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A broker is a finance professional who manages business transactions. As a broker, you carry out investments such as insurance or real estate deals, liaising between banks and clients. Essentially, your job is to build relationships with customers and negotiate arrangements.

Being a broker is a kind of sales position often considered as a stepping stone toward a supervisor sales role. Brokers work for different industries and are expected to be knowledgeable about the products and services of the company they work for, in order to provide top-notch customer services.

Actually, customer service is the biggest part of the job. Brokers continuously work on relationships with clients, assessing their needs and offering solutions to their problems. The ultimate task, however, is to close deals by aligning the interests of buyers and sellers.

What Does a Broker Do

There are certain skills that many brokers have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed business skills, problem-solving skills and interpersonal skills.

Learn more about what a Broker does

How To Become a Broker

If you're interested in becoming a broker, one of the first things to consider is how much education you need. We've determined that 65.9% of brokers have a bachelor's degree. In terms of higher education levels, we found that 8.7% of brokers have master's degrees. Even though most brokers have a college degree, it's possible to become one with only a high school degree or GED.

Learn More About How To Become a Broker

Career Path For a Broker

In addition to switching up your job search, it might prove helpful to look at a career path for your specific job. Now, what's a career path you ask? Well, it's practically a map that shows how you might advance from one job title to another. Our career paths are especially detailed with salary changes. So, for example, if you started out with the role of account executive you might progress to a role such as manager eventually. Later on in your career, you could end up with the title regional property manager.


Average Salary for a Broker

Brokers in America make an average salary of $124,861 per year or $60 per hour. The top 10 percent makes over $227,000 per year, while the bottom 10 percent under $68,000 per year.
Average Broker Salary
$124,861 Yearly
$60.03 hourly

What Am I Worth?


Roles and Types of Broker

The role of a broker includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general broker responsibilities:

  • Develop and maintain business relationships with financial advisor professionals in the sales territory maintain a high level understanding of db’s wide range of investment products
  • Communicates extensively with customers for inventory needs leverages
  • Market new and renewal business, handling all aspects of the placements from initial market selection through policy delivery to client. Ensure that placements are handled correctly

There are several types of broker, including:

Marketing Representative


Gone are the days of traditional billboards and newsletters. Although these marketing mediums are still present, marketing gurus such as Gary Vaynerchuk and Seth Godin have proven the convergence of social media, influencers, and digital ads in driving today's business growth. Thus, a marketing representative employed today wears many different hats in promoting a business.

Daily, a marketing representative is involved in developing pricing strategies, developing market forecasts, and creating new sales leads. Besides that, they also manage marketing budgets, facilitate promotional campaigns, and produce an annual report for senior management. They assist in marketing training as well as representing the organization's brand at events and trade shows.

Employers require marketing representatives to have a bachelor's degree relating to business with at least one year of relevant work experience. This role earns, on average, $21 per hour and offers opportunities into becoming a marketing director over time.

  • Average Salary: $47,376
  • Degree: Bachelor's Degree

Real Estate Broker


The job of a real estate broker involves property management and marketing. He/She works with clients to buy, sell and rent real estate properties. He/She also finds clients by promoting the brand, networking, advertising, and offering services to prospective parties. The broker serves as an intermediary between buyers and sellers during negotiations over property prices and settlement details. A real estate broker works for a commercial real estate firm or operates a real estate office. As a result, you must have a minimum of an associate's degree in real estate, business, or a related field with at least three years of work experience.

Real estate brokers often need a state-issued real estate broker license to practice. Apart from this, you must possess selling abilities, communication and networking skills, and attention to detail. You must also be conversant with relevant computer software and be self-motivated. A real estate broker earns about $78,102 per year. This varies between $39,000 and $158,000.
  • Average Salary: $80,250
  • Degree: Bachelor's Degree

Licensed Agent


The title 'licensed agent' can refer to many job positions, such as real estate agents, insurance agents, and financial agents. But in general, a licensed agent is someone who has the authorization to act on behalf of a private individual or organization in selling a property, product, or service.

The duties of a licensed agent vary depending on the industry they work in. For example, a licensed real estate agent is responsible for helping sellers sell their properties and buyers find their dream homes. Insurance agents, on the other hand, provide various insurance products to their clients and help them select the right one depending on their needs and objectives.

Most jobs that require one to be a licensed agent also require at least an associate's or bachelor's degree. In terms of work experience, however, employer requirements vary widely between industries. For instance, real estate agents may need to have prior work experience to qualify for a job position, while insurance agents may start fresh from graduation. The salary of a licensed agent is also different for each industry. But generally, a licensed agent earns a base salary and makes additional income from commissions.
  • Average Salary: $42,315
  • Degree: Bachelor's Degree

States With The Most Broker Jobs

Mouse over a state to see the number of active broker jobs in each state. The darker areas on the map show where brokers earn the highest salaries across all 50 states.

