The Texas registered agent salary of $11,5 million in the U.S. is the largest, according to a new report.
Agents for law firms, hedge funds and other large clients earn more than $11 million annually, according a survey of more than 1,000 Texas registered agents published Thursday.
The report by the American Law Institute and the Center for Responsive Politics said the average registered agent in Texas earned more than a quarter-million dollars in 2015, making the average agent in the state the second-highest-paid.
Agents in the Dallas-Fort Worth metropolitan area earned an average of $9.4 million in 2015.
A spokeswoman for the American Institute of Certified Public Accountants, which represents registered agents, declined to comment on the report.
She said the institute doesn’t collect and report salaries for agents.
Texas law requires agents to report annual compensation in a form that the agency can use to justify the pay.
The Texas law allows registered agents to be paid more if they have more than 10 years of experience in the industry, and if they are paid more than 50 percent of the average annual compensation of their peers.
The American Institute also said agents in the Houston metro area earned $6.7 million in compensation last year, up from $4.3 million in 2014.
The U.K.-based Institute for Fiscal Studies said in a report in June that the average salary of an agent is $12,200 a year.
The pay for registered agents varies by industry and by jurisdiction.
The average agent for the public relations firm of William Morris Endeavor, a New York-based law firm, earned $11 per hour, according the study.