Stockbroker
Stockbrokers buy and sell shares and other securities for clients, placing the trades that build and adjust an investment portfolio.
- Median salary
- $137,900
4.2%vs last year, before tax
- People employed
- 5,400
1.9%vs last year
- Projected growth
- +12.5%
to 2035
- AI exposure*
- Moderate
- automation risk
- Average hours
- 52/wk
+12h vs all jobs
- Shortage status
- Not in shortage
national
Stockbrokers buy and sell shares and other securities on behalf of individual and institutional clients, and many also advise on what to hold within a portfolio. The core of the job is execution through a licensed market, which separates it from an investment analyst who researches companies without trading them. Most work for licensed brokerages or investment banks as authorised representatives of an Australian financial services licensee.
How much do stockbrokers earn?
The median full-time salary for a stockbroker is $137,900 per annum, before tax, up $29,000 since 2018.
Pay in broking leans heavily on commission, so two people with the same title can earn very different amounts depending on the size of their client book and how much of it trades. Institutional desks usually pay a higher base with a smaller bonus, while retail broking pays less upfront and rewards the adviser who brings in the business. A downturn in trading volumes shows up in income the following quarter, which is why experienced brokers watch their fixed costs as closely as their clients watch the market.
What does a stockbroker do day to day?
The list below is what fills most weeks; the exact mix shifts with seniority and whatever stage the current work is at.
- Watching the market from before the open and through the session to catch overnight moves that affect client positions
- Calling clients when volatility spikes to talk through a decision while prices are still moving
- Prospecting for new clients and referrals, because a book of business takes years to build and only holds together if clients stay
- Reconciling trades and keeping the records ASIC and the market operator require
- Reading company results, broker research and economic data each morning to form a view clients can act on
What skills do stockbrokers need?
Employers look for financial analysis and modelling, investment and financial advice, data analysis, backed by Bloomberg Terminal fluency and strong client relationships and advisory.
Specialist skills
- Financial analysis and modelling
- Investment and financial advice
- Data analysis
- Risk and internal controls
Software and tools
- Bloomberg Terminal
- FactSet
- ASX Trading Platform
- CRM Systems
- Financial Modelling Software
General skills
- Client relationships and advisory
- Written communication
- Problem solving
- Stakeholder management
Is the job growing?
About 5,400 people work as stockbrokers in Australia, and employment is projected to grow 12.5% over the decade to 2035. That's healthy, above-average growth, and the role should stay in solid demand.
How do you become a stockbroker?
Here's the path most stockbrokers take, step by step.
- 1Complete Year 12 with strong maths and English, then a bachelor degree in finance, commerce or economics
A degree is the standard entry point into the graduate and cadet programs run by brokerages and investment banks, and it covers the securities, derivatives and corporations law material the licensing regime assumes you know.
- 2Complete the training and competency requirements for advising on securities
To give personal advice on shares you need to meet the relevant training standards and be authorised as a representative of an Australian financial services licensee; the licensee supervises your conduct and reports to ASIC.
- 3Start in a support seat: trade support, settlements, an adviser assistant or a graduate rotation
These roles get you onto the desk, familiar with order flow and the platform, and give you a track record before you are trusted with clients of your own. Settlements and operations experience in particular translates into broking with further study or licensing.
- 4Build a client book and take on responsibility for advice
Employers usually judge brokers on the revenue their clients generate, so the first few years involve prospecting, referrals and gradual handovers from senior brokers. Postgraduate study or the CFA program helps if you want to move into institutional sales or research-backed advice.
Ready to apply as a stockbroker?
Whether you're working toward becoming a stockbroker or already are one and want a hand with the next step (sharpening your resume for ATS screening, tightening your cover letter, or knowing what you'll actually be asked at interview), here are examples grounded in this specific role, not generic templates.
What jobs can a stockbroker move to?
Moving into Chief Executive Officer typically comes with the biggest pay rise, worth $44,100 a year more on average.
| Move to | Typical pay change | Overlap | Retraining |
|---|---|---|---|
| Chief Executive Officer Senior broking and market expertise can support executive leadership, though broader management study is needed to lead an organisation.Known move | +$44,100 | 39% | reskill |
| Equities Trader Direct experience in equity markets and order execution transfers to equities trading with little extra training. | +$0 | 65% | minimal |
| Financial Planner Stockbroking experience in securities and portfolio construction supports financial planning advice, but registration requirements mean additional study and compliance.Known move | −$3,600 | 47% | requalify |
| Finance Broker Client-facing finance and sales skills carry into finance broking, where helping clients arrange lending and finance requires a reskilling course.Known move | −$3,900 | 35% | reskill |
Moves are chosen from Jobs and Skills Australia's Data on Occupation Mobility, which follows income tax records between 2011-12 and 2020-21, together with entry requirements and skill overlap. A known move is one people were seen making in that data. Pay change compares median full-time pay for the two roles.
Who works as a stockbroker?
The typical stockbroker is 42 years old; 81% are men, 80% work full-time, and full-timers average 52 hours a week.
- 42
- Median age
- 19%
- Female share
- 80%
- Full-time
- +12h
- vs all-jobs avg
What's it like being a stockbroker?
