How Much Do Stockbrokers Make in Rhode Island

How Much Do Stockbrokers Make in Rhode Island? The average stock broker salary in Rhode Island came in fifth place for New England States in 2014.




How much do stockbrokers make in Rhode Island?

The median hourly wage for stockbrokers in RI was $30.58.

Those in the 75th percentile received $56.03 and 90th percentile brokers earned $85.03 in 2014.

In addition to a base salary, stock brokers can receive a comprehensive benefits package.

Above and beyond basic fringe benefits, brokerages typically offer gym membership discounts, tuition reimbursement and even subsidize paid parking/mass transit expenses.

So how much do stockbrokers make in Rhode Island?

The Average Stock Broker Salary in Rhode Island is $63,610

 

average stock broker salary in rhode island

The medians in the state (Yearly salaries)

  • Norwich-New London, CT-RI Metropolitan NECTA – $74,330
  • Providence-Fall River-Warwick, RI-MA Metropolitan NECTA – $65,750

How Much Do Stockbrokers Make in Rhode Island

An analysis of the figures below can tell you a lot about what to expect in the Ocean State. First, you’ll notice the huge gap between those in the 25th percentile and median wages.

Yet, there’s also a sizable gap between the median incomes and those in the 75th percentile. Both instances the gap is almost a full amount of what the lower categories earn.

It’s likely the higher earners have more experience and knowledge in the profession – building clientele over the course of their careers.

How much do stockbrokers make in Rhode Island:


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

How to Become a Stockbroker in Rhode Island

[1] – Education

To begin the process of becoming a stockbroker in Rhode Island, seeking a bachelor’s degree from a college, whether online or in class, is required. Many wirehouses only select individuals who have obtained a degree, preferably in Finance or Economics.

While in college, interning, joining college trading groups and attending conferences related to the field will help you when it’s time to find work.

[2] – Licensing 

The next step would be to seek employment at a reputable firm so that they can sponsor you to take the Series 7 Exam. Additionally, a Series 63 (or 66) License will be required as well.  The Series 7 Exam comes with a $305 fee and the Series 63 and 66 has a $125 and $155 fee respectively.

[3] – Registration

Before you can be allowed to service clients, you’ll have to register with the Rhode Island Department of Business Regulation in the Securities Division.

Salary  of Similar Occupations in Rhode Island

  • Accountants – $70,820
  • Real Estate Sales Agents – $40,100
  • Brokerage Clerks – $49,290
  • Financial Examiners – $72,070

Locate Open Positions in Rhode Island:

Average Stock Broker Salary in Rhode Island becoming a stockbroker in Rhode Island how much does a stock broker make in Rhode Island
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