Average Salary: Job Openings:

Number Of Broker Jobs By State

RankStateNumber of JobsAverage Salary
3New York90$154,924
10New Jersey34$122,194
11North Carolina32$131,867
34South Carolina5$111,074
37Rhode Island4$126,566
40New Hampshire2$121,645
41New Mexico2$116,843
43West Virginia1$124,316
46North Dakota0$106,397
47South Dakota0$101,234

Broker Education

Broker Majors

31.2 %
9.8 %

Broker Degrees


65.9 %


12.8 %


8.7 %

Top Colleges for Brokers

1. University of Southern California

Los Angeles, CA • Private

In-State Tuition




2. University of Pennsylvania

Philadelphia, PA • Private

In-State Tuition




3. Northwestern University

Evanston, IL • Private

In-State Tuition




4. Villanova University

Villanova, PA • Private

In-State Tuition




5. San Diego State University

San Diego, CA • Private

In-State Tuition




6. Stanford University

Stanford, CA • Private

In-State Tuition




7. Bentley University

Waltham, MA • Private

In-State Tuition




8. New York University

New York, NY • Private

In-State Tuition




9. Arizona State University

Tempe, AZ • Private

In-State Tuition




10. Harvard University

Cambridge, MA • Private

In-State Tuition




Top Skills For a Broker

The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 16.7% of brokers listed brokerage on their resume, but soft skills such as business skills and problem-solving skills are important as well.

  • Brokerage, 16.7%
  • Financial Services, 9.1%
  • Insurance Products, 6.9%
  • Risk Management, 6.1%
  • Client Relationships, 5.9%
  • Other Skills, 55.3%

Choose From 10+ Customizable Broker Resume templates

Zippia allows you to choose from different easy-to-use Broker templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Broker resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.

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Broker diversity

Broker Gender Distribution


After extensive research and analysis, Zippia's data science team found that:

  • Among brokers, 36.2% of them are women, while 63.8% are men.

  • The most common race/ethnicity among brokers is White, which makes up 70.1% of all brokers.

  • The most common foreign language among brokers is Spanish at 56.7%.

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Best States For a Broker

Some places are better than others when it comes to starting a career as a broker. The best states for people in this position are New York, Virginia, Arizona, and North Carolina. Brokers make the most in New York with an average salary of $154,924. Whereas in Virginia and Arizona, they would average $140,118 and $137,645, respectively. While brokers would only make an average of $131,867 in North Carolina, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.

1. New York

Total Broker Jobs: 90
Highest 10% Earn:
Location Quotient:

2. Arizona

Total Broker Jobs: 41
Highest 10% Earn:
Location Quotient:

3. North Carolina

Total Broker Jobs: 32
Highest 10% Earn:
Location Quotient:
Full List Of Best States For Brokers

How Do Brokers Rate Their Jobs?

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Top Broker Employers

Most Common Employers For Broker

RankCompanyAverage SalaryHourly RateJob Openings
1Enlace Chicago$184,889$88.8915
2Tullett Prebon$165,201$79.4292
3BGC Partners$159,882$76.8719
5Traditions of America$154,577$74.3222
7Landstar System$139,598$67.1111
8Century 21 Stores$132,124$63.5211
9Merrill Lynch$131,407$63.1815
10Guardian Life$128,629$61.8411

Broker Videos

Becoming a Broker FAQs

Broker Vs. Salesperson

A broker is a person who represents the parties in a transaction and is licensed to own a firm, while a salesperson is a professional who is licensed to sell products while representing a brokerage firm.

Fiduciary Vs. Broker

A fiduciary is a person that acts in the best interest of their clients, avoids conflicts of interest, and can only buy or sell investments that are in the best interest of their clients. While a broker can recommend investments that they reasonably believe are suitable.

Investment Advisor Vs. Broker Dealer

An investment advisor dispenses investment advice catered towards individual clients' needs and investment accounts, while a broker dealer is in the business of trading securities for its own account or on behalf of its customers.

Broker Associate Vs Broker

A broker associate is an individual licensed as a real estate broker, but who works as a salesperson under a broker or corporation, while a broker is an individual or firm that acts as an intermediary between an investor and a securities exchange.

Broker Vs. Dealer

A broker is an individual or a financial service company that provides the service of enabling the trading of securities for other individuals, while a dealer is an individual or a financial service company that enables the trading of securities for themselves.

Freight Forwarder Vs. Broker

A freight forwarder arranges the shipping of freight for customers, while a broker or freight broker coordinates the connection between shippers and carriers but does not handle freight directly.

Insurance Agent Vs. Broker

An insurance agent is an insurance professional who sells insurance plans to buyers, while a broker is an independent insurance specialist who legally represents buyers.

An insurance agent works for an insurance company and sells that company's insurance products to customers. Insurance agents provide information about available policies from the insurance company to insurance buyers. They have contractual agreements with their company specifying policies they can sell and the compensation the agent receives.

Loan Officer Vs. Broker

A loan officer works for a bank, credit union, or financial institution and will offer programs or rates that are available from that institution only, while a broker works on the borrower's behalf to find the best rate and loan options from multiple institutions.

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