Industry Earnings
Most workers in the securities, commodities, and other investments industry are paid a salary on an annual or a weekly basis. In May 2004, the average weekly earnings of nonsupervisory workers in the industry were $921 compared with $529 in all industries combined. Median earnings for the largest occupations in the securities, commodities, and other investments industry in May 2004 are presented in table 2.
| Occupation | Securities, commodities, and other investments | All industries |
|---|---|---|
General and operations managers | $49.65 | $37.22 |
Computer systems analysts | 32.09 | 31.95 |
Accountants and auditors | 24.35 | 24.41 |
Insurance underwriters | 23.37 | 23.34 |
First-line supervisors/managers of office and administrative support workers | 23.20 | 19.72 |
Claims adjusters, examiners, and investigators | 21.33 | 21.26 |
Insurance sales agents | 20.14 | 20.06 |
Executive secretaries and administrative assistants | 17.67 | 16.81 |
Customer service representatives | 14.12 | 12.99 |
Insurance claims and policy processing clerks | 14.02 | 14.06 |
Earnings of securities, commodities, and financial services sales agents—especially those working for full-service brokerage firms—depend on commissions from the sale or purchase of stocks, bonds, and other securities or futures contracts. Commissions are likely to be lower when there is a slump in market activity. Earnings also can be based on the amount of assets that a broker or portfolio manager has under his or her management, with the broker or portfolio manager receiving a small percentage of the value of the assets.
Personal financial advisors are compensated in a number of ways. Those who manage client's assets usually collect a percentage of the assets as their fees. Others charge hourly fees, and some charge different rates, depending on the type of plan requested. Many receive commissions based on the financial products they sell. Those who work for financial services firms may receive a salary.
For many in the industry, a large part of their earnings come from annual bonuses based on the success of the firm. Profit sharing and stock options also are common. Salaried employees are more likely to receive typical benefits, such as paid vacations, sick leave, and pension plans, than are self-employed workers.