How Much Do Stockbrokers Make in Illinois

How Much Do Stockbrokers Make in Illinois? Of all Midwestern states, the average stock broker salary in Illinois ranks 2nd highest for 2014.

How much do stockbrokers make in Illinois?

According to BLS data (2014), the median hourly wage for broker/dealer agents (a.k.a. stockbrokers) was $34.51.

Other income categories include those in the 75th percentile who earned $66.95 and 90th percentile who received over $90.00.

The data below shows information on the highest and lowest medians across the state and employment data.

So, how much do stockbrokers make in Illinois?

The Average Stock Broker Salary in Illinois is $71,770

How Much Do Stockbrokers Make in Illinios
The Top 3 highest medians (Yearly salaries)

  • West Central Illinois BOS – $93,170
  • Lake County-Kenosha County, IL-WI Metropolitan Division – $82,290
  • Chicago-Joliet-Naperville, IL Metropolitan Division – $72,860

The 3 lowest medians

  • Peoria, IL MSA – $38,240
  • Champaign-Urbana, IL MSA – $39,140
  • Northwest Illinois BOS – $42,750

How Much Do Stockbrokers Make in Illinois (2011 – 2014)

Incomes and employment are relatively high in Illinois. A strong financial industry means great financial potential and higher competition.

How much do stockbrokers make in Illinois:

Stock Broker Salary | Source: U.S. Bureau of Labor Statistics

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How to Become a Stock Broker in Illinois

How to Become a Stockbroker in Illinois

[1] – Education

In order to be a stock broker in the state of Illinois, you’ll need to pursue degree fields related to any of these subjects:

  • Economics
  • Business Administration
  • Finance
  • Accounting

Once you have a degree, you can apply for a job as a stock broker trainee to learn the ins and outs of prospecting, servicing clients and selling securities.

[2] – Licensing

You’ll also need to take the Series 7 General Securities Representation Examination which allows you to sell and purchase securities on behalf of your clients in addition to the Series 63 or 66 exam. These should be taken at a Pearson or Prometric testing center near you in Illinois.

Your brokerage firm that you’ve been hired into or a Self-Regulatory Organization (SRO) like the Chicago Stock Exchange will sponsor you to take the Series 7.

[3] – Registration

As with most states, Illinois requires stock brokers to be registered with the Illinois Securities Department.

To do this you must file Form U4, or the Uniform Application for Securities Industry Registration or Transfer, via the Central Registration Depository (CRD).

A filing fee of $150 will be required plus a renewal fee of the same amount. For firms not members of FINRA, Form U4 must be filed directly with the secretary of state in Illinois.

Average Salary for Similar Occupations

Below is salary information on other careers that are in the finance industry:

  • Accountants – $65,970
  • Real Estate Brokers – $58,840
  • Personal Financial Advisors – $75,020
  • Brokerage Clerks – $45,240

Career Listings in Illinois:

Average Stock Broker Salary in Illinois Chicago Stock Exchange How Much Do Stockbrokers Make in Illinois Illinois Securities Department
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