Securities Trader Salary
On average, commissions constitute a fair portion (more than three-fourths) of final income for Securities Traders. That final number averages out to $63K across the industry. Location is the biggest factor affecting pay for this group, followed by years of experience. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. The majority of workers are highly satisfied with their job. Male Securities Traders are far more common among survey respondents than their female counterparts, who typically comprise less than one-third of the field. The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Securities Trader
Securities traders are responsible for trading securities on behalf of their company's clients. They are in charge of buying and selling options such as stocks or bonds, gathering order information such as purchasing and selling details, and using their financial knowledge to recommend trading movements and develop effective strategies to increase client satisfaction. They provide advice to people who inquire about their services, as well as analyze market trends and provide relevant information to clients and upper management staff as required.Read More...
One of the securities trader's main responsibilities includes placing securities orders at specific times for better prices. They utilize a personal computer to record securities transactions and keep an accurate record for future reference. They are also in charge of enhancing financial processes and accountability, as well as improving trading performance to increase company profitability while minimizing the use of company resources.
At least a bachelor's degree in economics, finance, or a related field is generally required for this job, and previous experience as a securities trader is required or preferred as well. Securities traders need to possess strong communication skills, be organized, and pay close attention to detail. They need to be able to work under strict deadlines as well. Securities traders' schedule may vary; however, most securities traders work in an office setting during the hours in which the stock market is open for business.
Securities Trader Tasks
- Receive buy and sell orders for securities from clients and carry out the transactions.
- Follow changes and trends in the securities and financial markets.
- Ensure security transfer paperwork is completed correctly and proper transaction records are kept.
- Advise clients on how to meet their financial goals.
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Pay by Experience Level for Securities Trader
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Those in the early stages of their career can expect to make around $61K; however, individuals with five to 10 years of experience bring in $78K on average — a distinctly larger sum. For Securities Traders, 10 to 20 years of experience on the job amounts to an average salary of $82K. Respondents who boast more than two decades on the job don't boast commensurate pay, unfortunately; these veterans see average earnings of only $51K.
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