Stock Broker Salary (April 2024) - Zippia (2024)

FAQs

Stock Broker Salary (April 2024) - Zippia? ›

The average Stock Broker salary in the United States is $160,450 as of April 24, 2024, but the salary range typically falls between $121,464 and $187,568.

The average Stock Broker salary in the United States is $160,450 as of April 24, 2024, but the salary range typically falls between $121,464 and $187,568.

The average salary for Stock Broker is $301,597 per year in the Australia.

While ZipRecruiter is seeing annual salaries as high as $196,000 and as low as $53,000, the majority of Wall Street Trader salaries currently range between $57,500 (25th percentile) to $181,000 (75th percentile) with top earners (90th percentile) making $192,500 annually across the United States.

Stockbroker Pay Basics

For 2021, BLS says the median pay for securities, commodities, and financial services sales agents came to $62,910 per year. The median value separates the highest-earning half of brokers from the lowest-earning half.

Stockbrokerage can be a lucrative career. Securities, commodities, and financial services sales agents—which includes stockbrokers—earned a median annual wage of $67,480 in May 2022, according to the U.S. Bureau of Labor Statistics (BLS). In contrast, the median salary for all occupations nationwide was $46,310.

The trading environment is a fast-paced, high-intensity workplace and brokers may make more than 100 trades per day, depending on their approach. During trading hours, stockbrokers continually monitor the market and make assessments on trades, whether buying or selling, to maximise profit for their clients.

While ZipRecruiter is seeing salaries as high as $297,427 and as low as $43,593, the majority of salaries within the Nyse Floor Trader jobs category currently range between $62,400 (25th percentile) to $116,400 (75th percentile) with top earners (90th percentile) making $204,170 annually in Manhattan.

On average, a trader makes more money than a broker. Traders typically have higher earning potential due to their ability to take more risks and capitalize on market movements. Brokers, on the other hand, typically earn commissions from their clients for executing trades.

Why do brokers make so much money? ›

Unlike agents, who might receive direct incentives from their affiliated insurers, brokers earn primarily through commissions and fees based on the policies they secure for clients.

Generally, brokerages make money by charging various fees and commissions on transactions they facilitate and services they provide. The online broker who offers free stock trades receives fees for other services, plus fees from the exchanges.

You may face long hours, tight deadlines, high expectations, and intense competition. If you don't manage your stress and prevent burnout, you may suffer from physical, mental, and emotional health issues, as well as lower performance and satisfaction.

Employment of securities, commodities, and financial services sales agents is projected to grow 7 percent from 2022 to 2032, faster than the average for all occupations. About 40,100 openings for securities, commodities, and financial services sales agents are projected each year, on average, over the decade.

Working as a stockbroker sounds like a glamorous career, but the fact is that many first-year brokers drop out of the business because the job usually requires long hours, can be overly stressful, and the business requires a substantial amount of dedication.