Salaries for UK Stockbrokers
Stockbrokers try to generate maximum profit for their clients by buying and selling stocks (called shares in the U.K.) and other securities. Some stockbrokers also advise or manage investments. These stockbrokers must be registered by the Financial Services Authority in the U.K. and pass examinations. Successful stockbrokers in the U.K. can expect high salaries and huge performance-based bonuses. But, the pace of the job means it is not for the fainthearted or the indecisive.
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Average Salary
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Salarytrack.co.uk reports that the average salary for stockbrokers in the U.K. as of 2010 is GBP 60,000 per year. Some 75 percent of stockbrokers in the U.K. made more than GBP 35,000 while 25 percent made more than GBP 100,000. Salarytrack.co.uk calculates salaries for jobs with "stockbroker" in the title of Internet job listings.
Bonuses
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Careers Scotland notes that stockbroker performance-related pay and bonuses across the U.K. can be 50 percent to 15 percent of basic salary.
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Benefits
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Stock broker jobs also offer great benefits' packages. PayScale.com notes that some employers may offer stock options, life insurance, gym and health club packages, stock purchase plans and company cars. Most will also offer a pension.
Starting Salary
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Trainee stockbrokers can expect to earn between GBP 24,000 and GPB 35,000 plus bonuses and allowances.
Other Factors
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As well as years of experience, stockbroker salaries in the U.K. can vary according by region. Most opportunities are in London, but there are also stockbrokers working in Birmingham, Edinburgh, Glasgow, Manchester and the Channel Islands. The size of the company may also affect earning potential. Gender is also a factor. PayScale.com reports that 91 percent of U.K. stockbrokers are men, and only 9 percent women. There can be a significant disparity between salaries for female and male stockbrokers.
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References
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