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Brokers earn $142k on average per year

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Miklos Bolza | 11 Apr 2017, 08:25 AM Agree 0
A new industry report has revealed some surprising findings about broker remuneration, market share and performance
  • Really? | 11 Apr 2017, 08:41 AM Agree 0
    What a crock.
    This is something the Banks like to peddle to take the focus off the fact that commissions are at a lower level than 12 years ago.
    Also trying to offset recent findings which show that Australian Brokers are amongst the lowest paid in the world.
    When was the last time you were asked how much you earn.....I never have been. Yet all these surveys pop up with all this data; like political opinion polls that never pan out on election day. The all have a behind the scenes purpose...
  • Mark Twain | 11 Apr 2017, 09:03 AM Agree 0
    This report is rubbish. In order to earn $60k per year in trail you need to have an income from your trail book of $5000 per month. This then means that they are excluding all new brokers and everyone who hasn’t been in the industry for some time. It is therefore an incomplete sample size in order to obtain a desired outcome. That’s the equivalent of taking only the directors salary in the MFAA and then stating MFAA employees earn $200k per year.
    "There are three kinds of lies: lies, damned lies, and statistics." British Prime Minister Benjamin Disraeli
  • Pfft | 11 Apr 2017, 09:05 AM Agree 0
    I assume this is a turnover figure which means nothing
  • Business owner | 11 Apr 2017, 09:12 AM Agree 0
    Such a misleading title.
    Using a before costs amount to claim how much brokers earn is dumb and incorrect.

    Are you even aware of the costs involved in running a broker business, Miklos Bolza?
  • Brado | 11 Apr 2017, 09:19 AM Agree 0
    some of those figures don't add up... you can only earn $83,000 in upfront comms on $1mill a month if every commission is 0.7% including GST (which they aren't) and with no aggregator split. I am assuming that the MFAA have just used this as an average and not actually asked anyone??? what you earn, even Gross, is very different to the full commission 'generated' by the work....
  • FG | 11 Apr 2017, 09:48 AM Agree 0
    that is like saying CBA earn $24bn in 2016 !! how about aggregator's cut and our operating cost such as stuff salary, rent, phone, car expenses etc !!
  • Broker | 11 Apr 2017, 11:14 AM Agree 0
    Even if this figure was correct which I doubt very much - then less tax, less GST, less all operating costs, which leaves a rather moderate income with no holiday pay , no long service leave ,no sick leave , no parental leave etc etc , all whilst working 6o plus hours a week.

    Like most professions the harder you work , the luckier you get.

    And I also get to work whilst on holidays too!
  • Mac | 11 Apr 2017, 02:52 PM Agree 0
    $400K here ;)
  • Aussie Mobile Broker | 16 Apr 2017, 11:16 PM Agree 0
    Aussie Home Loans passes on around 40% if settling a $1m per month. Then take out expenses and you are getting closer to the figure.
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