Senior 464,811 450,000 387,525 500,000 267,500 441,000 Mid-Level 221,667 183,750 149,504 159,158 175,000 163,916 Entry-Level 102,103 112,500 N/A N/A N/A 101,534
Average Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Money Market Average Trader
Senior 157,724 134,776 131,888 117,072 130,000 135,365 Mid-Level 102,005 99,900 72,284 83,484 N/A 89,418 Entry-Level 63,820 87,500 N/A N/A N/A 80,440
BONUS
Senior 344,659 321,469 340,026 296,114 137,500 325,567 Mid-Level 127,475 118,499 74,429 108,790 N/A 107,298 Entry-Level 51,566 37,917 N/A N/A N/A 44,741
COMMISSION
Senior 301,379 194,804 343,204 335,869 89,608 287,212 Mid-Level 114,055 N/A N/A N/A N/A 86,536 Entry-Level N/A N/A N/A N/A N/A 36,458
TOTAL
Senior 542,355 431,828 512,128 466,346 267,500 449,173 Mid-Level 263,069 198,194 165,024 186,498 175,000 183,657 Entry-Level 107,045 112,500 N/A N/A N/A 103,182
Maximum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Money Market Max. Trader Average Maximum Trader
Senior 253,571 262,500 208,333 206,250 200,000 232,664 262,500 Mid-Level 147,250 167,500 85,503 115,000 N/A 128,813 167,500 Entry-Level 104,464 100,000 N/A N/A N/A 98,155 104,464
BONUS Senior 900,000 434,000 1,200,000 446,000 175,000 745,000 1,200,000 Mid-Level 314,166 219,000 200,000 247,000 245,042 314,166 Entry-Level 100,000 50,000 75,000 100,000 COMMISSION Senior 600,000 300,000 600,000 900,000 N/A 566,400 900,000 Mid-Level 215,067 N/A N/A N/A N/A 106,739 215,067
TOTAL
Senior 1,100,000 575,000 1,350,000 940,000 300,000 757,500 1,350,000 Mid-Level 591,568 299,000 270,000 347,000 175,000 322,614 591,568 Entry-Level 176,981 125,000 N/A N/A N/A 130,660 176,981
Minimum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Money Market Min. Trader Average Minimum Trader
Senior 76,500 58,157 50,000 40,000 60,000 56,164 40,000 Mid-Level 51,918 50,000 48,633 32,422 N/A 45,743 32,422 Entry-Level 43,273 75,000 N/A N/A N/A 69,424 43,273
BONUS
Senior 76,500 176,875 50,000 43,256 100,000 86,658 43,256 Mid-Level 1,000 31,330 5,584 23,316 N/A 15,308 1,000 Entry-Level 14,000 25,833 N/A N/A N/A 19,917 14,000
COMMISSION
Senior 25,000 89,608 86,408 50,000 N/A 62,754 25,000 Mid-Level 51,000 N/A N/A N/A N/A 73,925 10,000
TOTAL
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Note: 1. Compensation only calculated when there are sufficient responses; otherwise reported as 'NA."
2. "Total" provided for national peer group average and median only and median data based on statistically significant meaningful criteria.
3. Maximum Trader Average is the average of maximum trader compensation values across sectors. 4. Minimum Trader Average is the average of minimum trader compensation values across sectors. 5. Trader Maximum is the highest maximum trader compensation values across sectors.
6. Trader Minimum is the lowest minimum trader compensation value across sectors.
7. “Hybrid” or cross-market traders are included only when the traders appear to focus (majority of trading revenue) on a particular market sector in which case the trader’s comp is assigned to that market sector.
8. Averages include all sectors with responses regardless of whether that sector was not reported individually due to statistically insignificant number of responses.
High FTE Peer (>150 Full Time Equivalent) Median Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 150,000 150,000 150,000 150,000 150,000 Mid-Level 143,438 111,000 85,252 105,000 111,172 Entry-Level 73,750 87,500 N/A N/A 83,750
BONUS
Senior 173,120 425,000 162,636 425,000 296,439 Mid-Level 90,400 110,663 24,542 87,500 78,276 Entry-Level 39,802 37,917 N/A N/A 38,859
COMMISSION
Senior N/A N/A N/A N/A 600,000 Mid-Level 95,076 10,000 N/A N/A 52,538
Average Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 167,692 168,875 151,667 136,563 156,199 Mid-Level 127,281 112,375 85,252 106,667 107,894 Entry-Level 74,616 87,500 N/A N/A 84,039
BONUS
Senior 230,996 345,292 393,818 345,771 328,969 Mid-Level 143,872 122,199 24,542 111,329 100,485 Entry-Level 41,530 37,917 N/A N/A 39,723
COMMISSION
Senior N/A N/A N/A N/A 600,000 Mid-Level 95,076 10,000 N/A N/A 52,538
Maximum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 253,571 262,500 208,333 206,250 232,664 Mid-Level 147,250 167,500 85,503 115,000 128,813 Entry-Level 104,464 100,000 N/A N/A 98,155
BONUS
Senior 450,000 434,000 1,200,000 446,000 632,500 Mid-Level 314,166 219,000 43,500 247,000 205,917 Entry-Level 72,517 50,000 N/A N/A 61,259
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COMMISSION
Senior N/A N/A N/A N/A 480,000 Mid-Level 130,152 10,000 N/A N/A 28,030
Minimum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 100,000 113,000 50,000 40,000 75,750 Mid-Level 75,000 60,000 85,000 100,000 80,000 Entry-Level 46,500 75,000 N/A N/A 70,500
BONUS
Senior 127,744 176,875 50,000 166,313 130,233 Mid-Level 40,000 31,330 5,584 23,316 25,058 Entry-Level 14,000 25,833 N/A N/A 19,917
COMMISSION
Senior 600,000 300,000 600,000 900,000 480,000 Mid-Level 60,000 10,000 N/A N/A 14,000
Note: 1. Compensation only calculated when there are sufficient responses; otherwise reported as 'NA."
2. "Total" provided for national peer group average and median only and median data based on statistically significant meaningful criteria.
3. Maximum Trader Average is the average of maximum trader compensation values across sectors. 4. Minimum Trader Average is the average of minimum trader compensation values across sectors. 5. Trader Maximum is the highest maximum trader compensation values across sectors.
6. Trader Minimum is the lowest minimum trader compensation value across sectors.
7. “Hybrid” or cross-market traders are included only when the traders appear to focus (majority of trading revenue) on a particular market sector in which case the trader’s comp is assigned to that market sector.
8. Averages include all sectors with responses regardless of whether that sector was not reported individually due to statistically insignificant number of responses.
Low FTE Peer (<150 Full Time Equivalent) Median Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 144,500 66,579 82,442 100,000 98,380 Mid-Level 77,500 N/A 59,317 48,711 58,882 Entry-Level 50,000 N/A N/A N/A 50,000
BONUS
Senior 350,000 N/A 232,442 221,628 263,518 Mid-Level 100,959 N/A 124,317 103,711 107,247 Entry-Level 71,637 N/A N/A N/A 71,637
COMMISSION
Senior 227,600 89,608 86,408 53,803 177,884 Mid-Level 133,034 N/A 121,875 81,251 110,415
Maximum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 231,000 75,000 100,000 130,000 134,000 Mid-Level 100,000 N/A 70,000 65,000 71,250 Entry-Level 55,000 N/A N/A N/A 55,000
BONUS
Senior 900,000 N/A 400,000 400,000 487,500 Mid-Level 225,000 N/A 200,000 175,000 175,000 Entry-Level 100,000 N/A N/A N/A 100,000
COMMISSION
Senior 352,914 N/A 86,408 57,606 203,707 Mid-Level 215,067 N/A 121,875 81,251 104,739 Entry-Level N/A N/A N/A N/A 36,458
Minimum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 76,500 58,157 64,884 43,256 60,699 Mid-Level 51,918 N/A 48,633 32,422 45,743 Entry-Level 43,273 N/A N/A N/A 43,273
BONUS
Senior 76,500 N/A 64,884 43,256 108,660 Mid-Level 1,000 N/A 48,633 32,422 45,514
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COMMISSION
Senior 25,000 N/A 86,408 50,000 136,603 Mid-Level 51,000 N/A 121,875 81,251 71,925 Entry-Level N/A N/A N/A N/A 36,458
Note: 1. Compensation only calculated when there are sufficient responses; otherwise reported as 'NA."
2. "Total" provided for national peer group average and median only and median data based on statistically significant meaningful criteria.
3. Maximum Trader Average is the average of maximum trader compensation values across sectors. 4. Minimum Trader Average is the average of minimum trader compensation values across sectors. 5. Trader Maximum is the highest maximum trader compensation values across sectors.
6. Trader Minimum is the lowest minimum trader compensation value across sectors.
7. “Hybrid” or cross-market traders are included only when the traders appear to focus (majority of trading revenue) on a particular market sector in which case the trader’s comp is assigned to that market sector.
8. Averages include all sectors with responses regardless of whether that sector was not reported individually due to statistically insignificant number of responses.
High Revenue Peer (>$60 Million) Median Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Money Market Average Trader
Senior 116,000 131,500 150,000 125,000 130,000 130,500 Mid-Level 110,938 80,000 85,000 100,000 N/A 93,984 Entry-Level 61,250 87,500 N/A N/A N/A 74,375
BONUS
Senior 242,500 425,000 268,874 425,000 137,500 299,775 Mid-Level 150,000 105,332 43,500 137,500 N/A 109,083 Entry-Level 29,603 37,917 N/A N/A N/A 33,760
COMMISSION
Senior N/A N/A N/A N/A N/A N/A Mid-Level 95,076 N/A N/A N/A N/A 95,076
Average Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Money Market Average Trader
Senior 136,978 122,000 131,667 110,000 130,000 126,129 Mid-Level 109,781 99,900 80,168 90,000 N/A 94,962 Entry-Level 61,000 87,500 N/A N/A N/A 74,250
BONUS
Senior 265,686 369,667 446,937 423,667 137,500 328,691 Mid-Level 155,792 118,499 83,028 136,329 N/A 123,412 Entry-Level 31,201 37,917 N/A N/A N/A 34,559
COMMISSION
Senior N/A N/A N/A N/A N/A N/A Mid-Level 95,076 N/A N/A N/A 50,000 72,538
Maximum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Money Market Average Trader
Senior 218,889 150,000 208,333 150,000 200,000 185,444 Mid-Level 147,250 167,500 85,503 105,000 N/A 126,313 Entry-Level 75,000 100,000 N/A N/A N/A 87,500
BONUS
Senior 450,000 434,000 1,200,000 446,000 175,000 541,000 Mid-Level 314,166 219,000 200,000 247,000 N/A 245,042 Entry-Level 50,000 50,000 N/A N/A N/A 50,000
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COMMISSION
Senior N/A N/A N/A N/A N/A N/A Mid-Level 130,152 N/A N/A N/A N/A 130,152
Minimum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Money Market Average Trader
Senior 100,000 75,000 50,000 40,000 60,000 65,000 Mid-Level 70,000 50,000 70,000 65,000 N/A 63,750 Entry-Level 46,500 75,000 N/A N/A N/A 60,750
BONUS
Senior 127,744 250,000 50,000 400,000 100,000 185,549 Mid-Level 40,000 31,330 5,584 23,316 N/A 25,058 Entry-Level 14,000 25,833 N/A N/A N/A 19,917
COMMISSION
Senior N/A N/A N/A N/A N/A N/A Mid-Level 60,000 N/A N/A N/A N/A 60,000
Note: 1. Compensation only calculated when there are sufficient responses; otherwise reported as 'NA."
2. "Total" provided for national peer group average and median only and median data based on statistically significant meaningful criteria.
3. Maximum Trader Average is the average of maximum trader compensation values across sectors. 4. Minimum Trader Average is the average of minimum trader compensation values across sectors. 5. Trader Maximum is the highest maximum trader compensation values across sectors.
6. Trader Minimum is the lowest minimum trader compensation value across sectors.
7. “Hybrid” or cross-market traders are included only when the traders appear to focus (majority of trading revenue) on a particular market sector in which case the trader’s comp is assigned to that market sector.
8. Averages include all sectors with responses regardless of whether that sector was not reported individually due to statistically insignificant number of responses.
Low Revenue Peer (<$60 Million) Median Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 200,000 160,329 200,000 130,000 172,582 Mid-Level 100,000 N/A N/A 73,711 97,461 Entry-Level 63,750 N/A N/A N/A 81,875
BONUS
Senior 212,345 176,875 137,747 104,784 157,938 Mid-Level 74,792 N/A N/A 53,711 52,117 Entry-Level 57,895 N/A N/A N/A 41,864
COMMISSION
Senior 227,600 N/A N/A 53,803 177,884 Mid-Level 133,034 N/A 121,875 81,251 110,415
Maximum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 253,571 262,500 208,333 206,250 232,664 Mid-Level 146,875 N/A N/A 115,000 119,502 Entry-Level 104,464 N/A N/A N/A 68,155
BONUS
Senior 900,000 176,875 187,525 166,313 357,678 Mid-Level 225,000 N/A N/A 75,000 94,991 Entry-Level 100,000 N/A N/A N/A 100,000
COMMISSION
Senior 352,914 N/A N/A 57,606 203,707 Mid-Level 215,067 N/A N/A N/A 104,739
Minimum Trader Compensation
SALARY Municipal Corporate Agency MBS/ABS Average Trader
Senior 76,500 58,157 64,884 43,256 60,699 Mid-Level 51,918 N/A N/A 32,422 75,118 Entry-Level 43,273 N/A N/A N/A 47,758
BONUS
Senior 76,500 176,875 64,884 43,256 90,379 Mid-Level 1,000 N/A N/A 32,422 28,346 Entry-Level 29,603 N/A N/A N/A 29,603
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COMMISSION
Senior 25,000 N/A N/A 50,000 136,603 Mid-Level 51,000 N/A N/A N/A 71,925 Entry-Level N/A N/A N/A N/A 36,458
Note: 1. Compensation only calculated when there are sufficient responses; otherwise reported as 'NA."
2. "Total" provided for national peer group average and median only and median data based on statistically significant meaningful criteria.
3. Maximum Trader Average is the average of maximum trader compensation values across sectors. 4. Minimum Trader Average is the average of minimum trader compensation values across sectors. 5. Trader Maximum is the highest maximum trader compensation values across sectors.
6. Trader Minimum is the lowest minimum trader compensation value across sectors.
7. “Hybrid” or cross-market traders are included only when the traders appear to focus (majority of trading revenue) on a particular market sector in which case the trader’s comp is assigned to that market sector.
8. Averages include all sectors with responses regardless of whether that sector was not reported individually due to statistically insignificant number of responses.