicate information and ideas in writing so others will understand. |
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| Speech Clarity The ability to speak clearly so others can understand you. |
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| Speech Recognition The ability to identify and understand the speech of another person. |
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| Near Vision The ability to see details at close range (within a few feet of the observer). |
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| Deductive Reasoning The ability to apply general rules to specific problems to produce answers that make sense. |
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| Inductive Reasoning The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events). |
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| Mathematical Reasoning The ability to choose the right mathematical methods or formulas to solve a problem. |