November 20th, 2013
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How Much Can a Trader Earn? Trader Salary
It can be hard to know how much a trader earns. The fact is, these professionals make an income based specifically on how successful they are at making investments. No matter which specific task you are likely to do in this field, chances are good you will earn an income based on commission, though some will earn through a salary-type position. The good news is that those who do well in this field can earn a significant income and even find themselves profiting from decisions very lucratively.
What’s the Median Pay for a Trader?
For those who want more of a specific answer to this question, it may be helpful to consider the median pay for those in this field. According to the US Department of Labor, the median annual wage for those who work as sales agents and traders was $70,190 in May of 2010. This means that about half of those in this field earned more than this and half earned much less. Further, the top ten percent in this field earned more than $166,400 in 2010. The bottom ten percent earned $31,330 in the field.
When you look at this compared to the various fields, you may see a significant reason to invest your time into becoming a trader. Those who worked as securities, commodities or other financial investment trader or sales agent earned $70,190 in May of 2010, as noted. The median income for all other occupations in this field was $33,840, much less than half of what these individuals can expect to earn if they work as a trader.
Trader Salary or Commission?
Most traders who begin to work in this field will work on a base salary. This is very common the first few years of a trader’s career if he or she is working with a company. This affords the individual an opportunity to gain clients and to create a solid client base for their needs. Most will do this for two to three years before moving to a more commission-based salary. Most firms will pay commissions based on only the sales and successes made by the agent.
Additionally, many who work in this field will earn bonuses. These often come from those who work with mergers and acquisition type of work. They will learn a substantial bonus for successful contributions to this process.
What About the Hours?
To earn a sizable amount of money like this, it will become necessary for individuals to work long hours. Most will work more than 40 hours per week. Many will work evenings and weekends if their clients require this or if they are trading on a global scale. Some will work a set schedule, especially if they are working in investment banks to provide these services.
Is this the field for you? When you see how much a trader can make, it may be the perfect place for you to go to make a solid career for yourself with many opportunities to succeed, if you can make the right investment decisions.
Trader Salary Info
The average wage for a trader is approximately $70k per annum.
Top traders can earn well in excess of $160k per year.