How much do stockbrokers make in South Carolina?
The median hourly rate for registered representatives in South Carolina was 31.09 in 2014.
The highest paid category were those in the 90th percentile who earned $81.30. And 75th percentile earners received $51.81 an hour according to the BLS.
Much like other states in the US, South Carolina has regions that are more lucrative for registered representatives because they house large financial firms and high-income residents.
So how much do stockbrokers make in South Carolina?
The Average Stock Broker Salary in South Carolina is $64,660
The Top 3 highest medians (Yearly salaries)
- Charlotte-Gastonia-Rock Hill, NC-SC MSA – $82,660
- Greenville-Mauldin-Easley, SC MSA – $79,100
- Charleston-North Charleston-Summerville, SC MSA – $74,350
The 3 Lowest medians
- Spartanburg, SC MSA – $47,910
- Augusta-Richmond County, GA-SC MSA – $47,940
- Upper Savannah South Carolina BOS – $48,800
How Much Do Stockbrokers Make in South Carolina
South Carolina’s state average falls short of the national median by $7,410. Further, the lowest in the state was recorded as being $32,410 which is just about the minimal average for stockbrokers in the nation.
The highest paid stock broker in South Carolina receives an $169,100. It appears that the starting wages for junior stock brokers are reasonable and well within the range of what other states pay.
How much do stockbrokers make in South Carolina (2011-2014):
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in South Carolina
[A] – Education
Learning how to become a stockbroker in South Carolina requires a lot of education and training. The first step in being a broker involves attaining a degree at an accredited college or university.
Taking courses in Risk Management, Corporate Finance and Financial Modeling would all be helpful. Also, Communications and Ethics courses are recommended as well.
During college, there’ll be opportunities to intern at brokerage firms, join college groups and attending conferences that can help you gain exposure to the field.
[B] – Licensing
After college, finding employment at a FINRA-member brokerage firm, a self-regulatory organization or an exchange will allow them to sponsor you to take the Series 7 exam. This is required to be able to trade securities for clients. Once you’ve passed the exam, you’ll need to take the Series 63 or 66 exam as well.
[C] – Registration
The next step would be to get registered by the South Carolina Office of the Attorney General with the Securities Division. If apart of a FINRA-member firm, Form U4 should be completed and submitted to the Central Registration Depository (CRD) and a $115 fee will be taken out of a Flex Funding Account.
If not apart of a FINRA Member firm, simply complete the form and send it by mail to their office along with the $115.
Average Salary for Similar Occupations in South Carolina
- Brokerage Clerk – $44,310
- Personal Financial Advisors – $57,780
- Credit Counselors – $35,470
- Tax Examiners – $38,100
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