Salary

Broker Manager Salary: What You’ll Make and Why

Broker managers make around $58,692 to $128,924 on average in the US, depending on experience, location, skills, and other factors.

According to various salary aggregate websites, a broker manager’s salary in the US ranges between $58,692 and $128,924, with an average salary of $85,983. As of July 2022, the base salaries for broker managers are listed as follows:

PayscaleZipRecruiterIndeedSalary.comGlassdoor
$78,611$58,692$74,324$89,362$128,924

Keep in mind: Salary aggregate websites typically rely on data submitted anonymously by individuals using their site. Some websites may have received larger amounts of data of either higher or lower than average salaries, which may affect the site’s calculated average.

Read more: What Is a Broker Manager? How to Become One

What influences a salary?

The salary of a Broker Manager is determined by a number of factors, including education, experience, and job location. In this article, we will take a closer look at how these factors impact salary.

Years of experience

Salary increases are generally tied to your experience level. In general, the more years you spend working as a broker manager, the more you can expect to earn. Here’s how experience can impact your broker manager salary, according to the Bureau of Labor Statistics and the National Compensation Survey.

Level of experienceSalary
Entry-level (less than 1 year)$37,441
Early career (1 to 4 years)$51,741
Mid career (5 to 9 years)$70,423
Experienced (10 to 19 years)$106,972
Late career (20+ years)$167,020
Location

Where you live can also impact how much you can make as a broker manager. Typically, working in a large metropolitan area correlates to a higher salary, as well as a higher cost of living.

Here is a list of some major cities with their corresponding average broker manager salary according to the Bureau of Labor Statistics.

CityAverage Salary
New York City, NY$109,610
San Francisco, CA$107,585
Washington DC, DC$104,931
Boston, MA$99,666
Seattle, WA$97,588
Las Vegas, NV$71,681
Nashville, TN$71,212
Miami, FL$65,046
Washington DC, DC$64,099
Atlanta, GA$52,324

How does this compare to similar jobs?

Here’s how a broker manager’s salary stacks up against similar jobs.

Related JobsAverage Salary
Trader$89,937
Stockbroker$66,232
Wealth Manager$104,714
Financial Planner$69,180
Portfolio Manager$80,252
Financial Analyst$67,900
Investment Banker$82,561
Financial Advisor$70,482
Investment Manager$86,381

How to increase your broker manager salary

Now that you have a better idea of what you could expect to earn as a broker manager, let’s look at ways to boost your salary.

1. Strengthen your skills

Pursuing and improving in-demand skills could make you more competitive for promotions and higher-paying positions. These skills include:

  • Financial Analysis: Understand financial statements and use them to inform investment decisions
  • Asset Allocation: Determine how to allocate assets among different investments
  • Risk Management: Manage risk by creating diversified portfolios and monitoring investments
  • Compliance: Ensure that the brokerage firm complies with all applicable laws and regulations
  • Customer Service: Provide excellent customer service to clients and resolve any complaints or concerns
2. Grow your network

A broker manager’s job is to oversee a team of stockbrokers and ensure they are meeting performance goals. One way to increase your salary as a broker manager is to grow your network. This can be done by attending industry events, or by joining relevant professional organizations. By expanding your network, you will have access to more job opportunities and can negotiate for a higher salary.

3. Maintain a consistent performance

Your salary as a broker manager is likely to be based, at least in part, on the performance of your team. Make sure that you are consistently meeting or exceeding your goals, and that your team is doing the same. This will show that you are a valuable asset to the company, and that you are worth a higher salary.

Article Sources

1. US Bureau of Labor Statistics. “National Compensation Survey, https://www.bls.gov/ncs/.” Accessed July 2, 2022.

2. US Bureau of Labor Statistics. “Occupational Employment and Wages, https://www.bls.gov/oes/current/oes131011.htm.” Accessed July 2, 2022.

3. Payscale. “Broker Manager Salary, https://www.payscale.com/research/US/Job=Broker_Manager/Salary.” Accessed July 2, 2022.

4. Ziprecruiter. “Broker Manager Annual Salary, https://www.ziprecruiter.com/Salaries/Broker-Manager-Salary.” Accessed July 2, 2022.

5. Indeed. “Indeed Salary Finder, https://www.indeed.com/career/salaries.” Accessed July 2, 2022.

6. Salary.com. “Broker Manager Salary, https://www.salary.com/research/salary/recruiting/broker-manager-salary.” Accessed July 2, 2022.

7. Glassdoor. “Broker Manager Salaries, https://www.glassdoor.com/Salaries/broker-manager-salary-SRCH_KO0,14.htm.” Accessed July 2, 2022.

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