How Much Do Stockbrokers Make in Pennsylvania?
The Bureau of Labor Statistics reported that registered representatives in PA earned a median hourly wage of $37.44.
Those in the 75th percentile earned $64.23 and 90th percentile sales persons received over $90.00 an hour in 2014.
Stock brokers (also known as securities sales agents) can earn substantially higher incomes in Pennsylvania compared to the national average.
So how much do stockbrokers make in Pennsylvania?
The Average Stock Broker Salary in Pennsylvania is $77,880
The Top 3 highest medians (Yearly salaries)
- Harrisburg-Carlisle, PA MSA – $103,150
- Philadelphia, PA Metropolitan Division – $93,960
- State College, PA MSA – $77,070
The 3 Lowest medians
- Altoona, PA MSA – $30,760
- West Central Pennsylvania BOS – $36,480
- East Central Pennsylvania BOS – $44,640
How Much Do Stockbrokers Make in Pennsylvania (Annual Rates and Employment)
Pennsylvania is home to the Philadelphia Stock Exchange (PHLX), the oldest exchange in the nation built in 1790.
It’s a very sizable options market (3rd largest in the nation), and so brokers who assist investors on trading call and put options can potentially do very well for themselves.
How Much Do Stockbrokers Make in Pennsylvania:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in Pennsylvania
(A) – Education
Education is an important factor when seeking a position as a stockbroker. A degree from either a distance learning post-secondary institution or a university will help you get in the door to a brokerage firm. Degrees in Accounting, Economics, Finance or Business are all recommended.
(B) – Licensing
In order to trade stocks, bonds and call or put options (which you’ll do often at PHLX), one must have the Series 7 License. The brokerage firm, exchange or a self-regulatory organization will sponsor you to take the exam. The fee is $305 and will be withdrawn from a Flex Funding Account.
After passing the Series 7, you must also take the Series 63 or 66 exam to be able to offer financial services in the state of Pennsylvania. The fees are $125 and $155 respectively.
(C) – Registration
Lastly, you must be registered by the Pennsylvania Securities Commission to operate in the state. Form U4 must be completed and submitted to WebCRD (Central Registration Depository).
Salary of Other Finance Occupations in Pennsylvania
- Accountant and Auditors – $63,620
- Economists – $76,170
- Tax Examiners and Collectors – $46,450
- Real Estate Agents – $47,800
Employment Opportunities in Pennsylvania: