The salary of a notary public can vary greatly depending on several factors including location, experience, and the type of employer. According to data from the Bureau of Labor Statistics, the median annual salary for notaries was $34,000 as of May 2020. However, some notaries can make significantly more or less than this amount.
Factors that Affect Notary Salaries
Employer
In general, notaries who work for the government tend to have lower salaries than those who work in the private sector. For example, a notary working for a state government agency may earn an annual salary of $30,000 to $40,000, while a notary working for a private law firm may earn $50,000 to $70,000 per year.
Experience
Experience also plays a role in determining a notary’s salary. Notaries with more experience and a proven track record of providing accurate and timely services may be able to command higher salaries than those with less experience.
Location
Location also plays a role in determining a notary’s salary. Notaries who work in large metropolitan areas or in states with a high demand for notary services may earn higher salaries than those who work in rural areas or in states with a lower demand for notary services.
Other Forms of Compensation
In addition to salary, some notaries also earn money through commissions or other forms of compensation. For example, some notaries may earn commissions for each document they notarize, while others may earn bonuses or other forms of compensation based on their performance.
Self-Employed Notaries
It’s worth noting that many notaries are self-employed and thus their income is not determined by hourly wage or salary. They charge fees for their services, and the amount of money they make is based on the number of clients they have and the fees they charge. It’s possible for a self-employed notary to make significantly more than one who is employed by a government agency or private firm.
Conclusion
In summary, the salary of a notary public can vary greatly depending on factors such as location, experience, and the type of employer. The median annual salary for notaries was $34,000 as of May 2020, but some notaries can make significantly more or less than this amount. Additionally, notaries have the opportunity to earn money through commissions and other forms of compensation. Self-employed notaries have the opportunity to earn more money than employed notaries as their income is based on the number of clients they have and the fees they charge.
It’s important to keep in mind that the salary of a notary public is not the only factor to consider when pursuing this career. Notary publics also have to be trained and pass a exam, they also have to maintain their certification and keep up with laws and regulations. It’s important to consider all aspects of the job and weigh them against your own interests and career goals before becoming a notary public.
