How much do stockbrokers make in Massachusetts?
The median hourly wage for agents in this state was $56.54 an hour in 2014.
The best performing agents in the 90th and 75th percentile received well over $90.00 an hour.
Find details on the average stock broker salary in Massachusetts as well as cities that pay the least/most and employment data. Also learn about what’s required to be established as a broker here.
The Average Stock Broker Salary in Massachusetts is $117,610
The Top 3 highest medians (Yearly salaries)
- Boston-Cambridge-Quincy, MA NECTA Division – $121,780
- Barnstable Town, MA Metropolitan NECTA – $106,420
- Framingham, MA NECTA Division – $94,610
The 3 Lowest medians
- Lawrence-Methuen-Salem, MA-NH NECTA Division – $49,310
- Northwest Massachusetts BOS – $56,520
- Springfield, MA-CT Metropolitan NECTA – $63,010
How Much Do Stockbrokers Make in Massachusetts
The average wage for stockbrokers is quite a bit higher than the general population’s average for this state ($44,670).
Plus, they earn quite a bit more than the national average for stockbrokers ($72,070) since the state is home to the Boston Stock Exchange (NASDAQ OMX BX).
So, how much do stockbrokers make in Massachusetts:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in Massachusetts
[A] – Education
Those wishing to become registered representatives in the state of Massachusetts should first pursue a college degree. Any of the following is recommended:
- Consumer and Family Services
Wirehouses typically prefer to hire those who have received a degree so this is the first step to becoming a stockbroker.
[B] – Licensing
Typically, after graduating, seeking stockbroker trainee positions will allow you to study for the Series 7 Exam which requires a sponsor from a FINRA member firm. Additional exams required are the Series 63 or 66.
[C] – Registration
Finally, registering with Massachusetts’ Securities Division is required. The registration fee for broker/dealer agents is $75. This must be renewed each year. Form U-4 must be completed and submitted to the Division.
Average Salary for Similar Occupations in Massachusetts
- Real Estate Brokers – $94,660
- Insurance Sales Agents – $65,380
- Financial Analysts – $84,220
- Personal Financial Advisors – $95,760
Employment Opportunities in Massachusetts