What You Need to Know About Securities and Commodities Traders
Job Description: Buy and sell securities and commodities to transfer debt, capital, or risk. Establish and negotiate unit prices and terms of sale.
A Day in the Life of a Securities & Commodities Trader
- Supervise support staff and ensure proper execution of contracts.
- Prepare financial reports, such as reviews of portfolio positions.
- Agree on buying or selling prices at optimal levels for clients.
- Report deficiencies in account payments, securities deliveries, or documentation requirements to avoid rule violations.
- Write or sign sales order confirmation forms to record or approve security transactions.
- Receive sales order tickets and inspect forms to determine accuracy of information.
What Every Securities & Commodities Trader Should Know
Below is a list of the skills most Securities and Commodities Traders say are important on the job.
Reading Comprehension: Understanding written sentences and paragraphs in work related documents.
Active Listening: Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
Critical Thinking: Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
Speaking: Talking to others to convey information effectively.
Judgment and Decision Making: Considering the relative costs and benefits of potential actions to choose the most appropriate one.
Related Job Titles
- Investment Trader
- Forex Trader
- Hybrid Derivatives Trader
- Fixed Income Trading Vice President
- Proprietary Trader
Job Demand for Securities and Commodities Traders
In the United States, there were 375,700 jobs for Securities, Commodities, and Financial Services Sales Agents in 2016.
New jobs are being produced at a rate of 6.2% which is lower than average. The Bureau of Labor Statistics predicts 23,300 new jobs for Securities and Commodities Traders by 2026. Due to new job openings and attrition, there will be an average of 38,000 job openings in this field each year.
The states with the most job growth for Securities, Commodities, and Financial Services Sales Agents are Texas, Florida, and California.
Watch out if you plan on working in Massachusetts, New Jersey, or Maine. These states have the worst job growth for this type of profession.
Securities & Commodities Trader Salary
The average yearly salary of a Securities & Commodities Trader ranges between $34,360 and $208,000. A Securities and Commodities Trader median salary is $64,120.
How much do Securities, Commodities, and Financial Services Sales Agents make in each U.S. state?
| State | Annual Mean Salary |
|---|---|
|
New York |
$161,580 |
|
Connecticut |
$122,890 |
|
Massachusetts |
$118,310 |
|
South Dakota |
$113,460 |
|
Kansas |
$107,500 |
|
Vermont |
$105,770 |
|
Minnesota |
$104,570 |
|
District of Columbia |
$103,380 |
|
Alaska |
$101,290 |
|
Rhode Island |
$100,390 |
|
North Dakota |
$100,060 |
|
New Jersey |
$98,850 |
|
New Hampshire |
$98,030 |
|
Maryland |
$97,570 |
|
Indiana |
$92,400 |
|
Illinois |
$91,640 |
|
Virginia |
$90,410 |
|
Louisiana |
$89,550 |
|
Montana |
$89,270 |
|
North Carolina |
$88,810 |
|
Delaware |
$87,390 |
|
Pennsylvania |
$86,970 |
|
Nebraska |
$86,920 |
|
Texas |
$85,720 |
|
Hawaii |
$85,660 |
|
Kentucky |
$85,420 |
|
West Virginia |
$83,930 |
|
Florida |
$82,810 |
|
Alabama |
$82,810 |
|
Maine |
$81,670 |
|
California |
$81,610 |
|
Missouri |
$80,280 |
|
Washington |
$79,930 |
|
Michigan |
$79,320 |
|
Mississippi |
$78,220 |
|
Oklahoma |
$78,220 |
|
Ohio |
$77,960 |
|
Wisconsin |
$77,780 |
|
Georgia |
$77,000 |
|
Colorado |
$76,160 |
|
Tennessee |
$75,610 |
|
Iowa |
$75,380 |
|
South Carolina |
$75,120 |
|
Arkansas |
$74,490 |
|
Arizona |
$72,750 |
|
Utah |
$71,460 |
|
Nevada |
$70,480 |
|
Wyoming |
$70,030 |
|
Oregon |
$66,120 |
|
Idaho |
$62,690 |
|
New Mexico |
$56,380 |
What Tools do Securities and Commodities Traders Use?
Although they’re not necessarily needed for all jobs, the following technologies are used by many Securities and Commodities Traders:
- UNIX
- R
- Microsoft Excel
- Microsoft Visual Basic
- Microsoft Office
- Linux
- The MathWorks MATLAB
- Microsoft Access
- Microsoft Outlook
- Oracle Java
How do I Become a Securities & Commodities Trader?
What education or degrees do I need to become a Securities and Commodities Trader?
How Long Does it Take to Become Securities & Commodities Trader?
Where do Securities and Commodities Traders Work?
References
Image Credit: Via Wikimedia Commons
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