The job runs on market hours, so the day starts well before the open with research and overnight news, and the pace lifts as soon as the session begins. Brokers carry two kinds of pressure at once: the market can move against a client within minutes, and the client book has to keep growing or the income falls away. It suits people who are comfortable making a call quickly and being accountable for it, and who don't mind that early years on a commission-heavy structure can be lean.
What people like
- Your decisions land in real time. A call to buy or sell is executed within seconds and the result shows up on the client's statement, which gives the work a feedback loop few office jobs have.
- The market is never fully learned. Company results, interest rate decisions and sector shifts mean the reading never stops, and brokers who follow their sectors closely are the ones clients keep calling.
- Relationships that last decades. Many brokers keep the same clients through market cycles, through inheritances and through their children opening accounts, which makes the trust built up over years the real asset.
- The book is yours. On a commission structure you keep a share of what your clients generate, so effort put into prospecting and service shows up directly in what you take home.
What people find hard
- The early years can be lean. New brokers often start on a modest base while building a client book from nothing, and it can take several years before the income reflects the hours.
- Market hours are fixed. The session dictates the day: research before the open, attention through trading, and paperwork after the close, with client calls often fitted around whatever the market is doing.
- Income moves with the market. Commission falls away in quiet markets even when the work doesn't, and a client who stops trading for a few months takes their share of your income with them.
- Compliance is constant work. Every piece of advice and every order has to sit inside the licensee's rules and ASIC's requirements, so record keeping and file reviews take up a real part of the week.
Based on our synthesis of professional-body surveys and public accounts of the role, not first-person verified reviews.
Which industries employ stockbrokers?
Financial and Insurance Services employs the largest share of stockbrokers.
Top employing industries
- 1Financial and Insurance Services
Ranked by employment share; the source doesn't publish an exact percentage per industry.
| Bachelor degree | 52.1% | |
|---|---|---|
| Postgraduate | 21.5% | |
| Year 12 or below | 12% | |
| Diploma / Advanced Diploma | 8% | |
| Certificate III/IV | 3.5% |
Will AI replace stockbrokers?
Stockbroking sits in the middle: much of the analysis and routine execution is already automated, but the client relationship and the accountability for advice are not. Screening thousands of securities, drafting summaries of company results and placing simple orders are all software tasks now. Deciding what to recommend to a particular client, and answering for that call when the market moves, still belongs to the broker.
Share of typical working time by exposure level
- Client conversations and adviceTalking a client through a decision during a sell-off, or explaining why a holding still fits their plan, depends on trust and context that a model cannot carry.35%low
- Research notes and client briefingsAI drafts summaries of company results, economic data and broker research quickly, which trims the writing time but not the judgement about what is worth sending to a client.25%high
- Market monitoring and screeningScreening tools scan the whole market for price moves, volumes and news alerts, but a broker still decides which of the flagged items actually matter for a client's portfolio.20%moderate
- Order placement and executionClient platforms and algorithmic execution handle routine buy and sell orders at a fraction of the cost, while large block trades and illiquid stocks still need a broker to work the order by hand.20%high
Moves least exposed to AI
These career moves from stockbroker work are rated low for AI exposure:
- Financial Planner
Solid skill overlap (47%), requalify to get there, and a low automation-risk profile.
- Chief Executive Officer
Some skill overlap (39%), reskill to get there, and a low automation-risk profile.
Common questions about becoming a stockbroker
Straight answers to the questions people ask most.
How much do stockbrokers earn in Australia?
The median for full-time stockbrokers is $137,900 per year before tax, though the spread around that figure is wider than in most occupations because commission makes up so much of the total. What you earn depends on the size of your client book, the volume it trades and whether you sit on an institutional or retail desk.
How do you become a stockbroker?
The usual route is a bachelor degree in finance, commerce or economics, followed by a graduate or cadet role at a brokerage, and then authorisation to advise on securities under an Australian financial services licensee. Plenty of brokers enter through settlements, trade support or an adviser assistant role before taking on clients of their own.
Are stockbrokers in demand in Australia?
Stockbrokers are currently not in shortage, and employment in the occupation is projected to grow 12.5% over the decade to 2035. It is a small field, with about 5,400 people working in it, so openings tend to come from retirements and turnover at brokerages rather than from new desks being set up. A licensed, client-ready broker with an existing book is the profile employers look for.
Will AI replace stockbrokers?
AI has already taken over parts of the job, particularly screening securities, summarising company results and executing routine orders, which is why the role's exposure is rated moderate rather than low. What holds the line is the advice conversation: clients still want a person accountable for a recommendation, and complex block trades and relationship-led business are negotiated between people.
Where do stockbrokers move next in their careers?
Moving into equities trading keeps you closest to the work, with a pay difference of about the same and the same market and execution skills carrying across. Financial planning is a common shift because portfolio and securities knowledge transfers, though the pay difference is $3,600 less and registration requirements mean additional study. Senior brokers sometimes set up their own licensed advisory practice or boutique brokerage, which is often where earnings grow most.
Do you need a degree to work as a stockbroker?
Most brokers hold a bachelor degree, and the larger firms use it as a filter for graduate intakes, but it is the licensing and authorisation that legally lets you advise clients. Settlements officers and financial planners have moved across with further study or a short course covering market conduct and trading rules.
Related roles
- Financial Planner
- Finance Broker
- Equities Trader
- Chief Executive Officer
- Settlements Officer
- Financial Planner
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