Series 24 Salary

Written by: Mary Gerardine

Last updated:

The Series 24 license exam, also known as the General Securities Principal Qualification Exam, is a qualification that enables individuals to supervise and manage certain aspects of a broker-dealer’s operations.

Often highly sought after, Series 24-licensed professionals have a wide range of career opportunities and the potential to earn a lucrative salary.

This article explores the average salary range for Series 24 license holders, the factors that can influence a Series 24 salary, and the various job opportunities available for these professionals.

Series 24 Salary Overview

The Series 24 license, administered by the Financial Industry Regulatory Authority (FINRA), is a key credential for financial professionals who want to supervise broker-dealer operations.

On average, entry-level Series 24-licensed professionals can expect to earn between $40,000 and $100,000 depending on their individual role and responsibilities — though more experienced professionals can earn up to $150,000 or more.

These figures can vary, though, based on factors like an individual’s geographic location, specific qualifications, and the firm policies.

Knowing the average salary range for Series 24 license holders can help you plan your career, set realistic income expectations, and negotiate compensation when pursuing job opportunities within the financial industry.

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For a more in-depth overview of the Series 24 license, check out our Series 24 article.

Factors Influencing Salary

Understanding the factors that can influence your salary in this field is essential to be able to make informed decisions about your career path.

Some of the most important factors to be aware of include:

  • Experience: Individuals with several years of experience in the financial industry, a track record of success, and a solid understanding of regulations and compliance are more likely to command higher salaries
  • Location: The cost of living and demand for financial professionals in a particular region can significantly impact salaries. Cities like New York, San Francisco, and Chicago — all economic hubs — tend to offer higher salaries than smaller cities or rural areas
  • Job Title and Responsibilities: An individual’s specific role and associated responsibilities also can impact their salary. Roles with more significant responsibilities, such as managing large teams or handling high-value portfolios, usually come with higher compensation
  • Market Conditions: Economic trends and the overall health of the financial industry can influence demand for Series 24-licensed professionals and affect their salary levels

Note: The financial industry is highly dynamic and, as such, many other factors beyond those listed above may also impact compensation. This makes it essential to consider your unique circumstances when evaluating and negotiating your salary as a Series 24 license holder.

Series 24 Jobs

Having a Series 24 license qualifies you for a variety of jobs within the financial services industry — particularly supervisory and management positions.

For example, you can oversee many parts of a company’s investment and securities business. This includes helping to create and sell new securities (underwriting), buying and selling corporate securities (trading and market making), advertising, or ensuring the company follows financial rules (compliance).

Here are some common job titles held by Series 24 licensees and their associated roles:

  • General Securities Principal: Individuals in this position are responsible for managing and supervising all aspects of a firm’s securities business, including underwriting, trading, market making, and advertising
  • Branch Manager: Tasked with the oversight and management of a branch of a financial institution, these individuals ensure the branch operates within regulatory guidelines and meets sales and operational goals
  • Compliance Officer: These professionals ensure a firm’s operations and transactions comply with all relevant regulations and internal procedures, including those regarding advertising and trading activities
  • Operations Manager: This individual is responsible for overseeing the operational functions of a financial firm as well as ensuring its efficiency, productivity, and compliance with regulatory standards
  • Investment Banking Manager: These professionals oversee investment banking activities, including mergers and acquisitions, capital raising, and controls related to equitable advisors. They also ensure compliance with regulations

This isn’t a full list of the jobs available to Series 24 license holders, and a general securities principal qualification doesn’t cover municipal securities or options.

How to Get Your Series 24 License

To obtain a Series 24 license, you must pass the Series 24 exam. Before signing up for this test, make sure you meet these three requirements:

  1. FINRA Member Firm Sponsorship: You need to be associated with and sponsored by a FINRA member firm or another applicable self-regulatory organization (SRO).
  2. Securities Industry Essentials (SIE) Exam: After this, you’ll need to pass the SIE Exam and a representative-level qualification exam (or the Series 16 exam) required to hold an appropriate principal registration.
  3. Approved accommodation: Finally, you’re required to obtain accommodation approved for online applications.

To be eligible for principal registration you must pass one of the following representative-level qualifying exams:

  • Series 7 Exam (the General Securities Representative Exam)
  • Series 16 Exam (the Supervisory Analysts Exam)
  • Series 57 Exam (the Securities Trader Representative Exam)
  • Series 79 Exam (the Investment Banking Representative Exam)
  • Series 82 Exam (the Private Securities Offerings Representative Exam)
  • Series 86 and 87 Exams (the Research Analyst Exams)

With a Series 24 license, you can take on supervisory roles within the financial sector, increase your earning potential, and ensure your compliance with industry regulations.

Exam Preparation and Procedure

Preparing for the Series 24 exam requires a coordinated approach.

The exam will test your knowledge of major job functions, such as the supervision of the registration of broker-dealer and personnel management activities, general broker-dealer activities, retail and institutional customer-related activities, trading and market making activities, and investment banking and research.

Here are some tips to help you effectively prepare for the Series 24 exam:

  • Know your exam content. The Series 24 exam includes 150 multiple-choice questions with a time duration of three hours and 45 minutes. FINRA provides a content outline on its website, which you can use as a study guide
  • Set a study schedule. Dedicate a sufficient amount of time to study for this exam — ideally starting several weeks or even months in advance. Create a study schedule that covers all of the exam topics and allows extra time for areas you find challenging
  • Take prep courses. Invest in prep courses designed specifically for the Series 24 exam. These courses will help you understand the concepts better and provide tips and strategies for taking the exam. They also include mock tests, study guides, and video lectures

We recommend you take a prep course for the Series 24 exam that offers tailored study materials, practice tests, and expert guidance to enhance your understanding and test-taking skills. These courses typically include comprehensive study guides, interactive quizzes, mock exams, and access to instructors for clarifications.

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Series 24 Salary FAQ

How much does a Series 24 make?

The salary of a Series 24 license holder varies widely, depending on factors like their experience, geographic location, and job title. The average salary of a Series 24 professional can range from $40,000 to $100,000 annually. Opportunities for bonuses and incentives also may increase their potential earnings.

What is the pass rate for the Series 24 exam?

The pass rate for the Series 24 exam fluctuates, depending on the year, candidates’ backgrounds, and the preparation methods they employ. Recently, it’s around 60% to 70%. This exam is challenging and requires thorough preparation to increase a candidate’s likelihood of success. For a comprehensive overview of this exam, please visit our dedicated Series 24 Exam page.

How does experience impact the Series 24 salary?

Experience can significantly impact the earning potential of a Series 24 license holder. As you gain experience, you acquire a deeper understanding of the financial industry, improved management skills, and a track record of performance. These factors contribute to increased responsibilities, higher positions, and, consequently, a rise in salary, bonuses, and other compensation benefits.

What are some common job titles associated with the Series 24 license?

Common job titles associated with Series 24 license holders include general securities principal branch manager, compliance officer, operations manager, investment banking manager, among others. These management roles usually cover supervisory activities that include regulatory compliance over advertising, market making, trading, and underwriting.

Does holding additional licenses, like Series 7 or Series 63, affect the salary of Series 24 license holders?

Yes. If you work as a financial advisor, for example, you may hold a Series 7 license or a Series 63 license on top of your Series 24 license. With added responsibilities, such as managing existing accounts, providing proper disclosures about financial products, and ensuring regulatory requirements, you can increase your salary.

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