Typical Broker Salary

[controlz]

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

 

[cedricthefrog]

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

 

[pssonice]

talk-talk-talk, this is really boring

.

 

[controlz]

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

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

 

[bevok]

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

 

[controlz]

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

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.

 

[gooseman]

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