Close
ThinkAdvisor

Portfolio > Asset Managers

Brokerage Managers At Big Banks Do Better

X
Your article was successfully shared with the contacts you provided.

The largest financial institutions are being more generous with brokerage unit executives than typical financial institutions are.

Average compensation for brokerage managers at financial institutions with more than $15 billion in assets has increased 5.8% over the past 2 years, to about $411,000, according to a study written by Andrew Singer and distributed by the Bank Insurance Market Research Group, Mamaroneck, N.Y.

Average compensation for brokerage managers at all financial institutions fell 7.8% over the same period, to about $210,000, Singer writes.

Average compensation was about $378,000 for managers of bank brokerage programs with at least $10 million in brokerage revenue and about $176,000 at programs with less than $10 million in brokerage revenue.

Dedicated Series 7-licensed brokers in banks earned a median income of $100,000, up 3% from $97,500 in 2005.