How much do stockbrokers make in Maryland?
The median hourly wage (2014) for stockbrokers in Maryland was $31.61.
The highest paid agents in the 90th percentile earned over $90.00 an hour and 75th percentile brokers received $57.84.
Find the average stock broker salary in Maryland below:
The Average Stock Broker Salary in Maryland is $65,750
The Top 3 highest median (Yearly salaries)
- Wilmington, DE-MD-NJ Metropolitan Division – $74,820
- Washington-Arlington-Alexandria, DC-VA-MD-WV Metropolitan Division – $72,440
- Bethesda-Rockville-Frederick, MD Metropolitan Division – $71,730
The 3 Lowest medians
- Hagerstown-Martinsburg, MD-WV MSA – $61,620
- Baltimore-Towson, MD MSA – $63,900
- Salisbury, MD MSA – $64,610
How Much Do Stockbrokers Make in Maryland
Median annual wages for registered representatives dropped significantly between 2012 and 2013. This is perhaps due to the stalled economic growth in 2013 according to the Bureau of Economic Analysis.
Maryland was third from the bottom when it came to weak GDP that year. Washington D.C. and Alaska came in last. They both fell back .5 and 2.5 percent respectively.
How Much Do Stockbrokers Make in Maryland:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
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How to Become a Stockbroker in Maryland
Stock brokers in Maryland have to be registered with the Attorney Generals’ Division of Securities Office before soliciting for clients. Additionally, you require a duly registered firm that’s compliant with the law to sponsor you for the Series 7 Licensing Exam.
In this state, the Series 63 or 66 Exams are not required for stockbrokers.
In order to become hired as a junior stockbroker at a firm, seeking a college degree in Finance, Economics, Business or a related field is necessary.
Although obtaining a degree will not allow you to trade securities for clients (being licensed permits that), it’ll help you learn about financial markets and give you experiences during internships.
It’s encouraged to take courses like:
- Financial Trading Strategy and Risk Management
- Options and Futures
- Investments and Portfolio Management
These courses, among others, will allow you to be more effective for clients.
Average Salary for Other Finance Careers in Maryland
- Brokerage Clerks – $48,950
- Financial Analysts – $76,070
- Economists – $113,900
- Credit Counselors – $43,920
Employment Opportunities in Maryland: