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Stock Broker Salary

A substantial slice of final earnings for Stock Brokers (around two-fifths) arrives through commissions. Median overall income in this area is approximately $50K. Overall cash earnings for Stock Brokers stretch from $34K on the lower end to $145K near the top, and the heftiest packages can encompass around $20K from bonuses and $7K from profit sharing. Career length and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction for Stock Brokers is high. Among survey respondents, men are more common than women; 87 percent of Stock Brokers are male. A large number enjoy medical while a fair number get dental coverage. Vision coverage is also available to more than half. The data in this summary comes from the PayScale salary survey.

$31,562 - $137,410
(Median)
$32K
$48K
$140K
MEDIAN: $48,252
10%
50%
90%

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$12.00 - $22.82
(Median)
$12
$20
$23
MEDIAN: $19.00
10%
50%
90%

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National Salary Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$60K$120K$180K
Salary
$31,562 - $137,410  
   
Bonus
$309.13 - $19,606  
Profit Sharing
$293.61 - $7,213  
Commission
$5,500 - $175,000  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$34,055 - $145,186  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 170
National Hourly Rate Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$30$60$90
Hourly Rate
$12.00 - $22.82  
   
Overtime
$25.88 - $38.00  
National Annualized Data (?
XAll compensation data shown are gross, national 10th to 90th percentile ranges. Pay can vary greatly by location. To view local data, take the PayScale survey.
)
$0$60K$120K$180K
Bonus
$309.13 - $19,606  
   
Commission
$5,500 - $175,000  
Profit Sharing
$293.61 - $7,213  
Total Pay (?
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).
)
$34,055 - $145,186  
Country: United States | Currency: USD | Updated: 2 May 2015 | Individuals Reporting: 34

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Job Description for Stock Broker

The primary job of a stock broker is to help a client develop an investment plan based on the client's specific needs. A stock broker advises a client and gives recommendations on stocks and other financial instruments, monitors and keeps a record of the client's investments transactions, buys and sells shares of stocks, mutual funds and similar instruments, evaluates and interprets financial reports, and keeps track of the stock market movement at all times. A stock broker works for large financial houses, brokers and banks such as JP Morgan Chase, Goldman Sachs, Edward Jones, Scottrade, and the like. His place of work is either on the trading floor of his company or in the stock exchange itself, surrounded by his fellow stock traders. He may be constantly on the phone dealing with his clients and with the specialists on the trading floor. He reports to a manager of the specific trading department where he works. There are usually more than one stock broker in a large financial firm, and they are often supervised by a principal or senior stock broker or manager. Typically, a stock broker must have a bachelor's degree, preferably in business, finance, management or marketing. An MBA degree would be a major advantage. The key skills for this position are: keen analytical ability, high tolerance to stress, strong drive and ambition, competitiveness, and computer skills. The hours of a stock broker follow the stock trading hours, including the morning and evening extended hours.


Stock Broker Tasks

  • Maintain knowledge of all financial services the company offers and promote these services to the client.
  • Manage client portfolio with care and integrity, ensuring that their financial well-being is protected.
  • Analyze and interpret portfolios and assist in creation of strategies to meet financial goals of the client.

Stock Broker Job Listings

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Pay by Experience Level for Stock Broker

Median of all compensation (including tips, bonus, and overtime) by years of experience.


Experience and income seem to be closely related; in general, the survey respondents who had worked for more years reported higher incomes. People who have worked for fewer than five years earn around $46K, and folks with five to 10 years of experience see a modestly higher median of $53K. People with 10 to 20 years of experience make an average of about $71K in this role. Six-figure salaries aren't unusual for professionals who have achieved more than 20 years of experience; median compensation for this group sits in the range of $122K.

Pay Difference by Location


For Stock Brokers, busy New York offers a higher-than-average pay rate, 51 percent above the national average. The lowest-paying market is Denver, which sits 15 percent below the national average.

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Experience Affects Stock Broker Salaries

Late-Career
up arrow 145%

Experienced
up arrow 44%

Mid-Career
up arrow 6%

National Average
$50,000

Entry-Level
up arrow 8%

Job Satisfaction

Extremely satisfied
Rated 5 out of 5
based on 40 votes.

Gender

Female
13 %
Male
87 %

Years of Experience

Less than 1 year
10%
1-4 years
48%
5-9 years
20%
10-19 years
15%
20 years or more
7%

Common Health Benefits

medical benefits Medical: 82% dental benefits Dental: 72%
vision benefits Vision: 55% employee benefits None: 15%
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