Typical Broker Salary

Hey,

I am looking to become a prop trader, however if it does not work out, I am contemplating the idea of applying to some of the large brokers and trying to obtain a graduate position there.

I was wondering how finances work in these companies. Whilst the prop arcades tend to work on a profit split setup, do these brokers pay their staff a set salary, or are their commissions based on how much money you make for your clients... the better you are the more you are paid?

I apologise if this is quite a basic question, but I am pretty new to the financial markets.

Thanks,
Controlz

are you expecting a bull market in stocks over the next 5-10 years?

talk-talk-talk, this is really boring

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cedricthefrog said:

are you expecting a bull market in stocks over the next 5-10 years?

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I'm not really sure, but the question I asked is just a general question, as I am just interested how the financial and salary sides differ between brokers and trading arcades.

Thanks

I suspect if you go into trading (much like anything else) planning for what to do if you fail, it will become self fulfilling.

bevok said:

I suspect if you go into trading (much like anything else) planning for what to do if you fail, it will become self fulfilling.

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This isn't on the basis of failing to become a successful trader - more about just taking a different avenue if I decide I don't want to trade (I am still studying).. but to be honest, it is rather irrelevant to the question anyhow.

I am just trying to find out how the salary works for a broker.

most brokers bill per size, not many take risk for their clients. you get a % of what you bill.