Annual Income of a Stockbroker
If a fast-paced job in a Wall Street-type environment sounds like an exciting way to spends your days, the job of a stockbroker could be worth looking into. Stockbrokers can earn above average incomes, according to a June 2010 report by Payscale.com, with the opportunity to top $50,000 a year just to start.
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What They Do
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Every day, money is transferred through the U.S. Securities Exchange through stocks, bonds, and mutual funds investments. As a stockbroker, you will act as the sales agent for clients who are looking for smart investments and advice. According to the Bureau of Labor Statistics, stockbrokers send customer orders to the exchange floor and work strictly from commissions. Stockbrokers are required to be licensed and generally hold at least a bachelor's degree. The job outlook for stockbrokers is good, with a 9-percent increase in openings expected between 2008 and 2018.
Pay By Experience
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Starting salaries for stockbrokers often vary, according to a June 2010 report by Payscale.com. Salaries for those professionals can range between $24,669 and $50,421 each year. After you have gained at least one year of experience as a stockbroker, your earnings could range between $34,789 a year and $49,901. Stockbrokers who have worked for at least five year are reporting salaries that fall between $40,892 and $96,135 annually. After a decade, stockbrokers surveyed are reporting earnings up to $116,653 a year.
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Employers
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The type of employer you choose as a working stockbroker could also play a role in your overall income potential. According to a June 2010 survey by Payscale.com, professional stockbrokers who are self-employed have some of the highest earning potentials, with salaries falling between $76,302 and $137,569 each year. Using your training as a stockbroker at a private firm also pays a decent wage with those workers reporting earnings between $36,131 and $98,264 each year.
Geography
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The area of the U.S. where you work could also help to determine how much you will earn as a stockbroker. According to a June 2010 finding by Payscale.com, those professionals working in the state of California are earning at least $33,913 a year and up to $37,426 annually. Stockbrokers in Texas are earning up to $66,258 a year. Working as a stockbroker in the state of New York could be your best option when it comes to earnings, with those workers reporting salaries ranging between $47,743 a year and $120,417.
Gender Pay
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According to a June 2010 report, the stock market profession may be one career field where males generally earn higher incomes than their female counterparts. Of the 118 stockbrokers who were surveyed, women are reporting earnings of at least $34,374 a year and up to $44,219 a year. The men who were surveyed however, are reporting much higher income opportunities, earning at least $35,775 on the lower end and up to $72,348 a year at the top of the pay chart.
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