How much do stockbrokers make in New Jersey?
The median hourly wages (2014) for sales persons in New Jersey was $35.94; for 75th percentile earners it was $63.53 and 90th percentile earners received over $90.00.
New Jersey is situated in the financial capital of the nation – nearby NYSE, NASDAQ and home of the National Stock Exchange.
With a strong financial industry, the average stock broker salary in New Jersey provides for a comfortable standard of living.
So, How much do stockbrokers make in New Jersey?
The Average Stock Broker Salary in New Jersey is $78,310
The Top 3 highest medians (Yearly salaries)
- New York-White Plains-Wayne, NY-NJ Metropolitan Division – $147,230
- Trenton-Ewing, NJ MSA – $78,550
- Edison-New Brunswick, NJ Metropolitan Division – $77,770
The 3 Lowest medians
- Allentown-Bethlehem-Easton, PA-NJ MSA – $56,570
- Atlantic City-Hammonton, NJ MSA – $65,590
- Newark-Union, NJ-PA Metropolitan Division – $74,160
How Much Do Stockbrokers Make in New Jersey (Annual Wages and Employment)
Employment for stock brokers is very high in this state. This means the environment is much more competitive than in other areas.
Those who do well in fast-paced and competitive work environments can exponentially increase their earnings.
How Much Do Stockbrokers Make in New Jersey:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in New Jersey
(A) – Education
When deciding to purse a career as a stockbroker, it’s important to seek quality education from an accredited post-secondary institution. Although a degree will not allow you to buy and sell securities for clients, brokerage firms often prefer those who have graduated college. Finance, Economics, Business or Accounting degree paths are all suitable.
A few courses you can expect to take include:
- Marketing – To succeed as a stock broker, you must be able to attract new clients so developing adequate marketing skills is essential.
- Statistics – You’ll need to analyze the markets and give the best recommendations to your clients based on their financial situation and desires.
- Finance –Courses in finance will allow you to acquire knowledge in investment management, securities valuation, various financial markets and risk management
- Economics – Here you’ll learn about government regulation over the financial industry, macro and microeconomics, economic philosophy and more.
(B) – Licensing
Taking and passing the Series 7 Exam will allow you to trade securities (minus commodities and life insurance) for clients. Sponsorship from a brokerage firm that’s apart of FINRA or a self-regulatory organization is required. The cost is $305.
The Series 63 ($125) or 66 ($155) Exam is required as well.
(C) – Registration
Broker/dealer agents have to be registered by the New Jersey Division of Public Affairs in the Bureau of Securities. However, the registration is done by FINRA’s (Financial Industry Regulation Authority) Central Registration Depository (CRD).
Average Salary for Other Finance Careers in New Jersey
- Real Estate Broker – $96,050
- Personal Finance Advisors – $91,200
- Accountants – $75,800
- Financial Analysts – $79,790
Find Employment Opportunities in New Jersey: