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Financial Services Brokers

Earnings

The wages of trainees and beginners can range from $1,200 to $1,500 per month ($14,400 to $18,000 annually), although larger firms pay a somewhat higher starting wage. In March 2014, Glassdoor.com reported the median annual salary for broker trainees employed in New York City was $36,000. 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.

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