The public perception of stockbrokers is that they earn fantastic sums of money for doing what they do. But is this true – just how much do stockbrokers earn? Let’s take a look, using official government statistics.
Just how much do stockbrokers earn?
According to the U.S. Bureau of Labor Statistics (BLS), as of May 2015 the average salary for Securities, Commodities and Financial Sales Agents was $102,860, which corresponds to an hourly wage of $49.45.
The median pay for people with these occupations was $71,550 per year. This equates to a median hourly wage of $34.40 per hour. The middle 50% of those with these jobs earned between $40,410 and $135,430.
Also according to the BLS, the top 10% highest earners among Securities, Commodities and Financial Sales Agents earned more than $187,200, while the bottom 10% earned less than $32,680 as of May 2015.
In addition, the number of such jobs was predicted to grow by 10% from between 2014 and 2024.
New York had the highest number of such jobs with some 56,490 and a mean annual salary of $151,520.