How much do stockbrokers make in South Dakota?
The median hourly wage for securities sales persons in South Dakota was $28.69 in 2014.
Upper categories include 75th percentile earners who received $65.85 and 90th percentile agents who earned over $90.00 an hour.
A look at the average stock broker salary in South Dakota, the highest and the lowest wages across the state, and steps to becoming one here can be found below.
So, how much do stockbrokers make in South Dakota?
The Average Stock Broker Salary in South Dakota is $59,680
The Top 3 highest medians (Yearly salaries)
- Sioux Falls, SD MSA – $75,860
- Sioux City, IA-NE-SD MSA – $51,630
- Rapid City, SD MSA – $50,960
The Lowest median
- Eastern South Dakota BOS – $37,050
How Much Do Stockbrokers Make in South Dakota
Financial investment firms and other businesses in the state of South Dakota are plentiful.
Consequently, it implies that opportunities for security sales agents to establish a lucrative client base here is available.
How much do stockbrokers make in South Dakota (2011-2014):
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in South Dakota
[A] – Education
The process toward a lucrative stock broker career can be long with a lot of educational and licensing requirements. Albeit, a college degree is not necessary to becoming a registered representative, but highly recommended. The reasoning behind this is that brokerage firms will not hire without a degree. Here are a few programs you should look into:
Also, taking advanced mathematics and statistical courses will help you hone key analytical skills beneficial to stockbrokers.
[B] – Licensing
After receiving a degree, you’ll then have a better chance at being hired by a brokerage firm. There you’ll become a junior stockbroker and be able to train and study for the Series 7 Exam. You’ll also want to take either the Series 63 or Series 66 exam as well.
[C] – Registration
Additionally, in order for you to operate in South Dakota is to become registered with the South Dakota Department of Labor and Regulation in the Division of Securities. Form U4 must be submitted to the Division through the Central Registration Depository (CRD) along with a $125 fee. The fee will be taken out of a Flex Funding Account. Registration must be renewed every year on December 31.
Average Salary of Similar Occupations in South Dakota
- Brokerage Clerks – $37,350
- Personal Financial Advisors – $65,950
- Financial Specialists – $59,920
- Accountants – $56,840
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