523930/Investment Advice
US businesses, employees and payroll, 2017 to 2023
110K
employees, 2023
110K
employees, 2023
In 2023, 23,359 US Investment Advice business locations employed 110,125 people and paid $18.5 billion in annual payroll, $167,820 per employee on average. Employment was down 0.7% from 2022. New York had the most employees.
Updated Oct 9, 2026 · data year 2023
Business locations
23,359
-3.9% vs 2022
Employees
110,125
-0.7% vs 2022
Annual payroll
$18.5B
-1.9% vs 2022
Average pay
$167,820
-1.3% vs 2022
Over the years
United States, 2017 to 2023
Employees
Paid employees in mid-March
Business locations
Places with paid employees
By state
Employees of Investment Advice in each state, 2023
Employees by state
States with the most employees
Employees and the share of all the state's jobs
| State | Business locations | Employees | Average pay | Share of state jobs |
|---|---|---|---|---|
| New York | 1,518 | 15,649 | $323,403 | 0.18% |
| California | 3,029 | 12,655 | $163,698 | 0.08% |
| Texas | 1,764 | 8,147 | $157,293 | 0.07% |
| Illinois | 886 | 7,189 | $218,250 | 0.13% |
| Florida | 1,950 | 6,205 | $125,740 | 0.06% |
| Massachusetts | 607 | 5,240 | $146,941 | 0.15% |
| Pennsylvania | 879 | 4,463 | $141,616 | 0.08% |
| Colorado | 708 | 3,376 | $173,232 | 0.13% |
| Minnesota | 583 | 3,365 | $149,601 | 0.12% |
| Georgia | 657 | 3,045 | $153,321 | 0.07% |
| Arizona | 616 | 2,915 | $102,375 | 0.10% |
| Ohio | 788 | 2,737 | $100,716 | 0.05% |
| New Jersey | 633 | 2,542 | $122,623 | 0.06% |
| Washington | 524 | 2,434 | $127,466 | 0.08% |
| North Carolina | 741 | 2,272 | $135,714 | 0.05% |
The 15 states with the most employees. Download the CSV for all 51.
Top metro areas
Metro and micro areas with the most Investment Advice employees, 2023
Metro areas with the most employees
| Metro area | Locations | Employees | Average pay |
|---|---|---|---|
| New York-Newark-Jersey City, NY-NJ | 1,602 | 16,288 | $317,958 |
| Chicago-Naperville-Elgin, IL-IN | 761 | 6,823 | $224,147 |
| Los Angeles-Long Beach-Anaheim, CA | 1,245 | 5,117 | $158,168 |
| Boston-Cambridge-Newton, MA-NH | 507 | 3,787 | $169,079 |
| Philadelphia-Camden-Wilmington, PA-NJ-DE-MD | 563 | 3,445 | $145,288 |
| San Francisco-Oakland-Fremont, CA | 544 | 3,142 | $260,607 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 467 | 3,046 | $157,378 |
| Dallas-Fort Worth-Arlington, TX | 669 | 2,979 | $153,576 |
| Denver-Aurora-Centennial, CO | 436 | 2,762 | $188,415 |
| Atlanta-Sandy Springs-Roswell, GA | 511 | 2,670 | $161,807 |
| Miami-Fort Lauderdale-West Palm Beach, FL | 826 | 2,581 | $167,135 |
| Washington-Arlington-Alexandria, DC-VA-MD-WV | 411 | 2,252 | $164,946 |
| Phoenix-Mesa-Chandler, AZ | 483 | 2,205 | $115,602 |
| Seattle-Tacoma-Bellevue, WA | 308 | 1,859 | $143,421 |
| San Diego-Chula Vista-Carlsbad, CA | 389 | 1,851 | $96,696 |
Business size
US Investment Advice business locations by number of employees, 2023
Locations by size
| Employees | Locations | Share |
|---|---|---|
| Under 5 | 19,738 | 84.5% |
| 5 to 9 | 2,202 | 9.4% |
| 10 to 19 | 785 | 3.4% |
| 20 to 49 | 387 | 1.7% |
| 50 to 99 | 128 | 0.5% |
| 100 to 249 | 72 | 0.3% |
| 250 to 499 | 31 | 0.1% |
| 500 to 999 | 10 | 0.0% |
| 1,000 or more | 6 | 0.0% |
Related industries
The industries this code belongs to
Part of Finance and Insurance 52Securities, Commodity Contracts, and Other Financial Investments and Related Activities 523Other Financial Investment Activities 5239Investment Advice 52393
Questions and answers
How many people work in Investment Advice in the US?
110,125 people worked at 23,359 US Investment Advice business locations in 2023, down 0.7% from 2022. That is 0.08% of all US private-sector employees.
What is the average pay in Investment Advice?
$167,820 a year per employee in 2023, from $18.5 billion in annual payroll (down 1.3% from 2022). The average across all US industries was $68,342.
Which state has the most Investment Advice jobs?
New York had the most, with 15,649 employees in 2023, followed by California (12,655) and Texas (8,147).
Which metro areas have the most Investment Advice jobs?
New York-Newark-Jersey City, NY-NJ (16,288), Chicago-Naperville-Elgin, IL-IN (6,823), Los Angeles-Long Beach-Anaheim, CA (5,117) had the most Investment Advice employees in 2023.
Are most Investment Advice businesses small?
97.3% of the 23,359 Investment Advice business locations had fewer than 20 employees in 2023, and 16 had 500 or more.
Official US government statistics, published once a year. Business locations are places with paid employees; employees are counted in mid-March; payroll covers the whole year. Covers most private employers, not the self-employed, most government workers or farm workers on farms. * Less accurate: changed by 5% or more to protect privacy. Changes from the year before are shown only when both years use the same edition of the industry codes.