Financial Advisor Salary in Maryland
The U.S. Department of Labor, Bureau of Labor Statistics (BLS) recorded 3,030 personal financial advisors working in Maryland as of May 2010. This report showed that the annual mean wage of Maryland’s personal financial advisors was $86,050. The highest-paid personal financial advisors in Maryland were in the Washington, D.C./Arlington, VA/Alexandria, VA metropolitan area, where they earned an average of $104,560.
The Balitmore-Towson area, which had the greatest number of personal financial advisors, is also where the highest average salaries were found. Here financial advisors earned a yearly mean wage of $85,280. In the Upper Eastern Shore nonmetropolitan area, including the towns of North East, Elkton, and Bel Air, the average annual salary was $72,100; and in the Bethesda-Frederick-Gaithersburg area the average was $91,730.
Stockbroker Salary in Maryland
According to a June 2010 report released by the Maryland Department of Labor, Licensing and Regulation’s Office of Workforce Information and Performance, there were 3,070 broker-dealer agents employed in Maryland. These stockbrokers earned an average annual salary of $96,925 in 2010, during which time the median wage was $78,750.
Life/Annuity Producer Salary in Maryland
According to the U.S. Bureau of Labor Statistics there were 5,560 insurance sales agents in Maryland who earned an average of $64,370 in 2010. At 3,300, the Washington, D.C./Arlington, VA/Alexandria, VA metropolitan area had the highest concentration of insurance sales agents in the country as of 2010. At $63,170, insurance sales agents working in the Cumberland area had the highest annual mean wage of any in the state. The Bethesda-Frederick-Gaithersburg area paid the next highest average salary at $62,910.
Salary and employment data compiled by the United States Department of Labor’s Bureau of Labor Statistics in May of 2010. These estimates do not include self-employed financial advisors. The Bureau of Labor Statistics always expresses salaries equal to or greater than $166,400 (hourly wage of $80.00) as such and doesn’t provide estimates beyond these totals.