Business & Finance Careers & Employment

What Is the Salary for a Financial Broker?

    Work Experience

    • With one to four years of experience, financial brokers averaged annual salaries of $34,806 to $50,196. After 20 years of experience or more, brokers earned an average of $51,923 to $177,996.

    Employer Type

    • At an average maximum rate of $137,569, financial brokers who were self-employed received the highest rates of pay, but also had the lowest starting salaries at $24,417. Brokers who worked for public companies averaged $36,681 to $68,087, while those at private firms averaged $37,562 to $97,211.

    Education

    • Brokers who held bachelor's of business administration degrees averaged the highest average maximum salaries at $95,000. Those with bachelor of science degrees in business management averaged the lowest average maximums at $40,976.

    Geography

    • With average salaries of $50,759 to $127,171, the highest paid financial brokers worked in the state that is home to Wall Street, New York.

    Benefits

    • In addition to their salaries, financial brokers reported receiving benefits that contributed to their overall compensation, such as an average of 1.3 to 2.5 weeks of paid vacation per year, annual bonuses that average $3,570 to $10,000. Additionally, brokers earn substantial commissions on fees made through their trades and may receive 401k retirement plans and health, life or disability insurance.

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