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What is a swing trader salary?

Salary, Commission and Qualifications Most stock traders get paid salary and commissions. The job site Indeed estimated in 2021 that stock traders, including swing traders, averaged a base salary of $80,086 per year plus $25,000 in commissions.

work.chron.com - How Much Does a Swing Trader Make Per Year? - Work - Chron.com

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Make Your Bookie Cry And Pull The Hair By Generating $23,187

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Swing traders make short- and- intermediate-term trades for clients that last from several days to six months. This type of trading falls between long-term "buy-and-hold" investing and day trading, where traders rarely hold stocks more than a day. Swing traders monitor the magnitude of price swings in the stock market and buy and sell stocks to earn the highest returns clients. Their annual wages vary, depending on the number of clients they serve and where they live in the United States.

Salary, Commission and Qualifications

Most stock traders get paid salary and commissions. The job site Indeed estimated in 2021 that stock traders, including swing traders, averaged a base salary of $80,086 per year plus $25,000 in commissions. The minimum educational requirement for this job, as with most securities and commodities traders, is a bachelor's degree in business, finance, accounting or economics. Most of these traders have attained at least a Series 6 or Series 62 licenses for selling securities through the Financial Industry Regulatory Authority, or FINRA. Employers may also prefer hiring swing traders with at least a year or more of experience in swing or securities trading. Other essential qualifications for a swing trader are attention to detail and initiative and math, customer-service, decision-making and computer skills.

Top Pay in Massachusetts

Earning potential for stock and swing traders varies across the country. The highest Indeed salaries were reported in Massachusettes where these stock traders averaged $150,000 per year. Other states that paid at least $100,000 per year included Washington, Connecticut, Texas and Rhode Island. Those in New York and Illinois also earned attractive annual salaries at $99,368 and $91,184, respectively.

Securities and Commodities Brokers

The U.S. Bureau of Labor Statistics (BLS) reported annual wages of $93,260 for all securities and commodities sales agents, as of 2021. Securities and commodities sales agents, or brokers, may earn more than swing traders because they trade a wider variety of financial investments. Typical earnings vary considerably by industrial sector. Securities and commodities sales agents working in wholesale electronics markets earned the highes average salaries in the country at $168,940, according to 2021 BLS data, while those in the credit intermediation and related industry averaged $70,250 annually. A small local financial services firm is an example of a company in the non-depository credit intermediation industry.

Projected Job Outlook

The BLS estimates that there will be a 4 percent increase in employment for securities, commodities and financial services sales agents from 2020 to 2030, which is a little slower than the national average of 8 percent for all occupations. Companies and individuals need securities, commodities and financial services sales agents to maximize returns on their investments. Consolidation among financial services companies may temper job growth for these sales agents.

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