How Much Do Stockbrokers Make in Michigan

How Much Do Stockbrokers Make in Michigan? The average stock broker salary in Michigan is the fourth lowest among Midwestern states.




How much do stockbrokers make in Michigan?

The median hourly wage in 2014 was $24.89 in this state.

Agents in the 75th percentile earned $45.92 and 90th percentile brokers earned $78.53 an hour.

A stock broker’s pay depends on many different factors including experience, the prevailing economic climate and which firm they choose to work for.

So, how much do stockbrokers make in Michigan?

The Average Stock Broker Salary in Michigan is $51,760

 

average stock broker salary in michigan

The Top 3 highest medians (Yearly salaries)

  • Flint, MI MSA – $81,560
  • Kalamazoo-Portage, MI MSA – $61,980
  • South Bend-Mishawaka, IN-MI MSA – $61,170

The 3 Lowest medians

  • Northeast Lower Peninsula BOS – $31,160
  • Upper Peninsula BOS – $35,990
  • Northwest Lower Peninsula BOS – $39,150

How Much Do Stockbrokers Make in Michigan? (Annual Rates and Employment)

Employment in Michigan has steadily gone down over the past four years. Annual wages, however, have been on an upward trend.

How much do stockbrokers make in Michigan:


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

How to Become a Stockbroker in Michigan

[A] – Education

The very first step in working as a stockbroker in Michigan is to pursue higher education at an accredited institution. Taking courses in Business, Finance, Statistics and Economics will better help prepare you for the career.

[B] – Licensing

And to be able to receive commissions by purchasing securities on behalf of clients, a Series 7 License is required. You’ll also need a Series 66 or 63 license as well.

[C] – Registration

In order to work as a securities sales agent, you must register with the state of Michigan. You can find details on registration here.

Average Salary for Other Finance Occupations in Michigan

  • Real Estate Sales Agent – $38,330
  • Insurance Sales Agents – $44,940
  • Credit Analysts – $48,730
  • Personal Financial Advisors – $62,790

Employment Opportunities in the State of Michigan

average stock broker salary in Michigan How Much Do Stockbrokers Make in Michigan How to Become a Stockbroker in Michigan
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