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How Much Money Do Stockbrokers Make

By Stelian Olar, Updated on: Feb 10 2025.

Trading stocks is often seen as a lucrative career path in the financial industry.

But how much do stock brokers make in terms of stock broker salaries and average salary for a stock broker in the United States?

Nationally, the average stock broker salary sits around $82,640, with a range typically between $74,112 and $88,854. (Source: Salary.com)

However, this is just a starting point because the actual stock broker salary you can earn can vary widely depending on several factors, including:

• Years of experience,
• Geographical location,
• Employer,
• Skills,
• Education,
• Performance.

While knowing what is a stock broker salary and how much does a stock broker make is a helpful benchmark, it's important to remember that salary is just one piece of the puzzle.

The lowest 10% of stockbrokers earned less than $32,000 per year, while the highest 10% earned over $208,000 annually – according to the U.S. Bureau of Labor Statistics. Generally, the stockbroking salary starts lower for beginners and increases as brokers gain more clients and years of experience in the field. Many earn a base salary plus commissions on trades, so their total compensation is heavily influenced by sales and performance.

Working for a major Wall Street firm or in a major metro area like New York City tends to equate to higher average salary in the financial industry.

While six-figure stock broker salaries are possible for the most successful stockbrokers, the average stock broker salary is around $64,000 according to government data. But for those willing to put in long hours and constantly expand their book of business, the financial rewards of guiding clients through the stock market can be substantial. Stock trading may not guarantee you a spot among the top 1%, but the earning potential is strong for those who excel in this high-pressure, sales-driven financial field.

Average Salary for a Stock Broker in 2024

To give you the most accurate picture of how much money do stockbrokers make in 2024, let's dive into data from various prominent job posting services: 

There's some discrepancy between the services, with Salary.com and Glassdoor showing higher stock broker average salary than Indeed and ZipRecruiter which can be attributed to:

• Methodology: Different services use varying algorithms and data sources.
• Sample size: Some might focus on broader datasets, while others might analyze specific regions or positions.

Glassdoor's higher range reflects the potential for significant earnings for experienced and successful stockbrokers in major financial hubs.

Overall, based on these services, a reasonable estimate for the average stock broker salary in 2024 is around $75,000 to $85,000.

What Is the Highest Salary of Stock Broker in 2024?

Pinpointing the absolute highest salary for a stockbroker in 2024 is tricky, as individual earnings can vary dramatically from as low as $500,000 to multiple $1 million. However, we can explore how much do stock brokers make a year as a top earner to get a good sense of the potential:

Executive-level stockbrokers:

Working at prestigious firms like Goldman Sachs or Morgan Stanley, these individuals can rake in millions annually through a combination of base salary, bonuses, trading fees, and profit-sharing. Estimates put top earners in this category at $500,000 or even several times that much.

Highly successful independent brokers:

With exceptional performance and a large, loyal client base, independent brokers and financial advisors can earn significant commissions, potentially exceeding even executive-level salaries. The stockbroker on wall street salary at smaller boutique firms or solo practitioners could see annual earnings surpassing $1 million.

Specialized niches:

Brokers specializing in high-net-worth individuals (HNWIs) or specific asset classes like private equity, mutual funds or real estate can command higher trading fees and commissions, leading to potential annual salaries in the seven-figure range.

It's important to note that these are just estimates for how much do stockbrokers make, and the actual stock brokers salary you can earn as a stock broker will depend on your individual circumstances. If you're interested in pursuing a career as a stock broker, it's important to do your research and understand the factors that can impact your earning potential.

See below…

What Factors Affect the Salary of Stockbrokers

There are several factors that impact how much money does a stock broker make. Education level plays a role, with most holding bachelor degrees in finance or economics. Obtaining certifications like the Series 7 and Series 63 to sell stocks and securities also boosts income potential.

Years of experience is key, as veteran brokers typically take home much higher stockbroker salaries after establishing a solid client base.

The type of brokerage firm a stock broker works for can also impact their salary. Brokers working for large investment banks or hedge funds typically earn more than those working for smaller firms or discount brokerages.

Note* A discount brokers are financial institutions that allows you to buy and sell investments like stocks, bonds, and ETFs at a lower cost than traditional full-service brokers. They typically charge lower commissions, or fees, for each trade you make or they are commission free.

Performance: Some stock brokers earn a portion of their income through commissions on the trades they execute for their clients. Brokers who consistently generate high returns for their clients can earn significantly more than those who do not.

Next, lets see how much money does a stock broker make with no experience?

See below…

Entry Level Stock Broker Salary

Here's a general overview of the entry level stock broker salary in the US:

• Median annual salary: $53,300 (ZipRecruiter, December 2023)
• Hourly wage range: $13.94 - $52.16 (ZipRecruiter, December 2023)
• 25th percentile: $39,500 (ZipRecruiter, December 2023)
• 75th percentile: $85,000 (ZipRecruiter, December 2023)

For a more personalized estimate:

• Use salary calculators on these services, inputting your specific experience, location, and desired job title.
• Research how do stock brokers make money for specific firms or regions you're interested in.
• Network with current stockbrokers to get firsthand insights into salary ranges and the average salary of stockbroker.

Average Salary of a Stockbroker on Wall Street

The average salary of a stockbroker on Wall Street can vary depending on several factors, including their experience, the type of firm they work for, and their performance. However, here's a general overview:

• Median annual salary: $101,533 (ZipRecruiter, January 2024)
• Hourly wage range: $48.81 (ZipRecruiter, January 2024)
• 25th percentile: $57,500 (ZipRecruiter, January 2024)
• 75th percentile: $181,000 (ZipRecruiter, January 2024)

Is Stockbroking a Stressful Job?

While the potential to earn a high stock broker salary attracts many to the field, it's important to note that working as a stockbroker can be an extremely stressful occupation. The job involves high pressure to perform, long hours, and constantly competing against other firms to court new clients and execute advantageous trades.

So, do stockbrokers make a lot of money?

It's certainly possible, but it's not guaranteed.

Stockbrokers need to be comfortable working under tight deadlines and thinking quickly on their feet to take advantage of opportunities in the market.

They are responsible for making investment recommendations and managing substantial amounts of client money which can take a mental and emotional toll over time.

Ultimately, whether or not stockbroking is a stressful job depends on the individual. If you are someone who thrives in a fast-paced environment and enjoys a challenge, then you may find stockbroking to be a rewarding career. However, if you are someone who prefers a more relaxed work environment and has a low tolerance for stress, then stockbroking may not be the right fit for you.

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