How much do stockbrokers make in Texas?
According to the Bureau of Labor Statistics (2014), broker/dealer agents had a median hourly wage of $24.54.
Those in the 75th percentile earned $52.26 and 90th percentile agents received over $90.00 an hour.
With the Texas Workforce Commission predicting a 33.5% increase in jobs for Personal Financial Advisors (a designation stockbrokers can obtain) from 2012 to 2022, the state of Texas might just be ripe for business.
Plus, with no state income tax, the average stock broker salary in Texas can be enjoyed sooner than in comparable states with an income tax.
So, how much do stockbrokers make in Texas?
The Average Stock Broker Salary in Texas is $51,030
The Top 3 areas with highest medians in Texas (Yearly salaries)
- Waco, TX MSA – $116,010
- Tyler, TX MSA – $96,370
- Central Texas BOS – $93,740
The Top 3 areas with lowest medians in Texas
- McAllen-Edinburg-Mission, TX MSA – $37,560
- Brownsville-Harlingen, TX MSA – $38,050
- Laredo, TX MSA – $38,280
How Much Do Stockbrokers Make in Texas (Employment & Annual Wages)
Even though the security sales agent occupation is a lucrative venture, it’s also very competitive and so can be challenging for some.
In order to succeed you must have adequate education, be able to network and possess strong analytical/communication skills.
View the table below which represents annual wages between 2011 and 2014 in addition to employment data.
How Much Do Stockbrokers Make in Texas:
Stock Broker Salary | Source: U.S. Bureau of Labor Statistics
How to Become a Stockbroker in Texas
(1) – Education
The steps to learning how to be a stockbroker in Texas include receiving a good education from an accredited post-secondary institution. You’ll want to take courses in:
- Risk Management
- Investment Management
- Corporate Finance
You can pursue degree programs related to Finance or Business and intern while in college to help develop experience and networking opportunities.
(2) – Licensing
After obtaining a degree, you can begin finding work as a broker in the state of Texas. If you join a FINRA member firm, a self-regulatory organization or an exchange, they’ll sponsor you to take the Series 7 Exam. The fee for this exam is $305. You also must take the Series 63 ($125) or the Series 66 ($155) exam.
(3) – Registration
Stock brokers who wish to solicit for clients in the state of Texas have to be registered with the Texas State Securities Board. Form U4 should be completed and filed which will register you in the state. The fee is $35 and will be deducted from a Flex Funding Account in the Web-CRD (Central Registration Depository).
Average Salary for Similar Occupations
Here is salary information for similar professions in the state of Texas:
- Financial Analysts – $77,450
- Personal Financial Advisor – $70,970
- Financial Examiner – $70,660
- Brokerage Clerks – $50,490
Available Career Placements in Texas: