What Can I Expect From A Stock Broker Salary?

Written By Admin on Rabu, 01 Februari 2012 | 01.07

By Tyler Jon Youngman


In order to find yourself a top stock broker salary you'll have to jump by way of a few hoops first. To do this, you need to become determined, tenacious and completely dedicated to what you want. There's no time for Mr Nice Guy within this highly competitive career.

Probably not unexpectly, you will need to do your apprenticeship and be content with the more boring and small jobs while you find your feet. This can last for at least four months and you would be smart to compete for a place at a highly respected firm and find the best stock broker you can to learn from.

Eventually, you will need to take the General Securities Registered Representatives examination. Depending on the state you take the exam in, you may need to also take the Uniform Securities Agents State Law Examination in order to register as a stock broker, handle stocks and start earning your stock broker salary.

Apologies, but the exams are not the end. You will likely have an additional two years education inside the firm you work with before that salary becomes worthwhile. At this time, you may wish to take a look at all your options and possibly change direction a little to enhance your prospects.

However, prior to reaching the point when your options are more open, your stock broker salary is going to be purely commission based and paid by the stock brokering firms and investment banks. These commissions can be less than you could expect and come in around $250 to $500 a week.

The good thing is that because you will be paid by commission, finding a trainee placement isn't too difficult. If you are younger, in all probability you'll be able to survive on the lower salary than if you have a family to support. For the company, taking on trainees it isn't an undesirable option as they can quickly see who's going to make it and be worth their investment in training you.

To see how much your stock broker salary could be once your training is complete, just go through the current vacancies wherever you find them to notice the differences and prospects. When you are ready, contact any firms you are interested in and don't just wait for them to advertise. If you are interested, other people will be and a vacancy may never get to the open market!

It is worth considering the way you treat clients while training, as this provides you with good references and contacts. Also, keep your own credit clean as this will reflect your trustworthiness to potential employers and help command a better salary.

When you are newly trained you can expect a starting salary of about $18k in the USA with rapid progression to well over $50k if you are good at your job. In the United Kingdom, the figures vary from 25k to over 100k and more for the high flyers.

As you include the performance bonuses and perks you can acheive as one of the best stock brokers, it is a career worth chasing. The general package which makes up a stock broker salary will needless to say depend on individual performance and your ability to negotiate your own personal worth with an employer.




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