Financial Services Brokers

Trainee brokers usually receive a salary until they develop a client base. In October 2024, ZipRecruiter.com reported that the median annual salary for broker trainees was $43,530 in 2024. Once the financial services broker has acquired a sufficient number of accounts, he or she works solely on a commission basis, with fees resulting from the size and type of security bought or sold. Some firms pay annual bonuses to their brokers when business warrants. Since earnings can fluctuate greatly based on the condition of the market, some brokers may find it necessary to supplement their income through other means during times of slow market activity.

According to the U.S. Department of Labor, the median earnings for securities, commodities, and financial services sales agents (a career category that includes brokers) were $76,900 a year in May 2023. The lowest paid 10 percent earned less than $45,420, and the top 10 percent earned more than $212,180 per year. Fifty percent of securities, commodities, and financial services sales agents earned between $50,080 and $127,670.

Benefits for full-time workers include vacation and sick time, health, and sometimes dental, insurance, and pension or 401(k) plans. Self-employed financial services brokers must provide their own benefits.