The Office for National Statistics (ONS) has released its Annual Survey of Hours and Earnings 2015, revealing brokers are the highest paid in the UK.
Financial roles dominate the chart, with financial managers and directors coming fifth and financial institution managers and directors appearing sixth. The survey also reveals that legal professionals are the eighth highest paid, covering a number of roles including patent attorneys.
Coming top of the chart, the earnings of a broker average at £128,231 before tax with a pay range of £40,668 (20th percentile). Roles vary from stockbrokers and insurance brokers to foreign exchange dealers and investment traders.
When asked why brokers are worth their salary, Danny Cox the spokesman for investment service Hargreaves Lansdown, answered:
“Ultimately, market forces decide that, but the best stockbrokers help their clients avoid expensive mistakes, build their wealth and improve their financial security. The most important feature of any pay structure is to have a clear link to performance. The better the stockbroker, the better their earnings.”
Coming eighth, legal professionals such as patent attorneys earn an average of £80,578 before tax. Recent graduates can earn from £27,000 to £30,000 a year and have the opportunity to increase this to £55,000 even before finishing their exams.