The authors present an improved formulation for the axisymmetric solid harmonic finite element (FE) modeling of a flexible, spinning rotor. A thorough comparison of beam-type FE and axisymmetric solid FE rotor models is presented, indicating the errors that result from beam FE usage for various nondimensional rotor topologies. The axisymmetric rotor is meshed in only two dimensions: axial and radial, with both displacement fields being represented with Fourier series expansions. Centrifugal stress-stiffening and spin-softening effects are included in all elements and most importantly in modeling flexible disks. Beam FE and axisymmetric FE natural frequencies, mode shapes, and critical speeds are compared to identify shaft geometries where the beam model yields a significant error. Finally, limitations of beam FE models and guidance for utilizing axisymmetric solid FE models in rotor dynamic simulations are provided.