Trader, Commodities Salary
Commodities Traders in the United States can expect to earn an average of $77K per year. Career length and the particular city each impact pay for this group, with the former having the largest influence. Job satisfaction for Commodities Traders is high. Medical benefits are awarded to a large number, and more than half earn dental coverage. There are far more male Commodities Traders survey respondents than women, making up 81 percent. The data for this synopsis comes from respondents who took the PayScale salary survey.
Job Description for Trader, Commodities
Commodities traders facilitate transactions related to commodities such as securities, stocks and bonds, currency, agricultural output, and others. These traders work with clients to evaluate the market, analyze its movements and tendencies, and use this information to develop sound financial advice for clients. Once this information has been shared with clients and these clients decide to make a transaction, the commodity trader does the necessary buying and/or selling.Read More...
Commodity traders may be employees of banks or brokerage firms, or they may work independently with clients of their own. They may choose to conduct most of their transactions and business from an office via computer or telephone, or they may stand on the floor of a stock exchange, handling deals in person.
A bachelor's degree in finance, economics, or a related field is typically the minimum educational requirement for this position, though many traders have post-baccalaureate degrees as well. Employers and clients may require additional studies with a focus on a specific industry, such as agriculture. Additionally, a trader must be licensed through the Financial Industry Regulatory Authority (FINRA). They need to register with the National Futures Association and pass the National Commodity Futures exam; additionally, the FINRA requires licensed traders to continue their education and report at least 12 hours of classroom education every three years to maintain licensing.
Trader, Commodities Tasks
- Derive optimal transaction prices for clients and execute accordingly.
- Create, maintain, and expand relationships with suppliers and clients.
- Research and monitor target companies and investment channels while applying the appropriate strategies for futures, commodities, and trading.
- Evaluate market movements and communicate their importance with clients and coworkers.
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Pay by Experience Level for Trader, Commodities
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Individuals with fewer than five years of experience earn $72K on average, but those in the five-to-10 year group see a six-figure median of $119K. Commodities Traders bring in $107K after working for 10 to 20 years. Seasoned workers who boast more than two decades of relevant experience enjoy a median salary of $165K, which is substantially larger than the medians reported by folks with fewer years on their resumes.