What sort of pay range should be expected for a licensed trader @ discount brokerage, such as Q trade, E trade, etc…
42-47k depending on your hours. dont’ work at QTrade. though they pay more, it sucks to work there from what I hear. I would recommend against coming to DB.
what does this position entail?
Turkish, are you trying to burn me? from my understanding, all licensed traders at DB do 2 things. Take orders and provide customer service. if you’re lucky, you get clients calling in for securities research and you provide them with it. gotta understand a bit of how markets work and if you do options, you get some decent exposure to trading them since many times you will be executing spreads.
Yeah i hear at e-trade you take a lot of calls. Not sure about q-trade. Starting off in a DB actually isn’t too bad, IMO. I was thinking of getting a sales assistant/investment advisor assistant type of position but enh, I hear that it’s not all that great. At the end of the day I guess it depends what your long term goals are, but if you’re starting out, can’t go wrong with being a licensed trader. It’s a good place to start. If it’s not busy you can get quite a bit of studying done in between calls as well. Not sure how great it would be if you want to go into a research type of position eventually, but as an initial stepping stone into an investment career, it’s decent.
Frank, I also prefer the word ‘execute trades’ as opposed to ‘take orders’, but perhaps I will utter similar language after a year.
Frank, have you considered selling commercial real estate? In all seriousness, if you’re any good with people, you can make a serious buck. My co-worker’s 26-year-old rommate puts away $200k per year selling commercial real estate in Baltimore, MD. If you want to get out of your job, give it a thought.
No burn intended…