How much do stockbrokers make in Minnesota?
According to U.S. Bureau data, stock brokers in Minnesota received a median hourly wage of $32.91 in 2014.
75th percentile agents received $54.08 and 90th percentile brokers earned $89.34.
Details on which areas registered representatives earn the most and least here can be found below. Additionally, information on how to operate as a securities salesperson in Minnesota are included as well.
The Average Stock Broker Salary in Minnesota is $68,460
The Top 3 highest medians (Yearly salaries)
- Minneapolis-St. Paul-Bloomington, MN-WI MSA – $80,240
- Southeast Minnesota (BOS) – $53,640
- Fargo, ND-MN MSA – $51,840
The 3 Lowest medians
- Mankato-North Mankato, MN MSA – $34,650
- St. Cloud, MN MSA – $36,310
- Grand Forks, ND-MN MSA – $37,150
How Much Do Stockbrokers Make in Minnesota? (Annual Rates and Employment)
Registered representatives in this state can earn a comfortable living through commissions, bonuses and base salary. Employment is also quite high compared to other states in the Midwest region.
How much do stockbrokers make in Minnesota:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in Minnesota
[A] – Education
A quality education from a reputable post-secondary institution is crucial in today’s job market. Firms will take preference over those who have earned a bachelor’s degree in anything related to Accounting, Business or Finance. You can learn more here.
[B] – License
In order to trade securities, a Series 7 License must be obtained. This requires sponsorship from a FINRA-member firm, a self-regulatory organization (SRO) or an exchange. A Series 63 or 66 license is required by the state as well.
[C] – Registration
The Minnesota Department of Commerce is the body tasked with licensing stock brokers who wish to operate within this state. Form U4 should be completed and sent via the Central Registration Depository (CRD) along with a $50 fee.
Renewal is required on December 31 with a fee of the same amount.
Average Salary of Other Financial Careers in Minnesota
- Insurance Sales Agents – $55,680
- Real Estate Sales Agents – $36,520
- Financial Analysts – $76,310
- Credit Analysts – $65,680
Employment Opportunities in Minnesota