How much do stockbrokers make in Colorado?
The median hourly rate for registered representatives in 2014 was $22.28. The general population in the state earned $18.28 that year.
Economic conditions are decent in Colorado according to the U.S. Census Bureau.
It was the 12th wealthiest state in 2014 with a median household income of $61,303 a year; an unemployment rate of 5% and a poverty rate of 12% – 13th lowest nationally.
View details on employment, median wages over selected years and which areas of Colorado pay agents the most.
The Average Stock Broker Salary in Colorado is $46,340
The Top 3 highest medians (Yearly salaries)
- Northcentral Colorado BOS – $75,260
- West Colorado BOS – $67,810
- East and South Colorado BOS – $63,950
The 3 Lowest medians
- Greeley, CO MSA – $38,040
- Colorado Springs, CO MSA – $38,840
- Fort Collins-Loveland, CO MSA – $39,090
How Much Do Stockbrokers Make in Colorado
The salary for stock brokers in the 10th percentile (2014) in Colorado was $28,840 whereas the highest paid brokers (90th percentile) earned a salary of $158,030.
Generally, stockbroker trainees/junior stockbrokers will be at the lower end of income levels for this profession.
However, the longer they stay in the field attracting more clients, the higher their income levels will be. This will provide a greater standard of living.
How much do stockbrokers make in Colorado:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
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How to Become a Stockbroker in Colorado
[A] – Education
Taking courses in Finance, Economics and Business are recommended when pursuing a career as a registered representative. Attaining a post-graduate degree like an MBA or Masters in Finance would also be helpful when it comes to advanced placement.
Also reading publications and magazines like the Wall Street Journal would be beneficial as well.
[B] – Licencing
The only license required by this state is the Series 7 License.
Once hired by a brokerage house that’s a member of FINRA, you’ll have four months to study and prepare for the exam.
Sponsorship is required and the fee is $305 which will be deducted out of the firms Flex-Funding Account.
[C] – Registration
The state of Colorado mandates all sales representatives be registered before servicing clients. Form U4 should be completed and submitted, along with a $16 fee, via WebCRD (Central Registration Depository).
Find more information at the Colorado Department of Regulatory Agencies website.
Median Incomes for Related Careers in Colorado
- Brokerage Clerks – $48,120
- Personal Financial Advisors – $76,750
- Financial Analysts – $74,920
- Insurance Sales Agents – $45,200
Employment Opportunities in Colorado: