The Average Salary of a Commodity Futures Broker
A commodity futures broker is a financial trader who specializes in the buying and selling of obligations to purchase an agricultural product or natural resource at a certain price in the future. Commodity futures brokers counsel clients about what commodities are likely to go up in value and when to sell futures in order to make a profit.
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Work Experience
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As of October 2009, commodity futures brokers earned average annual salaries of between $30,906 and $44,812 during their first four years of work in the field. By contrast, futures brokers with 10 to 19 years of experience averaged between $50,868 and $245,659, according to Payscale.com.
Employer Types
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Publicly traded companies paid commodity futures brokers average maximum salaries of $68,870, while maximum salaries at private firms were only an average of $56,993, according to Payscale.com's October 2009 reporting.
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Employer Specialty
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As of October 2009, futures brokers who worked for brokerage houses that specialized in many areas of investing earned considerably more than their counterparts whose companies offered only commodity futures; average maximum salaries were $254,341 and $80,400, respectively.
Geography
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The highest-paying state for a commodity futures broker was New York, where brokers were earning an annual average of between $44,621 and $122,084 as of October 2009. Other high-paying states for futures brokers were Illinois and Texas, according to Payscale.com.
Benefits
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Commodity futures brokers frequently receive benefits that increase their overall compensation, such as 401k retirement plans, paid sick leave, life and disability insurance and between 1.4 and 3 weeks of paid vacation, according to Payscale.com.
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