How much do stockbrokers make in Tennessee?
Registered representatives in TN receive a median hourly wage of $29.26 IN 2014.
Those in the 75th percentile earned $57.33 and 90th percentile agents were compensated at $90.00 or more per hour.
Below you’ll find the average stock broker salary in Tennessee along with the highest and lowest paying areas here.
So, how much do stockbrokers make in Tennessee?
The Average Stock Broker Salary in Tennessee is $60,860
The Top 3 highest medians (Yearly salaries)
- Chattanooga, TN-GA MSA – $86,420
- Memphis, TN-MS-AR MSA – $82,340
- Johnson City, TN MSA – $75,570
The 3 Lowest medians
- Clarksville, TN-KY MSA – $31,780
- Knoxville, TN MSA – $36,750
- Jackson, TN MSA – $37,090
How Much Do Stockbrokers Make in Tennessee (Annual wages and Employment)
Registered representatives in Tennessee can earn money from commissions for each trade completed on their client’s behalf.
They can also earn from bonuses received through bringing extra revenue to their firm or “netting new money” – a term that represents increasing clientele. Many also receive a base salary.
How much do stockbrokers make in Tennessee:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in Tennessee
[A] – Education
The path to a successful stockbroker career begins with a college degree. Developing analytical skills and taking courses in statistical and mathematical studies will help better prepare you for the career. College degrees including Finance, Accounting, Business or Economics are all recommended for those interested in the stock broker profession.
[B] – Licensing
Formal licensing is required before broker-dealer agents can trade securities on behalf of clientele. The Series 7 License is mandated and cannot be taken unless sponsored by a FINRA member firm, a self-regulatory organization or exchange. The fee is $305. Additionally, the Series 63 ($125) or 66 ($155) exams are necessary as well.
[C] – Registration
In the state of Tennessee, stockbrokers must also be registered and licensed by the Tennessee Department of Commerce and Insurance in the Securities Division. If apart of a FINRA member firm, your firm can submit Form U4 through the Central Registration Depository (CRD) and a fee of $50 will be taken out of their Flex Funding Account.
If not apart of a FINRA member firm, you must send it to the Securities Division by mail along with the $50 fee.
Average Salary for Similar Occupations in Tennessee
- Personal Financial Advisors – $72,490
- Economists – $79,620
- Brokerage Clerks – $46,410
- Accountants – $58,910
Current Job Postings in Tennessee: