How much do stockbrokers make in Indiana?
Stockbrokers here earn a bit lower than the rest of the nation. However, for those who pursue designations like Certified Financial Planner (CFP) can increase their pay and value.
Also, more experienced brokers who’ve gained clientele over the years can typically earn three figure incomes.
Experience and knowledge are key to accumulating wealth in this state. Find out the average stock broker salary in Indiana below.
So, how much do stockbrokers make in Indiana?
The Average Stock Broker Salary in Indiana is $49,570
The Top 3 highest medians (Yearly salaries)
- Muncie, IN MSA – $84,530
- Evansville, IN-KY MSA – $83,720
- Bloomington, IN MSA – $71,390
The 3 Lowest medians
- Southwest/ Southeast Indiana BOS – $34,190
- Northwest Indiana BOS – $37,810
- Elkhart-Goshen, IN MSA – $38,890
How Much Do Stockbrokers Make in Indiana
Median hourly rates for Indiana stockbrokers were $23.83 in 2014. Those in the 90th percentile earned an hourly wage of $77,87.
Registered representatives who seek affluent clients can earn considerably more through every commission earned from trading.
How Much Do Stockbrokers Make in Indiana:
Stock Broker Salary | U.S. Bureau of Labor Statistics
How To Become a Stockbroker in Indiana
(1) – Education
In the past, a college degree wasn’t necessary to becoming a stockbroker. As long you had a good method of predicting the markets, and salesmanship qualities, you were hired. However, now formal education is a must in this current job market.
Receiving a degree from an accredited university in Finance, Business Management, or Accounting will help you gain knowledge in the financial industry.
(2) – Licensing
The Financial Industry Regulatory Authority (FINRA) requires those wishing to become registered representatives be sponsored by a member firm to take the Series 7 Exam. The cost is $305 and will be deducted out of the firms Flex Funding Account.
The Series 63 or 66 is required as well.
(3) – Registration
Broker-dealer agents, also known as stock-brokers, are required to be registered with the Indiana Securities Bureau. Form U4 should be filed through FINRA’s Central Registration Depository (CRD).
- Learn more: how to become a stockbroker here
Average Salary of Financial Careers in Indiana
- Advertising Sales Agent – $41,410
- Credit Analysts – $55,530
- Insurance Sales Agents – $45,810
- Financial Analysts – $63,930
Employment Opportunities in Indiana