Stock Broker Salary Guide & Career Outlook

The stock broker salary in the United States is $55,313 and in the United Kingdom, it is E91,000 ($99,203). The salary in Australia is AU$65,678 ($49,415) and in New Zealand, it is NZ$57,000 ($39,364). In South Africa, these professionals can expect to make R180,000 and in South Africa, it is Rs 325,000.

This stock broker career salary guide looks at their salary in seven countries presented in tabular format. Following this is a section on how experience and industry affect this job as well as their expected benefits, working hours, and job outlook. After reading this guide, you should have a global understanding of the factors that impact the salary of a stock broker.

How Much Does a Stock Broker Make per Year by Country?

Stock Broker Salary US Canada UK Australia New Zealand India South Africa
Hourly Pay $19.85 C$22.35* ($16.54) E43.75* ($47.69) AU$31.57* ($23.75) NZ$21.50 ($14.85) Rs 156.25* ($2.43) R86.53* ($6.46)
Annual Pay $55,313 C$46,500 ($33,992) E91,000 ($99,203) AU$65,678 ($49,415) NZ$57,000 ($39,364) Rs 325,000 ($5,060) R180,000 ($13,434)

Pay information denoted with a (*) indicates the hourly pay was correlated from the annual salary.

stock broker salary

Stock Broker Salary Influencing Factors

The variation in spelling between stock broker and stockbroker produced different results for each country. The information included below is in accordance with the spelling that had more pay information. All of the data comes from Payscale.

1. Location

How Much Does a Stock Broker Make in the US?

Stock Broker Salary US Per Year Per Hour
Minimum $38,418 $10.85
Maximum $153,302 $60.64
Bonus/Tip $978.00 to $57,207 No additional pay
Overtime No additional pay $25.97-$44.04
Total Pay $39,085 to $198,540

How Much Does a Stock Broker Make in Canada?

Stock Broker Salary Canada Per Year Per Hour
Minimum C$39,000 C$18.75
Maximum C$60,000 C$28.84
Bonus/Tip No additional pay No additional pay
Overtime No additional pay No additional pay
Total Pay C$39,000 to C$60,000

How Much Does a Stock Broker Make in the UK?

Stock Broker Salary UK Per Year Per Hour
Minimum E20,134 E9.67
Maximum E148,994 E71.63
Bonus/Tip E4,500 No additional pay
Overtime No additional pay No additional pay
Total Pay E20,134 to E148,994

How Much Does a Stock Broker Make in Australia?

Stock Broker Salary Australia Per Year Per Hour
Minimum AU$46,000 AU$22.11
Maximum AU$100,000 AU$48.07
Bonus/Tip No additional pay No additional pay
Overtime No additional pay No additional pay
Total Pay AU$46,000 to AU$100,000

How Much Does a Stock Broker Make in New Zealand?

Stock broker Salary New Zealand Per Year Per Hour
Minimum NZ$45,000 NZ$16.00
Maximum NZ$120,000 NZ$24.00
Bonus/Tip No additional pay No additional pay
Overtime No additional pay NZ$36.24
Total Pay NZ$31,743 to NZ$65,724

How Much Does a Stock Broker Make in India?

Stock broker Salary India Per Year Per Hour
Minimum Rs 144,966 Rs 69.69*
Maximum Rs 714,900 Rs 343.70*
Bonus/Tip RS 55,000 No additional pay
Overtime No additional pay No additional pay
Total Pay Rs 144,966 to Rs 868,093

How Much Does a Stock Broker Make in South Africa?

Stock broker Salary South Africa Per Year Per Hour
Minimum R130,000 R62.50*
Maximum R540,000 R259.61*
Bonus/Tip No additional pay No additional pay
Overtime No additional pay No additional pay
Total Pay R130,000 to R540,000

2. Experience

The commerce and securities exchange, in general, values experience. A stock broker salary in India increases from 18 percent below the median to those with entry-level positions to 92 percent above the median for those with more than 10 years of experience. Meanwhile, in the United Kingdom, the high pay is influenced by a higher than normal amount of those with more than 20 years of experience entering their pay information (20 percent). In the United States however, pay increases sharply for the first 20 years of employment and then plateaus at $100,000 dollars. In New Zealand, mid-career stock brokers earn 26 percent above the median.

The highest number of respondents from Australia, Canada, India, the United Kingdom, the United States, and New Zealand had 1 to 4 years of experience. In South Africa, there was an even number of respondents between 1 and 4 years and 5 to 9 years of experience.

3. Industry

In the United States, New York is a mecca of sorts for stock brokers. In fact, the annual salary in New York is 107 percent higher than the national median. The vast majority of stock brokers work in New York City.

The securities industry constitutes 35 percent of the workforce. 32 percent work in depository credit intermediation and 11 percent in various other financial investment activities. There is a huge range of pay between stock brokers who work for a securities and commodities exchange at $141,120 and those who work for depository credit intermediation at $63,750.

A recent trend in the industry is to hire stock brokers to work directly for an e-brokerage firm where they work in a massive call center. This type of business shifts these workers away from New York City.

Schedule & Working Hours

The working schedule for stock brokers is long, stressful, and intense. They need to make quick decisions and balance risk with reward. Travel is an extremely common occurrence for these professionals because the companies they work for have a global presence.

Nearly a third of stock brokers respond that they work more than 40 hours a week. While the typical week may consist of office hours, they also need to work in the evening or weekend depending on their client and the company. If a stock broker works for a call center they will work in shifts because the call center is open 24 hours a day.

Bonuses & Benefits

First of all, the biggest benefit of being a stock broker is the potential amount of bonuses, profit shares, and commissions they receive. These can significantly increase the average salary for a stock broker.

Other benefits are getting to work in a fast-paced and challenging environment. This requires the stock broker to stay current in their professional development. Being a stock broker is stressful, but they frequently have health care coverage and other employee covered benefits such as retirement and investment options.

The table below shows healthcare benefits by country. A (0) means that data was available and no one reported that coverage. A (–) means that no data was available for that point.

Country United States Canada United Kingdom Australia New Zealand India South Africa
Medical 81 100 50 29 60 100
Dental 66 100 25
Vision 52 25 21
None 20 0 50 100 71 40 0

Career Outlook

The demand for stock brokers in the United States is expected to grow 10 percent through the year 2024. Unlike employees who work on the ground floor of many companies, the growth of stock brokers is tied more to the global economy than strictly the United States economy. While a manufacture plant worker in Ohio may lose their job when the company offshores work, the stock broker still plays a vital role for that company.

One area where they have seen less job growth is through floor securities traders. This is because we have learned that computers can complete these jobs faster and more accurately than a person can.

Overall, in the United States, males dominate this profession at 75 percent. However, in New Zealand, the opposite effect is seen from Payscale respondents as 69 percent of their stock broker workforce is female.

Conclusion

Overall, stock brokers are in demand and will face heavy competition in the job market. There are stock brokers all over the world. However, a stock broker career is concentrated in New York City. A stock broker salary is relatively modest. However, additional sources of income such as bonuses and commissions can significantly increase their pay. Another option for you to consider in the financial industry is that of an investment banker.

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